P&A Reserve Amount definition
P&A Reserve Amount means, with respect to any Payment Date after which a P&A Reserve Trigger occurs, an amount equal to two (2) times the excess, if any, of (a) the P&A Expense Amount for the fiscal year preceding the applicable occurrence of the P&A Reserve Trigger over (b) the P&A Reserve Trigger Amount.
P&A Reserve Amount means, with respect to any Payment Date after which a P&A Reserve Trigger occurs, an amount equal to (x) if the P&A Reserve Trigger is under subclause (a) of the definition of “P&A Reserve Trigger”, two (2) times the excess, if any, of (a) the P&A Expense Amount for the calendar year preceding the applicable occurrence of the P&A Reserve Trigger over (b) the P&A Reserve Trigger Amount and (y) if the P&A Reserve Trigger is under subclause (b) of the definition of “P&A Reserve Trigger”, an amount equal to the P&A Expense Amount for the calendar year preceding the applicable occurrence of the P&A Reserve Trigger.
P&A Reserve Amount means, with respect to any Picture, the amount that may be borrowed under the Facility for the use described in Section 2.1(a)(v) with respect to exhibiting such Picture on at least 500 screens.
Examples of P&A Reserve Amount in a sentence
To the extent a P&A Reserve Trigger has occurred with respect to the Issuer’s most recently completed fiscal year, Available Funds shall be deposited into the P&A Reserve Account in an amount equal to the P&A Reserve Amount in accordance with Section 8.6. On each Payment Date, all amounts then on deposit in the P&A Reserve Account shall be deposited into the Collection Account, where they will be considered part of Available Funds and distributed on such Payment Date pursuant to Section 8.6.