Reasonable Reserves definition

Reasonable Reserves means such amount as the Board, acting by Supermajority Approval, shall deem reasonably necessary to meet the foreseeable liabilities or obligations of the Company taking into consideration historic costs as well as reasonably projected cash flow, and including, but not limited to, (i) the normal expenses of the operation and management of its activities, as such liabilities and obligations become due and payable, and (ii) the expenses of any redemptions pursuant to the provisions of this Agreement.

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Reasonable Reserves means, in the context of current facts and circumstances, the appropriate reserve for future contingencies and demands on cash resources attributable to the operations of such division.

Reasonable Reserves means, in the context of current facts and circumstances, the appropriate reserve of not less than two months based on recurring monthly expenses of the FACM Division for future contingencies and demands on cash resources attributable to the operations of the FACM Division.

Examples of Reasonable Reserves in a sentence

• The Cooperative must keep records necessary to determine, at any time, each Member’s rights and interest in Reasonable Reserves.

• The Partners holding a Supermajority, excluding Stock Ownership Interests which are held by the Managing Partner, may, at any time within thirty (30) days after a determination by the Managing Partner, override by Resolution such Managing Partner’s determination under this Article V (p.73) the amount of Available Cash available for, and the manner of, distribution, and the amount of Reasonable Reserves.

• Unless determined otherwise by the quotaholders of SB Oils, cash distributions for a Fiscal Year shall be made in arrears in an amount equal to Free Cash Flow for such Fiscal Year less Reasonable Reserves; provided, however, that no such distributions will be made at any time that any amounts are outstanding under the Startup Facility contemplated in Exhibit F, except for distributions from SB Oils to the Company for the sole purpose of making repayments under Facility B contemplated in Exhibit F.

• The Cooperative must keep records necessary to determine, at any time, each Member's rights and interest in Reasonable Reserves.

• The Partners holding a Supermajority, excluding Stock Ownership Interests which are held by the Managing Partner, may at any time within thirty (30) days after a determination by the Managing Partner, override by Resolution such Managing Partner’s determination under this Appendix II (p.54) of the amount of Available Cash available for, and the manner of, distribution, and the amount of Reasonable Reserves.

More Definitions of Reasonable Reserves

Reasonable Reserves means, in the context of current facts and circumstances, the appropriate reserve of not less than two months based on recurring monthly expenses of the FACM Division for future contingencies and demands on cash resources attributable to the operations of the FACM Division. 4. It is agreed that all salaries and bonuses for employees of the FACM Division not otherwise paid by the Company pursuant to Paragraph 7 of this Schedule C shall be paid from FACM Division Available Cash. 5. It is the intention of all parties that all distributions of FACM Division Available Cash shall be made on a cumulative basis such that periods of operating loss for the Division, resulting in negative FACM Division Available Cash, are first offset in full against periods of positive FACM Division Available Cash. 6. FACM Division Available Cash shall be allocated and paid to the employees of the FACM Division as determined by the mutual agreement of the Company and Employee (or the principal executive officer of the FACM Division in the event Employee is not an employee of the FACM Division). 7. For each of the twelve (12) month periods ending September 30, 2001 and September 30, 2002, respectively, the Company agrees to expend up to $400,000 towards new employee base salaries, advertising costs, direct overhead expansion and marketing costs of the FACM Division. In the event the Company does not expend $400,000 for the twelve (12) month period ending September 30, 2001, then any unspent portion shall carry over for the twelve (12) month period ending September 20, 2002.

Reasonable Reserves means, in the context of current facts and circumstances, the appropriate reserve of not less than two months based on recurring monthly expenses of the ATLANTA Division for future contingencies and demands on cash resources attributable to the operations of the ATLANTA Division.

Reasonable Reserves means reserves, in amounts set by the Board to operate the Business, including (i) reasonable reserves for working capital, (ii) reasonable reserves for future capital expenditures, including the expansion of existing Plants and/or the construction of additional Plants and (iii) reserves required by Applicable Law. * Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

Reasonable Reserves means, in the context of current facts and circumstances, the appropriate reserve for future contingencies and demands on cash resources attributable to the operations of such division Employee shall have the right, during reasonable business hours, to meet with representatives of the Company concerning this calculation and shall have reasonable access to books and records of the Company to validate the calculations.

Reasonable Reserves means an amount of funds set aside or amounts allocated to reserves for the Company as reasonably determined by the Board of Managers, not to exceed the then-current expected total for six (6) months of (a) working capital and other expenditures consistent with the applicable Business Plan or Budget, and (b) taxes, insurance, debt service, and other costs or expenses incident to the conduct of business by the Company.

Reasonable Reserves means a reserve funded by the Company in an amount recommended by the Managing Partner arid approved by a Supermajority.

Reasonable Reserves means reserves calculated in accordance with generally accepted accounting principles as well as reserves set aside by the Board of Managers in the Company's name in order to satisfy the Company's reasonably anticipated requirements for at least two (2) months of operations, which shall include, without limitation, reserves against possible losses and the payment and making provision for the payment, when due, of obligations of the Company, including obligations owed to Members, including without limitation obligations for taxes by virtue of the Company electing to be treated as a partnership for all federal, state and local purposes, and funds for any other reasonable Company purposes.