Common use of Reserve Amount Clause in Contracts

Reserve Amount. (a) In addition to any other limitations set forth in this Article 3, in the event that on any day the outstanding principal balance of all Flooring Loans, plus Flooring Swing Line Loans, plus requests for Flooring Loans and Flooring Swing Line Loans exceeds ninety-five percent (95%) of the Aggregate Flooring Loan Commitment as of such date, then until the next Business Day on which such condition no longer exists (i) a portion of the Aggregate Revolving Loan Commitment (the “Reserve Amount”) in an amount equal to the lesser of (A) Five Million Dollars ($5,000,000) or (B) an amount equal to the Maximum Revolving Loan Amount as of any date, minus the sum of the outstanding principal balance of the Revolving Loans, Revolving Swing Lines Loans and LC Obligations as of such date, shall be reserved and, except as set forth in Section 3.1.10 (b) shall no longer be available for funding Revolving Loans or Revolving Swing Line Loans or for issuance of Letters of Credit, and (ii) the Maximum Revolving Loan Amount shall be reduced by the amount of the Reserve Amount (i) Notwithstanding any contrary provision in Section 3.1.10(a), the Reserve Amount may be used to fund Revolving Loans and Revolving Swing Line Loans which are used to repay Flooring Swing Line Loans or Flooring Loans, so long as after giving effect to such Loans, the outstanding principal balance of the Revolving Loans, Revolving Swing Line Loans and LC Obligations does not exceed the Maximum Revolving Loan Amount (calculated without giving effect to reduction by the Reserve Amount); and (ii) if, after giving effect to any payment described in Section 3.1.10 (b) (i), the circumstances giving rise to the requirement for a Reserve Amount are still in effect, then the requirements and limitations in Section 3.1.10 (a) shall continue in effect, including without limitation the requirement to maintain the Reserve Amount and the restrictions on borrowing set forth therein.

Reserve Amount. (a) In addition to any other limitations set forth in this Article 34, in the event that on any day the outstanding principal balance of all Flooring New Vehicle Floorplan Loans, plus Flooring New Vehicle Swing Line Loans, plus requests for Flooring New Vehicle Floorplan Loans and Flooring New Vehicle Swing Line Loans exceeds ninety-five percent (95%) of the Aggregate Flooring New Vehicle Floorplan Loan Commitment as of such date, then until the next Business Day on which such condition no longer exists (i) a portion of the Aggregate Revolving Loan Commitment (the “Reserve Amount”) in an amount equal to the lesser of (A) Five Fifteen Million Dollars ($5,000,00015,000,000.00) or (B) an amount equal to the Maximum Revolving Loan Amount as of any date, minus the sum of the outstanding principal balance of the Revolving Loans, Revolving Swing Lines Loans and LC Obligations as of such date, shall be reserved and, except as set forth in Section 3.1.10 4.1.9 (b) shall no longer be available for funding Revolving Loans or Revolving Swing Line Loans or for issuance of Letters of Credit, and (ii) the Maximum Revolving Loan Amount shall be reduced by the amount of the Reserve Amount. (i) Notwithstanding any contrary provision in Section 3.1.10(a4.1.9(a), the Reserve Amount may be used to fund Revolving Loans and Revolving Swing Line Loans which are used to repay Flooring New Vehicle Swing Line Loans or Flooring New Vehicle Floorplan Loans, so long as after giving effect to such Loans, the outstanding principal balance of the Revolving Loans, Revolving Swing Line Loans and LC Obligations does not exceed the Maximum Revolving Loan Amount (calculated without giving effect to reduction by the Reserve Amount); and (ii) if, after giving effect to any payment described in Section 3.1.10 (b) (i4.1.9(b)(i), the circumstances giving rise to the requirement for a Reserve Amount are still in effect, then the requirements and limitations in Section 3.1.10 (a4.1.9(a) shall continue in effect, including without limitation the requirement to maintain the Reserve Amount and the restrictions on borrowing set forth therein.

