Examples of Landlord Lien Reserve in a sentence
A "Landlord Lien Reserve" may apply under the circumstances described in the FNBB Facility.
It is understood by the parties hereto that, with respect to the Hong Kong Warehouse, the Landlord Lien Reserve shall be an amount equal to at least four (4) months rent for such facility, as such amount may be adjusted from time to time by the Facility Agent in accordance herewith.
Subject to the terms of this Agreement, DFS agrees, for so long as no Default exists, to provide to Borrower, and Borrower agrees to accept, financing (each advance being a "Revolving Credit Loan") on the Initial Advance, Eligible New Inventory and Eligible Used Inventory in the maximum aggregate unpaid principal amount at any time equal to the lesser of (i) the Borrowing Base and (ii) Forty Million Dollars ($40,000,000.00) less the Landlord Lien Reserve ("Total Revolving Credit Limit").