Initial Reserve Deposit definition

Initial Reserve Deposit. $ (minimum three (3) months required unless approved in advance by NCCI)

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Initial Reserve Deposit means the initial deposit of funds of ----------------------- Landlord made to the Reserve, which deposit shall be equal to that portion of the amount held in reserve pursuant to the Management Agreement on December 31, 1993 (the effective date of termination of the Management Agreement) that is fairly allocable to the forty-nine (49) Hotels.

Initial Reserve Deposit means the initial deposit of a portion of the proceeds of the Notes on the Closing Date into the Reserve Account, in an amount equal to 1.50% of the Initial Discounted Pool Balance.

Examples of Initial Reserve Deposit in a sentence

The establishment of each Reserve Account with balances equal to any Initial Reserve Deposit thereto required by this Loan Agreement (including the Program Rider) or any of the other Loan Documents.
On the Closing Date, the Borrower shall pay to the Lender for deposit into each Reserve Account any Initial Reserve Deposit applicable to such Reserve Account.
As of the Effective Date, Landlord and Tenant shall make the Initial Reserve Deposit into the Reserve.
On the Closing Date, the Transferor shall deposit into the Reserve Account the Initial Reserve Deposit.
On the Borrowing Date, Lender will fund, out of the total proceeds of the Loan, an amount equal to $1,100,000 to the Deposit Account (the "Initial Reserve Deposit").
As used herein, the “Reserve Balance” at any time shall be the sum of the Initial Reserve Deposit plus each Future Reserve Deposit minus any Debits.
As used herein, the “Reserve Balance” at any time shall be the sum of the Initial Reserve Deposit, plus each Future Reserve Deposit, minus any disbursements made in accordance with the terms of this Agreement or the Service Agreement.

More Definitions of Initial Reserve Deposit

Initial Reserve Deposit shall have the meaning given to such term in Section 2(b).

Initial Reserve Deposit means, with respect to the Series 2019-A Certificates, cash or a Surety Bond, or any combination of the two, in an amount equal to the lesser of

Initial Reserve Deposit. An amount equal to the product of (i) the Cut-Off Date Aggregate Pool Principal Balance and (ii) 0.15% (15 basis points).

Related to Initial Reserve Deposit

Initial Reserve Account Deposit means $3,000,000.
Replacement Reserve Monthly Deposit shall have the meaning set forth in Section 7.3.1 hereof.
Initial Reserve Account Deposit Amount means an amount equal to $31,638,418.
Capital Reserve Fund means the reserve fund created and established by the Authority in
Reserve Draw Amount shall have the meaning specified in subsection 4.12(c).

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