UK Bank Product Reserve definition

UK Bank Product Reserve the aggregate amount of reserves established by Agent from time to time in its Permitted Discretion in respect of Secured Bank Product Obligations for the account of the UK Domiciled Obligors and any Affiliate thereof domiciled in the UK.

UK Bank Product Reserve the aggregate amount of reserves established by Agent from time to time in its discretion in respect of Secured Bank Product Obligations owing by the U.K. Domiciled Obligors and their Subsidiaries. U.K. Base Rate: for any day, the reference rate for U.K. Base Rate Loans, being U.S. Prime Rate. U.K. Base Rate Loan: a U.K. Revolver Loan, or portion thereof, funded in Dollars and bearing interest calculated by reference to U.K. Base Rate. U.K. Borrower: as defined in the preamble to this Agreement, provided that Callaway Golf Europe Limited as the U.K. Borrower shall not borrow any U.K. Revolver Loan or request any U.K. Letter of Credit under this Agreement until the U.K. Closing Date. U.K. Borrowing Base: on any date of determination, an amount equal to the lesser of (a) the Maximum U.K. Facility Amount, minus the U.K. LC Reserve, or (b) the sum of the U.K. Accounts Formula Amount, plus the U.K. Inventory Formula Amount, minus the U.K. Availability Reserve. U.K. Borrowing Base Certificate: a certificate, in form and substance satisfactory to Agent, by which the U.K. Borrower certifies calculation of the U.K. Borrowing Base. U.K. Cash Collateral Account: a demand deposit, money market or other account established by Agent at Bank of America, N.A. (London Branch) or such other financial institution as Agent may select in its discretion, which account shall be for the benefit of the U.K. Facility Secured Parties and shall be subject to Agent’s Liens securing the U.K. Facility Obligations.

UK Bank Product Reserve at any time with respect to Secured Bank Product Obligations for the account of the UK Domiciled Loan Parties and their Subsidiaries, an amount equal to the sum of (a) the maximum amount of the then outstanding Qualified Secured Bank Product Obligations for the account of the UK Domiciled Loan Parties and their Subsidiaries owing (i) to Bank of America and its Affiliates as determined by the Agent in its reasonable discretion and (ii) to any other Secured Bank Product Provider as set forth in the notice delivered by such Secured Bank Product Provider providing such Bank Product and the UK Loan Party Agent to the Agent in accordance with the definition of Secured Bank Product Provider and (b) with respect to any other Secured Bank Product Obligations for the account of the UK Domiciled Loan Parties and their Subsidiaries, reserves established by the Agent from time to time in its Permitted Discretion to reflect the reasonably anticipated liabilities in respect of the then outstanding Secured Bank Product Obligations for the account of the UK Domiciled Loan Parties and their Subsidiaries.

Examples of UK Bank Product Reserve in a sentence

• Bank Product Reserve: US Bank Product Reserve or UK Bank Product Reserve, as the context requires.

• U.K. Bank Product Reserve: the aggregate amount of reserves established by Agent from time to time in its discretion in respect of Secured Bank Product Obligations owing by the U.K. Domiciled Obligors and their Subsidiaries.

• UK Bank Product Reserve: the aggregate amount of reserves established by Agent from time to time in its Permitted Discretion with respect to Secured Bank Product Obligations of UK Borrower.

• Bank Product: US Bank Product or UK Bank Product, as the context requires.Bank Product Reserve: US Bank Product Reserve or UK Bank Product Reserve, as the context requires.

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• US Bank Product Reserve or UK Bank Product Reserve, as the context may indicate.

• It is also possible that the growing labor income inequality made top labor incomes more attractive for the capital-rich, who were less incentivized to engage with the labor market while labor income inequality was relatively low.

• UK Bank Product Reserve: the aggregate amount of reserves established by Agent from time to time in its Permitted Discretion in respect of Secured Bank Product Obligations of UK Borrower.