Faust's bind is desperate, with many reservations (3,3,4)

I believe the answer is:

ifs and buts

'many reservations' is the definition.

'faust's bind is desperate' is the wordplay.
'is desperate' indicates anagramming the letters.
'fausts'+'bind'='faustsbind'
'faustsbind' with letters rearranged gives 'IFS AND BUTS'.

'with' acts as a link.

(Another definition for ifs and buts that I've seen is " Uncertainties".)

I've seen this clue in The Guardian.

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