Intellectual Property Reserves means such reserves as the Administrative Agent and the Required Lenders from time to time determines in the Administrative Agent and the Required Lenders’ Permitted Discretion as being appropriate to reflect the impediments to the Administrative Agent’s and the Lenders’ ability to realize upon any Eligible Intellectual Property or to reflect claims and liabilities that the Administrative Agent and the Required Lenders determines will need to be satisfied in connection with the realization upon any Eligible Intellectual Property, to the extent not taken in to account in the Appraised Value of the Eligible Intellectual Property.
Intellectual Property Reserves means such reserves as the Agent from time to time determines in its Permitted Discretion as being appropriate to reflect the impediments to the Agent’s ability to realize upon any Eligible Intellectual Property or to reflect claims and liabilities that the Agent determines will need to be satisfied in connection with the realization upon any Eligible Intellectual Property.
Intellectual Property Reserves means such reserves as may be established from time to time by the Administrative Agent in the Administrative Agent’s reasonable discretion with respect to Eligible Intellectual Property, including, without limitation, (a) to reflect the impediments to the Administrative Agent’s ability to realize upon Eligible Intellectual Property, (b) to reflect claims and liabilities that the Administrative Agent determines will need to be satisfied in connection with the realization upon the Eligible Intellectual Property, (c) to reflect criteria, events, conditions, contingencies or risks which adversely affect the Eligible Intellectual Property or (d) to reflect costs and expenses associated with the Eligible Intellectual Property (including any such costs and expenses that the Administrative Agent determines may need to be paid in connection with the realization upon the Eligible Intellectual Property).
Examples of Intellectual Property Reserves in a sentence
Nothing contained herein shall be deemed to limit the rights of the Administrative Agent with respect to determining Intellectual Property Reserves in its Permitted Discretion pursuant to this Agreement.
The amount of any Intellectual Property Reserves established by the Administrative Agent shall have a reasonable relationship to the event, condition or other matter which is the basis for such reserve as determined by the Administrative Agent in their Permitted Discretion.
The Administrative Agent shall not establish any Intellectual Property Reserves that are duplicative of any other Reserves (as defined in the ABL Loan Agreement) or items that are otherwise addressed or excluded through eligibility criteria.
More Definitions of Intellectual Property Reserves
Intellectual Property Reserves means such reserves as Agent and Term Loan Agent may from time to time determine in Agent’s and Term Loan Agent’s commercially reasonable discretion as being appropriate to reflect the impediments to Agent’s ability to realize upon any Eligible Intellectual Property or to reflect claims and liabilities that Agent determines will need to be satisfied in connection with the realization upon any Eligible Intellectual Property; provided, that, (a) as of the Closing Date, no Intellectual Property Reserve is in effect and (b) after the Closing Date, Agent and Term Loan Agent will provide ten Business Days’, or if a Default or Event of Default exists or has occurred and is continuing, three (3) Business Days’, telephonic or electronic notice to Borrowers before implementing any such Intellectual Property Reserve.
Intellectual Property Reserves means such reserves as may be established from time to time by the Agent in its Permitted Discretion with respect to Eligible IP, including, without limitation, (a) to reflect