Credit Reserve definition

Credit Reserve of any Undivided Interest on any day means an amount determined in accordance with the definition of Credit Reserve in Appendix A.
Credit Reserve on any day means an amount determined in accordance with the definition of Credit Reserve in Appendix A.
Credit Reserve means, as of any date of determination, the aggregate amount by which the aggregate Receivable Balances of all Eligible Receivables of the largest number of Obligors (such number determined by applying the table below) exceed the product of (A) the aggregate Receivable Balances of all Eligible Receivables and (B) (1- the Advance Percentage): # of Obligors in the Program # of Largest Obligors to be covered by the Credit Reserve 120 3 100 4 80 5 60 6 50 7 40 8 20 10 15 or less 11

Examples of Credit Reserve in a sentence

  • Each Schedule sets forth the percentage of the annual debt service attributable to each Loan disbursement from the Loan Fund to be deposited in the Loan Credit Reserve Fund with respect to each Loan disbursement.

  • The amount of the Letter of Credit Reserve may be adjusted by Bank from time to time to account for fluctuations in the exchange rate.

  • The availability of funds under the Revolving Line shall be reduced by the amount of such Letter of Credit Reserve for as long as such Letter of Credit remains outstanding.

  • If, at any time, the sum of (a) the outstanding principal amount of any Advances (including any amounts used for Cash Management Services), plus (b) the face amount of any outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve), plus (c) the FX Reduction Amount exceeds the lesser of either the Revolving Line or the Borrowing Base, Borrower shall immediately pay to Bank in cash such excess.

  • The face amount of outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve) may not exceed the Availability Amount.


More Definitions of Credit Reserve

Credit Reserve shall have the meaning specified in Section 3.7.
Credit Reserve means an agreed credit attached to the Card with a pre-agreed credit limit.
Credit Reserve with respect to any Undivided Interest at any time means an amount equal to the greater of (1) the product of (i) the Purchaser's Investment of such Undivided Interest at such time divided by the Aggregate Purchaser's Investments at such time times (ii) $5,000,000 and (2) the product of (i) the Purchaser's Investment of such Undivided Interest at such time, times (ii) the greatest of (A) 18%, (B) the sum of (I) the Dilution Reserve, plus (II) the product of (1) two times (2) the highest Sales-Based Default Ratio to have occurred for the most recent twelve Month End Dates (or, if less, the number of months occurring from November of 1995 to the date of determination) times the quotient of (x) the cumulative xxxxxxxx over the most recent month and the preceding four months divided by (y) the aggregate Unpaid Balance of Eligible Receivables as of the most recent Month End Date and (C) the sum of (I) the Dilution Reserve, plus (II) the product of (1) 2.5 times (2) the highest Delinquency Ratio to have occurred for the most recent twelve Month End Dates (or, if less, the number of months occurring from November of 1995 to the date of determination).
Credit Reserve shall have the meaning set forth in Article 5.9.
Credit Reserve means, at any time, the sum of (a) the Cash Management Reserve, plus (b) the Foreign Exchange Reserve, plus the Specified Swap Reserve.
Credit Reserve at any time means an amount equal to the greater of (1) $5,000,000 and (2) the product of (i) the Total Purchasers' Investment at such time, times (ii) the greatest of (A) 40%, and (B) the sum of (I) the Dilution Reserve, plus (II) the product of (a) 2.25 times (b) the highest Sales-Based Default Ratio to have occurred for the most recent twelve Month End Dates times the quotient of (x) the cumulative billings over the most recent four months (provided that billings fox xxx xxst recent five months shall be used if required bx xxx Xxrchaser at any time) divided by (y) the aggregate Unpaid Balance of Eligible Receivables as of the most recent Month End Date.
Credit Reserve at any time means an amount equal to the greater of (1) $5,000,000 and (2) the product of (i) the Total Purchasers' Investment at such time, times (ii) the greatest of (A) 28%, (B) the sum of (I) the Dilution Reserve, plus (II) the product of (1) two times (2) the highest Sales-Based Default Ratio to have occurred for the most recent twelve Month End Dates times the quotient of (x) the cumulative billings over the most recent four months (provided that billings for txx xxxx recent five months shall be used if required by axx Xxxxxaser at any time) divided by (y) the aggregate Unpaid Balance of Eligible Receivables as of the most recent Month End Date and (C) the sum of (I) the Dilution Reserve, plus (II) the product of (1) 2.5 times (2) the highest Delinquency Ratio to have occurred for the most recent twelve Month End Dates.