Warranty Reserve definition

Warranty Reserve means a reserve equal to one quarter of the Borrower’s annual warranty expense as set forth on its general ledger.

Warranty Reserve means the value of funds specified in these T&Cs that is held (blocked) by Genome on a separate subaccount of Your Genome Wallet, can be used to cover Your outstanding fees, charges and other financial liabilities, as detailed in Clause 5.9 below, and shall be released at the time of the Agreement termination and closure of Your Genome Wallet.

Warranty Reserve means a reserve established by the Administrative Agent in its reasonable discretion against the principal balance of Receivables of the Loan Parties which represents 60 days of average warranty claims, as determined by the Administrative Agent in connection with its quarterly review.

Examples of Warranty Reserve in a sentence

• Warranty Reserve The Company calculates a warranty reserve for future returns of products currently sold, as per the terms of the Company’s Warranty.

• Any Payables, Accrued Vacation Pay or Warranty Reserve outstanding on the Closing Date.

• Any such adjustment to the Aggregate Navistar Standard Warranty Reserve shall require the Majority Consent of the Board.

• No later than seventy (70) calendar days following the end of such Fiscal Year, (i) if the Current Aggregate Navistar Standard Warranty Reserve is greater than the Default Warranty Reserve, then Navistar shall pay the amount of such difference in cash to the Company, and (ii) if the Current Aggregate Navistar Standard Warranty Reserve is less than the Default Warranty Reserve, then the Company shall pay the amount of such difference in cash to Navistar.

• Accordingly, each time the Company prepares its audited, annual financial statements pursuant to Section 18.12 (or, upon mutual agreement of the Members, on a more frequent basis), the Company shall, in accordance with the process described in the following sentence, adjust its estimate for the Aggregate Navistar Standard Warranty Reserve.

More Definitions of Warranty Reserve

Warranty Reserve shall have the meaning specified in Subsection 1.3.3 hereof.

Warranty Reserve means, as of any date of determination, the amount of reserves that Parent has recorded in its books as of such date, in accordance with GAAP, in respect of actual or estimated warranty claims relating to products or services provided by Parent and its Subsidiaries.

Warranty Reserve means the warranty reserve accrued by Seller included in account 2001-275 (Warranty Reserve) on the Seller Balance Sheet or Seller’s Books and Records to the extent such warranty reserve has been included therein in conformity with GAAP applied on a basis consistent with the Reference Balance Sheet.

Warranty Reserve means a dollar sum certain, as determined by the initial Core Group at the time of Substantial Completion that reflects the amount the initial Core Group is allocating for warranty work during the Warranty Period.

Warranty Reserve means the amount set forth as warranty reserve on the Adjusted Balance Sheet as a reserve for Warranty Claims arising from goods or services of the Company sold and delivered on or prior to the date of the Adjusted Balance Sheet.

Warranty Reserve means the reserves for warranty obligations and returns and allowances totalling $15,000, to be reflected on the Closing Statement.

Warranty Reserve means, at any time, the greater of (i) the product of (a) 1.5 and (b) a fraction, the numerator of which is the average of the Warranty Accruals during each of the three (3) months then most recently ended, and the denominator of which is the average of the cumulative sales of the Originators during each of the three (3) months then most recently ended and (c) the cumulative sales of the Originators during the month most recently ended and (ii) the amount of Warranty Accruals during the month then most recently ended.