Establish Reserves Clause Samples
The "Establish Reserves" clause requires one or both parties to set aside funds or resources to cover potential future liabilities or obligations arising under the agreement. In practice, this may involve maintaining a specified amount in a separate account or earmarking assets to ensure that claims, damages, or other anticipated costs can be paid if they arise. This clause serves to provide financial security and assurance that sufficient resources will be available to meet contractual responsibilities, thereby reducing the risk of non-payment or default.
Establish Reserves. The Company shall establish such reserves for unknown or contingent liabilities as are appropriate.
Establish Reserves. Establish any reserve in such amount as is determined appropriate by the General Partner.
Establish Reserves establish and accumulate as part of the Trust Fund a reserve adequate, in the opinion of the Board, to carry out the purposes of the Trust Fund and Plan and to utilize the reserve from time to time as the Board deems appropriate;
Establish Reserves. Establish any reserve subject to the approved budget.
Establish Reserves. The County may establish a reserve for system emergencies, system replacement, or other purposes with the consent of the City.