Required Reserve Sample Clauses

Required Reserve. 16 (cb) Reserve Rate . . . . . . . . . . . . . . . . . . . . . . . 16 (cc) Responsible Officer. . . . . . . . . . . . . . . . . . . . 16 (cd) Secured Loans. . . . . . . . . . . . . . . . . . . . . . . 16 (ce) Secured Loan Rights. . . . . . . . . . . . . . . . . . . . 17 (cf) Security Interest. . . . . . . . . . . . . . . . . . . . . 17 (cg) Seller . . . . . . . . . . . . . . . . . . . . . . . . . . 17 (ch) Seller Receivable. . . . . . . . . . . . . . . . . . . . . 17 (ci) Seller Receivable Value. . . . . . . . . . . . . . . . . . 18 (cj) Seller Reimbursable Amount . . . . . . . . . . . . . . . . 18 (ck) Settlement Date. . . . . . . . . . . . . . . . . . . . . . 18 (cl) Settlement Period. . . . . . . . . . . . . . . . . . . . . 18 (cm) Significant Event. . . . . . . . . . . . . . . . . . . . . 18 (cn) Subsidiary . . . . . . . . . . . . . . . . . . . . . . . . 18 (co) Successor Collector. . . . . . . . . . . . . . . . . . . . 18 (cp) Terms Schedule . . . . . . . . . . . . . . . . . . . . . . 18 (cq) Transaction. . . . . . . . . . . . . . . . . . . . . . . . 18 (cr) Trust Indenture. . . . . . . . . . . . . . . . . . . . . . 18 1.2 Headings. . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 1.3 References to Sections and Exhibits.. . . . . . . . . . . . . . 19 1.4
Sample 1
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Required Reserve. The Company covenants that all shares of Common Stock that shall be issuable will. upon issue, be duly authorized. validly issued. fully-paid, non-assessable and freely-tractable (if eligible). If the amount of shares on reserve in Holder’s nan1e at the Company’s transfer agent for this Note shall drop below the Required Reserve. the Company will. within 2 Trading Days of notification from Holder. instruct the transfer agent to increase the number of shares so that the Required Reserve is met. In the event that the Company does not instrnct the transfer agent to increase the number of shares so that the Required Reserve is met, the Holder will be allowed. if applicable, to provide this instruction as per the terms of the Irrevocable Transfer Agent Instructions attached to this Note. The Company agrees that the maintenance of the Required Reserve is a material term of this Note and any breach of this Section l .00(e) will result in a default of the Note.
Sample 1
Required Reserve. Permit at any time the Required Reserve to be less than the lesser of (a) the amount, if any, by which the aggregate Net Proceeds realized from any Asset Disposition by SEI or any of its Subsidiaries permitted pursuant to Section 10.6(f) or (g), or otherwise consented to by the Required Lenders to the extent a prepayment is made under Section 2.7, after the Closing Date exceeds $75,000,000, and (b) the outstanding principal amount of the Applicable Retained Notes as of such date; provided however, that in no event during any of the respective periods set forth below (and regardless of whether any Asset Dispositions shall have been consummated by SEI or any of its Subsidiaries) shall the Required Reserve be less than the amount (expressed as a percentage of the then-outstanding principal amount of the Applicable Retained Notes) set forth opposite each such period: 105 Period Percentage of Applicable Retained Notes Closing Date through June 29, 2002 0% June 30, 2002 through October 31, 2002 25% November 1, 2002 through January 31, 2003 50% February 1, 2003 through April 30, 2003 75% May 1, 2003 and thereafter 100%
Sample 1
Required Reserve. 10 ARTICLE III. SETTLEMENTS
Sample 1
Required Reserve. The "Required Reserve" for any Undivided Interest on any day means an amount determined as follows: RR = RP x I where RR = the Required Reserve for such Undivided Interest at the time of computation; RP = the Reserve Percentage which, as to each Undivided Interest at the time of such computation, shall be the quotient (expressed as a percentage) obtained by dividing (x), the greater of (i) 12%, (ii) four times the Normal Concentration Percentage and (iii) 2.25 times the product of (a) the Loss Ratio, (b) the Loss Horizon Ratio and (c) the Payment Terms Multiplier, by (y) 1 minus the percentage determined pursuant to clause (x) above; and I = the Investment in such Undivided Interest at the time of such computation, as determined pursuant to Section 2.02.
Sample 1
Required Reserve upon Borrower's request from time to time, the Administrative Agent may agree to a higher percentage of the Eligible Receivables Net Balance for a particular Obligor and its Affiliates (each such higher percentage, a "Special Concentration Limit"), it being understood that any Special Concentration Limit may be cancelled by the Administrative Agent upon not less than ten (10) Business Days' prior written notice to the Loan Parties.
Sample 1
Required Reserve. On any day during a Calculation Period, the product of (i) the greater of (A) the Required Reserve Factor Floor and (B) the sum of the Loss Reserve, the Yield Reserve, the Dilution Reserve and the Servicing Reserve, times (ii) the Net Pool Balance as of the Cut-Off Date immediately preceding such Calculation Period.
Sample 1
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Related to Required Reserve

