Return Reserve definition

Return Reserve means reserves reasonably maintained by the Company from time to time for Refunds.

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Return Reserve means the record created on the books of the Bank in accordance with Section 6.04 hereof. "SECOND SOURCE PROGRAM" has the meaning given to it in Section 8.05(b) hereof. "SERVICE FEE PERCENTAGE" has the meaning given to it in Section 5.02 hereof. "SETTLEMENT DATE" means a date selected by Bank after each Billing Period which date shall be no more than fifteen (15) days after the last day of such Billing Period. "SOLVENT" means, as to any person, (a) that the present fair salable value of such person's assets is in excess of the total amount of its liabilities, (b) that such person is presently generally able to pay its debts as they become due, and (c) that such person does not have unreasonably small capital to carry on such person's business as theretofore operated and or the business in which such person is about to engage. The phrase "present fair salable value" of a person's assets is intended to mean that value which could be obtained if the assets were sold within a reasonable time in arm's-length transactions in an existing and not theoretical market.

Return Reserve means, on each Monthly Release Date (and the Proposed Interim Release Date following such Monthly Release Date), an amount equal to (a) all Accounts arising from the sale of goods and the provision of services by the Borrower and the other Loan Parties that are unpaid as of the end of the most recent calendar month prior to such Monthly Release Date multiplied by (b) the Return Reserve Percentage.

Examples of Return Reserve in a sentence

• No monies held in the Chargeback and Return Reserve Account shall bear interest.

• After payment or adequate provision for payment is made by SPS-EFT, for all obligations on the part of Merchant to SPS-EFT under this Agreement, Merchant may request SPS-EFT to disburse to Merchant any funds remaining in the Chargeback and Return Reserve Account unless otherwise agreed to by SPS-EFT.

• After payment or adequate provision for payment is made by SPS-EFT, for all obligations on the part of MERCHANT to SPS-EFT under this Agreement, MERCHANT may request SPS-EFT to disburse to MERCHANT any funds remaining in the Chargeback and Return Reserve Account unless otherwise agreed to by SPS-EFT.

• After payment or adequate provision for payment is made by Paya-EFT, for all obligations on the part of MERCHANT to Paya-EFT under this Agreement, MERCHANT may request Paya-EFT to disburse to MERCHANT any funds remaining in the Chargeback and Return Reserve Account unless otherwise agreed to by Paya-EFT.

• After payment or adequate provision for payment is made by GETI, for all obligations on the part of Merchant to GETI under this Agreement, Merchant may request GETI to disburse to Merchant any funds remaining in the Chargeback and Return Reserve Account unless otherwise agreed to by GETI.

• Any portion of the Return Reserve that is not applied to credits issued for actual returns received by Diamond during the Returns Period shall be owed to Publisher, and any amount by which the Return Reserve is insufficient to cover credits issued for actual returns received by Diamond during the Returns Period shall be owed to Diamond.

• Except as set forth in Section 6.04(c) below, no interest or other earnings on amounts credited to the Return Reserve shall accrue or be paid for the benefit of Retailers.

• If this calculated amount exceeds the amount then credited to the Return Reserve (including interest credited to the Return Reserve and amounts credited to the Return Reserve in accordance with Section 5.02 (a) hereof as of such Settlement Date), Retailers shall deliver an amount equal to such excess to Bank, and Bank shall credit the Return Reserve with such amount.

• With respect to each AP, “Gross Receipts” means all amounts actually received by Genius in U.S. Dollars in the United States from the distribution of Videograms that are released hereunder during the Term; and “Net Receipts” means Gross Receipts less all refunds, rebates, credits, discounts, allowances, advance payments (until earned or forfeited), security deposits (until earned or forfeited), the Return Reserve (as defined below) and actual returns in excess of the Return Reserve.

• After payment or adequate provision for payment is made by GETI, for all obligations on the part of MERCHANT to GETI under this Agreement, MERCHANT may request GETI to disburse to MERCHANT any funds remaining in the Chargeback and Return Reserve Account unless otherwise agreed to by GETI.

More Definitions of Return Reserve

Return Reserve and "Finance Charge Reserve", as such items are reflected on the Borrowing Base Certificate. Notwithstanding the foregoing, the Borrowers hereby acknowledge that the items referred to in the immediately preceding sentence are not the only deductions being made from Eligible Receivables in calculating the Borrowing Base pursuant to the Borrowing Base Certificate.

Return Reserve with respect to any fiscal month, the average monthly amount of Inventory transferred by the Borrower and the Subsidiary Guarantors to return centers during the immediately preceding 12 fiscal month period.