Bad Debt Reserve Sample Clauses

Bad Debt Reserve. BestCare’s bad debt reserve balance is $51,324 as of the Effective Date. Arcadia shall pay BestCare $20,000 of this reserve in cash on April 8, 2011 and the remaining $31,324 with the first interest payment on the Promissory Note. Any charges or write-offs for bad debt on or after the Effective Date will not reduce the amounts paid to BestCare.
Sample 1
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Bad Debt Reserve. Prior to Closing, Primary Shareholders and Purchaser shall review Company's outstanding accounts receivable (including the payment history and credit worthiness thereof) and shall each cooperate with each other in good faith to determine the amount of any bad debt reserve (if any) that should be included as part of the Estimated Closing Balance Sheet and the Final Closing Balance Sheet.
Sample 1
Bad Debt Reserve. Borrowers shall maintain a bad debt reserve of ---------------- at least 1.8% of the aggregate Net Lease Receivables.
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Bad Debt Reserve. Borrower shall maintain on its books and records a Bad Debt Reserve of the ratio of actual losses to average net receivables to the then most recent twelve (12) month period to be reviewed and tested on the last day of each month. Any deficiency in the amount of the Bad Debt Reserve maintained by Borrower shall result in a commensurate adjustment to Borrower's earnings and Adjusted Net Worth for purposes of calculating the financial covenants and earnings.
Sample 1
Bad Debt Reserve. Company will hold back or cause the LECs to hold back an amount estimated to be sufficient to set off any Bad Debt that COMPANY CONFIDENTIAL AND PROPRIETARY 4 Company Customer may be determined after the date Company makes its payment to Customer for Customer’s Qualifying Records billed and collected by the LEC. Any Bad Debt Reserve withheld by the LEC generally will be passed through to Customer on the same percentage or the same amount as Company was assessed by the individual LECs. However, once sufficient data becomes available to Company to enable Company to determine a specific Bad Debt history attributable to Customer, the Bad Debt Reserve may be increased or decreased, as the case may be, based on Customer’s historical Bad Debt amounts, Customer Service, adjustment levels, and other factors, or the LEC amount, whichever is higher. A schedule setting forth the past twelve months’ average Bad Debt Reserve by each LEC will either be disclosed or made available to Customer.
Sample 1
Bad Debt Reserve. Each month a reserve is calculated by the Senior Credit & Collections Analyst for uncollectible accounts based on the A/R Aging Report. The aging is downloaded into excel and sorted by days overdue. Any accounts over 60 days past due are included in the analysis. The customers’ accounts are discussed with the A/R Administrators on a case by case basis. Any accounts that are known to be collectible are considered exceptions to the reserve, and are subtracted from the total population. Past due accounts from 61 – 90 days are reserved for at 25%; 91 – 120 days are reserved for at 50%; 121 – 150 days are reserved for at 75%; over 150 days past due are reserved for at 100%. Each month the bad debt reserve calculation is reconciled to the general ledger by the Senior Credit and Collections Analyst (REV38). The V.P. of Finance then reviews, signs, and dates the bad debt reserve reconciliation (REV39). The Senior Credit & Collections Analyst compares the bad debt reserve per the calculation to the bad debt reserve general ledger account and makes a journal entry to adjust the account balance to the reserve calculation with the offsetting debit/credit going to uncollectible accounts expense. Reserve for Future Debit Memos Each month a reserve is calculated by the Senior Credit & Collections Analyst for deductions (DNotes) that are estimated to be taken by customers for various reasons (e.g. shortages, violations, deal sheets.) When a claim is made by a customer, the reserve is estimated at 100% of the value of the claim. Each DNote is discovered by analyzing the remittances from customers included with their payments. Each DNote is then researched by the A/R Administrator / Research Analyst. The Research Analyst handles deductions related to shortages, violations, pricing, and returns. The A/R Administrators handle anything that has to do with the deal sheets. Deal sheets are the pricing / promotions and order discount claims. Each month the debit notes reserve calculation is reconciled to the general ledger by the Senior Credit and Collections Analyst. (REV40). The V.P. Finance then reviews, signs, and dates the debit notes reserve reconciliation (REV41). The Senior Credit & Collections Analyst compares the debit notes reserve per the calculation to the reserve for future debit memos general ledger account and makes a journal entry to adjust the account balance to the reserve calculation with the offsetting debit/credit going to the sales returns and allowances ac...
Sample 1

