Deferred Revenue Reserve definition
Deferred Revenue Reserve means a reserve of up to the aggregate cost and expense to perform the relevant services or to produce or manufacture the relevant goods.
Deferred Revenue Reserve means reserves established by Agent in its Permitted Discretion for (i) warranty claims that may be asserted against a Borrower, (ii) potential claims under maintenance agreements with respect to which a Borrower is obligated to provide services which services have already been paid for by the applicable Account Debtor, and (iii) potential claims under subscription arrangements with respect to which a Borrower is obligated to provide services or maintain such subscription which services and/or subscription have already been paid for by the applicable Account Debtor. The formula for calculating the Deferred Revenue Reserve shall be as follows: for any of the items described in clauses (i) (ii) or (iii) above, if there is an Eligible Account that is also in the Deferred Revenue Reserve as defined in clauses (i), (ii) or (iii) above and it is owing by the same Customer, the Deferred Revenue Reserve with respect to such Account shall be the lesser of the Eligible Account or the Deferred Revenue Reserve.
Deferred Revenue Reserve means any reserve that the Agent may from time to time establish (in its sole discretion after the occurrence of a Default or an Event of Default) for the potential offset against the Borrowers' Accounts arising from deferred revenue obligations that are accrued by the Borrowers.
Examples of Deferred Revenue Reserve in a sentence
Deferred Revenue Reserve – at any date of determination, 85% of “deferred revenue liability” as reflected on the balance sheet of Parent and Restricted Subsidiaries as of the last day of the most recently completed Fiscal Month.
Deferred Revenue Reserve - at any date of determination, 85% of “deferred revenue liability” as reflected on the balance sheet of Parent and Restricted Subsidiaries as of the last day of the most recently completed Fiscal Month.
The Deferred Revenue Reserve shall, as of the Closing Date, be $450,000 and shall be updated and revised on a periodic basis as determined by Agent in its reasonable credit judgment.
More Definitions of Deferred Revenue Reserve
Deferred Revenue Reserve means reserves established by Agent in its Permitted Discretion for (i) warranty claims that may be asserted against a Borrower, (ii) potential claims under maintenance agreements with respect to which a Borrower is obligated to provide services which services have already been paid for by the applicable Account Debtor, and (iii) potential claims under subscription arrangements with respect to which a Borrower is obligated to provide
Deferred Revenue Reserve means such reserves established by the Bank in its sole discretion related primarily to prepaid maintenance contracts, which reserve shall initially be in the amount of $195,000 and which is subject to change in the sole discretion of the Bank based on the results of the Bank's examination of the Borrower's books and records.