Restructuring Reserve definition

Restructuring Reserve means a reserve against the Borrowing Base established for the payment of the costs, expenses and liabilities associated with the Restructuring relating to items described in the Restructuring Reserve Certificate, in an original aggregate amount of $22,900,000, as reduced from time to time on a dollar for dollar basis upon delivery to the Agent of a Restructuring Reserve Certificate setting forth any payments in cash by the Credit Parties of such costs, expenses and liabilities during such period.

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Restructuring Reserve has the meaning set forth in Schedule 6.14.

Restructuring Reserve means a $1,500,000 restructuring reserve on the Closing Date that will be reduced quarterly to an amount equal to the lesser of (i) $1,500,000 and (ii) the accrued but unpaid scheduled restructuring payments by Borrower.

Examples of Restructuring Reserve in a sentence

Adjusted EBITDA shall mean, for any fiscal period, the difference of (i) EBITDA for such period minus (ii) the difference of (a) the Restructuring Reserve as of the start of such period minus (b) the Restructuring Reserve as of the end of such period; provided that, with respect to any fiscal period ending on or prior to the last day of fiscal December 1997, the Restructuring Reserve as of the start of such period shall be deemed to be the lesser of (1) the actual Restructuring Reserve and (2) $6,000,000.
The balance, if any, left in the Business Restructuring Reserve, after the aforesaid adjustment, shall be transferred to Capital Reserve.
The Restructuring Reserve shall not reflect charges against it made (a) during Fiscal Year 1996 of more than $2,700,000 or (b) during Fiscal Year 1997 of more than $4,125,000 plus unused permitted charges against such reserve for Fiscal Year 1996.
Assets of Seller shall include sufficient cash, cash equivalents, accounts receivable and prepaid expenses (x) to satisfy the AEW Working Capital Requirement and (y) to satisfy Seller's share of the funding of the Restructuring Reserve.
Following the termination of the Forbearance Period, the Administrative Agent shall have discretion to adjust the Restructuring Reserve as provided in the definition of such term without any limitation set forth in the preceding sentence.
In addition, Purchaser will otherwise cause the Company and Seller to pay the Sterno Restructuring Reserve Expenses as set forth on Schedule 1.1(c) as and when such expenses come due.
Assets of ▇▇▇▇▇▇ and the ▇▇▇▇▇▇ Subsidiaries reflected on the ▇▇▇▇▇▇ Pro Forma Balance Sheet shall include sufficient cash, cash equivalents, accounts receivable and prepaid expenses (x) to satisfy the ▇▇▇▇▇▇ Working Capital Requirement, (y) to pay the Buyer Restructuring Costs in excess of Buyer's Pre-Closing Restructuring Costs and (z) to satisfy Buyer's share of the funding of the Restructuring Reserve.
In any event there shall be established and the Purchasers shall procure that there is established the Restructuring Reserve (as defined in the 'C' Loan Note).

More Definitions of Restructuring Reserve

Restructuring Reserve means the provision for reorganisation expenses anticipated to be in the region of $7.0 million but which will not be less than $6.0 million to be recorded by the Purchasers and the Group as part of their acquisition accounting in accordance with United States GAAP pertaining to the transaction contemplated by the Purchase Agreement.

Restructuring Reserve means as of any date of determination, a reserve in an amount equal to the amount of costs and expenses projected to be incurred by Borrowers from the Closing Date through December 31, 2010 in connection with the relocation of Borrowers’ operations from Mt. Morris, Illinois or Louisville, Colorado to Palm Coast, Florida. The Restructuring Reserve shall be reduced in an amount equal to the Restructuring Charges paid at the time such Restructuring Charges are paid and eliminated upon Borrowers providing evidence satisfactory to Agent in its reasonable discretion that no more Restructuring Charges will be incurred and so long as any such Restructuring Charges are not increased.

Restructuring Reserve means the reserve for restructuring costs at Nexans Facilities reflected in the liabilities in the Nexans Closing Balance Sheet, which reserve was approximately €2 million as of December 21, 2004 and has been and will be reduced to the extent used prior to the Closing.

Restructuring Reserve means such reserve (which shall be an Availability Reserve) as the Administrative Agent from time to time determines in its discretion as being appropriate to account for certain restructuring activities undertaken by the Loan Parties as of the Fifth Amendment Effective Date, but subject to Section 2.03(c). “Revolving Loan Borrowing Base” means, at any time of calculation, an amount equal to 42