Operating Reserve Funds definition

Operating Reserve Funds shall have the meaning set forth in Section 7.7.1 hereof.
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Operating Reserve Funds means those funds which are deemed by Tampa Bay Water as necessary to meet any cash flow and revenue collection shortfalls due to inaccuracies in the Annual Reports or Annual Estimates or due to the requirements of the Financing Documents. The amount of Operating Reserve Funds shall be established by Tampa Bay Water policy; provided such amount shall not exceed an amount equal to two times the monthly average Variable Costs as provided in Tampa Bay Water's preliminary budget.
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Examples of Operating Reserve Funds in a sentence

  • Operating Reserve: Funds to be used to provide for operations in anticipation of Property Tax receipts.

  • In order to meet the goals of the Limited Maturity and Operating Reserve Funds, they are invested in a diversified portfolio of high quality fixed income securities with a maximum maturity of ten years.

  • The amount of Operating Reserve Funds shall not exceed an amount equal to two times the monthly average Variable Costs as provided in Tampa Bay Water’s annual budget.Investment earnings on the Operating Reserve remain in the account until the funding requirement is fully met and then may be used for any lawful purpose.

  • The Utility Reserve may be used for any lawful purpose relating to the System, including funding of the Rate Stabilization Account Reserves and Restricted Funds Tampa Bay Water maintains the following funds and accounts to comply with requirements of the financing documents and the Master Water Supply Contract.• Operating Reserve – Tampa Bay Water maintains Operating Reserve Funds.

  • Report on the level of the Operating Reserve and Unrestricted Net Assets on the monthly balance sheet report, in such a way as to clarify actual Operating Reserve Funds as they are currently held.

  • The 2016 Budget proposed to allow PHAs with more than 250 units the flexibility to transfer up to 30 percent of Capital Funds to Operations; allow Operating Reserve Funds to be used not only for operating purposes, but also for capital improvements; and establish a Capital Fund Replacement Reserve to be held by Treasury in LOCCS.

  • SECTION 1Consolidated Information2#4.-7-Objectives #4.Investment ObjectivesIn order to provide for current expenses and long term growth, the District has divided its portfolio into three categories, the Liquid, Limited Maturity and Operating Reserve Funds.

  • The inclination of the designed wireless sensor was tested using a bridge crane with lifting capacity of 10 tons constructed into the large engineering structural model shown in Fig.4. The bridge crane can swing while its initial swing angle value is not equal to 0 degree.

  • Use of the Operating Reserve Funds can be authorized by the General Manager.

  • Permitted Uses of Operating Reserve Funds: The Operating Re- serve is intended to provide an internal line of credit for use in managing cash flow and ensuring ongoing operations in the face of unexpected events.

Related to Operating Reserve Funds

  • Debt Service Reserve Fund means the fund by that name established pursuant to the Second Resolution.

  • 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.

  • Reserve Fund means the account designated as such, and established and maintained pursuant to Section 4.01.

  • Reserve Funds means, collectively, the Tax and Insurance Reserve Fund, the Replacement Reserve Fund, the Required Repair Fund, the Rollover Reserve Fund, the Ground Lease Reserve Fund, the Excess Cash Flow Reserve Fund and any other escrow fund established by the Loan Documents.

  • Debt Service Reserve Account shall have the meaning given to it in the Depository Agreement.

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

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

  • Replacement Reserve Account shall have the meaning set forth in Section 7.3.1 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 [*];

  • Debt Service Reserve Fund Requirement means, with respect to the 2023 Series B Bonds and as of each determination date, an amount equal to maximum annual debt service on the 2023 Series B Bonds Outstanding from time to time and, with respect to any other Series of Bonds, the amount set forth in the Related Series Indenture.

  • Required Reserve Fund Amount With respect to any Distribution Date on which the Net Excess Spread is less than 0.25%, the amount, if any by which (a) the product of 1.00% and the Pool Balance for such date exceeds (b) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. With respect to any Distribution Date on which the Net Excess Spread is equal to or greater than 0.25%, the amount, if any, by which (i) $1,000 exceeds (ii) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. Provided, however, that on any Distribution Date on which the Class Principal Amount of each Class of LIBOR Certificates has been reduced to zero, the Required Reserve Fund Amount shall be zero.

  • Carryover Reserve Fund The separate Eligible Account created and initially maintained by the Trustee pursuant to Section 4.07 in the name of the Trustee for the benefit of the Certificateholders and designated "The Bank of New York in trust for registered Holders of CWABS, Inc., Asset-Backed Certificates, Series 2006-22". Funds in the Carryover Reserve Fund shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement.

  • 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).

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

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

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

  • Required Reserve Fund Deposit With respect to any Distribution Date on which the Net Excess Spread is less than 0.25%, the amount, if any by which (a) the product of 1.00% and the Aggregate Pool Balance for such date exceeds (b) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. With respect to any Distribution Date on which the Net Excess Spread is equal to or greater than 0.25%, the amount, if any, by which (i) $1,000 exceeds the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date; provided, however, that on any Distribution Date on which the Class Principal Amount of each Class of Offered Certificates, the Class B1 Certificates and the Class B2 Certificates has been reduced to zero, the Required Reserve Fund Deposit shall be zero.

  • 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.

  • Operating Accounts shall have the meaning ascribed to it in Section 4.03.A.

  • Reserve Account Property shall have the meaning specified in Section 4.7(a) of the Sale and Servicing Agreement.

  • Reserve Account means the account designated as such, established and maintained pursuant to Section 5.07.

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

  • Debt Service Fund means the fund so designated in, and created pursuant to, Section 502 hereof.

  • 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.