Reserve Deficiency definition

Reserve Deficiency has the meaning set forth in Section 2.8(b).

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Reserve Deficiency has the meaning given to such term in Section 4(iii).

Reserve Deficiency means the amount, if any, by which $4,736,000 exceeds the amounts collected by the Corporation on or before July 31, 2000 for services performed on or before July 31, 1999. No later than October 31, 2000, the Chief Financial Officer of the Corporation shall certify as to the Reserve Deficiency to each record holder of shares of this Series. At the request of any record holder of the shares of this Series, the Corporation shall cause the Reserve Deficiency to be verified by an audit performed by an internationally-recognized independent public accounting firm.

Examples of Reserve Deficiency in a sentence

If at any time the amount in the EVERTEC Reserve Account is less than the Reserve Amount (such difference, the “Reserve Deficiency”), BPPR shall give notice to EVERTEC of the amount of the Reserve Deficiency and EVERTEC shall, within three Business Days of such notice, deposit an amount into the EVERTEC Reserve Account equal to the Reserve Deficiency.
In the event the Reserve Balance is ever less than the Minimum Reserve Balance, Seller shall be obligated to pay Greystone an amount equal to such deficiency (the "Reserve Deficiency") within three (3) Business Days after written demand thereof by Greystone (a "Reserve Deficiency Demand").
Such difference shall be called "Reserve Deficiency" if it is negative and "Reserve Redundancy" if it is zero or positive.
The amount by which the DI Reserves are deficient compared to Actual Loss Experience or the amount by which the DI Reserves exceed Actual Loss Experience, as agreed by the parties or reflected in the DI Claims Report (as modified by the Settlement Actuary), in each case discounting the Actual Loss Experience to the Closing Date at a discount rate of 4.5%, are referred to as the "DI Reserve Deficiency" and the "DI Reserve Positive Development," respectively.
Unless a Reserve Deficiency was created with the prior written consent of Greystone, in the event Seller fails to pay the Reserve Deficiency within three Business Days after a Reserve Deficiency Demand, Seller shall be obligated to pay Greystone a fee equal to the greater of $100 or ten percent (10%) of such Reserve Deficiency.

More Definitions of Reserve Deficiency

Reserve Deficiency has the meaning specified in Section 2.05(a)(iii).

Reserve Deficiency means, as of any date of determination, the amount by which (a) the Reserved Commitment in effect on such date exceeds (b) the result of (x) Total Revolving Loan Commitments in effect on such date minus (y) the sum of (i) aggregate principal amount of the Revolving Loans outstanding on such date plus (ii) the LC Obligations outstanding on such date plus (iii) the Total Reserved Letter of Credit Amount in effect on such date plus (iv) the Swing Line Exposure on such date plus (v) the Permitted Non-Affiliate Loan Reserve on such date.

Reserve Deficiency has the meaning specified in Section 504(b) of this Indenture.

Reserve Deficiency shall have the meaning set forth in Section 5.07 hereof.

Reserve Deficiency for any month shall mean the Required Reserve Amount less the Value of the Reserve Fund;

Reserve Deficiency means the amount necessary, if any, to replenish the Reserve Account to the Reserve Requirement, calculated by subtracting: (1) the Reserve Assets, together with all other amounts available to the Bond Trustee under the Indenture for deposit into the Reserve Account as of the date of calculation, from (2) the Reserve Requirement.

Reserve Deficiency shall have the meaning, with respect to any Series, specified in the applicable Series Supplement.