Reserve Costs definition

Reserve Costs means, so long as a Note Purchaser shall be required under regulations of the Federal Reserve Board to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency Liabilities (as defined in Regulation D), additional amounts equal to the product of (l) the aggregate principal amount of the Notes held by it, multiplied by (2) an interest rate per annum equal, at all times during the period in which such reserves were assessed, to the remainder obtained by subtracting (a) the LIBO Rate for such Interest Period from (b) the rate obtained by dividing such LIBO Rate for such Interest Period by a percentage equal to 100% minus the LIBO Rate Reserve Percentage of such Holder, which amounts shall be payable on each Payment Date.

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Reserve Costs means, so long as any Instrument Holder hereafter shall be required under regulations of the Board of Governors of the Federal Reserve System to maintain reserves in excess of those maintained at the more recent to occur of the original issuance of the applicable Instrument or the date of adjustment of the Note Rate or Certificate Rate applicable to such Instrument or applicable interest therein in connection with the Secondary Transaction with respect to liabilities or assets consisting of or including Eurocurrency Liabilities, additional amounts equal to the product of (1) the outstanding balance of the Instruments held by such Instrument Holder, multiplied by (2) an interest rate per annum equal at all times during the period in which such reserves were assessed to the remainder obtained by subtracting (a) the LIBO Rate for the applicable period from (b) the rate obtained by dividing such LIBO Rate applicable during such period by a percentage equal to 100% minus the then applicable LIBO Rate Reserve Percentage, payable on each Payment Date. Promptly after Lessor receives notice from Agent or any Instrument Holder of any Reserve Costs or Increased Costs to be payable as Additional Rent Lessor shall notify the Lessee of the same; provided, however, that the failure to provide such notice as to Increased Costs shall not affect the Lessor's right to recover Additional Rent for the same. A certificate in reasonable detail (i) setting forth the basis for and the amount of such costs submitted by the Lessor to the Lessee and (ii) in the case of Increased Costs, setting forth in reasonable detail the calculation of the same and that the Instrument Holder has certified to the Lessor that such Increased Costs are generally being charged by the Instrument Holder to other similarly situated persons under similar arrangements, which notice shall be conclusive and binding for all purposes, absent manifest error, unless such notice fails to set forth the information required above as to the Increased Costs.

Reserve Costs means, so long as Instrument Holders hereafter shall be required under regulations of the Board of Governors of the Federal Reserve System to maintain reserves in excess of those maintained at the more recent to occur of the original issuance of the applicable Instrument or the adjustment of the Note Rate or Certificate Rate applicable to such Instrument or the applicable interest therein in connection with the Secondary Transaction with respect to liabilities or assets consisting of or including Eurocurrency Liabilities, additional amounts equal to the product of (1) the outstanding balance of the Instruments, multiplied by (2) an interest rate per annum equal, at all times during the period in which such reserves were assessed, to the remainder obtained by subtracting (a) the LIBO Rate for such Interest Period from (b) the rate obtained by dividing such LIBO Rate applicable during such Interest Period by a percentage equal to 100% minus the applicable LIBO Rate Reserve Percentage, payable on each Payment Date.

