Interest Reserves definition

Interest Reserves means, with respect to any Indebtedness, the aggregate of all sums held by any applicable lender as reserves for future interest payments in respect of the Borrowing Group’s Share of such Indebtedness.
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Interest Reserves means all reserves that the Administrative Agent, in its reasonable credit judgment, establishes from time to time for accrued interest on the Obligations.
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Interest Reserves means, as of any date set forth on Schedule I-1, the amount set forth opposite such date on Schedule I-1; provided, that no portion of the Interest Reserve scheduled to be released on any April 1st or October 1st pursuant to Schedule I-1 shall be released prior to the payment of interest on the Subordinated Notes for the applicable interest period with respect to the Subordinated Notes ending on such date, but shall instead be released concurrently with the payment of interest on the Subordinated Notes for such applicable interest period.
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Examples of Interest Reserves in a sentence

  • The Interest Reserves are not segregated funds as such, but rather reserves of disbursable Loan proceeds that may be Advanced only in accordance with this Agreement.

  • Interest Reserve II shall be reserved until September 1, 2009, and thereafter will remain reserved unless and until the Loan is in balance under Section 3.3, and nothing in this Section alters the obligation of the Borrower to maintain the Loan in balance pursuant to Section 3.3 at all times, and the Borrower agrees that no part of the Interest Reserves shall be treated as available loan proceeds for completing the Project when calculating whether the loan is in balance.

  • Notwithstanding anything herein to the contrary, Disbursements for Operating Deficits, to the extent provided in the Budget under the Line Item for "Interest Reserves" (OPERATING DEFICIT ADVANCES) shall be made not more frequently than once per calendar month and on the same date as the Disbursement for other costs is made for such month.

  • Royalty Interest Reserves means those reserves related to our royalty entitlement on lands to which we hold fee title and which have been leased to third parties, plus any reserves related to other royalty interests, such as overriding royalties, to which we are entitled.

  • The price assumptions used over the next seven years are summarized in the table below: Year 2013 2014 2015 2016 2017 2018 2019 Glacier Gross Working Interest Reserves Reconciliation Proved Opening balance Dec.

  • However, it is the intention of the parties to allocate the Tax and Interest Reserves to Items attributable to both CFI and Holdings in the manner described in Section 3.

  • After Royalties(2) Light & Medium Natural Gas Bitumen Heavy Oil Oil & NGLs & CBM Reserves Category (MMbbls) (MMbbls) (MMbbls) (Bcf ) Proved Reserves Developed Producing 134 102 73 930 Developed Non-Producing 10 1 7 31 Undeveloped 1,149 51 18 6 Total Proved Reserves 1,293 154 98 967 Probable Reserves 499 79 46 324 Total Proved plus Probable Reserves 1,792 233 144 1,291 (2) Includes Royalty Interest Reserves.

  • Subject to the provisions of Articles VI and VII, such accrued interest shall be payable from the Interest Reserves established pursuant to the Project Budget; provided, however, that the allocation of Loan funds to the Interest Reserve shall not limit Borrower's obligation to pay such accrued interest.

  • All reserves data presented herein in respect of the acquired PROP interest is derived from the report prepared by Sproule Associated Limited dated October 29, 2021, where they evaluated the crude oil, natural gas and natural gas liquids reserves attributable to the PROP interest of the PROP assets and the net present value of future net revenue attributable to those reserves effective July 1, 2021 (the “ Partnership Interest Reserves Report”).

  • No transfer of existing consolidated Tax and Interest Reserves or Advance Payments of Taxes will be made by CFI to Holdings.

Related to Interest Reserves

  • 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.

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

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

  • Interest Reserve Loan Each Actual/360 Mortgage Loan.

  • Interest Reset Period The period beginning on the applicable Reset Date and ending on the calendar day preceding the next Reset Date.

  • Interest Reset Date means, with respect to any Interest Period with respect to the Floating Rate Notes, the first day of such Interest Period; provided that if any Interest Reset Date would otherwise be a day that is not a Business Day, that Interest Reset Date will be postponed to the next succeeding day that is a Business Day, except that if that Business Day falls in the next succeeding calendar month, such Interest Reset Date will be the immediately preceding Business Day.

  • Accumulation Reserve Funding Period shall not apply if the Calculation Agent on behalf of the Issuer notifies the Indenture Trustee that it expects the Accumulation Period Length to be adjusted to one (1) month, and otherwise shall mean a period commencing on the first Distribution Date on which a condition in the right column of the following table was in effect on the immediately preceding Distribution Date, if the Distribution Date is a Distribution Date described in the corresponding left column of the following table, and ending on the Distribution Date immediately preceding the earlier to occur of:

  • Replacement Reserve As defined in Section 9.5.1.

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

  • Reserve Interest Rate With respect to any Interest Determination Date, the rate per annum that the Trustee determines to be either (i) the arithmetic mean (rounded upwards if necessary to the nearest whole multiple of 1/16%) of the one-month U.S. dollar lending rates which New York City banks selected by the Trustee are quoting on the relevant Interest Determination Date to the principal London offices of leading banks in the London interbank market or (ii) in the event that the Trustee can determine no such arithmetic mean, the lowest one-month U.S. dollar lending rate which New York City banks selected by the Trustee are quoting on such Interest Determination Date to leading European banks.

  • Rent Reserve means, with respect to any store, warehouse distribution center, regional distribution center or depot where any Inventory subject to Liens arising by operation of law is located, a reserve equal to two (2) months’ rent at such store, warehouse distribution center, regional distribution center or depot.

  • Yield Reserve means, on any date, an amount equal to: (a) the Capital at the close of business of the Servicer on such date multiplied by (b)(i) the Yield Reserve Percentage on such date divided by (ii) 100% minus the Yield Reserve Percentage on such date.

  • Cash Management Reserves means such reserves as the 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.

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

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

  • Excess Reserve Fund Account The separate Eligible Account created and maintained by the Trustee pursuant to Sections 3.07(b) and 3.07(c) in the name of the Trustee for the benefit of the Regular Certificateholders and designated "Deutsche Bank, National Trust Company in trust for registered Holders of Morgan Stanley ABS Capital I Inc. Trust 2006-HE5, Mortgage Pass-Through Xxxxxfxxxxxx, Series 2006-HE5." Funds in the Excess Reserve Fund Account shall be held in trust for the Regular Certificateholders for the uses and purposes set forth in this Agreement. Amounts on deposit in the Excess Reserve Fund Account shall not be invested.

  • Interest Funds With respect to each Mortgage Group and any Payment Date, (a) the sum of, without duplication, (1) all interest collected (other than the interest portion of Payaheads and Prepayment Premiums) or advanced in respect of Scheduled Payments on the Mortgage Loans in such Mortgage Group during the related Due Period by the Servicer, the Subservicer, the Master Servicer or the Indenture Trustee (solely in its capacity as successor Master Servicer), minus, (x) to the extent provided under Sections 4.02(e)(3) and (4) and Sections 5.08(i) and (ii) herein, previously unreimbursed Advances and Nonrecoverable Advances due to the Servicer, the Subservicer, the Master Servicer or the Indenture Trustee (solely in its capacity as successor master servicer) to the extent allocable to interest and the allocable portion of previously unreimbursed Servicing Advances with respect to the Mortgage Loans in such Mortgage Group, (y) the Servicing Administration Fee and Master Servicing Fee with respect to such Mortgage Loans in such Mortgage Group and (z) any fees and expenses of any Custodian with respect to the Mortgage Loans in such Mortgage Group to the extent not paid by the Seller or its Affiliates, (2) any Compensating Interest Payments or payments in respect of Prepayment Interest Shortfalls paid by the Master Servicer pursuant to Section 5.21 with respect to the related Prepayment Period with respect to the Mortgage Loans in such Mortgage Group, (3) the portion of any Purchase Price or Substitution Amount paid with respect to the Mortgage Loans in such Mortgage Group during the related Prepayment Period allocable to interest, and (4) all Net Liquidation Proceeds, Insurance Proceeds and any other recoveries collected with respect to the Mortgage Loans in such Mortgage Group during the related Prepayment Period, to the extent allocable to interest, as reduced by (b) such Mortgage Group’s pro rata share of: (i) the Owner Trustee Fee, (ii) any costs, expenses or liabilities reimbursable or otherwise due to the Master Servicer, Servicer, the Subservicer, the Indenture Trustee, any Custodian, the Owner Trustee or the Trust Administrator to the extent provided in this Agreement, the Trust Agreement, the Indenture and any Custodial Agreement and (iii) any Net Swap Payment.

  • Interest Funding Account means the trust account designated as such and established pursuant to Section 5.01(a).

  • Basis Risk Reserve Fund A fund created as part of the Trust Fund pursuant to Section 5.06 of this Agreement but which is not an asset of any of the REMICs.

  • FF&E Reserve means, for any Person or any Hotel Property at any time, a reserve equal to four percent (4%) of gross revenues from any Hotel Property owned by such Person or from such Hotel Property, as applicable, for the Rolling Period of the Parent most recently ended for which financial statements have been, or are required to be, delivered to the Banks hereunder.

  • 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.

  • Cash Reserve means for any Financed Receivable which has been paid in full during a Monthly Period, the amount by which the amount(s) paid on such Financed Receivable exceeds the Advance made on such Financed Receivable.

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

  • Net WAC Rate Carryover Reserve Account The Net WAC Rate Carryover Reserve Account established and maintained pursuant to Section 4.10.

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

  • SOFR Reserve Percentage means, for any day, the maximum effective percentage in effect on such day, if any, as prescribed by the Board of Governors of the Federal Reserve System (or any successor) for determining the reserve requirements (including, without limitation, supplemental, marginal and emergency reserve requirements) with respect to SOFR funding.