  • Required Reserve Amount So long as this Warrant remains outstanding, the Company shall at all times keep reserved for issuance under this Warrant a number of shares of Common Stock at least equal to 100% of the maximum number of shares of Common Stock as shall be necessary to satisfy the Company’s obligation to issue shares of Common Stock under the Warrants then outstanding (without regard to any limitations on exercise) (the “Required Reserve Amount”); provided that at no time shall the number of shares of Common Stock reserved pursuant to this Section 1(g) be reduced other than in connection with any exercise of Warrants or such other event covered by Section 2(c) below. The Required Reserve Amount (including, without limitation, each increase in the number of shares so reserved) shall be allocated pro rata among the holders of the Warrants based on the number of shares of Common Stock issuable upon exercise of Warrants held by each holder thereof on the Issuance Date (without regard to any limitations on exercise) (the “Authorized Share Allocation”). In the event that a holder shall sell or otherwise transfer any of such holder’s Warrants, each transferee shall be allocated a pro rata portion of such holder’s Authorized Share Allocation. Any shares of Common Stock reserved and allocated to any Person which ceases to hold any Warrants shall be allocated to the remaining holders of Warrants, pro rata based on the number of shares of Common Stock issuable upon exercise of the Warrants then held by such holders thereof (without regard to any limitations on exercise).

  • Disbursements from Replacement Reserve Account (a) Lender shall make disbursements from the Replacement Reserve Account to pay Borrower only for the costs of the Replacements. Lender shall not be obligated to make disbursements from the Replacement Reserve Account to reimburse Borrower for the costs of routine maintenance to the Property or for costs which are to be reimbursed from the Required Repair Fund (if any).

  • Required Records The Company will maintain at its principal place of business such books, records and other materials as are reasonably necessary to document and account for its activities, including, without limitation, those required to be maintained by the Act.

  • Reserve Account Draw Amount On or before two Business Days before a Payment Date, the Servicer will calculate the Reserve Account Draw Amount for the Payment Date and will direct the Indenture Trustee to withdraw from the Reserve Account and deposit the Reserve Account Draw Amount into the Collection Account on or before the Payment Date.

  • Availability Reserves All Revolving Loans otherwise available to Borrower pursuant to the lending formulas and subject to the Maximum Credit and other applicable limits hereunder shall be subject to Lender's continuing right to establish and revise Availability Reserves.

  • Targeted Deposits to the Accumulation Reserve Account The deposit targeted to be made to the Accumulation Reserve Subaccount for the Class A(2018-5) Notes for any Due Period during the Accumulation Reserve Funding Period will be an amount equal to the Targeted Accumulation Reserve Subaccount Deposit minus any amount on deposit in the Accumulation Reserve Subaccount for the Class A(2018-5) Notes.