Examples of Reserve Costs in a sentence

The obligations of the Borrower under Clauses 6.5 (Increased Loan Costs, etc.), 6.6 (Funding Losses), 6.7 (Increased Capital Costs), 6.8 (Taxes), 6.9 (Reserve Costs), 13.5 (Payment of Costs and Expenses) and 13.6 (Indemnification) and the obligations of the Lenders under Clause 12.2 (Indemnity), shall in each case survive any termination of this Agreement and the payment in full of all Obligations.
In addition to such Additional Rent as may otherwise be payable under the Lease, Lessee shall pay, within thirty (30) days of a demand therefor, as Additional Rent, all Break Costs, Reserve Costs, Increased Costs and/or all reasonable expenses as set forth elsewhere herein or in the Transaction Documents of Lessor or Agent required to be paid by Lessee pursuant to this Lease, the Transaction Agreement, or any Transaction Document.
In addition to such Additional Rent as may otherwise be payable under the Lease, Lessee shall pay within thirty (30) days of a demand therefor but subject in all cases to Lessee's rights under the Operative Documents, as Additional Rent, without duplication, all Break Costs, Funding Costs, Reserve Costs, Increased Costs and Illegality Costs (collectively, "ADDITIONAL COSTS").
This Clause 10.1 (Increased Costs) shall not apply to the extent any payment by the Principal Company thereunder would be (i) attributable to tax deductions or withholdings required by law to be made by any Obligor on account of tax from a payment under this Agreement, (ii) compensated for by Clause 8.2 (Tax Indemnity), (iii) compensated for by the payment of applicable Reserve Costs, or (iv) attributable to a wilful breach of any law or regulation by the relevant Bank.
In addition to such Additional Rent as may otherwise be payable under the Lease, Lessee shall pay within thirty (30) days of a demand therefor but subject in all cases to Lessee's rights under the Operative Documents, as Additional Rent, without duplication, all Break Costs, Funding Costs, Reserve Costs, Increased Costs and Illegality Costs (collectively, "Additional Costs").
Eurodollar Reserve Costs................................................................
Eurocurrency Reserve Costs.......................................................................
In the event the Reserve Costs, as computed in accordance with the provisions of this Section, shall exceed the maximum amount permissible by law, the amount of the Reserve Costs shall be reduced to such maximum permissible amount.
In addition to such Additional Rent as may otherwise be payable under the Lease, Lessee shall pay, within thirty (30) days of a demand therefor, as Additional Rent all Break Costs, Reserve Costs, Increased Costs and/or all reasonable expenses as set forth elsewhere herein or in the Transaction Documents of Lessor or Agent required to be paid by Lessee pursuant to this Lease, the Transaction Agreement, or any Transaction Document.
All Production Costs and Operating Reserve Costs will be subject to audit by ▇▇▇▇, and will be subject to audit and enforcement by the Independent Market Monitor (“IMM”).

More Definitions of Reserve Costs

Reserve Costs means, in relation to the funding by the Bank of any amount in an “Accept- able Currency”, the costs to the Bank occasioned by or attributable to complying with reserves, liquidity, deposit or other requirements imposed on the Bank internally and/or by any relevant authority (as conclusively determined by the Bank);

Reserve Costs means, so long as a Note Holder or Certificate Holder shall be required under regulations of the Federal Reserve Board to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency Liabilities, additional amounts equal to the product of (i) such Note Holder's or Certificate Holder's portion of the Adjusted Capitalized Cost of the Property, multiplied by (ii) an interest rate per annum (at all times during the portion of the LIBO Rate Period during which such reserves were assessed) equal to the amount obtained by subtracting (a) the LIBO Rate for such LIBO Rate Period from (b) the rate obtained by dividing such LIBO Rate for such LIBO Rate Period by a percentage equal to 100% minus the LIBO Rate Reserve Percentage applicable to such Note Holder or Certificate Holder (as the case may be). For purposes of this provision, (i) each APA Purchaser holding a Percentage Interest shall, to the extent and for so long as it holds such Percentage Interest, be deemed a Note Holder with respect to the Principal Portion of such Percentage Interest, and (ii) CXC's Credit Enhancer shall be deemed a Note Holder to the extent of the principal amount of Notes attributable to CXC Advances or portion thereof that has been assigned to CXC's Credit Enhancer or in respect of which a draw has been made under the insurance policy or

Reserve Costs means, in relation to any Bank and in respect of any Term for an Advance, the cost to such Bank of compliance with the requirements of (a) the Bank of England and/or the Financial Services Authority (or, in either case, any other authority which replaces all or any of its functions) or (b) the European Central Bank (any such cost, for the purposes of this Agreement, to be represented by the percentage rate notified by the relevant Bank to the Facility Agent prior to the last day of the relevant Term).

Reserve Costs means, in relation to any Bank and in respect of any Term in relation to any Facility A Advance or any Facility B Advance or any Interest Period in relation to any Facility A Term Advance, the cost to such Bank of compliance with the minimum reserve requirements of (a) the Bank of England and/or the Financial Services Authority (or, in either case, any other authority which replaces all or any of its functions) or (b) the European Central Bank (any such cost, for the purposes of this Agreement, to be represented by the percentage rate per annum calculated by the Facility Agent in accordance with Schedule 7 (Reserve Cost Formulae)).

Reserve Costs means, so long as a Note Holder or the Lessor shall be required under regulations of the Federal Reserve Board to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency Liabilities, additional amounts equal to the product of (i) such Note Holder's or the Lessor's portion of the Adjusted Capitalized Cost of the Property multiplied by (ii) an interest rate per annum (at all times during the portion of the LIBO Rate Period during which such reserves were assessed) equal to the amount obtained by subtracting (a) the LIBO Rate for such LIBO Rate Period from (b) the rate obtained by dividing such LIBO Rate for such LIBO Rate Period by a percentage equal to 100% minus the LIBO Rate Reserve Percentage applicable to such Note Holder or the Lessor (as the case may be).