Specific Reserves definition

Specific Reserves refers to the amount recorded by the Bank as non-interest expense arising from the establishment of reserves or allowances against loan losses specifically attributable to actual losses or to prospective losses from one or more identified assets, as set forth in a TFR. B. Calculation of Pre-Tax Net Income Benefit 1. Executive shall be entitled to a Pre-Tax Net Income Benefit with respect to the Bank's fiscal years ending June 30, 2004 and June 30, 2005. All calculations leading to the computation of the Pre-Tax Net Income Benefit for each of such years shall be based upon the results reported in the Bank's TFRs for each such 12-month period. No Pre-Tax Net Income Benefit shall be calculated or payable with respect to any period less than a full 12-month fiscal year. 2. As promptly as possible after the filing of the TFR for the Bank's fiscal years ending June 30, 2004 and 2005, as the case may be, but in no event later than 30 days after such filing, the Bank shall (i) determine the Executive's eligibility for the Pre-Tax Net Income Benefit, (ii) calculate the Pre-Tax Net Income Benefit in accordance with this Agreement, and (iii) report the results of such calculation to Executive and the board of directors of the Bank. As promptly as possible after reporting such calculation, but in no event later than 30 days thereafter, Executive and the Bank shall meet to confirm their agreement on the calculation of the Pre-Tax Net Income Benefit. On the date that the Executive and the Bank mutually agree on the calculation of the Pre-Tax Net Income Benefit (the "Determination Date"), the Executive shall have a right to the Pre-Tax Net Income Benefit as provided in this Agreement. 3. As a condition precedent to Executive's eligibility for the Pre-Tax Net Income Benefit with respect to the 2004 and 2005 fiscal years, the Bank shall have achieved the 2004 Asset Target for the fiscal year ending June 30, 2004, and the Bank shall have achieved the 2005 Asset Target for the fiscal year ending June 30, 2005. 4. Provided that the Bank shall have achieved the applicable Asset Target and subject to the provisions of Paragraph C.3, below, governing the payment and crediting, as the case may be, of the Pre-Tax Net Income Benefit, the Bank shall provide to Executive the Pre-Tax Net Income Benefit in an amount equal to the product of multiplying: (1) the Bonus Percentage for which the Executive is eligible for such fiscal year, based on the Bank's Return on Assets Before Income T...
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Specific Reserves refers to the amount recorded by the Bank as non-interest expense arising from the establishment of reserves or allowances against loan losses specifically attributable to actual losses or to prospective losses from one or more identified assets, as set forth in a TFR. B. Calculation of Pre-Tax Net Income Benefit 1. Executive shall be entitled to a Pre-Tax Net Income Benefit with respect to the Bank's fiscal years ending June 30, 2004 and June 30, 2005. All calculations leading to the computation of the Pre-Tax Net Income Benefit for each of such years shall be based upon the results reported in the Bank's TFRs for each such 12-month period. No Pre-Tax Net Income Benefit shall be calculated or payable with respect to any period less than a full 12-month fiscal year. 2. As promptly as possible after the filing of the TFR for the Bank's fiscal years ending June 30, 2004 and 2005, as the case may be, but in no event later than 30 days after such filing, the Bank shall (i) determine the Executive's eligibility for the Pre-Tax Net Income Benefit, (ii) calculate the Pre-Tax Net Income Benefit in accordance with this Agreement, and (iii) report the results of such calculation to Executive and the board of directors of the Bank. As promptly as possible after reporting such calculation, but in no event later than 30 days thereafter, Executive and the Bank shall meet to confirm their agreement on the calculation of the Pre-Tax Net
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Specific Reserves refers to the amount recorded by the Bank as non-interest expense arising from the establishment of reserves or allowances against loan losses specifically attributable to actual losses or to prospective losses from one or more identified assets, as set forth in a TFR.
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Related to Specific Reserves

  • PDP Reserves means the Proven Reserves which are categorized as both “developed” and “producing” under the definitions for oil and gas reserves promulgated by the Society of Petroleum Evaluation Engineers (or any generally recognized successor) as in effect at the time in question and reasonably acceptable to the Administrative Agent.

  • Availability Reserves means, without duplication of any other Reserves or items that are otherwise addressed or excluded through eligibility criteria, such reserves as the Agent from time to time determines in its discretion as being appropriate (a) to reflect the impediments to the Agent’s ability to realize upon the Collateral, (b) to reflect claims and liabilities that the Agent determines may need to be satisfied in connection with the realization upon the Collateral, (c) to reflect criteria, events, conditions, contingencies or risks which the Agent believes in good faith could adversely affect any component of the Borrowing Base, or the assets, business, financial performance or financial condition of any Loan Party, or (d) to reflect that a Default or an Event of Default then exists. Without limiting the generality of the foregoing, Availability Reserves may include, in the Agent’s discretion, (but are not limited to) reserves based on: (i) rent; (ii) customs duties, and other costs to release Inventory which is being imported into the United States; (iii) outstanding Taxes and other governmental charges, including, without limitation, ad valorem, real estate, personal property, sales, claims of the PBGC and other Taxes which may have priority over the interests of the Agent in the Collateral; (iv) salaries, wages and benefits due to employees of any Borrower, (v) Customer Credit Liabilities, (vi) customer deposits, (viii) reserves for reasonably anticipated changes in the Appraised Value of Eligible Inventory between appraisals, (viii) warehousemen’s or bailee’s charges and other Permitted Encumbrances which may have priority over the interests of the Agent in the Collateral, (ix) amounts due to vendors on account of consigned goods, (x) Cash Management Reserves, (xi) Bank Products Reserves and (xii) royalties payable in respect of licensed merchandise.

  • Loss Reserve Percentage means, at any time, the product of (b) 2.50, multiplied by (b) the highest average of the Default Ratios for any three consecutive calendar months during the twelve most recent calendar months multiplied by (c) the Loss Horizon Ratio.

  • Proved Undeveloped Reserves means Proved Reserves which are categorized as “Undeveloped” in the Definitions.

  • Domestic Reserve Percentage means for any day that percentage (expressed as a decimal) which is in effect on such day, as prescribed by the Board of Governors of the Federal Reserve System (or any successor) for determining the maximum reserve requirement (including without limitation any basic, supplemental or emergency reserves) for a member bank of the Federal Reserve System in New York City with deposits exceeding five billion dollars in respect of new non-personal time deposits in dollars in New York City having a maturity comparable to the related Interest Period and in an amount of $100,000 or more. The Adjusted CD Rate shall be adjusted automatically on and as of the effective date of any change in the Domestic Reserve Percentage.