Revolver Reserve definition

Revolver Reserve in Section 1.1 of the Existing Credit Agreement is hereby deleted in its entirety and replaced by the following:

Revolver Reserve in Section 1.1 of the Existing Credit Agreement is hereby deleted in its entirety and replaced by the following: ""Revolver Reserve": as of any date, an amount equal to the lesser of (i) ----------------- the amount, if any, by which the sum determined in accordance with clause I of the definition of Revolver Borrowing Base on such date exceeds the aggregate outstanding Revolver Advances on such date and (ii) the amount, if any, by which the sum of the Term Loan A Facility (without regard to any Term Loan A borrowings made prior to or on such date) on such date, the Term Loan B Facility (without regard to any Term Loan B borrowings made prior to or on such date) on such date, the Term Loan C Facility (without regard to any Term Loan C borrowings made prior to or on such date) on such date, the Term Loan D Facility (without regard to any Term Loan D borrowings made prior to or on such date) on such date and the Term Loan E Facility (without regard to any Term Loan E borrowings made prior to or on such date) on such date exceeds the sum of the Term Loan A Borrowing Base on such date, the Term Loan B Borrowing Base on such date, the Term Loan C Borrowing Base on such date, the Term Loan D Borrowing Base on such date and the Term Loan E Borrowing Base on such date."

Revolver Reserve as of any date, an amount equal to the lesser of (i) the amount, if any, by which the sum determined in accordance with clause I of the definition of Revolver Borrowing Base on such date exceeds the aggregate outstanding Revolver Advances on such date and (ii) the amount, if any, by which the sum of the Term Loan A Facility (without regard to any Term Loan A borrowings made prior to or on such date) on such date, the Term Loan B Facility (without regard to any Term Loan B borrowings made prior to or on such date) on such date and the Term Loan C Facility (without regard to any Term Loan C borrowings made prior to or on such date) on such date exceeds the sum of the Term Loan A Borrowing Base on such date, the Term Loan B Borrowing Base and the Term Loan C Borrowing Base on such date."

Examples of Revolver Reserve in a sentence

• Notwithstanding anything to the contrary set forth in this Section 2.06, there shall be no obligation of any Issuing Bank to make issue any Letter of Credit in respect of the Revolver Reserve Amount unless the condition specified in Section 4.02(d) shall have been satisfied or waived as of the date of the issuing of such Letter of Credit.

• Without limiting the generality of the foregoing, Lender shall withhold from Leading Borrower's Domestic Revolving Credit Availability the Foreign Revolver Reserve, the Inventory Reserve, the Lens Reserve, and the Domestic Environmental Reserve, and Lender shall withhold from Leading Borrower's Foreign Revolving Credit Availability the Foreign Environmental Reserve.

• In addition, to the extent and if for any reason after giving effect to such repayment of Revolving Loans the Aggregate Revolving Loan Commitment minus the aggregate amount of Revolving Loans outstanding minus any Revolver Reserve in effect at the time is less than the amount of the L/C Obligations outstanding at such time, the Company shall Cash Collateralize Letters of Credit in an amount equal to the amount of such shortfall.

• Subject to the terms and conditions hereof, the Lender agrees to make a term loan to the Borrower in one advance (such advance, together with any advances made in connection with the substitution of Approved Aircraft pursuant to Section 2.5 hereof, the "Term Loan") on the Closing Date in the principal amount of the lesser of (a) the Term Loan Facility on such date and (b) the Term Loan Borrowing Base on such date plus the Revolver Reserve on such date.

• For the avoidance of doubt, the Applicable Company Percentage of such Net Cash Proceeds referred to in this clause (e) shall not be retained by the Company, but shall instead be used to prepay (without a corresponding commitment reduction) Revolving Loans which are not New Block Loans or Existing Block Loans (or cash collateralize Letters of Credit which were not issued in respect of the New Revolver Reserve Amount or in respect of the Existing Revolver Reserve Amount) which are outstanding at such time.

More Definitions of Revolver Reserve

Revolver Reserve means $1,500,000 which amount shall be adjusted downward based upon information received by the Agent and approved by the Required Lenders demonstrating that a reduction in the level of the reserve is justified as the result of the partial or total remediation or elimination of environmental problems.

Revolver Reserve as of any date, an amount equal to the lesser of (i) the amount, if any, by which the sum determined in accordance with clause I of the definition of Revolver Borrowing Base on such date exceeds the aggregate outstanding Revolver Advances on such date and (ii) the amount, if any, by which the sum of the Term Loan A Facility (without regard to any Term Loan A borrowings made prior to or on such date) on such date and the Term Loan B Facility (without regard to any Term Loan B borrowings made prior to or on such date) on such date exceeds the sum of the Term Loan A Borrowing Base on such date and the Term Loan B Borrowing Base on such date."

Revolver Reserve is defined in Section 2.8(b)(i).

Revolver Reserve means, as of determination, (a) prior to the satisfaction of the Revolver Conditions, (i) $100,000,000, MINUS (ii) the Dollar amount available to be drawn under Letters of Credit issued as of such date of determination (for the avoidance of doubt, if and when a Letter of Credit is drawn, is reduced or expires undrawn, the Revolver Reserve would automatically increase on a Dollar-for-Dollar basis in the amount of such drawing, such reduction, or, in the case of a Letter of Credit expiring without being drawn, the amount of such Letter of Credit), MINUS (iii) the then outstanding principal amount of the Term Loan, and (b) after the satisfaction of the Revolver Conditions, zero.

Revolver Reserve in Section 1.1 of the Existing Credit Agreement is hereby deleted in its entirety and replaced by the following: ""Revolver Reserve": as of any date, an amount equal to the lesser of (i) the ----------------- amount, if any, by which the sum determined in accordance with clause I of the definition of Revolver Borrowing Base on such date exceeds the aggregate outstanding Revolver Advances on such date and (ii) the amount, if any, by which the sum of the Embraer Term Loan Facility (without regard to any Embraer Term Loan borrowings made prior to or on such date) on such date, on such date exceeds the Embraer Term Loan Borrowing Base on such date."

Revolver Reserve as of any date, an amount equal to the lesser of (i) the ----------------- amount, if any, by which the sum determined in accordance with clause I of the definition of Revolver Borrowing Base on such date exceeds the aggregate outstanding Revolver Advances on such date and (ii) the amount, if any, by which the sum of the Embraer Term Loan Facility (without regard to any Embraer Term Loan borrowings made prior to or on such date) on such date, on such date exceeds the Embraer Term Loan Borrowing Base on such date."

Revolver Reserve shall have the meaning specified in Section 2.01(d).