Lease Payment Reserve definition

Lease Payment Reserve means a reserve against the Borrowing Base in an amount determined by Agent in its discretion including an amount equal to the aggregate amount of a number of months (as determined by Agent) rent and utility costs payable by Borrower with respect to each Lease of real property where Eligible Inventory is located and with respect to which Borrower or Gxxxxx’x, as the case may be, has failed to obtain a Landlord’s Waiver from the landlord thereof in form and substance satisfactory to Agent. The Lease Payment Reserve may, in Agent’s discretion, be in addition to any other reserve against the Borrowing Base established by Agent, but in no event shall the Lease Payment Reserve per any single location where there has been a failure to obtain a Landlord’s Waiver exceed the greater of (i) an amount equal to the base rental payments under the then current lease for such location over the immediately preceding three month period, and (ii) the amount of any obligations owing or potentially owing to the applicable landlord secured by the assets of any Loan Party, provided that such amount shall not exceed the sum of the base rental payments under the then current lease for such location over the immediately preceding twelve month period.

Lease Payment Reserve means a reserve against Borrowing Availability in an amount determined by Agent in its discretion including an amount equal to the aggregate amount of a number of months (as determined by Agent) rent and utility costs payable by Borrower with respect to each Lease of real property where Eligible Inventory is located and with respect to which Borrower has failed to obtain a Landlord's Waiver from the landlord thereof in form and substance satisfactory to Agent. The Lease Payment Reserve may, in Agent's discretion, be in addition to any other reserve against Borrowing Availability established by Agent.

Lease Payment Reserve means the Escrow Account.

Examples of Lease Payment Reserve in a sentence

With respect to such locations or warehouse space leased as of the Closing Date or thereafter, if Agent has not received a Landlord’s Waiver or waiver and license agreement, as applicable, as of the Closing Date (or, if later, as of the date such location is leased), any Eligible Inventory at that location shall, in Agent’s discretion, be subject to the Lease Payment Reserve.
Notwithstanding this Section 5.12 or anything else in this Agreement to the contrary, Gxxxxx’x shall have one hundred twenty (120) days following the consummation of the Merger to obtain the Waivers being sought under this Section 5.12 which relate to Gxxxxx’x and its Subsidiaries), provided that any Eligible Inventory at any applicable location shall, in Agent’s discretion (without limiting any other provision hereof), be subject to the Lease Payment Reserve.
Notwithstanding this Section 5.12 or anything else in this Agreement to the contrary, Xxxxxx’x shall have one hundred twenty (120) days following the consummation of the Merger to obtain the Waivers being sought under this Section 5.12 which relate to Xxxxxx’x and its Subsidiaries), provided that any Eligible Inventory at any applicable location shall, in Agent’s discretion (without limiting any other provision hereof), be subject to the Lease Payment Reserve.

More Definitions of Lease Payment Reserve

Lease Payment Reserve means a reserve against the Borrowing Base in an amount determined by Agent in its discretion including an amount equal to the aggregate amount of a number of months (as determined by Agent) rent and utility costs payable by Borrower with respect to each Lease of real property where Eligible Inventory is located and with respect to which Borrower, Gxxxxx’x, Golf Galaxy or GolfWorks, as the case may be, has failed to obtain in accordance with Section 5.12 a Landlord’s Waiver from the landlord thereof in form and substance satisfactory to Agent. The Lease Payment Reserve may, in Agent’s discretion, be in addition to any other reserve against the Borrowing Base established by Agent, but in no event shall the Lease Payment Reserve per any single location where there has been a failure to obtain a Landlord’s Waiver exceed the greater of (i) an amount equal to the base rental payments under the then current lease for such location over the immediately preceding three month period, and (ii) the amount of any obligations owing or potentially owing to the applicable landlord secured by the assets of any Loan Party, provided that such amount shall not exceed the sum of the base rental payments under the then current lease for such location over the immediately preceding twelve month period.”

Lease Payment Reserve means a reserve against Borrowing Availability in an amount determined by Lender in its discretion including an amount equal to the aggregate amount of two months rent and utility costs payable by any Credit Party with respect to each lease of real property where Eligible Inventory is located and with respect to which any Credit Party has failed to obtain a landlord's waiver from the landlord thereof in form and substance satisfactory to Lender. The Lease Payment Reserve may, in Lender's discretion, be in addition to any other reserve against Borrowing Availability established by Lender.

