Cash Management Reserve definition

Cash Management Reserve means a reserve established by the Administrative Agent from time to time in its Permitted Discretion in respect of the Borrower’s liabilities (or potential liabilities) as part of its cash management system under any Secured Cash Management Agreements such as, but not limited to, reserves for returned items, customary charges for maintaining Deposit Accounts and similar items, as such amounts are from time to time notified by each Cash Management Creditor to the Administrative Agent and the Borrower.

Cash Management Reserve means, on any date of determination, the aggregate amount of reserves established by the Administrative Agent from time to time in its Credit Judgment against the U.S. Borrowing Base or the Canadian Borrowing Base in respect of Cash Management Obligations, which shall not exceed the sum of the Dollar Equivalent of all Cash Management Obligations as reported to the Administrative Agent by each Cash Management Bank.

Cash Management Reserve means, on any date of determination, with respect to the U.S. Borrowing Base or the Canadian Borrowing Base, the aggregate amount of reserves established by the Administrative Agent from time to time in its Credit Judgment in respect of Cash Management Obligations of the U.S. Loan Parties or the Canadian Loan Parties, as the case may be, which shall be at least equal to the sum of the Dollar Equivalents of all Cash Management Obligations as reported to the Administrative Agent by each Cash Management Bank; provided that (i) any reserve with respect to Cash Management Obligations relating to corporate credit card programs and purchase card programs shall not exceed an amount equal to the average amount charged to such card programs for the three months prior to such date of determination and (ii) any reserve with respect to any other Cash Management Obligation shall not exceed the usual and customary charges for such Cash Management services charged by the applicable Cash Management Bank.

Examples of Cash Management Reserve in a sentence

• The Administrative Agent accepts no responsibility and shall have no liability for the calculation of the exposure owing by the Loan Parties under any such Qualified Secured Cash Management Agreement or the amount of any Cash Management Reserve, and shall be entitled in all cases to rely on the applicable Lender (or Affiliate thereof) and the applicable Loan Party party to such agreement for the calculation thereof.

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• In addition, any and all funds held in the Cash Management Reserve Fund (including the Subaccounts) and not applied as provided subsections (5), (6) and (7) above at the time of payment in full of the Indebtedness shall be released to Borrower promptly after the Indebtedness has been paid in full.

• If an Event of Default has occurred and is continuing, Lender may apply all funds in the Cash Management Reserve in its sole and absolute discretion.

• USL will mail a notice to the Policy Owner at his last known address, and a copy to the last known assignee on the records at least 31 days before the end of the Grace Period which sets forth this amount.

More Definitions of Cash Management Reserve

Cash Management Reserve means, as of any date of determination, a Reserve in an amount reasonably determined by the Agents. Cash Management Reserve shall be in effect during any period in which the cash management system of the Loan Parties is not reasonably satisfactory to the Agents (it being understood and agreed that, for the avoidance of doubt, the cash management system of the Loan Parties is not satisfactory to the Agents if any Control Agreement is terminated prior to execution and delivery of a replacement Control Agreement reasonably acceptable to the Collateral Agent or if any Loan Party receives a notice that any Control Agreement may be terminated).

Cash Management Reserve means a sublimit for cash management transactions under the Revolving Line not to exceed One Hundred Thousand Dollars ($100,000).

Cash Management Reserve shall have the meaning set forth in Section 5.01(w) hereof.

Cash Management Reserve means all reserves established by the Lender from time to time in its Permitted Discretion for Cash Management Obligations then provided or outstanding. As of the date hereof, the Cash Management Reserve is $420,000.00.

Cash Management Reserve means such reserves the Bank determines is appropriate to reflect the reasonably anticipated liabilities and obligations of the Borrowers in connection with any cash management services on bank products, including, without limitation, automatic clearing house and foreign exchange obligations.

Cash Management Reserve. “Dilution Reserve”, “Eligible Credit Card Receivables”, “Eligible In-Transit Inventory”, “Eligible Inventory”, “Eligible Trade Receivables”, “Inventory Reserves”, “Receivables Reserves”, “Shrink Reserve” or “Swap Obligations Reserve”, or any other provision of this Agreement (other than the provisions of Section 12.1) or any other Loan Document where the FILO Documentation Agent has a consent right on a matter for which the Administrative Agent also has a consent right, the FILO Documentation Agent shall consult with the Administrative Agent prior to imposing Reserves, withholding consent rights or otherwise taking action that would be less favorable to the Loan Parties than corresponding action taken by the Administrative Agent.

Cash Management Reserve means all reserves established by the Lender from time to time in its Permitted Discretion for Cash Management Obligations then provided or outstanding. As of the date hereof, the Cash Management Reserve is