Reasonable Reserves Clause Samples
The Reasonable Reserves clause allows a party, typically an insurer or financial institution, to set aside funds that are deemed necessary to cover potential future liabilities or claims. In practice, this means the party can withhold or allocate a portion of available funds to ensure that any anticipated obligations, such as pending claims or unresolved disputes, are adequately covered. This clause serves to protect the reserving party from unexpected financial shortfalls and ensures that sufficient resources are available to meet future obligations, thereby reducing the risk of underfunding and promoting financial stability.
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Reasonable Reserves. (i) Fox may establish and maintain reasonable reserves for anticipated costs, charges and/or revaluations, including bad debts, returns and defectives, which reserves shall not exceed 20% of Gross Receipts.
(ii) Any reserves taken hereunder shall be liquidated periodically, pursuant to Fox's then-current accounting practices and policies but in no event less often than every 12 months.
Reasonable Reserves. Regardless of a contrary Bylaw, and to meet the Cooperative’s reasonable needs, the Cooperative may accumulate and retain amounts exceeding those needed to meet current losses and expenses (“Reasonable Reserves”). The Cooperative must keep records necessary to determine, at any time, each Member’s rights and interest in Reasonable Reserves.
Reasonable Reserves. The Managing Partner shall establish, maintain and expend Reasonable Reserves to provide for Debt Service and ongoing Operating Expenses of the Company, and for such other purposes as in the exercise of his or her reasonable business judgment he or she may deem necessary or advisable or which may be approved by a Resolution.
Reasonable Reserves. The Manager shall establish and maintain out of Company funds reasonable reserves for working capital, capital expenditures and to pay other costs and expenses incident to ownership of the Properties and for such other Company purposes as the Manager deems appropriate, all as provided for and in accordance with the Annual Plan.
Reasonable Reserves. The Managing General Partner shall establish and maintain out of Partnership funds reasonable reserves for periodic expenses such as real property taxes and assessments and insurance premiums, working capital, capital expenditures and to pay other costs and expenses incident to ownership of the Qualified Properties and for such other Partnership purposes as the Managing General Partner deems appropriate, all as provided for and in accordance with the Annual Plan.
Reasonable Reserves. The Managing Partner may establish, maintain and expend Reasonable Reserves to provide for Debt Service and ongoing Operating Expenses of the Company, and for such other purposes as in the exercise of his or her reasonable business Fourth Amended and Restated Operating Agreement of CGCN Group, LLC dated as of January 1, 2018 Schedules, exhibits, charts & graphic materials used to explain every section of this agreement are on pages 36-44 6/27/18 judgment he or she may deem necessary or advisable or which may be approved by a Resolution.
Reasonable Reserves. The Managing General Partner shall cause (i) each SP Subsidiary to establish and maintain out of revenues received by such SP Subsidiary reasonable reserves for periodic expenses such as real property taxes and assessments and insurance premiums, working capital, capital expenditures and to pay other costs and expenses incident to ownership of the Qualified Property owned by such SP Subsidiary and (ii) the Partnership to establish and maintain out of Partnership funds reasonable reserves for such other Partnership purposes as the Managing General Partner deems appropriate, all as provided for and in accordance with the Annual Plan.
Reasonable Reserves. Licensee shall set aside reasonable reserves of core and replenishment products in amounts reasonably necessary to satisfy the WHP E-Com Operator’s projected sales volumes through a Branded E-Com Site, on an ongoing rolling basis of projected operations. Projections shall be determined by the parties collaboratively, using Licensee’s planning teams to formulate reasonable projections based on relevant variables such as sales trends and projected growth plans. Licensee shall work with the WHP E-Com Operator to integrate and implement a system designed to provide the parties with just-in-time inventory updates.
Reasonable Reserves. After the Closing, the Shareholders will (i) maintain no less than $500,000 for 12 months after Closing to satisfy all obligations under this Agreement and in connection with the Excluded Liabilities (the “Reserve Amount”); (ii) (without limitation to any other obligations set forth in this Agreement) upon request of Buyer, from time to time, shall provide Buyer with reasonable evidence for Buyer to monitor Shareholders’ compliance with this Section 7(c); and (iii) provide bank account statements reflecting compliance with the foregoing clause (i) as of June 16, 2015, September 15, 2015, December 15, 2015, March 15, 2016 and June 15, 2016 . The Reserve Amount shall be maintained by the Shareholders in their own personal accounts. Each Shareholder shall be responsible only for maintaining an amount equal to their proportionate share of the Reserve Amount, as determined by reference to the Shareholder’s relative share ownership in ▇▇▇▇ at the time of Closing.