Related to Lease Payment Reserve

Lease Payment means any form of payment, including a land lease, by a public entity to the private entity for the use of a qualifying project.
Lease Payments means the rental payments described in Exhibit A hereto.
Lease Payment Date means, with respect to any Interest Payment Date, the 5th Business Day immediately preceding such Interest Payment Date.
Replacement Reserve Monthly Deposit shall have the meaning set forth in Section 7.3.1 hereof.
Sublease Payment means any payment required to be made by the District pursuant to Article 7 of this Sublease.
Rent Reserve means, with respect to any plant, warehouse distribution center or other operating facility where any Inventory subject to landlords’ Liens or other Liens arising by operation of law is located and a Collateral Access Agreement has not been duly executed and delivered by the lessor or bailee at such location, a reserve equal to three (3) month’s rent at such plant, warehouse distribution center, or other operating facility, and such other reserve amounts that may be determined by the Administrative Agent in its reasonable discretion.
Monthly Debt Service Payment Amount means, for each Monthly Payment Date, an amount equal to the amount of interest which is then due on all the Components of the Loan in the aggregate for the Interest Period during which such Monthly Payment Date occurs.
Replacement Reserve As defined in Section 9.5.1.
Replacement Reserve Account shall have the meaning set forth in Section 7.3.1 hereof.
Replacement Reserve Fund shall have the meaning set forth in Section 7.3.1 hereof.
Expense Reserve Account The trust account established pursuant to Section 10.3(d).
Servicer Prepayment Charge Payment Amount The amounts payable by the Servicer in respect of any waived Prepayment Charges pursuant to Section 2.05 or Section 3.01.
Reserve Account Draw Amount means, for any Payment Date, an amount equal to the lesser of (a) the Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount of cash or other immediately available funds on deposit in the Reserve Account (excluding any net investment earnings) on such Payment Date; provided, however, that if such Payment Date is the Redemption Date, the “Reserve Account Draw Amount” shall mean an amount equal to the amount of cash or other immediately available funds on deposit in the Reserve Account on the Redemption Date.
Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];
Reserve Draw Amount shall have the meaning specified in subsection 4.12(c).
Reserve Account Required Amount means, with respect to any Payment Date, an amount equal to 0.25% of the Adjusted Pool Balance as of the Cutoff Date; provided, however, that in no event shall the Reserve Account Required Amount on any Payment Date be more than the aggregate Outstanding Amount of the Notes on such Payment Date (after giving effect to the allocation of principal payments on such Payment Date).
Required Reserve Fund Amount With respect to any Distribution Date on which the Net Excess Spread is less than 0.25%, the amount, if any by which (a) the product of 1.00% and the Pool Balance for such date exceeds (b) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. With respect to any Distribution Date on which the Net Excess Spread is equal to or greater than 0.25%, the amount, if any, by which (i) $1,000 exceeds (ii) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. Provided, however, that on any Distribution Date on which the Class Principal Amount of each Class of LIBOR Certificates has been reduced to zero, the Required Reserve Fund Amount shall be zero.
Cash Reserve means (i) at any time after the occurrence and during the continuation of a Level One Trigger, [*] of the aggregate Investment at such time and (ii) at any other time, an amount equal to 1% of the aggregate Investment at such time.
FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.
Credit allowance date means with respect to any qualified equity investment:
Initial Reserve Account Deposit Amount means an amount equal to $12,240,151.27.
Master Servicer Prepayment Charge Payment Amount The amounts payable by the Master Servicer pursuant to Section 2.03(b) in respect of any waived (or, with respect to subsequent changes of law, any unenforceable) Prepayment Charges.
Reserve Account Deposit Amount means, with respect to any Distribution Date, the lesser of (x) the excess of (i) the Specified Reserve Balance over (ii) the amount on deposit in the Reserve Account on such Distribution Date, after taking into account the amount of any Reserve Account Withdrawal Amount on such Distribution Date and (y) the amount remaining in the Collection Account after taking into account the distributions therefrom described in clauses (i) through (xviii) of Section 5.7(a).
Interest Reserve Account As defined in Section 3.4(d).