Definition of Term Loan Deficiency Reserve

  1. Term Loan Deficiency Reserve means, at any time of calculation, a reserve against the Revolving Borrowing Base in an amount equal to the excess of the outstanding principal balance of the Term Loan over the Term Loan Borrowing Base.

Examples of Term Loan Deficiency Reserve in a sentence

  1. The Borrowers hereby acknowledge and agree that Agent requires that the ABL Revolver Agent impose the Term Loan Deficiency Reserve at any time subject to and in accordance with the Intercreditor Agreement.

Definition of Term Loan Deficiency Reserve in Term Loan Agreement

Term Loan Deficiency Reserve means, at any time of calculation, a reserve against the Revolving Borrowing Base in an amount equal to the excess of the outstanding principal balance of the Term Loan over the Term Loan Borrowing Base.