Reserve Requirement. Fifteen percent (15%) of all unpaid accounts purchased by us and one hundred percent (100%) of all such accounts which are disputed or which you may be obligated to repurchase (including, without limitation, any "client's risk account" as defined in SECTION 4) shall be held by us as cash collateral (hereinafter the "RESERVE") against which we may at any time charge any liability you may now or hereafter owe us, directly or indirectly. We shall have the right to change the percentage of unpaid accounts at which the reserve will be maintained at any time without notice to you as we in our sole discretion shall deem necessary for our protection. Should any notice of termination of this Agreement be sent by either party or should we terminate without notice as provided for herein, then we may hold one hundred percent (100%) of all unpaid accounts as such reserve. We may, in our sole discretion, withhold a reserve from any payment to you should we have reason to believe sufficient objection to the amount owed may be raised by a customer, court of competent jurisdiction, or other relevant third party. The reserve required hereunder shall be maintained with us in an account designated as the "Factoring Account."
Reserve Requirement. The reasonably commensurate value of this Agreement, determined in accordance with California Insurance Code Section 11523, is $enter text.
Reserve Requirement. The term “RESERVE REQUIREMENT” means for any day during the referenced period the maximum rate at which reserves (including without limitation any marginal, special, supplemental or emergency reserves) are required to be maintained during such period under Regulation D of the Board of Governors of the Federal Reserve System, from time to time in effect (or any successor or other regulation or legal requirement relating to reserve requirements applicable to member banks of the Federal Reserve System) by member banks of the Federal Reserve System against “Eurocurrency Liabilities” as currently defined in Regulation D (or against any other category of liabilities which includes deposits by reference to which the interest rate on LIBOR BORROWINGS or loans is determined or any category of extensions of credit or other assets which include loans by a non-United States office of a bank to United States residents), whether or not the LENDER has any “Eurocurrency Liabilities” subject to such reserve requirements during the referenced period. LIBOR BORROWINGS shall be deemed to constitute “Eurocurrency Liabilities,” and as such shall be deemed subject to reserve requirements without benefits or credits for proration, exceptions or offsets that may be available from time to time to the LENDER. The ADJUSTED LIBOR RATE shall be adjusted automatically on and as of the effective date of any change in the RESERVE REQUIREMENT.
Reserve Requirement. A reserve requirement is due and payable upon execution of this Agreement. An irrevocable letter of credit, in a form acceptable to MAC, is acceptable in guaranteeing the reserve requirement. The reserve requirement shall be automatically renewed each year by Mesaba and is required in advance for each year during the term of this Agreement and shall be provided to MAC thirty (30) days prior to the expiration of the previous letter of credit. The amount of the reserve requirement is equal to three (3) months rent, to be calculated as the sum of 1 and 2:
Reserve Requirement. On the terms and subject to the conditions of this Amendment, the definition of Reserve Requirement in Section 1.01 of the Existing Credit Agreement is hereby amended and restated in its entirety as follows:
Reserve Requirement. Participant shall work with Deloitte ------------------- & Touche, or such other "Big 6" auditor as Participant deems fit, to structure a reserve process to provide for redemptions. American shall, upon thirty (30) days written request, receive from Participants auditor an opinion on the suitability of such reserve process to meet Participant's business obligations.
Reserve Requirement. With respect to a Eurodollar Advance Period, the maximum aggregate reserve requirement (including all basic, supplemental, marginal and other reserves) which is imposed under Regulation D on Eurocurrency liabilities.
Reserve Requirement. For any LIBOR Loans for any Interest Period (or, as ------------------- the case may be, shorter period), the average maximum rate at which reserves (including marginal, supplemental or emergency reserves, if any) are required to be maintained during such period under Regulation D by member banks of the Federal Reserve System in Boston, Massachusetts with deposits exceeding one billion dollars against "Eurocurrency liabilities" (as such term is used in Regulation D). Without limiting the effect of the foregoing, the Reserve Requirement shall reflect any other reserves required to be maintained by such member banks by reason of any Regulatory Change against: (i) any category of liabilities which includes deposits by references to which the Adjusted LIBOR Rate is to be determined as provided in the definition of "Adjusted LIBOR Rate", as applicable, in this Section 1, or (ii) any category of extensions of credit or other assets which include LIBOR Loans.
Reserve Requirement. The undisbursed portion of the Soft Cost Loan and/or the Building Loan shall include a reserve for interest and other costs relative to the Property, the Soft Cost Loan and the Building Loan in all respects acceptable to Agent, and both the Soft Cost Loan and the Building Loan shall be in balance, as determined by Agent.
Reserve Requirement. The District and the Union have agreed that before the salary augmentation is implemented, a 10% reserve, which is comprised of the contingency reserve and general reserve, must be identified by June 30th of each year. If the reserve on July 1st is equal to or greater than the required reserve the salary augmentation will be implemented without adjustment to the elements of the formula. In the event that the reserve on July 1st does not meet the reserve requirement for the fiscal year, the District and union agree that the application of funds received from the State Cost of Living Adjustment, any Growth funding, and any additional salary increase, shall be used to meet the reserve requirement. Funds remaining after the reserve requirement is met will be distributed proportionately to employees using the salary augmentation scheme above.
