Specific Reserve definition

Specific Reserve has the meaning ascribed to such term in Clause 8.5.2.

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Specific Reserve means, at any time, an amount equal to the greater of (i) $3,000,000.00 or (ii) ten percent (10%) of clauses (a) – (d) of the Borrowing Base.

Specific Reserve means, in respect of any Loan Asset, the reserve taken on the books of BMO, related to such Loan Asset, as notified in writing by BMO, or any of its Affiliates to the Borrower (or the Manager on its behalf).

Examples of Specific Reserve in a sentence

Any event taken into account in the Specific Reserve shall be taken into account only once, and only with respect to such reserve (to the exclusion of the Holdback Reserve).
Any event taken into account in the Holdback Reserve shall be taken into account only once, and only with respect to such reserve (to the exclusion of the Specific Reserve).
Once a Specific Reserve is determined, a General Reserve shall be determined.
Seller irrevocably authorizes MBFG, and MBFG reserves the right, to pay these amounts from Seller’s Specific Reserve Account.
Any event taken into account in the Specific Reserve shall be taken into account only once, and only with respect to such reserve (to the exclusion of the Holdback Reserve (and the Reserve referred to in Clause 8.5.3 (as the case may be))).
Amounts in the Specific Reserve Account shall be paid to Seller only after all obligations of Seller to MBFG have been satisfied in full.
The total value of these identified items to be reserved for is the Specific Reserve.
Seller hereby authorizes MBFG to charge and set-off against the Specific Reserve Account any amounts due MBFG hereunder at any time, without prior notice to Seller.
Specific Reserve 352 Note: The excess and obsolete inventory report is a system generated report which calculates the reserve for each individual part number.
Each Group Member shall review the aged accounts receivable listing as of the Effective Time and determine whether any entire customer account balance or any selected invoice amount or other unpaid amount, should be deemed uncollectible in whole or in part in the judgment of the management of the Group Member or the Company The total of these identified uncollectible amounts shall constitute the Specific Reserve.

More Definitions of Specific Reserve

Specific Reserve means the sum of the amounts in clauses (ii) and (iii) in the definition of the Bad Debts Reserve.

Specific Reserve means an amount equal to the greater of (x) $7,500,000 and (y) fifteen percent (15%) of the Revolving Credit Facility.

Specific Reserve means the reserve established by the Servicer (in accordance with GAAP and, to the extent consistent with GAAP, in a manner consistent with the practices of the Originator as in effect on the date hereof) in respect of the Receivables of any specific Obligor that the Servicer has determined to be a collection risk.

Specific Reserve means the amount, if any, established by the Bank or Bancshares as a reserve against an identified loss associated with a loan or lease receivable held by the Bank or Bancshares, including any participations held by the Bank or Bancshares.