Foreign Exchange Reserve Percentage shall be a percentage as determined by Bank, in its sole discretion from time to time. The initial Foreign Exchange Reserve Percentage shall be ten percent (10%).
Foreign Exchange Reserve Percentage means a percentage of reserves for FX Contracts as determined by Bank, in its sole discretion from time to time.
Foreign Exchange Reserve Percentage shall be a percentage as determined by Bank, in its sole discretion from time to time. If at any time the Revolving Facility is terminated or otherwise ceases to exist, Borrower shall immediately secure in cash all obligations under the Foreign Exchange Sublimit on terms acceptable to Bank.
Examples of Foreign Exchange Reserve Percentage in a sentence
The initial Foreign Exchange Reserve Percentage shall be ten percent (10%).
The “FX Amount” shall equal the amount determined by multiplying (x) the aggregate amount, in Dollars, of FX Contracts between Borrowers and Bank remaining outstanding as of any date of determination by (y) the applicable Foreign Exchange Reserve Percentage as of such date.
More Definitions of Foreign Exchange Reserve Percentage
Foreign Exchange Reserve Percentage is defined in Section 2.1(c)(ii) hereof.
Foreign Exchange Reserve Percentage shall be a percentage as determined by each Lender, in its sole discretion from time to time. The initial Foreign Exchange Reserve Percentage shall be ten percent (10%). A reserve (the “FX Reserve”) shall be established against availability under the Borrowing Base in the aggregate FX Amount in effect from time to time. Each Lender shall advise the other Lenders and the Collateral Agent in writing promptly upon entering into an FX Contract with Borrower (with a copy to Borrower), specifying in such notice the FX Amount related to such Contract. Lenders shall be entitled to receive collection proceeds under Section 9.4 in respect of FX Contracts entered into by it with Borrowed up to the amount of the FX Reserve applicable to such FX Contracts (until the amount of such reserve has been exhausted) in the chronological order in which such contracts have been entered into. Once the amount of the FX Reserve has been exhausted, no additional collection proceeds shall be available for application against the Borrower’s Obligations under FX Contracts until all other Obligations have been paid and discharged in full.
Foreign Exchange Reserve Percentage shall be a percentage as determined by Lender, in its sole discretion from time to time. The initial Foreign Exchange Reserve Percentage shall be 10%. If at any time a Lender’s obligation to extend credit pursuant to the terms of this Agreement is terminated or otherwise ceases to exist, Borrower shall promptly secure in cash or provide on other terms reasonably acceptable to Lender all obligations under the Letter of Credit Sublimit or Foreign Exchange Sublimit.”
Foreign Exchange Reserve Percentage shall be a percentage as determined by Bank, in its reasonable discretion from time to time. The initial Foreign Exchange Reserve Percentage shall be ten percent (10%). If at any time the Revolving Line is terminated or otherwise ceases to exist, Borrower shall immediately secure to Bank’s satisfaction its obligations under the Ancillary Services Sublimit, and, effective as of such date, the balance in any deposit accounts held by Bank and the certificates of deposit issued by Bank in Borrower’s name (and any interest paid thereon or proceeds thereof, including any amounts payable upon the maturity or liquidation of such certificates), shall automatically secure such obligations to the extent of the then outstanding obligations under the Ancillary Services Sublimit. Borrower authorizes Bank to hold such balances in pledge and to decline to WEST\291919990.7 honor any drafts thereon or any requests by Borrower or any other Person to pay or otherwise transfer any part of such balances for so long as the Ancillary Services Usage continues.
Foreign Exchange Reserve Percentage shall be a percentage as determined by Lender, in its reasonable discretion from time to time and advised to Borrower. If at any time the EXIM Line of Credit is terminated or otherwise ceases to exist, Borrower shall immediately secure in cash all obligations under the Foreign Exchange Facility on terms reasonably acceptable to Lender or shall terminate its obligations under the Foreign Exchange Facility.
Foreign Exchange Reserve Percentage means a percentage of reserves for FX Contracts as determined by a Providing Lender, in its sole discretion from time to time. “Foreign Lender” means a Lender that is not a U.S. Person. “FSHCO” means a U.S. Person that is a Subsidiary, substantially all the assets of which consist (directly or indirectly) of equity interests (including any debt instrument treated as equity for U.S. federal income tax purposes) of, or such equity interests and obligations owed or treated as owed by, one or more (a) Subsidiaries that are CFCs or (b) entities otherwise described in this definition (i.e., tiers of FSHCOs). “Fund” means any Person (other than a natural person) that is (or will be) engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its business. “FX Contracts” means contracts between a Loan Party and a Providing Lender for foreign exchange transactions. “GAAP” means generally accepted accounting principles, consistently applied, as in effect from time to time in the United States. “Gaming” means sportsbook, casino, or other gambling activities. “Gaming” activity excludes fantasy sports activity. “Governmental Authority” means any nation or government, any state or other political subdivision thereof, any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative functions of or pertaining to government, any securities exchange and any self-regulatory organization. “Guarantee” by any Person means any obligation or liability, contingent or otherwise, of such Person directly or indirectly guaranteeing any Indebtedness or other obligation of any other Person as well as any obligation or liability, direct or indirect, contingent or otherwise, of such Person (a) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation or liability (whether arising by virtue of partnership arrangements, by agreement to keep well, to purchase assets, goods, securities or services, to operate property, to take or pay, or to maintain net worth or working capital or other financial statement conditions or otherwise) or (b) entered into for the purpose of indemnifying or assuring in any other manner the obligee of such Indebtedness or other obligation or liability of the payment thereof or to protect the obligee against loss in respe...
Foreign Exchange Reserve Percentage shall be a percentage as determined by Lender, in its sole discretion from time to time.