Extension Reserve definition
Extension Reserve means the corporation's capital reserve for extension insurance.
Extension Reserve is added in proper alphabetical order:
Extension Reserve has the meaning specified in paragraph 2.8.3 hereof.
Examples of Extension Reserve in a sentence
Provided no Event of Default or Trigger Period is continuing, any Extension Reserve held by Lender shall be released to Borrower upon achieving a Debt Yield of 10.0% or greater for any Test Period.
More Definitions of Extension Reserve
Extension Reserve means, on any date of determination, the amount set forth below opposite such date: Date Refinancing Reserve ---- ------------------- From the Sixth Amendment Effective Date until $ 0 February 28, 2004 From February 29, 2004 until March 30, 2004 $ 125,000 From March 31, 2004 until April 29, 2004 $ 250,000 From April 30, 2004 until May 30, 2004 $ 375,000 From and after May 31, 2004 $ 500,000
Extension Reserve has the meaning set forth in Section 1.1(d).