Contractor Reserve definition

Contractor Reserve means a reserve equal to the greater of (i) $0.75 times the number of units of Inventory in the possession of contractors or (ii) in the amount of $50,000 or such higher amount as Agent in its Permitted Discretion shall determine to be the amount of claims owed by Borrowers to contractors in respect of Eligible Landed Inventory.
Sample 1
Contractor Reserve means a reserve equal to the amount of sums payable to contractors or other payees of any Loan Party that have a statutory Lien under Chapter 56 of the Texas Property Code or Louisiana Revised Statute Section 4861 et. seq. or any successor statutes or any similar statutes of other states; provided, however, notwithstanding anything to the contrary in the foregoing, the aggregate amount of the Contractor Reserve will not exceed $2,000,000 from the Effective Date through, and including, June 30, 2007.
Sample 1

Examples of Contractor Reserve in a sentence

  • To the extent that any Disputed CLLSP Construction Lien Claim of a CLLSP Construction Lien Creditor becomes a Proven CLLSP Sub Sub Contractor Construction Lien Claim in accordance with this Plan and the Claims Procedure Order, the Monitor, shall distribute to the holder of such Proven CLLSP Sub Sub Contractor Construction Lien Claim, payment from the applicable Disputed CLLSP Sub Sub Contractor Reserve an amount equal to the Proven CLLSP Sub Sub Contractor Construction Lien Claim.

  • Interest for delayed payment3 percent per annum Signature of Contractor Reserve Bank of India Tenders for Supply, installation, testing and commissioning of 3x100 KVA & 2x 60 KVAUPS system in Bank’s Office Building, Bangalore.

  • Sign off with Contractor Reserve account: Marlys and Sharon will be the signers on the reserve account Inspection: Kim is getting a bid for an outside inspector to look for any construction defects.

Related to Contractor Reserve

  • Contractor System means the information and communications technology system used by the Contractor in performing the Services including the Software, the Contractor Equipment and related cabling (but excluding the Authority System).

  • Contractor/Supplier means the person or company whose tender is accepted by the Purchaser and shall be deemed to include the Contractor’s successors, heirs, executors, administrators, representatives and assigns approved by the Purchaser.

  • Contractor means the individual or entity, that has entered into this contract with the Commonwealth.

  • Central Contractor Registration (CCR) database means the primary Government repository for Contractor information required for the conduct of business with the Government.

  • Elevator contractor means a sole proprietor, firm, or corporation licensed under this chapter that is engaged in the business of erecting, constructing, installing, altering, servicing, repairing, or maintaining an elevator.

  • EPC Contractor means Seller’s engineering, procurement and construction contractor or such Person performing those functions.

  • Lead Contractor means a person who has met the Board's requirements and has been issued a license by the Board to enter into contracts to perform lead abatements.

  • Construction Contractor means a person who undertakes to or offers to undertake to, or purports to have the capacity to undertake to, or submits a bid to, or does himself or by or through others, construct, alter, repair, add to, subtract from, improve, move, wreck, or demolish any building, highway, road, railroad, excavation, or other structure, project, development, or improvement to real property, or to do any part thereof. "Construction contractor" includes subcontractors, specialty contractors, prime contractors, and any person receiving consideration for the general supervision and/or coordination of such a construction project except for remediation contracting. This definition shall govern without regard to whether or not the construction contractor is acting in fulfillment of a contract.

  • Plumbing contractor means a licensed master plumber or a person who employs a licensed master plumber full-time to directly supervise the installation of plumbing as his or her representative engaged in the business of plumbing for a fixed sum, price, fee percentage, valuable consideration, or other compensation and who is licensed as a plumbing contractor.

  • Environmental Compliance Reserve means any reserve which the Agent establishes in its reasonable discretion after prior written notice to the Borrower from time to time for amounts that are reasonably likely to be expended by the Borrower in order for the Borrower and its operations and property (a) to comply with any notice from a Governmental Authority asserting material non-compliance with Environmental Laws, or (b) to correct any such material non-compliance identified in a report delivered to the Agent and the Lenders pursuant to Section 7.7.

  • Prime Contractor as used in this clause, means a person who has entered into a prime contract with the United States.

  • Building Contractor means the building contractor or developer appointed or to be appointed by the Grant Recipient in respect of a Firm Scheme; Business Day means any day other than a Saturday, Sunday or a statutory Bank Holiday in England;

  • Emission control system means the electronic engine management controller and any emission related component in the exhaust or evaporative system which supplies an input to or receives an output from this controller.

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

  • Contract Cost means the Contract Sum plus Price Variation. This cost shall be included in the letter of acceptance.

  • Contractor Agent means any person mandated by a Prime Contractor or consortium/joint venture to do business for and on behalf of, or to represent in a business transaction, the Prime Contractor and thereby acquire rights for the Prime Contractor or consortium/joint venture against NHLS or an organ of state and incur obligations binding the Prime Contractor or consortium/joint venture in favour of NHLS or an organ of state.

  • Contractor Representative means any of the following:

  • Contractor Project Manager means the employee identified in a Statement of Work as the Contractor project manager.

  • Property management system means the Contractor’s system or systems for managing and controlling Government property.

  • O&M Contractor means the person, if any, with whom the Concessionaire has entered into an O&M Contract for discharging O&M obligations for and on behalf of the Concessionaire;

  • The Contractor/ Vendor means the individual or firm or company undertaking the works and shall include legal personal representative of individual or composing the firm or company and the permitted assignees of individual or firms of company.

  • Contractor Related Parties means any affliates of the Contractor and the Contractor's executive officers, Pennsylvania officers and directors, or owners of 5 percent or more interest in the Contractor.

  • Contractor’s Equipment means all apparatus, machinery, vehicles and other things required for the execution and completion of the Works and the remedying of any defects. However, Contractor’s Equipment excludes Temporary Works, Employer’s Equipment (if any), Plant, Materials and any other things intended to form or forming part of the Equipment.

  • Contractor / Vendor means the Tenderer whose bid has been accepted and awarded Letter of Acceptance for a specific item followed by the signing of Contract.

  • Electrical contractor means an electrical contractor as defined in the Regulations;

  • Project Water means water made available for delivery to the contractors by project conservation facilities and the transportation facilities included in the System.