Cash Reserves. Charter School acknowledges that the recommended cash reserve is 5% of expenditures, as provided in section 15450, title 5 of the California Code of Regulations.
Cash Reserves. The Company will establish and maintain reasonable cash reserves for [a] operating expenses (other than depreciation, amortization or similar non-cash allowances), [b] capital improvements, [c] debt service, [d] working capital and [e] bankroll. The amount of such reserves will be as the Company may from time to time determine, and such amount will be allowed as a deduction in determining Net Operating Cash.
Cash Reserves. The Manager may establish and maintain reasonable cash reserves for operating expenses (other than depreciation, amortization or similar non-cash allowances), reinvestments, capital improvements and debt service. The amount of such reserves will be as the Manager may determine.
Cash Reserves. “Cash Reserves” means such amounts as may be required pursuant to the terms of the Hotel Management Agreement.
Cash Reserves. (a) The Trustee is authorized to retain cash from the distributions the trust receives (i) in an amount not to exceed $1.0 million at any one time to be used by the Trust in the event that its cash on hand (including available cash reserves) is not sufficient to pay ordinary course administrative expenses as they become due; provided, that, until the Monthly Period ended May 31, 2019, the Trustee shall not retain any cash from monthly distributions pursuant to this clause and (ii) in such amounts as the Trustee in its discretion deems appropriate to pay for future liabilities of the Trust. Commencing with the Monthly Period ended May 31, 2019 and continuing until the reserve described in clause (i) equals or exceeds $1.0 million, the Trustee shall retain cash from distributions in such amount as the Trustee determines but not less than $25,000 per month or more than $100,000 per month and, at such time as such reserve equals or exceeds $1.0 million, the Trustee on behalf of the Trust shall promptly release the Letter of Credit.
(b) Cash being held by the Trustee as a reserve for, or in anticipation of, the payment of a Monthly Cash Distribution or for the payment of any liabilities, other than current routine administrative costs, shall be placed by the Trustee with one or more banks or financial institutions (which, to the extent to which authorized pursuant to the Trust Act and other applicable laws, may be, or may include, any bank serving as the Trustee or the Delaware Trustee) and be invested in: (i) accounts payable on demand without penalty (which may be non-interest bearing); (ii) interest bearing obligations issued by (or unconditionally guaranteed by) the United States of America or any agency or instrumentality thereof (provided such agency or instrumentality obligations are guaranteed by the full faith and credit of the United States of America); (iii) money market funds that invest only in United States government securities; (iv) repurchase agreements secured by obligations qualifying under (ii) above; (v) certificates of deposit of any bank or banks having combined capital, surplus and undivided profits in excess of $100,000,000 which, in the case of (ii), (iv) and (v) above, mature prior to the date on which such Monthly Cash Distribution is to be distributed or any such liability is to be paid; (vi) other interest bearing accounts in Federal Deposit Insurance Corporation-insured national banks, so long as the entire amount in such accounts...
Cash Reserves. The Trustee may retain in cash as much of the Trust Fund as the Trustee may deem advisable to satisfy the liquidity needs of the Plan and to deposit any cash held in the Trust Fund in a bank account without liability for the highest rate of interest available. If a bank is acting as Trustee, such Trustee is specifically given authority to invest in deposits of such Trustee. The Trustee may also hold cash uninvested at any time and from time to time and in such amount or to such extent as the Trustee deems prudent, and the Trustee will not be liable for any losses which may be incurred as the result of the failure to invest same, except to the extent provided herein or in ERISA.
Cash Reserves. To the extent any Agency imposes any minimum cash reserve requirement upon a Borrower, within [***] Business Days after Borrower receives notice of the same.
Cash Reserves. The Administrative Agent shall have received evidence that the Borrower shall have a minimum balance of excess unrestricted cash as of the last day of the month immediately preceding the Closing Date equal to $24,000,000 less the amount of Capital Expenditures funded by the Acquired Company between December 1, 2004 and the Closing Date that exceeds $19,000,000, calculated after giving effect to the Transactions.
Cash Reserves. There are three types of cash reserves that may be established for the Project to assure financial health. Outlined below are the descriptions, means of funding, and general balances of each type. The order of precedence of funding, unless varied by applicable financing documents related to Obligations, is as follows:
Cash Reserves. The Contractor shall maintain minimum cash reserves as applicable of $25,000 (for Single Family) or $100,000 (for Small Apartment Complex), or maintain a financial line of credit at those levels.
