Loan Reserves means, as of any date of determination, such amounts as TEXTRON may from time to time establish and revise in good faith reducing the amount of Revolving Credit Loans which would otherwise be available to Borrower under the lending formula(s) provided in the Schedule: (a) to reflect events, conditions, contingencies or risks which, as determined by TEXTRON in good faith, do or may affect either (i) the Collateral or any other property which is security for the Obligations or its value, (ii) the assets, business or prospects of Borrower or any Guarantor or (iii) the security interests and other rights of TEXTRON in the Collateral (including the enforceability, perfection and priority thereof) or (b) to reflect TEXTRON's good faith belief that any collateral report or financial information furnished by or on behalf of Borrower or any Guarantor to TEXTRON is or may have been incomplete, inaccurate or misleading in any material respect or (c) in respect of any state of facts which TEXTRON determines in good faith constitutes an Event of Default or may, with notice or passage of time or both, constitute an Event of Default."
Loan Reserves means, as of any date of determination, such amounts as FINOVA may from time to time establish and revise in good faith reducing the amount of Revolving Credit Loans which would otherwise be available to Borrower under the lending formula(s) provided in the Schedule: (a) to reflect events, conditions, contingencies or risks which, as determined by FINOVA in good faith, do or may affect either (i) the Collateral or any other property which is security for the Obligations or its value, (ii) the assets, business or prospects of Borrower or any Guarantor or (iii) the security interests and other rights of FINOVA in the Collateral (including the enforceability, perfection and priority thereof) or (b) to reflect FINOVA's good faith belief that any collateral report or financial information furnished by or on behalf of Borrower or any Guarantor to FINOVA is or may have been incomplete, inaccurate or misleading in any material respect or (c) in respect of any state of facts which FINOVA determines in good faith constitutes an Event of Default or may, with notice or passage of time or both, constitute an Event of Default."
Loan Reserves as defined in Section 5.10.1.1.
Examples of Loan Reserves in a sentence
Borrower shall have Excess Availability under the Revolving Credit Loans facility of not less than the amount specified in the Schedule, after giving effect to the initial advance hereunder and after giving effect to any applicable Loan Reserves against borrowing availability under the Revolving Credit Loans.
In the event that no Servicer holds any such Underlying Purchased Loan Reserves for a Purchased Loan and Seller would otherwise hold the Underlying Purchased Loan Reserves directly, it shall forward such Underlying Purchased Loan Reserves to the Cash Management Account to be held and applied in accordance with the applicable Purchased Loan Documents.
In the event that no Servicer holds any such Underlying Purchased Loan Reserves for a Purchased Loan and Seller would otherwise hold the Underlying Purchased Loan Reserves directly, it shall forward such Underlying Purchased Loan Reserves to the Cash Management Account to be held and applied in accordance with the Purchased Loan Documents.
In the event that no Servicer holds any such Underlying Loan Reserves for the Underlying Loan and Borrower would otherwise hold the Underlying Loan Reserves directly, it shall forward such Underlying Loan Reserves to the Deposit Account to be held and applied in accordance with the Underlying Loan Documents.
If required by TEXTRON, Borrower shall have Excess Availability under the Revolving Credit Loans facility of not less than the amount specified in the Schedule, after giving effect to the initial advance hereunder and after giving effect to any applicable Loan Reserves against borrowing availability under the Revolving Credit Loans.
More Definitions of Loan Reserves
Loan Reserves means as of the date of determination, such amounts as FINOVA may from time to time establish and revise in good faith reducing the amount of Receivable Loans which would otherwise be available to Borrower under the lending formula provided in the Schedule: (a) to reflect events, conditions, contingencies or risks which, as determined by FINOVA in good faith, do or may affect either (i) the Collateral or any other property which is security for the Obligations or its value, (ii) the assets, business or prospects of Borrower or any Guarantor or (iii) the security interests and other rights of FINOVA in the Collateral (including the enforceability, perfection and priority thereof) or (b) to reflect FINOVA's good faith belief that any collateral report or financial information furnished by or on behalf of Borrower or any Guarantor to FINOVA is or may have been incomplete, inaccurate or misleading in any material respect or (c) in respect of any state of facts which FINOVA determines in good faith constitutes an Event of Default or may, with notice or passage of time or both, constitute an Event of Default.
