Additional Reserve definition

Additional Reserve shall equal $5,000,000, in the aggregate, which shall be a reserve above and beyond the Reserve Fund to be funded pursuant to Paragraph (b)(ii) of Schedule 3.4; provided, however, that the Additional Reserve need not be a “cash” reserve, but rather the Manager may, to the maximum extent permitted under the terms and conditions of each and all of the Construction Financing, Expansion Financing(s) and/or Permanent Financing, maintain unencumbered funds from such credit facility to be used in lieu of such “cash-funded” Additional Reserve.

Additional Reserve means (x) assuming a Landlord Consent and Mortgage is obtained in accordance with Section 3.8 with respect to the Sixth Avenue Lease at any time before the Closing Date or thereafter, the sum of $1,000,000 or (y) if no Landlord Consent and Mortgage is obtained with respect to such lease (or for such time as no such Landlord Consent and Mortgage has been obtained), the sum of $2,500,000.

Additional Reserve means, as the context may require, the VLL5 Additional Reserve or the VLL6 Additional Reserve. Each Lender’s Additional Reserve is several and not joint with the Additional Reserve of the other Lender.

Examples of Additional Reserve in a sentence

• Additional Reserve Costs......................................79 SECTION 2.22.

• After the Additional Reserve Amount has been transferred to the Non-Objecting Creditors’ Reserve, 100% of all released distributable value from any Segregated Reserve will be distributed to Class 13a Equity Holders as soon as reasonably practicable after entry of the applicable Bankruptcy Court order authorizing the release.

• Arcturus will be solely responsible for shipping the Vaccine Doses and for all shipping and handling costs incurred to ship the Initial Reserve Doses, Additional Reserve Doses (if any) and Stockpiling Doses (if any) to the Specified Location.

• Lender shall not withhold Advances for any category or Line Item exceeding the amount specified therefor in the Approved Project Budget so long as such excess amount is properly allocated to Contingency or the Additional Reserve Account in the manner provided for herein.

• Until such time as the Project achieves Final Completion, if the remaining Additional Reserve which has not been designated to Reserve Items falls below $35,000,000, Borrower shall be required to deposit additional funds (a “Replenishment”) such that the Additional Reserve available shall be restored to an amount of no less than $40,000,000.

More Definitions of Additional Reserve

Additional Reserve has the meaning assigned to such term in Section 2.16.

Additional Reserve has the meaning given to such term in clause 56 Additional Reserve;

Additional Reserve the reserve established and maintained by Borrower pursuant to SECTION 4.1X.

Additional Reserve shall have the meaning set forth in subsection 2.2.

Additional Reserve means $1,136,000. Without in any way limiting the rights or discretion of Lender hereunder, in the event Lender fails to receive a satisfactory landlord's waiver with respect to any premises leased by Borrower, Lender shall have the right to establish such reserves with respect thereto as Lender elects to establish in its sole discretion exercised in Good Faith. Lender, in its sole and absolute discretion, may elect to make advances to Borrower in excess of the amounts available pursuant to the advance rates set forth above. Lender shall not apply a percentage less than the A/R % or the Inv % except in the exercise of its Good Faith discretion. Each advance to Borrower shall be in integral multiples of $5,000 and shall, on the day of such advance, be deposited, in immediately available funds, in Borrower's demand deposit account with Lender. The Liabilities constituting the Revolving Loan shall, after the date hereof, be evidenced, in part, by a promissory note made by Borrower in favor of Lender (the "Revolving Note") in the form of Exhibit C with the blanks appropriately filled and shall become immediately due and payable as provided in subsection 9.1 hereof, and, without notice or demand, upon the termination of this Agreement pursuant to subsection 2.8 hereof.

Additional Reserve has the meaning specified in Section 3.03 a. hereof.

Additional Reserve means, collectively, each reserve established by the Administrative Agent pursuant to Section 7.16 hereof; provided, that the amount of each such reserve is equal to $5,000,000.