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 an amount, at any time of calculation, equal to the difference (if positive) between (a) the then outstanding principal amount of Term Loans (as defined in the Term Loan Credit Agreement) and (b) the Term Loan Borrowing Base as reflected in the most recent Borrowing Base Certificate furnished by the Borrowers pursuant to this Agreement.

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:

Examples of Term Loan Reserve in a sentence

• Revolving fund to support financing of incremen- tal investment costs 10.

• Notwithstanding the foregoing, (i) any Excess Closing Date Cash on the Closing Date shall be deposited into the Controlled Account and (ii) on the Closing Date, the Target Term Loan Reserve Amount shall be deposited in to the Target Term Loan Reserve Account.

• For the avoidance of doubt, upon satisfaction of the obligations under clause (i) or (ii) of this Section 6.19, as applicable, any remaining funds held in the Target Term Loan Reserve Account shall be released to the Borrower.

• Subject to the two (2) Business Day period of time for the ABL Agent to implement any required adjustments, the ABL Agent shall adjust the Term Loan Reserve under the ABL Credit Agreement as set forth therein.

• Each of the Term Credit Parties and the Loan Parties agrees that no ABL Credit Party shall have any liability for relying on the calculation of the Term Loan Reserve as set forth in a Borrowing Base Certificate delivered by the Loan Parties or in the Term Loan Reserve Correction Notice delivered by the Term Agent, as the case may be.

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

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

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 “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, at any time, a reserve in an amount equal to the sum of (i) the then outstanding balance of the Term Loans and interest accrued and unpaid thereon PLUS (ii) the then outstanding balance of Loans made under the Acquisition Subfacility and interest accrued and unpaid thereon.