Equipment Reserve definition

Equipment Reserve means, at any time of determination, an amount equal to the Orderly Liquidation Value of all Equipment listed on the most recently delivered Schedule 1.01(g), as determined in a manner consistent with the definition of Equipment Availability; provided, however, that on the Equipment Reserve Release Date, the Equipment Reserve shall automatically be reduced to $0.00.
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Equipment Reserve means, effective (A) upon the earlier to occur of the (i) due date for the delivery of the Borrowing Base Certificate for March 2020 (as determined by Section 8.1 hereof), and (ii) date of delivery of the Borrowing Base Certificate due for March 2020, an amount equal to $200,000; and (B) upon the earlier to occur of the (i) due date for the delivery of the Borrowing Base Certificate for June 2020 (as determined by Section 8.1 hereof), and (ii) date of delivery of the Borrowing Base Certificate due for June 2020, an amount equal to $400,000.
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Equipment Reserve as currently defined in Section 1.01 of the Credit Agreement is hereby deleted in its entirety and replaced with the following:
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Examples of Equipment Reserve in a sentence

  • Additionally, a rate covenant exists under the terms of the use agreement, wherein the University must periodically revise fees, rents, and charges so that housing complex revenues are sufficient in each fiscal year to equal an amount necessary to maintain a debt service coverage ratio of at least 1.15, plus an amount not less than the sum of the required deposit to the Maintenance and Equipment Reserve Fund and the required deposit to the Reserve Fund.

  • The Capital Equipment Reserve will be used for the purpose and replacement of capital equipment belonging to the Students' Union.

  • Attachment A to this report provides a detailed project listing of debt-funded projects, and Attachment B provides a detailed listing of projects funded from the Vehicle and Equipment Reserve.

  • In accordance with the provisions of K.S.A. 12-1,117, acts amendatory thereof, and in the event of repeal of K.S.A. 12-1,117 or acts amendatory thereof, in any event, there is hereby established a Municipal Equipment Reserve Fund, which shall be used by the City to finance the acquisition of equipment necessary for the performance and setting aside funds for operation of the departments of the City.

  • The Capital Equipment Reserve provides for the timely replacement of equipment required to operate the I-95 Ashfill.

  • Knowledge is mainly classified as tacit and explicit (Nonaka, 1994; Søberg & Chaudhuri, 2018).

  • Note that I do not control for students’ prior achievement scores.

  • State funds appropriated to the State Board of Community Colleges for the Equipment Reserve Fund shall be allocated to institutions in accordance with the equipment allocation formula for the fiscal period.

  • An amount of money not less than One Hundred Thousand Dollars per year will be placed in the Capital Equipment Reserve or the Students' Union Building Expansion Reserve, or divided between the two; b.

  • Resolved, AMENDMENT that the Board of Education of the St. Lawrence-Lewis BOCES, #2012-089 upon the recommendation of District Superintendent Burns, WITHDRAWL does hereby approve the amendment of the Board Resolution FROM #2012-089 to read up to the amount of $29,000 from the CAPITAL Occupational Education Equipment Reserve Fund for Allied EQUIPMENT Health and the Computer Business Program, pending SED RESERVE approval.


More Definitions of Equipment Reserve

Equipment Reserve means reserves established from time to time by the Administrative Agent in its Permitted Discretion against Eligible Equipment, including, without limitation, on account of (a) the salability of such Eligible Equipment, (b) factors that negatively affect the market value or Net Orderly Liquidation Value of such Eligible Equipment, (c) damage, (d) taxes and other liabilities secured by Liens upon Eligible Equipment that are or may become senior to the Administrative Agent’s Lien and (e) other reasonable costs, expenses and amounts that the Administrative Agent and the Secured Parties may incur or be required to pay to realize upon Eligible Equipment.
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Equipment Reserve means reserves established from time to time by the Administrative Agent and/or the Revolver Agent in its or their Permitted Discretion (subject to Section 10.18) against Eligible Equipment, including, without limitation, on account of (a) the salability of such Eligible Equipment, (b) factors that negatively affect the market value or Net Orderly Liquidation Value of such Eligible Equipment, (c) damage, (d) taxes and other liabilities secured by Liens upon Eligible Equipment that are or may become senior to the Administrative Agent’s Lien and (e) other reasonable costs, expenses and amounts that the Administrative Agent and the Secured Parties may incur or be required to pay to realize upon Eligible Equipment.
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Equipment Reserve means, (i) from the Second Amendment Closing Date up to the Equipment Reserve Release 1 Certain language has been italicized in this Second Amendment solely for purposes of indicating new language in this Second Amendment. Deletions are not reflected. Date, an amount equal to the Net Book Value of Borrowers’ Equipment that is subject to the Equipment Utilization Agreement at any given time and listed on Schedule 1.01(g) hereto as amended from time time, which on the Second Amendment Date shall equal $7,000,000 and (ii) from and after the Equipment Reserve Release Date, an amount equal to $0.
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Equipment Reserve shall have the meaning given such term in the Management Agreement (as hereinafter defined).
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Equipment Reserve means reserves established by Administrative Agent in its Credit Judgment to reflect factors that could reasonably be expected to negatively impact the Value of Equipment, including change in salability or obsolescence.
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Equipment Reserve means an amount (as determined by Agent from time to time) equal to the amount by which (a) the sum of: (i) the amount derived under clause (b) of the definition of “Borrowing Base” at such time, plus (ii) the principal amount of Capex Loans outstanding at such time; exceeds (b) the sum of: (i) the product of (A) seventy-five percent (75%) times (B) the “net forced liquidation value” of Eligible Equipment and Eligible Additional Equipment of Borrowers as determined by the most recent appraisal of Equipment received by Agent, plus (ii) to the extent any Eligible Additional Equipment which is the subject of a Capex Loan is not reflected on such appraisal referenced in clause (b)(i)(B), eighty percent (80%) of the Hard Costs of such Eligible Additional Equipment.”
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Related to Equipment Reserve

