Expense Reserves definition

Expense Reserves means an amount equal to two hundred thousand dollars ($200,000).
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Examples of Expense Reserves in a sentence

  • So long as there are sufficient Loan Payments or Property Proceeds available to pay all outstanding Loan Expenses (including any Loan Expense Reserves established by the Servicer pursuant to Section 6.3, below), each Lender’s share of such Loan Expenses shall be deducted from such Loan Payments or Property Proceeds (or available reserves) prior to any distribution of such proceeds to the Lenders under Section 8.2, below.

  • So long as there are sufficient Loan Proceeds or Property Proceeds available to pay all outstanding Loan Expenses (including any Loan Expense Reserves established by the Servicer pursuant to Section 11, below), each Lender’s share of such Loan Expenses shall be deducted from such Loan Proceeds or Property Proceeds (or available Reserves) prior to any distribution of such proceeds to the Lenders under Section 23, below.

  • The Reserves for Outstanding Losses and Loss Adjustment Expense Reserves shall have included a separate item for Incurred But Not Reported amounts for each caption.

  • In conjunction with the VGI Sale Agreement the Company has agreed to guarantee the Closing Date Loss and Loss Adjustment Expense Reserves of VGI's insurance subsidiaries (the "Reserves") for a period of four years.

  • United shall establish and maintain in accordance with Applicable Laws all reserves which United reasonably determines are necessary to meet United's obligations under the SHIP, including but not limited to claim reserves, Loss Adjustment Expense Reserves, Active Life Reserves, extension-of-benefits reserves and the RSF.

  • The Borrowers will not borrow from the Partnership an aggregate amount for Borrowers’ Expense Reserves that exceeds in the aggregate 6% of the Partnership’s Capital Contributions raised in this offering.

  • Review of Loss and Loss Adjustment Expense Reserves as of December 31, 1996" (the "KPMG Report").

  • The balances to be commuted will be the applicable Loss And Allocated Loss Adjustment Expense Reserves, any ULAE Reserves and Reinsurance Recoverable on Unpaid Losses, after taking account of the ▇▇▇▇▇▇▇▇▇▇▇ Reserve Adjustments referred to in paragraph 3 above.

  • The Loss and Allocated Loss Adjustment Expense Reserves (after giving effect to the gross-up set forth in paragraph 2) and corresponding reinsurance recoverable shall be adjusted to the Scenario 2 levels as included in the ▇▇▇▇▇▇▇▇▇▇▇ Report (after application of the ▇▇▇▇▇▇▇▇▇▇▇ Allocation Methodology), as defined in the Agreement.

  • For purposes of the Closing Surplus, all reserves will be computed in accordance with the Standards of Practice issued by the Actuarial Standards Board (including the Casualty Actuarial Society’s Statement of Principles Regarding Property and Casualty Loss and Loss Adjustment Expense Reserves) as those standards existed as of June 30, 2018.

Related to Expense Reserves

  • Expense Reserve Account The trust account established pursuant to Section 10.3(d).

  • Management Expenses means the costs, charges and expenses necessarily and reasonably incurred or to be incurred for the management and maintenance of the Land and the Building and the Common Areas and Facilities therein to be borne by the Owners including the remuneration of the Manager as provided in this Deed;

  • management expense ratio means the total fees and expenses a fund paid during a year divided by its average assets for that year.

  • Allocated Loss Adjustment Expenses or “ALAE” means all court costs and court expenses; pre- and post-judgement interest; fees for service of process; attorneys’ fees; cost of undercover operative and detective services, costs of employing experts; costs for legal transcripts; costs for copies of any public records; costs of depositions and court-reported or recorded statements; costs and expenses of subrogation; and any similar fee, cost or expense reasonably chargeable to the investigation, negotiation, settlement or defense of a loss or a claim or suit against you, or to the protection and perfection of your or our subrogation rights.

  • Professional Fee Reserve Amount means the total amount of Professional Fee Claims estimated in accordance with Article II.A.2(c) of the Plan.