Portfolio Reserve definition
Examples of Portfolio Reserve in a sentence
Shipping and Handling: shall be covered by Promac for warrantied parts.
Household will resume building the Portfolio Reserve to the Fully Funded Amount, by thereafter deducting from payments to Merchants an amount equal to eight percent (8%) of each valid and authorized Sales Slip presented to Household until the balance in the Portfolio Reserve has reached the Fully Funded Amount.
S▇▇▇▇ ▇▇▇▇▇▇ Telecommunications Trust S▇▇▇▇ ▇▇▇▇▇▇ Telecommunications Income Fund S▇▇▇▇ ▇▇▇▇▇▇ Variable Account Funds (variable annuity) Income and Growth Portfolio Reserve Account Portfolio U.S. Government/High Quality Securities Portfolio S▇▇▇▇ ▇▇▇▇▇▇ World Funds, Inc.
In order to secure the performance of Merchants' obligations hereunder, Merchants hereby grant Household a first priority security interest in and lien upon the Portfolio Reserve, and agree to execute such documents and take such other actions as Household reasonably determines are necessary in order to perfect such security interest and lien.
Except as otherwise provided herein, if the Portfolio Reserve contains an amount of funds in excess of the Fully Funded Amount at the end of any Month, Household shall pay such excess amounts to Merchants in accordance with the payment procedures provided in Section 3.d. of this Agreement.
Household may also deduct from the Portfolio Reserve during the Term any amounts not paid by Merchants under Section 3 of this Agreement.
Household may deduct such amounts from the Portfolio Reserve (as defined in Section 7(a)(i)).
In the event this Agreement is terminated for any reason or notice of termination is given by either party, Household may deduct amounts owed to it by Merchants from the Portfolio Reserve and take such other reasonable actions including but not limited to establishing and maintaining additional reserves from payments otherwise payable to Merchants to protect Household's rights under this Agreement and to cover chargeback amounts and other amounts owing to Household.
The purpose of the Portfolio Reserve is to provide for payment of any amounts due Household at the end of the Term or upon earlier termination of this Agreement.
The face amount of the Letter of Credit or the combination of a Letter of Credit and cash shall be no less than the Fully Funded Amount of the Portfolio Reserve provided, however, if the amount of funds required to be held in the Portfolio Reserve is increased or decreased pursuant to the provisions of Section 7a(iv) above the face amount of the Letter of Credit shall be adjusted accordingly.