FX Reserve Percentage means ten percent (10%), as of any date of determination, a percentage determined in the reasonable discretion of Administrative Agent to account for foreign exchange volatility, in each case using a methodology that is sufficient to cover the 3-month foreign exchange exposure of the Lenders at such date of determination at a ninety-five percent (95%) confidence interval as calculated using Bloomberg BGN source data on the FXFM screen of Bloomberg (or such other screen as may from time to time be in effect); provided that, if necessary to account for foreign exchange volatility, any such percentage may be reset for any particular Alternative Currency in connection with the delivery of any revised Borrowing Base Certificate hereunder or on any Revaluation Date in the reasonable discretion of Administrative Agent or at the reasonable request of the Borrowers, in each case using such methodology.
FX Reserve Percentage means, at any time of determination, the quotient, expressed as a percentage, of (a) the product of (i) the U.S. Dollar Equivalent of the Outstanding Balance of all Canadian Receivables, multiplied by (ii) the CAD VaR Percentage, divided by (b) the Adjusted Net Receivables Pool Balance.
FX Reserve Percentage means, as of any date of determination and for each Alternative Currency, a percentage determined in the reasonable discretion of the Administrative Agent to account for foreign exchange volatility, in each case using a methodology that is sufficient to cover the 3-month foreign exchange exposure of the Lenders at such date of determination at a ninety-five percent (95%) confidence interval as calculated using Bloomberg BGN source data on the FXFM screen of Bloomberg (or such other screen as may from time to time be in effect); provided that any such percentage may be reset for any particular Alternative Currency on any Revaluation Date in the reasonable discretion of the Administrative Agent if necessary to account for foreign exchange volatility; provided further, that the FX Reserve Amount shall be subject to further adjustment if the cross currency swap analytics tool developed by the Administrative Agent changes after the Closing Date, such adjustment to be made by the Administrative Agent in consultation with the Borrowers (but, for the avoidance of doubt, shall not require any consent of the Borrowers). As of the Closing Date, the FX Reserve Percentage for the below Alternative Currencies is as follows: Canadian Dollars 7.50% Euro 7.00% Sterling 8.30%
Examples of FX Reserve Percentage in a sentence
As of any date of determination, the total amount of reserves, expressed as a percentage of the Net Eligible Receivables Balance, equal to the sum of the Dilution Reserve Percentage, the Discount Reserve Percentage, the Loss Reserve Percentage and the F/X Reserve Percentage.
With respect to any Settlement Date, the period beginning on the first Monday (or, in the case of the first such period for all purposes other than calculation of the Required Reserve Percentage, the Dilution Reserve Percentage, the Discount Reserve Percentage, the Loss Reserve Percentage and the F/X Reserve Percentage, beginning on the Closing Date) and ending on the last Sunday of the Fiscal Month of the Parent or the Borrower most recently ended prior to such Settlement Date.
More Definitions of FX Reserve Percentage
FX Reserve Percentage means five percent (5%).
FX Reserve Percentage means, as of any date of determination, 5.0%.
FX Reserve Percentage means, as of any date of determination and for each Alternative Currency, a percentage determined in the reasonable discretion of the Administrative Agent to account for foreign exchange volatility, in each case using a methodology that is sufficient to cover the 3-month foreign exchange exposure of the Lenders at such date of determination at a ninety-five percent (95%) confidence interval; provided, that any such percentage may be reset for any particular Alternative Currency on any Revaluation Date in the reasonable discretion of the Administrative Agent if necessary to account for foreign exchange volatility; provided further, that that the FX Reserve Amount shall be subject to further adjustment if the cross currency swap analytics tool developed by the Administrative Agent changes after the Closing Date, such adjustment to be made by the Administrative Agent in consultation with the Borrowers (but, for the avoidance of doubt, shall not require any consent of the Borrowers). As of the Closing Date, the FX Reserve Percentage for each Alternative Currency is: Euro 8.03% Sterling 8.66%
FX Reserve Percentage. With respect to any Reserve Currency, as of any Determination Date, a percentage expressed as a decimal equal to the greater absolute value of:
FX Reserve Percentage means, as of any date of determination, a percentage determined in the reasonable discretion of the Administrative Agent to account for foreign exchange volatility, in each case using a methodology that is sufficient to cover the 3‑month foreign exchange exposure of the Lenders at such date of determination at a ninety‑five percent (95%) confidence interval as calculated using Bloomberg BGN source data on the FXFM screen of Bloomberg (or such other screen as may from time to time be in effect); provided that, if necessary to account for foreign exchange volatility, any such percentage may be reset for any particular Alternative Currency in connection with the delivery of any revised Borrowing Base Certificate hereunder or on any Revaluation Date in the reasonable discretion of the Administrative Agent or at the reasonable request of the Borrowers, in each case using such methodology. The Administrative Agent shall promptly report to the Borrowers the FX Reserve Percentage upon each change of the FX Reserve Percentage and from time to time upon request by a Borrower.
FX Reserve Percentage means, as of any date of determination and for each Alternate Currency, a percentage determined in the reasonable discretion of the Administrative Agent to account for foreign exchange volatility, in each case using a methodology that is sufficient to cover the 3-month foreign exchange exposure of the Lenders at such date of determination at a ninety-five percent (95%) confidence interval as calculated using Bloomberg BGN source data on the FXFM screen of Bloomberg (or such other screen as may from time to time be in effect); provided that any such percentage may be reset for any particular Alternate Currency in connection with the delivery of any Borrowing Base Certificate hereunder or on any Revaluation Date in the reasonable discretion of the Administrative Agent if necessary to account for foreign exchange volatility. As of the Closing Date, the FX Reserve Percentage for the below Alternate Currencies is as follows: Euro 8.06% Sterling 11.24% Canadian Dollar 7.30% Japanese Yen 8.04% Australian Dollars 9.49%
FX Reserve Percentage means, as of any date of determination, a percentage determined in the reasonable discretion of the Administrative Agent to account for foreign exchange volatility, in each case using a methodology that is sufficient to cover the 3month foreign exchange exposure of the Lenders at such date of determination at a ninetyfive percent (95%) confidence interval as calculated using Reuters source data (or such other source as may be in effect from time to time); provided that, if necessary to account for foreign exchange volatility, any such percentage may be reset for any particular Alternative Currency in connection with the delivery of any revised Borrowing Base Certificate hereunder or on any Revaluation Date in the reasonable discretion of the Administrative Agent or at the reasonable request of the Borrowers, in each case using such methodology. The Administrative Agent shall promptly report to the Borrowers the FX Reserve Percentage on each change of the “FX Reserve Percentage” and from time to time upon request by any Borrower. The initial FX Reserve Percentages are as follows: