P&R Reserve definition

P&R Reserve means a reserve to be established for any P&R Liabilities not otherwise deducted from amounts included in the Borrowing Base that have accrued and become payable in accordance with Section 3.30 hereof but have not yet been paid.
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Examples of P&R Reserve in a sentence

  • There will be three (3) classifications of Reserve Flight Attendants: Ready Reserve (RR), AM (AR), and PM (PR) Reserve.

  • If the cumulative aggregate Estimated Net Receipts for all Funded Pictures as of such Settlement Date shown on the Cumulative Aggregate Ultimates Statement is a negative amount (a “P&R Reserve Triggering Event”), FilmCo shall cause to be paid over to the P&R Reserve Account an amount for the applicable Accounting Period calculated as set forth in Section 8.6.5 of the FilmCo Operating Agreement.

  • The Manager shall be permitted to use amounts available from time to time in the FilmCo Distribution Costs Reserve Account solely and exclusively to satisfy FilmCo’s obligations to pay for Distribution Costs (without duplication of costs paid for out of amounts available under the FilmCo P&R Reserve Account) not otherwise paid or recouped pursuant to the terms of the Master Picture Purchase Agreement and the Distribution Agreement.

  • On or prior to the Closing Date, FilmCo shall establish and shall thereafter maintain with JPMorgan Chase Bank, N.A. (in such capacity, the “FilmCo P&R Account Bank”) the FilmCo P&R Reserve Account.

  • Funds on deposit in the FilmCo P&R Reserve Account shall be invested in Permitted Investments, as directed in writing by the Manager to the FilmCo P&R Account Bank (which may be a standing direction), with all realized interest and other investment earnings (net of losses and investment expenses) to remain a part of the FilmCo P&R Reserve Account as the property of FilmCo, subject to distribution pursuant to the terms of this Agreement.