Availability Reserve. A reserve against Availability determined by Bank in its sole discretion from time to time to reflect events, conditions, contingencies or risks or other loans of Bank which without limitation do or may affect the Collateral Loan Value, the business prospects of Borrower or any Account Debtor, or the security interest of Bank, including enforceability, perfection and the priority thereof.
Availability Reserve. Reference is made to that certain Amendment to Account Purchase Agreement and Other Documents entered into, effective as of October 1, 2012, by and between the Customer and WFBC (the “CHOICE Amendment”). Section 2(a)(2) of the CHOICE Amendment states that WFBC may establish reserves, in its sole discretion, with respect to the Available Amount (as that term is defined in the CHOICE Amendment). The Customer acknowledges that, as of the date hereof, for the purpose of determining the Available Amount (as that term is defined in the CHOICE Amendment) under this Agreement and each Affiliate Account Purchase Agreement, WFBC is establishing a reserve in an aggregate amount equal to $2,000,000, which amount may be increased or decreased by WFBC from time to time in its sole discretion.
Availability Reserve. Lender agrees that the Availability Reserve -------------------- established to address discrepancies in inventory reporting by the Borrowers shall be reduced from five Hundred Thousand Dollars ($500,000.000) to Three Hundred and Fifty Thousand Dollars ($350,000.000).
Availability Reserve. Notwithstanding anything to the contrary set forth herein or in the Credit Agreement, as of the Third Amendment Effective Date, the Agent shall remove any Availability Reserve for the “Event Payments” (as such term is defined in the Securities Purchase Agreement), until earlier to occur of (a) October 31, 2013, and (b) if Agent elects, the occurrence and continuance of a Default or Event of Default, provided, that once the Convertible Notes are converted into Equity Interests in accordance with Section 3(a) of such Convertible Notes and the Loans are prepaid in accordance with Section 6.13(g) any such Availability Reserve shall be removed.
Availability Reserve. The "Availability Reserve" under and as defined in the Revolving Credit Agreement. BALANCE SHEET DATE. September 30, 2006.
Availability Reserve. In connection with the consent provided for herein, Lender shall, upon the consummation of the sale of Pipe Mill Equipment contemplated by the Purchase Agreement, establish an Availability Reserve equal to $1,500,000 in accordance with Section 1.4 of the Loan Agreement to reduce the amount of Supplemental Revolving Loans otherwise available to Borrower.
Availability Reserve. The parties hereto agree that in addition to any other Reserves established pursuant to this Agreement, if, on or prior to January 31, 2008, the maturity date of the Term Loan Obligations pursuant to the Term Loan Agreement has not been extended to or beyond July 8, 2010 (the “Term Loan Extension”), the Inventory and Receivables Security Agent shall establish: (i) on February 1, 2008, a Reserve on Borrowing Availability equal to fifty percent (50%) of the Term Loan Obligations outstanding on such date and (ii) beginning March 1, 2008, a monthly Reserve equal to 1/6 of the Term Loan Obligations outstanding on such date less the Reserve established in clause (i) hereof, for the immediately succeeding six (6) month period; provided, that any Reserve implemented pursuant to this Section 1.18 shall be released at such time as the Term Loan Extension has been completed in a manner reasonably satisfactory to the Inventory and Receivables Security Agent.
Availability Reserve. The Loan Parties hereby acknowledge that as of April 28, 2021, the Availability Reserve relating to potential accounts payable lien offsets (the “AP Lien Offset Reserve”) has been increased from $2,869,000 to $9,113,000.
Availability Reserve. In order to induce Lender to enter this Amendment, each Borrower hereby acknowledges that as of the date hereof, Lender shall establish and maintain a permanent reserve against the Revolving Loan Limit in an amount equal to $300,000 and increasing by $50,000 on first Business Day of each week thereafter until the amount of such permanent reserve equals $500,000.
Availability Reserve. The definition of “Availability Reserve” set forth in the Loan Agreement is hereby amended by deleting such definition in its entirety and replacing it with the following: “ ‘Availability Reserve’ means the amount of $2,000,000; provided, that, such amount shall increase by $50,000 on the first Business Day of each week (commencing on the first Business Day of the first week following the Sixth Amendment Effective Date) until such time as the amount of the Availability Reserve equals $3,000,000.”
