General Reserve definition

General Reserve means the reserve referred to in section 34;

General Reserve means the reserve established under section 8; “Governor”, means Governor in Cabinet;

General Reserve means appropriated or restricted funds in the form of cash or investments to be used solely for the purpose of absorbing losses.

Examples of General Reserve in a sentence

• The General Reserve Fund will be deposited in the GIC Account (with a corresponding credit recorded to the General Reserve Ledger).

• The Authority shall maintain the General Reserve at 15% of demand liabilities to provide additional funding, if necessary, for demand liabilities and obligations arising from other business of the Authority.

• PML as Administrator (on behalf of the Issuer) will fund the General Reserve Fund from part of the proceeds of the Noteholders' subscription for the Class S Notes in an amount equal to the General Reserve Fund Required Amount as at the Closing Date.

• Any amount representing the General Reserve Fund Required Amount on the Closing Date will be paid into the Transaction Account (with a corresponding credit recorded to the General Reserve Fund Ledger).

• The Authority maintains a General Reserve in accordance with Section 6(1) of the Law.

More Definitions of General Reserve

General Reserve means the reserve established under section 8;

General Reserve means an amount equal to $4,000,000, which amount shall be reduced by $1,000,000 upon Borrowers’ Fixed Charge Coverage Ratio exceeding 1.0 to 1.0 as of the last day of any fiscal year (as demonstrated in audited financial statements delivered in accordance with Schedule 6.1 hereof), effective as of five (5) Business Days after delivery of such financial statements.

General Reserve means funds allocated from the general fund used to meet cash requirements before the proceeds from taxes are available and to meet emergency expenditures. The amount of the general reserve shall not at any time exceed the sum of 15 percent of the total current annual general and water reserve fund budgets.

General Reserve means the general reserve of the Company which has been built through retained undistributed profits and which forms a part of the revenue reserves of the Company, as reflected in the accounts of the Company.

General Reserve has the meaning given to it in SECTION 3 of EXHIBIT A.

General Reserve or “GR” is defined in Section 3.3.17.

General Reserve means the general reserve established pursuant to Clause