Bad Debt Reserve means the allocable portion of the bad debt reserve on the books and records of the Originators as established and allocated from time to time by the Originators and the Collection Agent in their sole discretion with respect to the Receivables included in a Transfer.
Bad Debt Reserve is a reserve our Payroll and Billing Operations maintains in Franchisee Distribution Account that is intended to assist Franchisee in covering un-collectable accounts that have a very high potential of never being collected, such as in the event a Client files for bankruptcy protection. They will deduct .2% of the Temporary Help Billings collected weekly and hold in Franchisee Bad Debt Reserve. The Bad Debt Reserve will accrue over time to a maximum of 1.2% of Franchisee trailing 52 weeks of Billings. In addition, within 90 days following the expiration (without renewal) or termination of this Agreement Franchisor will remit to Franchisee the balance of Franchisee Bad Debt Reserve (minus the negative balance, if any, of Franchisee Distribution Account at that time);
Bad Debt Reserve means the bad debt reserve maintained by Bank solely with respect to the Accounts under the Program in an amount, from time to time, equal to the product of (i) forty percent (40%) of the aggregate amount of Cardholder Indebtedness multiplied by (ii) the Loss Rate multiplied by (iii) 7/12. For purposes of this definition, “Loss Rate” means, with respect to the twelve (12) Fiscal Month period with respect to which the calculation of the Bad Debt Reserve is being made, a percentage equal to (i) (A) the aggregate amount of Cardholder Indebtedness written-off under the Program during such twelve (12) Fiscal Month period (which period includes the Fiscal Month in which the calculation is being made and the eleven (11) Fiscal Months immediately preceding the calculation), calculated on a sum of cycles basis of reporting monthly receivables under the Accounts, minus (B) the actual aggregate amount of Cardholder Indebtedness written-off under the Program actually recovered with respect to previously written-off Cardholder Indebtedness during such twelve (12) Fiscal Month period (including recovery of sales taxes paid on written-off Cardholder Indebtedness), divided by (ii) the actual average amount of Cardholder Indebtedness under the Program for each Fiscal Month during such twelve (12) Fiscal Month period (in each case, calculated on a sum of cycles basis of reporting monthly receivables under the Accounts for each Fiscal Month).
Examples of Bad Debt Reserve in a sentence
An acceptable level for the Bad Debt Reserve is 2:1 or better and the CFO and Manager: Expenditure must take all reasonable steps to ensure that the level is being maintained.
Bad Debt Reserve - An account to which doubtful or uncollectible receivables are charged.
Financial Instruments AccountingStarting from this accounting period, TG and Consolidated Subsidiaries have adopted the accounting standards for the financial instruments (“Opinion on Establishment of Accounting Regulation on Financial Instruments” (Business Accounting Council, January 22, 1999)) and changed the costing methods for for Marketable Securities and Derivative Transactions, and also changed calculation standards for Bad Debt Reserve.
They amount to reserves of cash to meet upcoming needs: Operating Reserve, Capital Improvement Reserve, Insurance Deductible Reserve and Bad Debt Reserve.
Said accounts receivable and all accounts receivable which have arisen since the Financials Date (i) are valid and enforceable claims for the sales and services which give rise to such accounts, and (ii) are subject to no defenses or offsets and are fully collectible in the ordinary course of business without resort to legal proceedings, subject to the Bad Debt Reserve.
More Definitions of Bad Debt Reserve
Bad Debt Reserve means the bad debt reserve maintained by Bank solely with respect to the Accounts under the Program in an amount, from time to time, equal to the product of (i) forty percent (40%) of the aggregate amount of Cardholder Indebtedness multiplied by (ii) the Loss Rate multiplied by (iii) 7/12. For purposes of this definition, "Loss Rate" means, with respect to the twelve (12) Fiscal Month period with respect to which the calculation of the Bad Debt Reserve is being made, a percentage equal to (i) (A) the aggregate amount of Cardholder Indebtedness that is forecasted by Bank (in a manner consistent with its forecasts for partner Credit Card portfolios managed by Bank of a similar size and nature) to be written-off under the Program during such twelve
Bad Debt Reserve means the bad debt reserve maintained by Bank solely with respect to the Accounts under the Program in an amount, from time to time, equal to the product of (i) forty percent (40%) of the aggregate amount of Cardholder Indebtedness multiplied by (ii) the Loss Rate multiplied by (iii) 7/12. For purposes of this definition, “Loss Rate” means, with respect to the twelve (12) Fiscal Month period with respect to which the calculation of the Bad Debt Reserve is being made, a percentage equal to (i) (A) the aggregate amount of Cardholder Indebtedness that is forecasted by Bank (in a manner consistent with its forecasts for partner Credit Card portfolios managed by Bank of a similar size and nature) to be written-off under the Program during such twelve (12) Fiscal Month period, calculated on a sum of cycles basis of reporting monthly receivables under the Accounts, minus (B) the aggregate amount forecasted by Bank (in a manner consistent with its forecasts for partner Credit Card portfolios managed by Bank of a similar size and nature) to be recovered with respect to previously written-off Cardholder Indebtedness during such twelve (12) Fiscal Month period (including recovery of sales taxes paid on written-off Cardholder Indebtedness), divided by (ii) the aggregate amount of the average amount of Cardholder Indebtedness under the Program forecasted for each Fiscal Month during such twelve (12) Fiscal Month period (in each case, calculated on a sum of cycles basis of reporting monthly receivables under the Accounts for each Fiscal Month).
Bad Debt Reserve has the meaning set forth in Section 4.9.
Bad Debt Reserve as defined in the definition of “Current Assets” in this Section 1.1.
Bad Debt Reserve has the meaning set forth in Section 3.1.1.
Bad Debt Reserve means the (i) actual bad debt reserved (in accordance with ---------------- GAAP) attributable to the New Contracts for the period commencing on February 1, 1998 through and including July 31, 1998, annualized for any New Contract with an actual history shorter than such six (6) month period, multiplied by (ii) 1.5.
Bad Debt Reserve means the bad debt reserve maintained by Bank solely with respect to the Accounts under the Program in an amount, from time to time, equal to the product of (i) forty percent (40%) of the aggregate amount of Cardholder Indebtedness multiplied by (ii) the Loss Rate multiplied by (iii) 7/12. For purposes of this definition, "Loss Rate" means, with respect to the twelve (12) Fiscal Month period with respect to which the calculation of the Bad Debt Reserve is being made, a percentage equal to (i) (A) the actual aggregate amount of Cardholder Indebtedness written-off under the Program for the twelve (12) Fiscal Month period (which period includes the Fiscal Month in which the calculation is being made and the eleven [11] Fiscal Months immediately preceding the calculation), calculated on a sum of cycles basis of reporting monthly receivables under the Accounts, minus (B) the actual aggregate amount of Cardholder Indebtedness written-off under the Program actually recovered with respect to previously written-off Cardholder Indebtedness during such twelve (12) Fiscal Month period (including recovery of sales taxes paid on written-off Cardholder Indebtedness), divided by (ii) the actual average amount of Cardholder Indebtedness under the Program for each Fiscal Month during such twelve (12) Fiscal Month period (in each case, calculated on a sum of cycles basis of reporting monthly receivables under the Accounts for each Fiscal Month).".