Commitment Reserves definition

Commitment Reserves means any and all reserves which (a) the Administrative Agent deems necessary, in its Permitted Discretion, to establish with respect to the maximum amount available for borrowing under any of the US Revolving Commitments, UK Revolving Commitments or Canadian Revolving Commitments, (b) the Singapore Administrative Agent deems necessary, in its Permitted Discretion, to establish with respect to the maximum amount available for borrowing under the Singapore Revolving Commitments, and (c) the UAE Administrative Agent deems necessary, in its Permitted Discretion, to establish with respect to the maximum amount available for borrowing under the UAE Revolving Commitments. Such Commitment Reserves include, without limitation, reserves for accrued and unpaid interest on the Obligations, reserves for contingent liabilities of any Loan Party, reserves for Swap Obligations, Banking Services Reserves, Rent Reserves, reserves for other charges at consignee, warehouse and bailee locations, reserves for customs and shipping charges for inventory in transit, and reserves for taxes, fees, assessments, and other governmental charges; provided, that Commitment Reserves shall not include any reserves specifically included by the Administrative Agent as “Borrowing Base Reserves”.
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Commitment Reserves means any and all reserves which the Administrative Agent deems necessary, in its Permitted Discretion, to establish with respect to the maximum amount available for borrowing under the Revolving Commitments and which will be deducted from the lower of the Borrowing Base and the aggregate Revolving Commitments. Such Commitment Reserves include, without limitation, reserves for accrued and unpaid interest on the Obligations, reserves for Swap Obligations, the Special Vendor Payable Reserve, the Rent Reserve, reserves for other charges at consignee, warehouse and bailee locations and reserves for customs and shipping charges for inventory in transit and reserves for taxes, fees, assessments, and other governmental charges; provided, that Commitment Reserves shall not include any reserves specifically described under the definition of “Borrowing Base Reserves”.
Sample 1
Commitment Reserves means any and all reserves which the Administrative Agent deems necessary, in its Permitted Discretion, to establish with respect to the maximum amount available for borrowing under the Revolving Commitments. Such Commitment Reserves include, without limitation, reserves for accrued and unpaid interest on the Obligations, reserves for Swap Obligations, the Special Vendor Payable Reserve, the Rent Reserve, reserves for other charges at consignee, warehouse and bailee locations, reserves for customs and shipping charges for inventory in transit and reserves for taxes, fees, assessments, and other governmental charges, and the Canadian Employee Funding Liability Reserve; provided, that Commitment Reserves shall not include any reserves (a) specifically described under the definition of “Borrowing Base Reserves” or (b) for scheduled payments of amounts then owing under the Senior Notes to the extent the Availability Block is then in effect.
Sample 1

Examples of Commitment Reserves in a sentence

  • The Electric Utility CIP Reappropriation and Commitment Reserves totaled $12 million at the end of Q3 FY 2019.

  • A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit each US Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $30,000,000 and (ii) the total US Revolving Exposures shall not exceed (A) the lesser of the total US Revolving Commitments and the US Borrowing Base, minus (B) the Commitment Reserves.

  • The Gas Utility CIP Re-appropriation and Commitment Reserves totaled $7.5 million at the end of Q3 FY 2019.

  • As shown in Table 10, the Water Utility CIP Reappropriation and Commitment Reserves totaled$17.2 million at the end of Q3 FY 2016, of which $6.2 million was for projects under contract.

  • The Wastewater Collection Utility CIP Reappropriation and Commitment Reserves totaled $ 4.6 million at the end of FY 2022.

  • A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit each Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $20,000,000 and (ii) the total Revolving Exposures shall not exceed (A) the lesser of the total Revolving Commitments and the Borrowing Base, minus (B) the Commitment Reserves.

  • As shown in Table 8, preliminary levels for the Gas Utility CIP Reappropriation and Commitment Reserves totaled $8.3 million at the end of Q3 FY 2016, of which $284,000 was committed to projects under contract.

  • The Water Utility CIP Reappropriation and Commitment Reserves totaled over $20.4 million at the end of Q3 FY 2019.

  • The Wastewater Collection Utility CIP Reappropriation and Commitment Reserves totaled $0.83 million at the end of FY 2021.

  • As shown in Table 7, the Electric Utility CIP Reappropriation and Commitment Reserves totaled$14.2 million at the end of Q3 FY 2016, of which $3.5 million was under contract.


More Definitions of Commitment Reserves

Commitment Reserves means any and all reserves which the Administrative Agent deems necessary, in its Permitted Discretion, to establish with respect to the maximum amount available for borrowing under the Revolving Commitments. Such Commitment Reserves include, without limitation, reserves for accrued and unpaid interest on the Obligations, reserves for Swap Obligations, the Special Vendor Payable Reserve, the Rent Reserve, reserves for other charges at consignee, warehouse and bailee locations, reserves for customs and shipping charges for inventory in transit and reserves for taxes, fees, assessments, and other governmental charges, and the Canadian Employee Funding Liability Reserve; provided, that Commitment Reserves shall not include any reserves specifically described under the definition of "Borrowing Base Reserves".
Sample 1
Commitment Reserves means, as of any given date, an amount equal to the credit exposure of Lender due to (a) outstanding letters of credit issued by Xxxxxx on behalf of Borrower; or (b) any Swap Obligations of Borrower owed to Lender.
Sample 1
Commitment Reserves means, as of any given date, an amount equal to the credit exposure of Lender due to (a) outstanding letters of credit issued by Lender on behalf of Borrower; or (b) any Swap Obligations of Borrower owed to Lender.
Sample 1

Related to Commitment Reserves

  • Revolving Commitment Amount means, as to any Lender, the Revolving Commitment amount (if any) set forth opposite such Lender’s name on Schedule 1.1 hereto (or, in the case of any Lender that became party to this Agreement after the Closing Date pursuant to Section 16.3(c) or (d) hereof, the Revolving Commitment amount (if any) of such Lender as set forth in the applicable Commitment Transfer Supplement).

  • Facility Amount means (a) prior to the end of the Revolving Period, $250,000,000, unless this amount is permanently reduced pursuant to Section 2.5 or increased pursuant to Section 2.8, in which event it means such lower or higher amount and (b) from and after the end of the Revolving Period, the Advances Outstanding.

  • Aggregate Revolving Commitment Amount means the aggregate principal amount of the Aggregate Revolving Commitments from time to time. On the Closing Date, the Aggregate Revolving Commitment Amount is $300,000,000.