Reserve Payments definition

Reserve Payments has the meaning specified in Section 5.1.3(b) of the Participation Agreement.
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Reserve Payments means those payments payable by the City and YCSD pursuant to Section 4.1(b) hereof. Reserved Rights shall have the meaning assigned to that term under the Indenture. School Party or School Parties shall mean, collectively or severally, as applicable, the City, the YCSD and the YJSCB. YCSD shall mean the City School District of the City of Yonkers, a school district of the State of New York, acting by and through the Board of Education of the City School District of the City of Yonkers, and any body, board, authority, agency or other governmental agency or instrumentality which shall hereafter succeed to the powers, duties, obligations and functions thereof. Series Facilities Agreement shall mean this Agreement and each other installment sale agreement or facilities lease agreement pursuant to which the Agency or any other public entity shall sell, lease or sublease Additional Facilities to the City and the YCSD and appoint the YJSCB as its agent for purposes of completion of such Additional Facilities, and the City and YCSD shall be obligated to make installment purchase payments or rental payments, as applicable, with respect to a Series of Project Bonds upon terms substantively comparable to that provided in Article IV of this Agreement. Series Indenture shall mean, collectively, the Indenture and each other indenture of trust or bond resolution pursuant to which a Series of Project Bonds shall be issued to finance all or a portion of the costs of a Project. Series License shall mean the License and each other lease or license agreement by the City and/or the YCSD to the Agency or other public entity of Additional Facilities to be financed in whole or in part with a Series of Project Bonds. Series 2021 Bonds shall mean the $[ ] School Facility Revenue Bonds (New Community School Project), Series 2021 of the Agency issued, executed, authenticated and delivered under the Indenture.
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Reserve Payments means with respect to the Development Facilities, an amount equal to that set forth in the development pro-forma approved by Developer, Manager, Tenant and Owner, and with respect to Completed Facilities, an amount equal to the greater of (iii) Seven Hundred Fifty Dollars ($750) per unit per annum or (iv) an agreed-upon amount contained in each Facility’s approved capital expenditure budget. Manager shall receive the Reserve Payments and hold the proceeds thereof for the benefit of Tenant commencing one (1) year after the Certificate of Occupancy Date for each Development Facility and one (1) month after the date hereof for Completed Facilities. The Reserve for all Facilities shall be held in the Central Account for certain expenditures, as described in greater detail in Section 5 hereof, the Pooling Agreement, and in the Management Agreements.
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Examples of Reserve Payments in a sentence

  • Notwithstanding anything to the contrary contained herein, in the event any Borrower Reserve Payments are deposited into the Collection Account, such Borrower Reserve Payments shall, upon written request of the Seller, be promptly transferred from the Collection Account to the Operating Account for the Seller to transfer into the appropriate escrow or reserve accounts.

  • The Reserve Payments will be equal to two percent (2%) of the Purchase Price of any outstanding Notes (plus accrued but unpaid interest) for each month (or part thereof) following the date that an insufficient number of shares of Common Stock (as determined above) was reserved for such purpose (the "Failure Date") continuing through the date a sufficient number of additional shares of Common Stock (as determined above) is reserved for such purpose (the "Reserve Date").

  • The duplicate confirmations and account statements that you are required to submit to the CCO on a monthly basis may be used to satisfy your quarterly reporting obligation only if the confirmations and account statements contain all of the information required to be included on this report and they are submitted to the CCO by the deadline for submission of this report.

  • The Maintenance Reserve Payments shall be Supplemental Rent under this Lease and Lessee shall not have any right, title or interest therein or thereto other than the rights set forth in Section 4(d) hereof.

  • Lessee agrees to pay the Maintenance Reserve Payments specified in Exhibit C hereto during the Term on each Maintenance Reserve Payment Date.

  • If any sums of money or property are paid or distributed in respect of the Purchased Items and received by the Seller (other than the Borrower Reserve Payments), the Seller shall promptly pay or deliver such money or property to the Purchaser and, until such money or property is so paid or delivered to the Purchaser, hold such money or property in trust for the Purchaser, segregated from other funds of the Seller.

  • If any sums of money or property are paid or distributed in respect of the Purchased Assets and received by the Seller (other than the Borrower Reserve Payments), the Seller shall promptly pay or deliver such money or property to the Purchaser and, until such money or property is so paid or delivered to the Purchaser, hold such money or property in trust for the Purchaser, segregated from other funds of the Seller.

  • Borrower shall at all times maintain a reserve account with the Depository (the "Marketing Reserve Deposit Account") in which Borrower shall deposit or cause to be deposited pursuant to Section 12.3, all payments or other contributions by tenants and others made for the purpose of promotion or marketing for the Expanded Properties, or for any similar purpose, howsoever described in the Leases or otherwise (the "Marketing Reserve Payments").

  • Funds in the FF&E Reserve and all property purchased with funds from the FF&E Reserve during the Term shall be the property of Landlord and all FF&E Reserve Payments shall constitute Additional Charges.

  • Section 5.1.2 of the Lease is hereby amended by deleting the last paragraph thereof and replacing it with the following paragraphs: On and before September 30, 2002, funds in the FF&E Reserve and all property purchased with those funds shall be the property of Landlord and all FF&E Reserve Payments shall constitute Additional Charges.


