Appropriate Reserves definition

Appropriate Reserves means reserves for operating expenses and scheduled or required payments on Indebtedness (including payments for past-due rent constituting Existing Senior Indebtedness) for the immediately following fiscal quarter determined in good faith by the Company based on the applicable annual budget for the Company (commencing with the annual budget for 2013) and in any event not to exceed, without the consent of the holders of at least a majority in principal amount of the Subordinated Notes, the annual budget for such items by more than ten percent in the aggregate in any fiscal quarter or more than twenty percent in the aggregate in any fiscal year.
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Appropriate Reserves means such reserves as are determined by Adaptive reasonably and in good faith based on projected rates of chargebacks and refunds derived from actual historical data.
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Appropriate Reserves means reserves for operating expenses and scheduled or required payments on Indebtedness (including payments for past-due rent constituting Existing Senior Indebtedness) for the immediately following fiscal quarter determined in good faith by the Company based on the applicable annual budget for the Company
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Related to Appropriate Reserves

  • Aggregate Reserves means, on any date of determination, the sum of the Loss Reserve, the Dilution Reserve and the Servicing and Yield Reserve.

  • FF&E Reserve shall have the meaning given such term in Section 5.1.2(a).

  • free reserves means such reserves which, as per the latest audited balance sheet of a company, are available for distribution as dividend:

  • PDP Reserves means the Proven Reserves which are categorized as both “developed” and “producing” under the definitions for oil and gas reserves promulgated by the Society of Petroleum Evaluation Engineers (or any generally recognized successor) as in effect at the time in question and reasonably acceptable to the Administrative Agent.

  • Applicable Reserve Requirement means, at any time, for any Eurodollar Rate Loan, the maximum rate, expressed as a decimal, at which reserves (including any basic marginal, special, supplemental, emergency or other reserves) are required to be maintained with respect thereto against “Eurocurrency liabilities” (as such term is defined in Regulation D) under regulations issued from time to time by the Board of Governors or other applicable banking regulator. Without limiting the effect of the foregoing, the Applicable Reserve Requirement shall reflect any other reserves required to be maintained by such member banks with respect to (i) any category of liabilities which includes deposits by reference to which the applicable Adjusted Eurodollar Rate or any other interest rate of a Loan is to be determined, or (ii) any category of extensions of credit or other assets which include Eurodollar Rate Loans. A Eurodollar Rate Loan shall be deemed to constitute Eurocurrency liabilities and as such shall be deemed subject to reserve requirements without benefits of credit for proration, exceptions or offsets that may be available from time to time to the applicable Lender. The rate of interest on Eurodollar Rate Loans shall be adjusted automatically on and as of the effective date of any change in the Applicable Reserve Requirement.