  • Debt Service Reserve Account Borrower shall fund and maintain a debt service reserve in the Debt Service Reserve Account, in an amount equal to twelve (12) monthly payments of principal and interest on the Term Loan as determined from time to time by the Lender (the “Debt Service Reserve Amount”). Beginning with the first fiscal year end after the Effective Date, and at each fiscal year end thereafter, until such time as the balance in the Debt Service Reserve Account is equal to or greater than the Debt Service Reserve Amount, one hundred percent (100%) of Excess Cash Flow shall be deposited in the Debt Service Reserve Account by Borrower within 120 days of each fiscal year end. The balance held in the Debt Service Reserve Account shall earn interest at the rate determined by the Lender from time to time. If at any time after the Debt Service Reserve Amount has been fully funded by the Borrower the balance in the Debt Service Reserve Account is less than sixty-seven percent (67.0%) of the applicable Debt Service Reserve Amount, the Borrower shall, within sixty (60) days after receipt of notice from the Lender as provided herein, deposit in the Debt Service Reserve Account an amount sufficient to restore the balance in the Debt Service Reserve Account to an amount not less than the Debt Service Reserve Amount; provided, however, Borrower shall not be required to make a deposit in the Debt Service Reserve Account to the extent that such a deposit would exceed one hundred percent (100%) of Excess Cash Flow, calculated based upon unaudited monthly financial statements required by Section 5.01(c)(ii) of this Agreement for the month ending immediately prior to receipt of notice from the Lender. In the event that Borrower is not required to fully restore the balance in the Debt Service Reserve Account pursuant to the foregoing sentence, Borrower shall at the earliest possible date thereafter, to the extent of Excess Cash Flow determined on unaudited monthly financial statements required by Section 5.01(c)(ii) of this Agreement or audited financial statements required by Section 5.01(c)(i) of this Agreement, as applicable, deposit in the Debt Service Reserve Account such additional amounts as will restore the balance in the Debt Service Reserve Account to an amount not less than the Debt Service Reserve Amount. As and when any of the Loan Obligations are past due, after any applicable grace periods have expired, under any Loan Document, Lender, in its sole discretion, may withdraw from the Debt Service Reserve Account the amount of the then past due Loan Obligations and apply such amounts to the payment of the past due Loan Obligations. Notwithstanding the foregoing sentence, if an Event of Default has occurred and is continuing under the Loan Documents, the Lender may, after any applicable grace periods have expired, withdraw amounts in the Debt Service Reserve Account, in its sole discretion, and apply such amounts to the payment of the Loan Obligations in such order and manner as Lender shall determine in its sole discretion. Withdrawals by the Lender of any amounts from the Debt Service Reserve Account to pay any Loan Obligations as provided in this Section 2.14 may be made without the requirement of any consent by or notice to the Borrower, provided that Lender shall provide to Borrower notice that such withdrawal was made within a reasonable time thereafter. Borrower recognizes and acknowledges that its obligation to pay the Loan Obligations are absolute and unconditional and it is not dependent upon sufficient deposits in the Debt Service Reserve Account being available to make payment on any Loan Obligations, and nothing herein shall be construed to negate or modify the Borrower’s absolute and unconditional obligation to pay the Loan Obligations in accordance with the terms and conditions of this Agreement and the Loan Documents. Borrower shall execute and deliver to the Lender any and all deposit account control agreements the Lender may reasonably request in accordance with the terms and conditions of the Loan Documents, and take all actions and deliver all documents the Lender may reasonably request or require to perfect the Lender’s security interest in the Debt Service Reserve Account, in accordance with the terms and conditions of the Loan Documents.

  • Release of Required Repair Funds Lender shall disburse to Borrower the Required Repair Funds from the Required Repair Account from time to time upon satisfaction by Borrower of each of the following conditions: (i) Borrower shall submit a written request for payment to Lender at least fifteen (15) days prior to the date on which Borrower requests such payment be made and specifies the Required Repairs to be paid, (ii) on the date such request is received by Lender and on the date such payment is to be made, no Default or Event of Default shall exist and remain uncured, (iii) Lender shall have received a certificate from Borrower (A) stating that all Required Repairs at the Property to be funded by the requested disbursement have been completed in good and workmanlike manner and in accordance with all applicable federal, state and local laws, rules and regulations, such certificate to be accompanied by a copy of any license, permit or other approval by any Governmental Authority required to commence and/or complete the Required Repairs, (B) identifying each Person that supplied materials or labor in connection with the Required Repairs performed at the Property to be funded by the requested disbursement under a contract in excess of $50,000, and (C) stating that each Person who has supplied materials or labor in connection with the Required Repairs to be funded by the requested disbursement has been paid in full or will be paid in full upon such disbursement, such certificate to be accompanied by lien waivers or other evidence of payment satisfactory to Lender, (iv) at Lender’s option, a title search for the Property indicating that the Property is free from all liens, claims and other encumbrances not previously approved by Lender, and (v) Lender shall have received such other evidence as Lender shall reasonably request that the Required Repairs at the Property to be funded by the requested disbursement have been completed and are paid for or will be paid upon such disbursement to Borrower. Lender shall not be required to make disbursements from the Required Repair Account with respect to the Property more than once each calendar month and such disbursement shall be made only upon satisfaction of each condition contained in this Section 7.1.2.

  • Additional Reserve Requirements The Company shall pay (or cause the applicable Designated Borrower to pay) to each Lender, (i) as long as such Lender shall be required to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional interest on the unpaid principal amount of each Eurocurrency Rate Loan equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), and (ii) as long as such Lender shall be required to comply with any reserve ratio requirement or analogous requirement of any other central banking or financial regulatory authority imposed in respect of the maintenance of the Commitments or the funding of the Eurocurrency Rate Loans, such additional costs (expressed as a percentage per annum and rounded upwards, if necessary, to the nearest five decimal places) equal to the actual costs allocated to such Commitment or Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which in each case shall be due and payable on each date on which interest is payable on such Loan, provided the Company shall have received at least 10 days’ prior notice (with a copy to the Administrative Agent) of such additional interest or costs from such Lender. If a Lender fails to give notice 10 days prior to the relevant Interest Payment Date, such additional interest or costs shall be due and payable 10 days from receipt of such notice.

  • Debt Service Reserve Reserved.

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