Credit Reserve definition

Credit Reserve means, at any time, the sum of (a) the Cash Management Reserve, plus (b) the Foreign Exchange Reserve, plus the Specified Swap Reserve.

Credit Reserve of any Undivided Interest on any day means an amount determined in accordance with the definition of Credit Reserve in Appendix A.

Credit Reserve on any day means an amount determined in accordance with the definition of Credit Reserve in Appendix A.

Examples of Credit Reserve in a sentence

• The amount of the Letter of Credit Reserve may be adjusted by Bank from time to time to account for fluctuations in the exchange rate.

• The availability of funds under the Revolving Line shall be reduced by the amount of such Letter of Credit Reserve for as long as such Letter of Credit remains outstanding.

• Amounts held in such Letter of Credit Reserve Account shall be applied by the Administrative Agent to the payment of drafts drawn under such Letters of Credit, and the unused portion thereof after such Letters of Credit shall have expired or been fully drawn upon, if any, shall be applied to repay other Obligations in the manner set forth in Section 2.11.

• After all such Letters of Credit shall have expired or been fully drawn upon, all Reimbursement Obligations shall have been satisfied, and all other Obligations shall have been paid in full, the balance, if any, in such Letter of Credit Reserve Account shall be returned to the Borrowers.

• If, at any time, the sum of (a) the outstanding principal amount of any Advances (including any amounts used for Cash Management Services), plus (b) the face amount of any outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve), plus (c) the FX Reduction Amount exceeds the lesser of either the Revolving Line or the Borrowing Base, Borrower shall immediately pay to Bank in cash such excess.

More Definitions of Credit Reserve

Credit Reserve means, as of any date of determination, the aggregate amount by which the aggregate Receivable Balances of all Eligible Receivables of the largest number of Obligors (such number determined by applying the table below) exceed the product of (A) the aggregate Receivable Balances of all Eligible Receivables and (B) (1- the Advance Percentage): 120 3 100 4 80 5 60 6 50 7 40 8 20 10 15 or less 11

Credit Reserve means, at any date, the amount calculated as follows:CR = CRP x PBwhere:

Credit Reserve shall have the meaning specified in Section 3.7.

Credit Reserve with respect to any Undivided Interest at any time means an amount equal to the greater of (1) the product of (i) the Purchaser's Investment of such Undivided Interest at such time divided by the Aggregate Purchaser's Investments at such time times (ii) $5,000,000 and (2) the product of (i) the Purchaser's Investment of such Undivided Interest at such time, times (ii) the greatest of (a) 12%, (b) the product of (1) five times (2) the highest Default Ratio to have occurred for the most recent twelve Month End Dates (or, if less, for the most recent Month End Dates occurring from the date hereof to the date of determination) and (c) the product of (1) 2.5 times (2) the highest Delinquency Ratio to have occurred for the most recent twelve Month End Dates; it being understood, that until Servicer has reported the Default Ratio using at least six months of data, clause (b) shall not be applicable.

Credit Reserve at any time means an amount equal to the greater of (1) $5,000,000 and (2) the product of (i) the Total Purchasers' Investment at such time, times (ii) the greatest of (A) 40%, and (B) the sum of (I) the Dilution Reserve, plus (II) the product of (a) 2.25 times (b) the highest Sales-Based Default Ratio to have occurred for the most recent twelve Month End Dates times the quotient of (x) the cumulative billings over the most recent four months (provided that billings fox xxx xxst recent five months shall be used if required bx xxx Xxrchaser at any time) divided by (y) the aggregate Unpaid Balance of Eligible Receivables as of the most recent Month End Date.

Credit Reserve means the portion of the Cash Reserve which is allocated to the Credit Ledger at any given time;

Credit Reserve shall have the meaning set forth in Article 5.9.