Receivable Reserves definition
Receivable Reserves means, as of any date of determination, those reserves that Agent deems necessary or appropriate, in its Permitted Discretion and subject to Section 2.1(c), to establish and maintain (including reserves for rebates, discounts, warranty claims, and returns) with respect to the Eligible Accounts or the Maximum Revolver Amount.
Receivable Reserves means, as of any date of determination, those reserves that Agent deems necessary or appropriate, in its Permitted Discretion and subject to Section 2.1(c), to establish and maintain with respect to the Eligible Accounts or the Maximum Revolver Amount. “Record” means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. “Refinancing Indebtedness” means refinancings, renewals, replacements or extensions of Indebtedness so long as: (a) such refinancings, renewals, replacements or extensions do not result in an increase in the principal amount of the Indebtedness so refinanced, renewed, or extended, other than by the amount of premiums paid thereon and the fees and expenses incurred in connection therewith and by the amount of unfunded commitments with respect thereto, (b) such refinancings, renewals, replacements or extensions do not result in a shortening of the final stated maturity or the average weighted maturity (measured as of the refinancing, renewal, or extension) of the Indebtedness so refinanced, renewed, replaced or extended, nor are they on terms or conditions (other than pricing and yield in respect of Indebtedness that does not constitute Sale Leaseback Outstanding Obligations) that, taken as a whole, are or could reasonably be expected to be materially adverse to the interests of the Lenders, (c) if the Indebtedness that is refinanced, renewed, replaced or extended was subordinated in right of payment to the Obligations, then the terms and conditions of the refinancing, renewal, or extension must include subordination terms and conditions that are at least as favorable to the Lender Group as those that were applicable to the refinanced, renewed, or extended Indebtedness, (d) if the Indebtedness that is refinanced, renewed, replaced or extended was unsecured, such refinancing, renewal or extension shall be unsecured, and (e) if the Indebtedness that is refinanced, renewed, replaced or extended was secured (i) such refinancing, renewal, or extension shall be secured by substantially the same or less collateral as
Receivable Reserves as of any date of determination, those reserves that the Administrative Agent deems necessary, in its Permitted Discretion and subject to Section 2.1(d), to establish and maintain (including reserves for rebates, discounts, warranty claims, and returns) with respect to the Eligible Accounts, the Maximum Global Credit Amount, the Maximum U.S. Credit Amount or the Maximum Canadian Credit Amount.
Examples of Receivable Reserves in a sentence
Anything to the contrary in this Section 2.1 notwithstanding, Agent shall have the right (but not the obligation), in the exercise of its Permitted Discretion, to establish and increase or decrease Receivable Reserves, Inventory Reserves, Bank Product Reserves, Cash Settlement Reserves, and other Reserves against the Revolver Borrowing Base or the Maximum Revolver Amount.
Anything to the contrary in this §2.1 notwithstanding, the Administrative Agent shall have the right (but not the obligation), in the exercise of its Permitted Discretion, to establish and increase or decrease Receivable Reserves and other Reserves against the Borrowing Base or the Revolving Credit Commitment.
The amount of any Receivable Reserves, Rolling Stock Reserves, Landlord Reserves, Bank Product Reserves, Mexico Rolling Stock Reserve or other Reserve established by Agent shall have a reasonable relationship to the event, condition, other circumstance, or fact that is the basis for such reserve and shall not be duplicative of any other reserve established and currently maintained.
The amount of any Receivable Reserves, Inventory Reserves, Bank Product Reserves, FSA Reserves, Food Products Payable Reserves, Landlord Reserves, or other Reserve established by Agent shall have a reasonable relationship to the event, condition, other circumstance, or fact that is the basis for such reserve and shall not be duplicative of any other reserve established and currently maintained.
The accounts receivable to be reflected in the Closing Financial Statements (other than accounts receivable arising from transactions between JAC Group Companies) will be collected in the ordinary course of business consistent with past practice at the aggregate recorded amount thereof, net of any Receivable Reserves, and will be paid in cash within one hundred fifty (150) days of the creation of the account receivable.