  • Replacement Reserve As defined in Section 9.5.1.

  • Replacement Reserve Account shall have the meaning set forth in Section 7.3.1 hereof.

  • Replacement Reserve Monthly Deposit shall have the meaning set forth in Section 7.3.1 hereof.

  • Replacement Reserve Fund shall have the meaning set forth in Section 7.3.1 hereof.

  • Rent Reserve means, with respect to any plant, warehouse distribution center or other operating facility where any Inventory subject to landlords’ Liens or other Liens arising by operation of law is located and a Collateral Access Agreement has not been duly executed and delivered by the lessor or bailee at such location, a reserve equal to three (3) month’s rent at such plant, warehouse distribution center, or other operating facility, and such other reserve amounts that may be determined by the Administrative Agent in its reasonable discretion.

  • Interest Reserve means, for any Calculation Period, the product (expressed as a percentage) of (i) 1.5 times (ii) the Alternate Base Rate as of the immediately preceding Cut-Off Date times (iii) a fraction the numerator of which is the highest Days Sales Outstanding for the most recent 12 Calculation Periods and the denominator of which is 360.

  • Replacement Reserve Agreement means a Replacement Reserve and Security Agreement, reasonably required by the Lender, and completed in accordance with the requirements of the DUS Guide.

  • Operating Reserve means generation capacity or load reduction capacity which can be called upon on short notice by either Party to replace scheduled energy supply which is unavailable as a result of an unexpected outage or to augment scheduled energy as a result of unexpected demand or other contingencies.

  • FF&E Reserve shall have the meaning given such term in Section 5.1.2(a).

  • Interest Reserve Account As defined in Section 3.4(d).

  • Reserve Account Draw Amount means, for any Payment Date, an amount equal to the lesser of (a) the Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount of cash or other immediately available funds on deposit in the Reserve Account (excluding any net investment earnings) on such Payment Date; provided, however, that if such Payment Date is the Redemption Date, the “Reserve Account Draw Amount” shall mean an amount equal to the amount of cash or other immediately available funds on deposit in the Reserve Account on the Redemption Date.

  • Cash Reserve means (i) at any time after the occurrence and during the continuation of a Level One Trigger, [*] of the aggregate Investment at such time and (ii) at any other time, an amount equal to 1% of the aggregate Investment at such time.

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];

  • Reserve Draw Amount shall have the meaning specified in subsection 4.12(c).

  • Interest Reserve Amount has the meaning set forth in Section 5.1(d).

  • Series Reserve Account means the Reserve Account for the Series of Bonds established in the Reserve Fund by Supplemental Indenture in an amount equal to the Series Reserve Account Requirement for such Series of Bonds.

  • Utility Reservations means Seller’s interest in the right to receive immediately on and after Closing and continuously consume thereafter water service, sanitary and storm sewer service, electrical service, gas service and telephone service on and for the Land and Improvements in capacities that are adequate continuously to use and operate the Improvements for the purposes for which they were intended, including, but not limited to (i) any right to the present and future use of wastewater, drainage, water and other utility facilities to the extent such use benefits the Real Property, (ii) any reservations of or commitments covering any such use in the future, and (iii) any wastewater capacity reservations relating to the Real Property. Buyer shall be responsible for any requests or documents to transfer the Utility Reservations, at Buyer’s sole cost and expense.