Related to Bad Debt Reserve

  • Interest Reserve No later than thirty (30) days after Closing, Borrower shall deposit the amount of $500,000.00 (the “Interest Reserve”) into an account established by Administrative Agent in Borrower’s name but exclusively controlled by Administrative Agent. Provided that no Event of Default shall have occurred and be continuing and the Property is not generating positive NOI, Administrative Agent shall make disbursements from the Interest Reserve for payment when due of any accrued and unpaid interest on the Loan that cannot be paid with NOI. Borrower acknowledges and agrees that the payment of such accrued and unpaid interest by the method described herein is for its convenience and benefit. In the event that the Interest Reserve will be exhausted prior to the Property achieving a Debt Service Coverage Ratio of 1.20 to 1.00, within ten (10) days of Administrative Agent’s request Borrower shall deposit into the Interest Reserve an amount sufficient to bring the balance of the Interest Reserve to $500,000.00. If at any time there are no funds remaining in the Interest Reserve, Administrative Agent shall have no obligation for funding of accrued and unpaid interest, whereupon Borrower shall be and remain responsible for the continuation of all such payments from its own funds. Once the Property achieves a Debt Service Coverage Ratio of 1.20 to 1.00 for at least ninety (90) consecutive days as determined by Administrative Agent, all payments of interest on the Loan shall be paid from NOI and any funds remaining in the Interest Reserve shall be disbursed to Borrower; provided, however, that in the event the Debt Service Coverage Ratio ever falls below 1.20 to 1.00 as determined by Administrate Agent, then Administrative Agent shall reinstate the usage of the Interest Reserve and Borrower’s obligation to fund and replenish the Interest Reserve as provided in this Section 2.15.

  • Debt Service Reserve Reserved.

  • Stock Reserve The Company shall at all times during the term of this Option Agreement reserve and keep available such number of shares of Stock as will be sufficient to satisfy the requirements of this Option Agreement.

  • Debt Service Reserve Account The Debt Service Reserve Account shall have been funded (or credited with funds), to the extent required, in an amount equal to the Debt Service Reserve Required Amount in accordance with the Depositary Agreement.

  • Required Reserve Amount So long as this Warrant remains outstanding, the Company shall at all times keep reserved for issuance under this Warrant a number of shares of Common Stock at least equal to 100% of the maximum number of shares of Common Stock as shall be necessary to satisfy the Company’s obligation to issue shares of Common Stock under the Warrants then outstanding (without regard to any limitations on exercise) (the “Required Reserve Amount”); provided that at no time shall the number of shares of Common Stock reserved pursuant to this Section 1(g) be reduced other than in connection with any exercise of Warrants or such other event covered by Section 2(c) below. The Required Reserve Amount (including, without limitation, each increase in the number of shares so reserved) shall be allocated pro rata among the holders of the Warrants based on the number of shares of Common Stock issuable upon exercise of Warrants held by each holder thereof on the Issuance Date (without regard to any limitations on exercise) (the “Authorized Share Allocation”). In the event that a holder shall sell or otherwise transfer any of such holder’s Warrants, each transferee shall be allocated a pro rata portion of such holder’s Authorized Share Allocation. Any shares of Common Stock reserved and allocated to any Person which ceases to hold any Warrants shall be allocated to the remaining holders of Warrants, pro rata based on the number of shares of Common Stock issuable upon exercise of the Warrants then held by such holders thereof (without regard to any limitations on exercise).

  • Interest Reserve Account The Certificate Administrator shall establish and maintain the Interest Reserve Account in the Certificate Administrator’s name, on behalf of the Trustee, for the benefit of the Certificateholders. The Interest Reserve Account shall be established and maintained as a non-interest bearing Eligible Account. On each Master Servicer Remittance Date occurring in January (except during a leap year) or February (commencing in 2018) (unless, in either such case, the related Distribution Date is the final Distribution Date), the Master Servicer shall remit to the Certificate Administrator for deposit into the Interest Reserve Account, in respect of all the Mortgage Loans that accrue interest on the basis of a 360-day year and the actual number of days in the related month, an amount equal to one day’s interest at the related Net Mortgage Rate on the Stated Principal Balance of each such Mortgage Loan as of the close of business on the Distribution Date in the month preceding the month in which such Master Servicer Remittance Date occurs, to the extent a Monthly Payment or P&I Advance is made in respect thereof (all amounts so deposited in any consecutive January (if applicable) and February, “Withheld Amounts”). On or prior to the Master Servicer Remittance Date in March (or February if the final Distribution Date occurs in such month) of each calendar year (commencing in 2018), the Certificate Administrator shall transfer to the Lower-Tier REMIC Distribution Account the aggregate of all Withheld Amounts on deposit in the Interest Reserve Account.

  • Investment of Cash Collateral Pursuant to the SLA, the Client shall have the right to invest Cash Collateral received in respect of any loan, subject to an obligation, upon the termination of the loan, to return to the Approved Borrower the amount of cash initially pledged (as adjusted for any interim marks-to-market).

  • Stock Reserved The Company shall at all times during the term of this Agreement reserve and keep available the number of Common Shares necessary and sufficient to satisfy the terms of this Agreement.

  • Reserve Account Draw Amount On or before two Business Days before a Payment Date, the Servicer will calculate the Reserve Account Draw Amount for the Payment Date and will direct the Indenture Trustee to withdraw from the Reserve Account and deposit the Reserve Account Draw Amount into the Collection Account on or before the Payment Date.

  • Monthly Debt Service Payments Borrower shall pay to Lender (a) on the Closing Date, an amount equal to interest only on the outstanding principal balance of the Loan for the initial Accrual Period and (b) on September 1, 2010, and on each Payment Date thereafter up to and including the Maturity Date, the Monthly Debt Service Payment Amount, which payments shall be applied first to accrued and unpaid interest and the balance to principal.

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