More Definitions of Receivable Reserves
Receivable Reserves means, as of any date of determination, those reserves that Agent deems necessary or appropriate, in its Permitted Discretion and subject to Section 2.1(c), to establish and maintain (including Landlord Reserves for books and records locations) with respect to the Eligible Accounts or the Maximum Revolver Amount.
Receivable Reserves means, as of any date of determination, those reserves that Agent deems necessary or appropriate, in its Permitted Discretion and subject to Section 2.1(c), to establish and maintain (including Landlord Reserves for books and records locations and reserves for rebates, discounts, warranty claims, and returns) with respect to the Eligible Accounts or the Maximum Revolver Amount; provided that any Receivable Reserve established by Agent shall not be duplicative of any other reserve established and currently maintained by Agent in accordance with this Agreement, or any eligibility criteria set forth in the definition of Eligible Accounts.
Receivable Reserves means, as of any date of determination, (i) those reserves that Agent deems necessary or appropriate, in its Permitted Discretion and subject to Section 2.1(c), to establish and maintain (including reserves for rebates, discounts, warranty claims, and returns) with respect to the Eligible Accounts or the Maximum Revolver Amount and (ii) reserves equal to the sum of (1) the amount of retroactive settlements estimated to be due and owing to a Governmental Authority, (2) without duplication, 100% of those amounts for which payment plans have been established with the appropriate Governmental Authority, and (3) the amount of any overpayments or refunds due to any Third Party Payor or other Account Debtor.
Receivable Reserves means, as of any date of determination, those reserves that Agent deems necessary or appropriate, in its Permitted Discretion and subject to Section 2.1(c), to establish and maintain (including, without duplication of any Inventory Reserves or M&E Reserves constituting Landlord Reserves, Landlord Reserves for books and records locations and reserves for rebates, discounts, warranty claims, and returns) with respect to the Eligible Accounts, in each case against the Borrowing Base (including with respect to any reserves for rights of recoupment or offset against any Eligible Accounts or for any rebates, discounts, credits, claims or disputes against any Eligible Accounts) or the Maximum Revolver Amount.
Receivable Reserves means, as of any date of determination, those reserves that Agent deems necessary or appropriate, in its Permitted Discretion and subject to Sections 2.1.1(c) and 2.1.2(c), to establish and maintain (including reserves for rebates, discounts, warranty claims, and returns) with respect to the Eligible Accounts, the U.S. Revolver Borrowing Base, the Australian Revolver Borrowing Base, the U.S. Maximum Revolver Amount or the Australian Maximum Revolver Amount. “Rescindable Amount” has the meaning as defined in Section 2.4(a)(ii). “Recipient” Agent, Issuing Bank, any Lender or any other recipient of a payment to be made by a Loan Party under a Loan Document or on account of an Obligation. “Record” means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. “Reference Period” has the meaning set forth in the definition of EBITDAR. “Refinancing Indebtedness” means refinancings, renewals, or extensions of Indebtedness so long as: (a) such refinancings, renewals, or extensions do not result in an increase in the principal amount of the Indebtedness so refinanced, renewed, or extended, other than by the amount of premiums paid thereon and the fees and expenses incurred in connection therewith and by the amount of unfunded commitments with respect thereto,
Receivable Reserves means, as of any date of determination, those reserves that Collateral Agent deems necessary or appropriate, in their Permitted Discretion and subject to Section 2.1(c), to establish and maintain (including Dilution Reserves and reserves for rebates, discounts, warranty claims, and returns) with respect to Eligible Accounts or the Maximum Revolver Amount. “Recipient” means the Administrative Agent, any Lender or any Issuing Bank. “Record” means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. “Reference Period” means, as of any date of determination, the period of four (4) consecutive fiscal quarters ended on or immediately prior to such date for which financial statements of Parent and its Restricted Subsidiaries have been delivered to the Administrative Agent hereunder.
Receivable Reserves means the reserves for Accounts Receivable set forth on the Closing Date Balance Sheet as “uncollectible customer account reserves,” “customer allowance reserves,” “customer authorized returns reserves” and “customer chargeback claims reserves.”