Servicing Reserve definition

Servicing Reserve means, the product (expressed as a percentage) of (a) 1.0%, times (b) a fraction, the numerator of which is the highest Days Sales Outstanding for the most recent 12 months and the denominator of which is 360.

Servicing Reserve. For any Calculation Period, the product (expressed as a percentage) of (i) the Servicing Fee Rate, times (ii) a fraction, the numerator of which is the highest Days Sales Outstanding for the most recent 12 Calculation Periods and the denominator of which is 360.

Servicing Reserve means, for any Calculation Period, the product (expressed as a percentage) of (a) the Servicing Fee Rate, times (b) a fraction, the numerator of which is the highest Days Sales Outstanding for the most recent 12 Calculation Periods and the denominator of which is 360.

Examples of Servicing Reserve in a sentence

• Balance, December 31, 2010Roads Rehabilitation Capital Reserve Fund $13,435,231Cycling Paths Reserve Fund$ 667,803Land Servicing$ 34,788Highway Servicing Reserve Fund$ 10,316Total$14,148,138Projected Balance, December 31, 2011$ 6,027,000Projected Balance, December 31, 2012$ 6,461,000Projected Balance, December 31, 2013 $ 6,090,000 Committed Applications:Future balances have been earmarked to fund Roads and Traffic base program capital expenditures.

• Highway Servicing Reserve Fund – In 1997 and 1998 the Province transferred responsibility for certain provincial highways to the Region (Hwy 8 in 1997, Hwys 24 and 86 in 1998).

• On each Determination Date, the Master Servicer shall deliver to the Agent, the VFC Certificateholders, the Trustee and the Rating Agency a Monthly Settlement Statement substantially in the form attached hereto as Exhibit E-1 setting forth, among other things, the Loss Reserve Ratio, the Dilution Reserve Ratio, the Carrying Cost Reserve Ratio and the Servicing Reserve Ratio, each as recalculated for the next succeeding Settlement Period.

• The breaches are the failure to maintain the minimum sum in the Debt Servicing Reserve Account and certain financial ratios.

• On each Determination Date, the Master Servicer shall deliver to the Enhancement Provider, the Trustee and each Rating Agency a Monthly Settlement Statement substantially in the form attached hereto as Exhibit E-1 setting forth, among other things, the Loss Reserve Ratio, the Dilution Reserve Ratio, the Carrying Cost Reserve Ratio and the Servicing Reserve Ratio, each as recalculated for the next succeeding Settlement Period.

More Definitions of Servicing Reserve

Servicing Reserve means, for any Calculation Period, the product of: (a) the highest Day Sales Outstanding Ratio during the 12 months ending with the most recent Calculation Date, (b) the Stress Factor, (c) 2.40%, and (d) 1/360.

Servicing Reserve. Servicing Fee Rate," "Required Reserve" or "Required Reserve Factor Floor" or (H) amend or modify any defined term (or any defined term used directly or indirectly in such defined term) used in clauses (A) through (G) above in a manner that would circumvent the intention of the restrictions set forth in such clauses; or

Servicing Reserve. The product of (i) the Servicing Fee Rate and (ii) a fraction, the numerator of which is the Twelve Month DSO and the denominator of which is 360.

Servicing Reserve means, for any Calculation Period, the product (expressed as a percentage) of (a) the Servicing Fee Rate, TIMES (b) a fraction, the numerator of which is the highest Days Sales Outstanding for the most recent 12 Calculation Periods and the denominator of which is 360.

Servicing Reserve means, for any month, the product (expressed as a percentage) of (a) 1%, times (b) a fraction, the numerator of which is the highest Days Sales Outstanding for the most recent 12 months and the denominator of which is 360.

Servicing Reserve means, on any date of determination, the product of: (a) the highest Day Sales Outstanding Ratio during the 12 months ending with the most recent Calculation Period, (b) the Stress Factor, (c) 2.40%, and (d) 1/360.

Servicing Reserve. With respect to any Due Period, the product of (a) the highest Days Sales Outstanding Ratio during the most recent twelve-month period, (b) the Stress Factor, (c) 2.40% and (d) 1/360.