Common use of Minimum Reserve Balance Clause in Contracts

Minimum Reserve Balance. Seller shall maintain a reserve balance (the "Reserve Balance") equal to at least the sum of the following (the "Minimum Reserve Balance"): (i) the greater of (1) ten percent (10%) of the Face Amount of each such outstanding Eligible Client Account and (2) that portion of the Face Amount of such Eligible Client Account for which Greystone does not make an Advance hereunder, and (ii) 100% of the Face Amount of the outstanding Accounts which are not Eligible Client Accounts (other than Chargedback Accounts). (b)

Minimum Reserve Balance. Seller shall maintain a reserve balance (the "Reserve Balance") equal to at least the sum of the following (the "Minimum Reserve Balance"): (i) the greater of (1) ten percent (10%) of the Face Amount of each such outstanding Eligible Client Account and (2) that portion of the Face Amount of such Eligible Client Account for which Greystone does not make an Advance hereunder, and (ii) 100% of the Face Amount of the outstanding Accounts which are not Eligible Client Accounts (other than Chargedback Accounts). (b).