Reserve Payment definition

Reserve Payment means a payment an electricity supplier is required to make under regulation 11(1);

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Reserve Payment shall have the meaning given such term in Section 5.2.2.

Reserve Payment. If applicable, as indicated in the related Qualified Loan Schedule for a pool of Qualified Loans, an amount to be paid by Seller to ▇▇▇▇▇▇ Mac to mitigate a Loss Reserve Amount that ▇▇▇▇▇▇ Mac would otherwise incur with respect to a Defaulted Qualified Loan. Such amount shall equal the lesser of (a) the Loss Reserve Amount; and (b) the Reserve Amount Total Limit. The amount of a Reserve Payment shall be reduced by the amount that the aggregate of all Reserve Payments made over the term of this Commitment exceeds the Reserve Amount Total Limit.

Examples of Reserve Payment in a sentence

Each month during the Term, Management Company shall transfer into the FF&E Reserve an amount equal to one twelfth (1/12) of the FF&E Reserve Payment.
Upon preparation of the Reserve Payment Worksheet (as such term is defined in Section 14 hereof), Factor shall release to Seller amounts, if any, in the Reserve Account in excess of the balance required pursuant to this Section 7.
Catalyst shall prepare and provide to Seller weekly Reserve Payment Worksheets (herein so called) showing aggregate outstanding Receivables as of the end of the applicable period, total collections during the period, debits and credits to the Reserve Account, present balance of the Reserve Account and Discounts charged.
Upon preparation of the Reserve Payment Worksheet (as such term is defined in Section 12 hereof), Catalyst shall release to Seller amounts, if any, (provided there are no Account Debtor outstanding balances at 75 days or older or any disputed Receivables) in the Reserve Account in excess of the balance required pursuant to this Section 7.
Notwithstanding anything to the contrary in this Section 5.2.2, in the event that an amount different than the Reserve Payment set forth above is set forth in a Reserve Budget, or a greater amount is required by the lender holding the first Mortgage on the Facility, then the Reserve Payment shall be such different or greater amount, as the case may be.

More Definitions of Reserve Payment

Reserve Payment has the meaning specified therefor in Section 2.05(d).

Reserve Payment means, with respect to any Series Facilities Agreement, the reserve payment obligation in respect of a deficiency in the amount on deposit in the Debt Service Reserve Fund established under a Series Indenture for a Series of Project Bonds or the amount owed any provider of a Reserve Fund Credit Facility in connection with a draw on such Reserve Account Credit Facility as provided in the related Series Facilities Agreement.

Reserve Payment. An amount to be paid by Seller to ▇▇▇▇▇▇ Mac to mitigate a Loss that ▇▇▇▇▇▇ Mac would otherwise incur with respect to a Tier I Qualified Loan. Such amount shall equal the lesser of (a) the Loss; and (b) the Reserve Amount Annual Limit. The amount of a Reserve Payment shall be reduced by the amount that the aggregate of all Reserve Payments made over the term of this Commitment exceeds the Reserve Amount Total Limit.

Reserve Payment means each Debt Service Reserve Payment and Operating Reserve Payment.

Reserve Payment means FIFTY-EIGHT THOUSAND AND NO/100 DOLLARS ($58,000.00) per annum during the period commencing on the Effective Date and ending on December 31, 2013, and, thereafter, on the first (1st) day of each Fiscal Year, the Reserve Payment shall be increased by three percent (3%) per annum. Notwithstanding anything to the contrary in this Section 5.2.2, in the event that an amount different than the Reserve Payment set forth above is set forth in a Reserve Budget, or a greater amount is required by the lender holding the first Mortgage on the Facility, then the Reserve Payment shall be such different or greater amount, as the case may be.

Reserve Payment means Three Hundred and No/100 Dollars ($300.00) per unit per annum during the period commencing on the Effective Date and ending on the day immediately preceding the first day of the month which is twelve (12) months after the Effective Date (the “First Anniversary”), and, thereafter, on each anniversary of the Effective Date other than the First Anniversary (each, an “Adjustment Date”), the Reserve Payment shall be increased by any increase in the Index during the preceding 12-month period, as determined calculating a fraction, the numerator of which shall be (a) the Index most recently published immediately prior to the particular Lease Year in question, minus (b) the Index most recently published immediately prior to the immediately preceding Lease Year, and the denominator of which shall be the Index most recently published immediately prior to the immediately preceding Lease Year; provided, however, in no event shall any such annual increase exceed two and one-half percent (2.5%) per annum. Mathematically, the Index increase calculation may be expressed as (current Index - last year Index) ¨ last year Index. Notwithstanding anything to the contrary in this Section 5.2.2, in the event that an amount different than the Reserve Payment set forth above is set forth in a Reserve Budget, or a greater amount is required by the lender holding the first Mortgage on the Facility, then the Reserve Payment shall be such different or greater amount, as the case may be.

Reserve Payment means Three Hundred and No/100 Dollars ($300.00) per unit per annum during the period commencing on the Effective Date and ending on the day immediately preceding the first day of the month which is twelve (12) months after the Effective Date (the “First Anniversary”), and, thereafter, on each anniversary of the Effective Date other than the First Anniversary (each, an “Adjustment Date”), by any increase in the Index during the preceding 12-month period, as determined calculating a fraction, the numerator of which shall be (a) the Index most recently published immediately prior to the particular Lease Year in question, minus (b) the Index most recently published immediately prior to the immediately preceding Lease Year, and the denominator of which shall be the Index most recently published immediately prior to the immediately preceding Lease Year; provided, however, in no event shall any such annual increase exceed two and one-half percent (2.5%) per annum. Mathematically, the Index increase calculation may be expressed as (current Index – last year Index) last year Index. Notwithstanding anything to the contrary in this Section 5.2.2, in the event that an amount different than the Reserve Payment set forth above is set forth in a Reserve Budget, or a greater amount is required by the lender holding the first Mortgage on the Facility, then the Reserve Payment shall be such different or greater amount, as the case may be.