More Definitions of Reserve Payments

Reserve Payments as defined in and pursuant to the Maxus Schedules totaling $336,952.33 USD in the aggregate as of the Execution Date, but specifically excluding (b) the Seller Retained Claims (collectively, the “Current Assets”), less (b) the current liabilities of each Company (the “Current Liabilities”), both determined as of the close of business of the Companies on the Closing Date and in each case as determined in accordance with United States generally accepted accounting principles (“GAAP”) in its preparation of the financial information provided to Sellers pursuant to Article III and excluding cash and all balances either due to or from the Sellers. A sample of such Net Working Capital calculation is set forth on Exhibit B.
Sample 1
Reserve Payments means as to any Commercial Mortgage, any payments made by the related mortgagor to mortgagee or Servicer pursuant to an agreement between mortgagee and the related mortgagor for the purpose of providing reserves for the costs associated with repairs to and replacement of capital items, environmental costs and lease rollover on the related mortgaged property.
Sample 1

Related to Reserve Payments

  • 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.

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

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

  • 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.

  • C/D Reserve Percentage for any day as applied to any ABR Loan, that percentage (expressed as a decimal) which is in effect on such day, as prescribed by the Board, for determining the maximum reserve requirement for a Depositary Institution (as defined in Regulation D of the Board) in respect of new non-personal time deposits in Dollars having a maturity of 30 days or more.

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

  • 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.

  • Loss Reserve Percentage means, on any date, the product of (A) 2.25 times (B) the highest average of the Default Ratios for any three consecutive calendar months during the twelve most recent calendar months times (C) the Loss Horizon Ratio.

  • Yield Reserve Percentage means at any time of determination:

  • 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.

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

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

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

  • Debt Service Reserve Requirement means, as of any date of calculation, and for any Fiscal Year, the amount equal to the maximum Adjusted Aggregate Debt Service on Bonds in the current or any future Fiscal Year on all Bonds Outstanding; provided, however, that if, upon the issuance of a Series of Bonds, such amount would require moneys, in an amount in excess of the maximum amount permitted under the Code to be deposited therein from the proceeds of such Bonds, to be deposited therein, the Debt Service Reserve Requirement shall mean an amount equal to the sum of the Debt Service Reserve Requirement immediately preceding issuance of such Bonds and the maximum amount permitted under the Code to be deposited therein from the proceeds of such Bonds, as certified by an Authorized Representative of the Authority; provided, further, that, if (i) the payment of the Principal Installments of or interest on any Series of Bonds or portion thereof is secured by a Special Credit Facility, (ii) the payment of the Tender Option Price of any Option Bond of a Series is secured by a Special Credit Facility or (iii) the Authority has determined in a Supplemental Resolution authorizing the issuance of a Series of Bonds that such Series of Bonds will not be secured by the Common Account in the Debt Service Reserve Fund, the Supplemental Resolution authorizing such Series may specify the Debt Service Reserve Requirement, if any, for the Bonds of such Series: provided, further, that if, as a result of the expiration or termination of a Financial Guaranty, a deficiency shall be created in the Debt Service Reserve Fund, the Debt Service Reserve Requirement shall be calculated so as to exclude the amount of such deficiency and the Debt Service Reserve Requirement shall be increased in each of the five Fiscal Years after the date such deficiency was created by an amount equal twenty per centum (20%) of the aforesaid deficiency.For the purpose of calculating the Debt Service Reserve Requirement for any Variable Rate Bonds of a Series, the maximum Adjusted Debt Service on such Series shall be determined by reference to the Pro Forma Bond Issue for the Variable Rate Bonds of such Series set forth in the Supplemental Resolution authorizing such Series.

  • Prime Interest Rate means the publicly quoted variable annual basic rate of interest, published from time to time by the bankers of FUNDI as being their prime rate and as certified by the auditors of FUNDI, whose appointment it shall not be necessary to prove. Details of such bankers will be provided to the Applicant when so requested in writing.

  • 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.

  • Reserve Account Amount means, for any Distribution Date, the amount on deposit in and available for withdrawal from the Reserve Account on such Distribution Date (after giving effect to all deposits to and withdrawals from the Reserve Account on the preceding Distribution Date, or, in the case of the initial Distribution Date, the Closing Date), including all interest and other income (net of losses and investment expenses) earned on such amount during the preceding Collection Period.

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

  • 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 Percentage means, on any day, for any Lender, the maximum percentage prescribed by the Board of Governors of the Federal Reserve System (or any successor Governmental Authority) for determining the reserve requirements (including any basic, supplemental, marginal, or emergency reserves) that are in effect on such date with respect to eurocurrency funding (currently referred to as “eurocurrency liabilities”) of that Lender, but so long as such Lender is not required or directed under applicable regulations to maintain such reserves, the Reserve Percentage shall be zero.

  • Reserve Fund Required Amount means, (i) for any Payment Date on which the Note Balance is greater than $0, $2,128,635.19 (i.e., 0.25% of the Cutoff Date Adjusted Pool Balance) or (ii) if the Notes have been paid in full, $0; provided, however, that the Reserve Fund Required Amount may not exceed the Note Balance.

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

  • Net WAC Rate With respect to any Distribution Date (and the related Accrual Period), a per annum rate equal to the weighted average of the Net Mortgage Rates of the Mortgage Loans as of the first day of the related Collection Period (not including for this purpose Mortgage Loans for which prepayments in full have been received and distributed in the month prior to that Distribution Date).

  • Required Reserve Factor Floor means, for any Calculation Period, the sum (expressed as a percentage) of (a) 12.5% plus (b) the product of the Adjusted Dilution Ratio and the Dilution Horizon Ratio, in each case, as of the most recent Cut-Off Date.