Rent Reserve definition

Rent Reserve means, with respect to any plant, warehouse distribution center or other operating facility where any Inventory subject to landlords’ Liens or other Liens arising by operation of law is located and a Collateral Access Agreement has not been duly executed and delivered by the lessor or bailee at such location, a reserve equal to three (3) month’s rent at such plant, warehouse distribution center, or other operating facility, and such other reserve amounts that may be determined by the Administrative Agent in its reasonable discretion.

Rent Reserve means with respect to any leased facility, warehouse, distribution center, depot or other place where any Inventory is located, a reserve equal to three (3) months’ rent at such leased facility, warehouse, distribution center, depot or other place.

Rent Reserve with respect to any store, warehouse distribution center, regional distribution center or depot where any Inventory subject to Liens arising by operation of law is located, a reserve equal to three months’ rent at such store, warehouse distribution center, regional distribution center or depot.

Examples of Rent Reserve in a sentence

• The escrow agreement (the “Escrow Agreement”) pursuant to which the Rent Reserve will be deposited and administered (subject to the proposed Initial Order) is appended as Exhibit “E” to the McCullagh Affidavit.

• The amount of the Rent Reserve is equal to the sum of the forecast rent obligations of the Applicants for the one-month period following the commencement of the CCAA Proceedings, excluding rent obligations for the 30-day notice period applicable to leases the Applicants intend to disclaim promptly after obtaining the proposed Initial Order and payments for leases expiring at the end of this month which the Applicants do not intend to renew.

• In the event any Individual Opco or franchisee fails to pay its monthly rent following the commencement of the CCAA Proceedings (e.g. post-filing period rent), YGC, on behalf of the applicable Applicant, will have the ability to direct the Monitor to pay the applicable lease payment from the Rent Reserve on behalf of SAR Real Estate or the applicable Individual Leaseco, subject to the terms of the Escrow Agreement.

• However, according to the taxpayers, Partnership never established the Contingent Rent Reserve Accounts because there were never any excess rents.

• The originally approved Congestion Reduction Proposal included a proposal to create optional individual Congestion Rent Reserve Funds for each TO in order to smooth out TSC/NTAC charges.

More Definitions of Rent Reserve

Rent Reserve means, a reserve established by the Administrative Agent in an amount up to the latest 60 days rent payments made by any Loan Party for each location at which Inventory, Equipment or Transportation Equipment of such Loan Party is located that is not subject to a Collateral Access Agreement, as such amount may be adjusted from time to time by the Administrative Agent in its Reasonable Credit Judgment.

Rent Reserve means, with respect to any store, warehouse distribution center, regional distribution center or depot where any Inventory subject to Liens arising by operation of law is located, a reserve equal to two (2) months’ rent at such store, warehouse distribution center, regional distribution center or depot.

Rent Reserve means a reserve established by the Administrative Agent in respect of rent payments made by the Borrower or a Subsidiary Guarantor for each location at which Inventory of the Borrower or a Subsidiary Guarantor is located that is not subject to a Third Party Agreement equal to three times the monthly gross rent or warehouse payments for each such location, as adjusted from time to time by the Administrative Agent in its Permitted Discretion.

Rent Reserve means, with respect to any store, warehouse distribution center, regional distribution center or depot where any Eligible Equipment subject to Liens arising by operation of law is located (other than any Eligible Equipment with respect to which Agent has determined that such Liens have been waived or subordinated to Agent’s reasonable satisfaction pursuant to a landlord waiver, bailee letter or comparable agreement), a rent reserve not in excess of three (3) months’ rent (or for such longer time period that is determined by Agent in its Permitted Discretion as reasonably necessary to protect and/or realize upon the Collateral located at any) at such store, warehouse distribution center, regional distribution center or depot.

Rent Reserve on any date, with respect to any retail store, distribution center, warehouse, or other location where any Eligible Inventory subject to a Lien arising by operation of contract and/or law is located and with respect to which no Landlord Waiver is in effect, a reserve equal to three months' rent at such retail store, distribution center, warehouse, or other location.

Rent Reserve means, with respect to any plant, warehouse distribution center or other operating facility where any Inventory or machinery and equipment subject to Liens arising by operation of law is located (including landlords’ Liens), a reserve equal to one (1) month’s rent (or such longer period (not to exceed two (2) months’ rent) as the Agent may determine in its Permitted Discretion) at such plant, warehouse distribution center, or other operating facility.

Rent Reserve means a reserve for rent at leased locations subject to landlords liens, past due rent, and up to three months future rent that would be payable to a landlord that has not executed and delivered a Collateral Access Agreement,. established by Bank in its Permitted Discretion. Credit Agreement