  • Reserve Account Initial Deposit means cash or Eligible Investments having a value of at least $____________.

  • Availability Reserve means without duplication, (a) the Rent and Charges Reserve; (b) the Hedge Product Reserve, (c) the Banking Services Reserve; provided that reserves of the type described in this clause (c) shall be instituted only after consultation with the Lead Borrower; (d) the Priority Payable Reserve; (e) the GST, HST Tax Reserve; (f) the Royalty Reserve; and (g) such additional reserves not otherwise addressed in clauses (a) through (f) above, in such amounts and with respect to such matters, as the Administrative Agent in its Permitted Discretion may elect to establish or modify from time to time. Notwithstanding anything to the contrary in this Agreement, (i) such Availability Reserves shall not be established or changed except upon not less than five (5) Business Days’ (or such shorter period as may be agreed by the Lead Borrower) prior written notice to the Lead Borrower, which notice shall include a reasonably detailed description of such applicable Availability Reserve being established (during which period (a) the Administrative Agent shall, if requested, discuss any such Availability Reserve or change with the Lead Borrower and (b) the Lead Borrower may take such action as may be required so that the event, condition or matter that is the basis for such Availability Reserve or change thereto no longer exists or exists in a manner that would result in the establishment of a lower Availability Reserve or result in a lesser change thereto, in a manner and to the extent reasonably satisfactory to the Administrative Agent), (ii) the amount of any Availability Reserve established by the Administrative Agent, and any change in the amount of any Availability Reserve, shall be limited to such Availability Reserve or changes as the Administrative Agent determines in its Permitted Discretion to be necessary (a) to reflect items that could reasonably be expected to adversely affect the value of the applicable Eligible Accounts or Eligible Inventory or (b) to reflect items that could reasonably be expected to adversely affect the enforceability or priority of the Administrative Agent’s Liens on the applicable Collateral, and (iii) the amount of any Availability Reserve established by the Administrative Agent, and any change in the amount of any Availability Reserve, shall have a reasonable relationship to the event, condition or other matter that is the basis for such Availability Reserve, criteria, rate or such change; provided that (x) no Availability Reserves may be established after the Closing Date based on circumstances, contingencies, events, conditions or matters known to the Administrative Agent as of the Closing Date for which no Availability Reserve was imposed on the Closing Date or criteria included in the definitions of Eligible Accounts or Eligible Inventory, in each case, as in effect on the Closing Date, unless such events, conditions or matters have changed in any material adverse respect since the Closing Date, (y) in no event shall any Availability Reserve with respect to any component of the Borrowing Base duplicate any Availability Reserve or adjustment already accounted for in determining eligibility criteria (including collection and/or advance rates) and (z) no Availability Reserve shall be imposed on the first 5% of dilution of Accounts and thereafter no dilution Availability Reserve shall exceed 1% for each incremental whole percentage in dilution over 5% (it being agreed that partial percentage point reserves are permitted (e.g., a reserve for 0.1 percentage points where dilution is 5.1%). Notwithstanding clause (i) of the preceding sentence, changes to the Availability Reserves solely for purposes of correcting mathematical or clerical errors (and such other changes as are otherwise agreed to by the Lead Borrower) shall only be subject to a notice period of one (1) Business Day, it being understood that no Default or Event of Default shall be deemed to result therefrom, if applicable, for a period of five (5) Business Days.

  • Loss Reserve means, on any date, an amount equal to: (a) the Aggregate Capital at the close of business of the Servicer on such date multiplied by (b)(i) the Loss Reserve Percentage on such date divided by (ii) 1, minus the Loss Reserve Percentage on such date.

  • Expense Reserve Account The trust account established pursuant to Section 10.3(d).

  • Spinning Reserve means the ability to immediately and automatically increase generation or reduce demand in response to a fall in frequency;

  • LC Reserve the aggregate of all LC Obligations, other than (a) those that have been Cash Collateralized; and (b) if no Default or Event of Default exists, those constituting charges owing to the Issuing Bank.

  • Reserve Accounts means the Tax Account, the Insurance Account, the Replacement Reserve Account, the Immediate Repair Account, the Leasing Reserve Account, the Excess Cash Flow Account, the Operating Expense Account, the Ground Rent Account and any other escrow account established by this Agreement or the other Loan Documents (but specifically excluding the Cash Management Account, the Restricted Account and the Debt Service Account).

  • Cash Management Reserves means such reserves as the Administrative Agent, from time to time, determines in its Permitted Discretion as being appropriate to reflect the reasonably anticipated liabilities and obligations of the Loan Parties with respect to Cash Management Services then provided or outstanding.