Applicable Reserve definition

Applicable Reserve means, at any date, an amount equal to (NRPB x RP) plus such reserves as mutually agreed upon, with adjustments effective upon at least three Business Days’ notice by the Agent, where: NRPB = the Net Receivables Pool Balance at the close of business of the Servicer on such date. RP = the Reserve Percentage at the close of business of the Servicer on such date.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Applicable Reserve means the sum of (i) any Operating Reserve and (ii) any Dilution Reserve.

Examples of Applicable Reserve in a sentence

Any change in the interest rate on a Loan resulting from a change in the Base Rate or the Applicable Reserve Requirements shall become effective as of the opening of business on the day on which such change becomes effective.
Any change in the interest rate on a Loan resulting from a change in the Applicable Reserve Requirement shall become effective as of the opening of business on the day on which such change becomes effective.
Lender shall release the requested funds from the Applicable Reserve if Lender determines in its sole discretion that: (i) the Work for which the release is sought are Repairs or Replacements; (ii) amounts payable in respect of such Work are reasonable; and (iii) all other conditions to a release under this Agreement have been met.
Notwithstanding the foregoing, if a disbursement from the Applicable Reserve is to be made and the twentieth (20th) day of the applicable month is not a Business Day, then such disbursement shall be made on the next succeeding Business Day.
Tenant shall on the last day of each Accounting Period during the Term, transfer into the Reserve an amount equal to the Applicable Reserve Percentage of Total Facility Revenues for such Accounting Period (based upon estimates of Total Facility Revenue if necessary, to be adjusted as soon as Tenant has had an opportunity to confirm actual Total Facility Revenue).
The Applicable Reserve Requirement of any Reserve Account may be funded from time to time by any Acceptable Reserve Letter of Credit (subject, in the case of the Major Maintenance Reserve Account, to the proviso of the definition of “Major Maintenance Reserve Required Balance”).
In no event shall Lender be obligated to release any portion of an Applicable Reserve if an Event of Default or Incipient Default exists under any of the Loan Documents, or until such Borrower paid in full any fees, costs and expenses then due and payable under this Agreement.
The Eurodollar Rate shall be adjusted with respect to Eurodollar Rate Loans without notice or demand of any kind on the effective date of any change in the Applicable Reserve Requirement as of such effective date.
On any date on which the Borrower shall consummate a Reserve Replenishment pursuant to this clause (a), the Borrower shall provide written notice of such Reserve Replenishment to the Administrative Agent, which notice shall specify the amount of such Reserve Replenishment and the Applicable Reserve into which such Reserve Replenishment is transferred.
The aggregate amount of Capital shall not at any time exceed the lesser of: (i) the Program Limit; and (ii) the Net Receivables Pool Balance (as defined below) minus the Applicable Reserve (as defined below).

More Definitions of Applicable Reserve

Applicable Reserve shall be an amount equal to (i) the product of the Net Receivables Pool Balance multiplied by a reserve percentage determined in accordance with the Program Documentation (as defined below) plus (ii) any reserves as may be established in accordance with the Program Documentation. The initial reserve percentage shall be 15%.

Applicable Reserve as defined in Section 4.1.31.

Applicable Reserve means, at any date, an amount equal to: (NRPB (US/Canadian) x (X + SFR + YR)) where: NRPB (US/Canadian) = the portion of the Net Receivables Pool Balance attributable to Canadian Dollar Receivables and US Dollar Receivables at the close of business of the Servicer on such date. X = the greater of (x) the sum of (i) the Dilution Reserve Percentage plus (ii) the Loss Reserve Percentage, at the time of such determination, and (y) the Floor Reserve Percentage at the time of such determination. SFR = the Servicing Fee Reserve Percentage at the time of such determination. YR = the Yield Reserve Percentage at the time of such determination.

Applicable Reserve means, for any Receivable Interest at any date, an amount equal to the sum of where: NRPB (US/Canadian) = the portion of the Net Receivables Pool Balance attributable to Canadian Dollar Receivables and US Dollar Receivables at the close of business of the Servicer on such date. NRPB (UK) = the portion of the Net Receivables Pool Balance attributable to UK Receivables at the close of business of the Servicer on such date. RP = the applicable Reserve Percentage at the close of business of the Servicer on such date.