Reserve Amount. (a) In addition to any other limitations set forth in this Article 34, in the event that on any day the outstanding principal balance of all Flooring New Vehicle Floorplan Loans, plus Flooring New Vehicle Swing Line Loans, plus requests for Flooring New Vehicle Floorplan Loans and Flooring New Vehicle Swing Line Loans exceeds ninety-five percent (95%) of the Aggregate Flooring New Vehicle Floorplan Loan Commitment as of such date, then until the next Business Day on which such condition no longer exists (i) a portion of the Aggregate Revolving Loan Commitment (the “Reserve Amount”) in an amount equal to the lesser of (A) Five Fifteen Million Dollars ($5,000,00015,000,000.00) or (B) an amount equal to the Maximum Revolving Loan Amount as of any date, minus the sum of the outstanding principal balance of the Revolving Loans, Revolving Swing Lines Loans and LC Obligations as of such date, shall be reserved and, except as set forth in Section 3.1.10 4.1.9 (b) shall no longer be available for funding Revolving Loans or Revolving Swing Line Loans or for issuance of Letters of Credit, and (ii) the Maximum Revolving Loan Amount shall be reduced by the amount of the Reserve Amount. (i) Notwithstanding any contrary provision in Section 3.1.10(a4.1.9(a), the Reserve Amount may be used to fund Revolving Loans and Revolving Swing Line Loans which are used to repay Flooring New Vehicle Swing Line Loans or Flooring New Vehicle Floorplan Loans, so long as after giving effect to such Loans, the outstanding principal balance of the Revolving Loans, Revolving Swing Line Loans and LC Obligations does not exceed the Maximum Revolving Loan Amount (calculated without giving effect to reduction by the Reserve Amount); and (ii) if, after giving effect to any payment described in Section 3.1.10 (b) (i4.1.9(b)(i), the circumstances giving rise to the requirement for a Reserve Amount are still in effect, then the requirements and limitations in Section 3.1.10 (a) shall continue in effect, including without limitation the requirement to maintain the Reserve Amount and the restrictions on borrowing set forth therein.87 110393723.6 0063724-00082 115525625.4 0063724-00082

Reserve Amount. (a) In addition to any other limitations set forth in this Article 34, in the event that on any day the outstanding principal balance of all Flooring New Vehicle Floorplan Loans, plus Flooring New Vehicle Swing Line Loans, plus requests for Flooring New Vehicle Floorplan Loans and Flooring New Vehicle Swing Line Loans exceeds ninety-five percent (95%) of the Aggregate Flooring New Vehicle Floorplan Loan Commitment as of such date, then until the next Business Day on which such condition no longer exists (i) a portion of the Aggregate Revolving Loan Commitment (the “Reserve Amount”) in an amount equal to the lesser of (A) Five Fifteen Million Dollars ($5,000,00015,000,000) or (B) an amount equal to the Maximum Revolving Loan Amount as of any date, minus the sum of the outstanding principal balance of the Revolving Loans, Revolving Swing Lines Loans and LC Obligations as of such date, shall be reserved and, except as set forth in Section 3.1.10 (b) shall no longer be available for funding Revolving Loans or Revolving Swing Line Loans or for issuance of Letters of Credit, and (ii) the Maximum Revolving Loan Amount shall be reduced by the amount of the Reserve Amount85 13483422v8 (i) Notwithstanding any contrary provision in Section 3.1.10(a4.1.9(a), the Reserve Amount may be used to fund Revolving Loans and Revolving Swing Line Loans which are used to repay Flooring New Vehicle Swing Line Loans or Flooring New Vehicle Floorplan Loans, so long as after giving effect to such Loans, the outstanding principal balance of the Revolving Loans, Revolving Swing Line Loans and LC Obligations does not exceed the Maximum Revolving Loan Amount (calculated without giving effect to reduction by the Reserve Amount); and (ii) if, after giving effect to any payment described in Section 3.1.104.1.9 (bi) (i), the circumstances giving rise to the requirement for a Reserve Amount are still in effect, then the requirements and limitations in Section 3.1.104.1.9 (a) shall continue in effect, including without limitation the requirement to maintain the Reserve Amount and the restrictions on borrowing set forth therein.. 4.2