Loan Reserves means, as of any date of determination, such amounts as FINOVA may from time to time establish and revise in good faith reducing the amount of Revolving Credit Loans which would otherwise be available to Borrower under the lending formula(s) provided in the Schedule: (a) to reflect events, conditions, contingencies or risks which, as determined by FINOVA in good faith, do or may affect either (i) the Collateral or any other property which is security for the Obligations or its value, (ii) the assets, business or prospects of Borrower or (iii) the security interests and other rights of FINOVA in the Collateral (including the enforceability, perfection and priority thereof) or (b) to reflect FINOVA's good faith belief that any collateral report or financial information furnished by or on behalf of Borrower to FINOVA is or may have been incomplete, inaccurate or misleading in any material respect or (c) in respect of any state of facts which FINOVA determines in good faith constitutes an Event of Default or may, with notice or passage of time or both, constitute an Event of Default."
Loan Reserves means, as of any date of determination, such amounts as DLL may from time to time establish and revise in the exercise of its reasonable business judgment reducing the amount of Revolving Credit Loans which would otherwise be available to Borrower under the lending formula(s) provided in the Schedule: (a) to reflect events, conditions, contingencies or risks which, as reasonably determined by DLL, do or may affect either (i) the Collateral or any other property which is security for the Obligations or its value, (ii) the assets, business or prospects of Borrower or any Subsidiary of Borrower or any Guarantor or (iii) the security interests and other rights of DLL in the Collateral (including the enforceability, perfection and priority thereof), including without limitation reserves with respect to any rent or other obligations owing or to become owing to any landlord, warehouseman or bailee on whose property any of the Collateral is stored or (b) to reflect DLL’s reasonable belief that any collateral report or financial information furnished by or on behalf of Borrower or any Subsidiary of Borrower or any Guarantor to DLL is or may have been incomplete, inaccurate or misleading in any material respect or (c) in respect of any state of facts which DLL reasonably determines constitutes an Event of Default or may, with notice or passage of time or both, constitute an Event of Default or (c) to reflect DLL’s decision, in its Permitted Discretion, to consent to the establishment of a reserve against the Revolving Credit Borrowing Base Amount in the amount of any Floorplan Collateral Coverage Reconciliation rather than requiring the immediate repayment of such Floorplan Collateral Coverage Reconciliation as provided for in Section 2.3 of this Agreement.
Loan Reserves means, as of any date of determination, such amounts as -------------- FINOVA may from time to time establish and revise in good faith reducing the amount of Revolving Credit Loans which would otherwise be available to Borrower under the lending FINOVA Loan and Security Agreement -------------------------------------------------------------------------------- formula(s) provided in the Schedule: (a) to reflect events, conditions, contingencies or risks which, as determined by FINOVA in good faith, do or may affect either (i) the Collateral or any other property which is security for the Obligations or its value, (ii) the assets, business or prospects of Borrower or any Guarantor or (iii) the security interests and other rights of FINOVA in the Collateral (including the enforceability, perfection and priority thereof) or (b) to reflect FINOVA's good faith belief that any collateral report or financial information furnished by or on behalf of Borrower or any Guarantor to FINOVA is or may have been incomplete, inaccurate or misleading in any material respect or (c) in respect of any state of facts which FINOVA determines in good faith constitutes an Event of Default or may, with notice or passage of time or both, constitute an Event of Default."
Loan Reserves means, as of any date of determination, such amounts as Agent may from time to time establish and revise in its Permitted Discretion reducing the amount of Revolving Credit Loans and Letters of Credit which would otherwise be available to Borrower under the lending formula(s) provided in Section 2.2 of the Schedule: (a) to reflect events, conditions, contingencies or risks which, as determined by Agent in good faith, do or may affect either (i) the Collateral or any other property which is security for the Obligations or its value, (ii) the assets, business or prospects of Borrower or (iii) the security interests of Agent, for its benefit and the benefit of the Lenders and other rights of Agent or any Lender in the Collateral (including the enforceability, perfection and priority thereof) or (b) to reflect reserves for accrued interest or (c) to reflect Agent's good faith belief that any collateral report or financial information furnished by or on behalf of Borrower to Agent or any Lender is or may have been incomplete, inaccurate or misleading in any material respect or (d) in respect of any state of facts which Agent determines in good faith constitutes an Event of Default or may, with notice or passage of time or both, constitute an Event of Default; Loan Reserves shall include without limitation, the Shareholder Matters Reserve and the Dilution Reserve.
Loan Reserves shall have the meaning set forth in Section 5.7(v).
Loan Reserves shall be in addition to, and shall not include, any amounts denominated as a Shrinkage Reserve, a Rent Reserve, an L/C Line Reserve or a Lease Termination Reserve.