Reserve Tail definition

Reserve Tail means, with reference to the Development Plan and the Financial Model, the amount of Mining Reserves remaining to be produced as of the Maturity Date expressed as a percentage of the sum of (i) the Mining Reserves already produced at the Project and (ii) the Mining Reserves to be produced as of the relevant date of determination.
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Reserve Tail means as of any date of determination, the lesser of: (i) the quotient obtained by dividing the proven and probable coal reserves remaining to be mined from the San ▇▇▇▇ Property on the last principal repayment date under this Agreement (as adjusted by the effect of mandatory prepayments and as projected in the current Mine Plan) by the total proven and probable coal reserves in the San ▇▇▇▇ Property as of the date of this Agreement after accounting for additions to the proven and probable coal 27810336v11 reserves since the date of this Agreement; and (ii) the quotient obtained by dividing the coal contracted for sale under the Coal Supply Agreement that remains to be sold after the last principal repayment date (as adjusted by the effect of mandatory prepayments) by the total coal contracted for sale under the Coal Supply Agreement taking into account future additions or reductions in contracted sales tonnage that may be agreed by the Borrower and PNM.
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Reserve Tail. The Borrower shall at all times maintain a minimum "Reserve Tail" of at least 676,000 ounces of proven and probable recoverable gold reserves.
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Examples of Reserve Tail in a sentence

  • The Borrower shall at all times maintain the Reserve Tail Ratio to be greater than or equal to 30%.

  • On each Calculation Date, calculate the Projected Debt Service Coverage Ratio for the relevant Annual Period, the Project Life Coverage Ratio and the Loan Life Coverage Ratio for the relevant period, and the Debt Service Coverage Ratio and the Minimum Reserve Tail as of such Calculation Date, which calculations shall be confirmed by the Lender.

  • Maintain, as of any date of determination, a Minimum Reserve Tail of at least 30%, which, for the avoidance of doubt, on the date of this Agreement is 76,800 Ounces of Gold.

  • The Company must ensure that, on each Calculation Date, the Reserve Tail Ratio is at least equal to 20%.

  • Ratio 1 the Current Ratio; 2 the Interest Cover Ratio; 3 the Reserve Tail Ratio; or 4 the Leverage Ratio.

  • Maintain, as of any date of determination, a Reserve Tail of at least the percentage required under the Senior Credit Agreement of at least 25%.

  • Maintain, as of any date of determination, a Minimum Reserve Tail of at least thirty percent (30%), which, for the avoidance of doubt, on the date of this Agreement is 76,800 Ounces of Gold.

  • Maintain, as of any date of determination, a Reserve Tail of at least 25%.

  • Ratio 1 the Debt Service Cover Ratio; 2 the Loan Life Cover Ratio; 3 the Project Life Cover Ratio; 4 the Reserve Tail Ratio; or 5 the Gross Debt to EBITDA Ratio.

  • On each Calculation Date, calculate the Loan Life Coverage Ratio for the relevant period, and the Debt Service Coverage Ratio and the Minimum Reserve Tail as of such Calculation Date, which calculations shall be confirmed by the Lender.


More Definitions of Reserve Tail

Reserve Tail means a ratio (expressed as a percentage), as of any date of determination until the Ratio Maturity Date, of (a) the then current forecasted production of zinc, lead and silver from the Ratio Maturity Date through the remainder of the Life of Mine as set forth in the Financial Model to (b) the originally forecasted production of zinc, lead and silver estimated to be produced for the Life of Mine as set forth in the Initial Financial Model. For the purposes of this ratio, production of zinc, lead and silver shall be (a) calculated in the manner set forth in the Initial Financial Model, utilizing the Proven and Probable Reserves as verified and accepted by the Independent Engineer, and (b) stated in zinc equivalent terms using the zinc, lead and silver price assumptions contained in the Initial Financial Model.
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Related to Reserve Tail

  • Reserve Zone means any of those geographic areas consisting of a combination of one or more Control Zone(s), as designated by the Office of the Interconnection in the PJM Manuals, relevant to provision of, and requirements for, reserve service.

  • Reserve Draw Amount shall have the meaning specified in subsection 4.12(c).

  • Replacement Reserve Monthly Deposit shall have the meaning set forth in Section 7.3.1 hereof.

  • Probable Mineral Reserve means the economically mineable part of an indicated and, in some circumstances, a measured mineral resource demonstrated by at least a preliminary feasibility study. This study must include adequate information on mining, processing, metallurgical, economic and other relevant factors that demonstrate, at the time of reporting, that economic extraction can be justified;

  • Debt Service Reserve Fund Requirement means, with respect to the 2013 Series C Bonds and as of each determination date, an amount equal to maximum annual debt service on the 2013 Series C Bonds Outstanding from time to time and, with respect to any other Series of Bonds, the amount set forth in the Related Series Indenture.