Excess Reserves Sample Clauses
Excess Reserves. 20 Section 5.4 Restrictions on Distributions..................................................................20 Section 5.5 Pre-Closing Claims.............................................................................20 Section 5.6
Excess Reserves. Any Reserves established by the Partnership, which were established from Available Net Cash Flow, and which Cedar GP determines shall no longer be required by the Partnership, shall be distributed to the Partners pursuant to the provisions of Section 5.1 (b) hereof, and any Reserves established by the Partnership which were established from Capital Event Proceeds, and which Cedar GP determines shall no longer be required by the Partnership, shall be distributed to the Partners pursuant to the provisions of Section 5.2(b) hereof.
Excess Reserves. (a) As of the end of each calendar quarter, the Debtor shall calculate the fair market value of the Assets held in the Collateral Accounts as of the last day of such quarter (such amount, the "Ending Asset Value") and the aggregate loss, loss adjustment expense reserves, unearned premium reserves, Retrocedant Ceding Commission and other reserves related to the Reinsurance Contracts as reflected in Debtor's management accounts, as of the last day of such quarter (the "Ending Reserves") and shall provide such calculation to the Secured Party within forty-five days of the end of such quarter.
(b) The excess of the Ending Reserves over the Ending Asset Value, if any, shall be the "Excess Reserves". To the extent the Ending Reserves exceed the Ending Asset Value, the Debtor shall within 3 Local Business Days deposit sufficient Qualifying Assets with a fair market value equal to such Excess Reserves. To the extent the Ending Asset Value exceeds the Ending Reserves, the Secured Party shall upon the Debtor's request, join the Debtor in instructing the Custodian to release Collateral with a fair market value equal to the amount of such excess, provided, however, that no Relevant Event has occurred and is continuing.
Excess Reserves. (a) As of the end of each calendar quarter, the Debtor shall calculate the fair market value of the Assets held in the Collateral Accounts as of the last day of such quarter (such amount, the "Ending Asset Value") and the aggregate loss, loss adjustment expense reserves, unearned premium reserves, Retrocedant Ceding Commission and other reserves related to the Reinsurance Contracts as reflected in Debtor's management accounts, as of the last day of such quarter (the "Ending Reserves") and shall provide such calculation to the Secured Party within forty-five days of the end of such quarter.
Excess Reserves. Section 2.8.4.
Excess Reserves. Any excess of bank balances at the Fed above the amount required as reserves.
Excess Reserves. From the date of this Agreement through the Closing Date (or, if earlier, the termination of this Agreement in accordance with Article VIII), each party hereto shall use its reasonable best efforts to, and cooperate with each other party hereto in the effort to, as soon as reasonably practicable, cause all Excess Reserves to be released and remitted to Seller. From and after the Closing Date, Buyer shall cause the Company and each of its applicable Subsidiaries to (a) use its reasonable best efforts to cause the Excess Reserve Amount to be released as soon as reasonably practicable, and (b) remit to Seller, as soon as reasonably practicable following receipt thereof (and in any event no later than five (5) Business Days following receipt), any portion of the Excess Reserve Amount received by Buyer, the Company or any of the Company’s Subsidiaries; provided, however, that, in the event that any portion of the Excess Reserve Amount has not been remitted to Seller by August 31, 2021, such remaining portion of the Excess Reserve Amount shall be paid by Buyer, the Company or any designee thereof (as applicable) to Seller on August 31, 2021 (regardless of whether such remaining Excess Reserve Amount has been released to the Company).
Excess Reserves. If the provision for an unmatured liability proves to have been excessive, then an amount equal to the difference between (i) the amount of the Reserve actually made for such liability and (ii) the amount of the Reserve which otherwise would have been made if the amount of the provision had equalled the amount of the liability which actually arose at maturity, shall form part of the Recoveries and shall be applied in accordance with the provisions of Clause 25.2 (Distribution of Recoveries).
Excess Reserves. The Enterprise Value computed by M▇▇▇▇▇ Capital reflects the value of ASC before considerations of capital structure. At the time of the First Closing, excess reserves (reserves in excess of $[***]) will be paid to the existing shareholders of record of ASC in the form of an ex-dividend. All other cash and cash equivalents, including but not limited to operational cash, as well as regular accounts payables and receivables will remain in ASC.