Lease Reserve means a reserve, in an amount established by the Administrative Agent in its Permitted Discretion, in respect of Inventory held at any leased Store locations intended to be closed pursuant to a GOB Liquidation Sale Event with respect to which the lease therefor is or is intended to be terminated by the applicable Loan Party.
Lease Reserve means, as of any date of determination, an amount equal to the liabilities of the Borrowers under all Capital Leases and operating leases of Personal Property for the next succeeding three months from such date of determination to the extent that monthly payments on such Capital Leases and operating leases exceed the amounts used in the calculation of Net Retail Liquidation Value, provided that such amount shall not be less than zero.
Lease Reserve means a reserve, in an amount established by the Administrative Agent or the Co-Collateral Agent (subject in all respects to the provisions of Section 8.18) in their Permitted Discretion, in respect of (i) Inventory held at any leased or rented location in the United States or Puerto Rico intended to be closed with respect to which the lease therefor is or is intended to be terminated by a Domestic Borrower, (ii) Inventory at leased locations in the United States or Puerto Rico with respect to which the lease has not been assumed commencing on the Lease Assumption Reserve Commencement Date, or with respect to any specific location, the date that is 12 weeks (or, if longer, the length of the liquidation period assumed in the Inventory appraisals received by Agents, plus 3 weeks) prior to the expiration of such period of time as shall have been consented to for rejection/assumption of such lease by the landlord for such location, or (iii) Inventory held at any leased location in the United States or Puerto Rico as to which there has been filed a motion to compel the assumption or rejection of the lease, in each case in an amount determined by the Administrative Agent or the Co-Collateral Agent (subject in all respects to the provisions of Section 8.18) in their Permitted Discretion.
Examples of Lease Reserve in a sentence
At such time as MSHDA’s mortgage loan(s) and all other financial obligations to MSHDA are paid in full, the remaining balance of the Master Lease Reserve, including all interest that has accumulated, will be released in accordance with the Authority’s written policy on the use of the Master Lease Reserve, as amended from time to time.
This was mostly a consequence of a limited participation by developed countries in the international market, as both suppliers and buyers.In the EU, a drop in activity in the leather supply chain resulted in fewer exports from member states in 2008.
The Liquidating Trustee shall not be permitted to distribute any of the Lease Reserve to any Person other than a Person entitled to payment from the Lease Reserve (and then such payment shall be permitted in accordance with the terms of the Plan, the Final DIP Order and the Funding Agreement) unless and until all Allowed Lease Claims have been paid in full and all other Lease Claims have been Disallowed or otherwise resolved.
On or before the Effective Date, the Debtors shall fund the Lease Reserve in the amount of the Remaining Lease Balance and in accordance with the terms of the Final DIP Order and the Funding Agreement.
In the event that Cash remains in the Lease Reserve after payment of all Allowed Base Rent Lease Claims, such residual Cash shall be used to pay each Allowed Lease Claim other than Allowed Base Rent Lease Claims, upon entry of a Final Order allowing each such Lease Claim.
More Definitions of Lease Reserve
Lease Reserve means a reserve that shall be established by the Administrative Agent (unless otherwise determined by the Required Lenders) (a) solely with respect to Ann Taylor Inventory, after the date (i) that is one hundred and five (105) days after the Petition Date, unless the Court shall have entered the Confirmation Order on or prior to such date, and (ii) that Liquidity is less than $150,000,000, in respect of any such Ann Taylor Inventory held at any leased store locations (x) intended to be closed with respect to which the Lease therefor is, or is intended to be, terminated by the applicable Loan Party, or (y) with respect to which the Lease therefor has not been assumed, commencing on the Lease Reserve Commencement Date set forth in clause (a) of the definition thereof, and (b) with respect to all other Inventory (other than Ann Taylor Inventory) held at any leased store locations (x) intended to be closed with respect to which the Lease therefor is, or is intended to be, terminated by the applicable Loan Party, or (y) with respect to which the Lease therefor has not been assumed, commencing on the Lease Reserve Commencement Date set forth in clause (b) of the definition thereof. The amount of the Lease Reserve in effect from time to time shall not exceed the anticipated reduction in the Net Orderly Liquidation Value, as communicated to the Administrative Agent by the applicable appraiser (which information the Administrative Agent is authorized to obtain), which is anticipated to result from (x) the Modified Sale Term being more than (y) the number of days remaining until the Lease Rejection Date.
Lease Reserve means a reserve, in an amount established by the Administrative Agent in its Permitted Discretion, in respect of (a) Inventory held at any leased Store locations intended to be closed with respect to which the Lease therefor is, or is intended to be, terminated by the applicable Loan Party (other than any Store location subject to the Specified Store Closing Sale unless such location is subject of a lease rejection motion or there has been filed a motion with the U.S. Bankruptcy Court to compel the assumption or rejection of the lease), or (b) Inventory at leased Store locations with respect to which the Lease has not been assumed commencing on the Lease Reserve Commencement Date, or with respect to any specific location, the date that is fifteen (15) weeks prior to the expiration of such period of time as shall have been consented to for rejection/assumption of such Lease by the landlord for such location and approved by the U.S. Bankruptcy Court, in each case in an amount determined by the Administrative Agent in its commercially reasonable discretion.
Lease Reserve means the actual expenses for the preceding 3 months associated with the Borrower's leased facilities which contain Inventory.
Lease Reserve means, for each leased facility of each Borrower where any Collateral or any records relating to Collateral is located and as to which Borrowers have not delivered to Lender a landlord agreement reasonably satisfactory to Lender, a reserve in an amount equal to one months rent owing under the lease for such facility.
Lease Reserve means, at the time of any determination of the Borrowing Base, for each Operating Unit an amount equal to the aggregate of the monthly rental payments for the six months immediately preceding the time of such determination for all leases of facilities (a) at which Eligible Inventory of such Operating Unit is stored and (b) in respect of which the Company has not obtained a waiver, in form and substance reasonably satisfactory to the Collateral Agent, from the lessor of such leased property of any statutory or common law landlord's lien with respect to such leased property.
Lease Reserve is defined in Section 4.5 of this Agreement.
Lease Reserve will mean, for each Project, a lease reserve described in Section 7.2.17 below deposited -------------- with Lender's Affiliate in the amount set forth in the Budget approved by Lender.