Term Loan Reserve definition

Term Loan Reserve means the amount, if any, by which the aggregate outstanding principal balance of the Term Loan exceeds the Term Loan Borrowing Base.

Term Loan Reserve means, at any time, an amount equal to the greater of (a) $0 and (b) the amount, if any, by which the outstanding principal amount of the Term Loans exceeds the sum of:

Term Loan Reserve means an amount equal to the entire unpaid principal balance of the Term Loan outstanding from time to time.”

Examples of Term Loan Reserve in a sentence

• The $1,000,000 Term Loan Reserve established pursuant to Section 2.3 of that certain Amendment to Loan and Security Agreement dated March 31, 2009 is hereby removed as a Reserve under the Revolving Line.

• Subject to the terms of this Section 3.9, the ABL Agent shall impose and maintain the Term Loan Reserve as an Availability Reserve (as defined in the ABL Loan Agreement) against the ABL Borrowing Base at all times when the aggregate outstanding principal balance of the Term Loans (as defined in the Term Loan Agreement) exceeds the Term Borrowing Base.

• The ABL Representative hereby agrees that the DIP Term Loan Reserve shall be deducted from the Borrowing Base at any time that the DIP Term Loan Reserve is greater than zero.

• Each of the Term Credit Parties and the Loan Parties agrees that in the event of any discrepancy or dispute between the Term Credit Parties and the Loan Parties as to the amount of the Term Loan Reserve, the ABL Agent and ABL Credit Parties shall be entitled to rely solely on the calculation of the Term Loan Reserve as determined by the Term Agent and shall have no liability to any Person for doing so.

• ABL Representative shall impose and maintain the DIP Term Loan Reserve at any time that the DIP Term Loan Reserve is greater than zero.

More Definitions of Term Loan Reserve

Term Loan Reserve means, at any time, a reserve against the ABL Borrowing Base in an amount equal to the difference (if positive) between (a) the outstanding principal balance of the Term Loans (as defined in the Term Loan Agreement) and (b) the Term Borrowing Base.

Term Loan Reserve means, on any date of determination, a reserve equal to the outstanding principal balance of the Term Loan.

Term Loan Reserve means the Term Loan Reserve under and as defined in the Intercreditor Agreement.

Term Loan Reserve means “Term Loan Reserve” as defined under the ABL Credit Agreement as in effect on the Third Amendment Effective Date without giving effect to any amendments or modifications of such definition or any component definitions (or any sub-component definitions) thereof.

Term Loan Reserve means a reserve established by the Administrative Agent equal to the amount by which the Outstanding Amount of the Term Loan exceeds the Term Borrowing Base.

Term Loan Reserve means a reserve maintained against the ABL Borrowing Base in an amount equal to the amount by which (if any) the Total Outstandings exceed the Borrowing Base.

Term Loan Reserve means as of any date of calculation of the Borrowing Base, an Availability Reserve in an amount equal to the excess, if any, of the aggregate principal outstanding amount of the Term Loan over the then current amount of the Term Facility Borrowing Base.