Loss Reserve. Parent and its Subsidiaries shall maintain, on a consolidated basis, loss reserves at all times during the term of the Agreement in amounts required to be maintained under GAAP.
Loss Reserve. For any Calculation Period, the product (expressed as a percentage) of (i) 2.0, times (ii) the highest three-month rolling average Default Ratio during the 12 Calculation Periods ending on the immediately preceding Cut-Off Date, times (iii) the Default Horizon Ratio as of the immediately preceding Cut-Off Date.
Loss Reserve. (a) Borrowers shall maintain all loss reserves required by GAAP and in the amounts required by GAAP (including, in each case, any applicable current expected credit loss standards, as applicable to Borrowers) and in the amounts pursuant to the recommendation of the independent certified public accountant auditing Borrowers’ financial statements; provided that, notwithstanding anything in the Loan Documents to the contrary, the failure to maintain an aggregate loss reserve pursuant to this clause (a) shall not constitute a Default or an Event of Default, but shall only impact the calculation described in Section 8.10(d) in accordance with the terms thereof.
Loss Reserve. The Borrower shall maintain loss and dealer reserves at all times during the term of the Agreement in an amount, calculated as of the last day of each quarter, which shall not be less than an amount equal to the Loss Reserve Percentage (determined as of the last day of such quarter) multiplied by the aggregate amount of all Net Contract Payments due as of the last day of such quarter. To the extent that the amount of the then outstanding Loss Reserve Shortfall is deducted (i) from Borrower’s Adjusted Net Earnings from Operations for purposes of the calculation of the Interest Coverage Ratio as set forth in Section 9.18 and (ii) from Borrower’s Adjusted Tangible Net Worth for purposes of the calculation of the Borrowing Base Ratio as set forth in Section 9.21, such Loss Reserve Shortfall shall be deemed not to be a default under this Section 9.20, provided, however, that Agent at any time may give Borrower 60 days’ prior written notice that failure to maintain the Loss Reserve as required by the first sentence of this Section 9.20 may thereafter be deemed a default under this Section 9.20 (whether or not any deductions are made).
Loss Reserve. (a) Borrowers shall maintain a loss reserve in an amount which shall not be less than five percent (5%) of the remainder of (i) the aggregate amount of all presently due and future, unpaid, noncancellable installment payments to be made under all of Borrowers’ then-owned Contracts, minus (ii) all unearned finance charges (if any) included therein.
Loss Reserve. The "LOSS RESERVE" of any Undivided Interest on any day means the greater of (x) $3,000,000 and (y) an amount determined as follows: LR = RP x (PI + DF) WHERE: LR = the Loss Reserve of such Undivided Interest on such day; RP = the Reserve Percentage at the close of business of Purchaser on such day, as determined pursuant to PART II.B; PI = the related Purchaser's Investment of such Undivided Interest at the opening of business of Purchaser on such day, as determined pursuant to SECTION 1.3; and DF = the Discount Factor of such Undivided Interest at the close of business of Purchaser on such day, as determined pursuant to PART I.A. 118
Loss Reserve. The "Loss Reserve" for each Undivided Interest that is denominated in U.S. Dollars means, at any time (i) prior to the occurrence of a Termination Event, zero, and (ii) after the occurrence and during the continuance of a Termination Event, an amount determined as follows: LR = RP x PI where: LR = the Loss Reserve of such Undivided Interest at the time of computation; PI = the Purchasers' Investments of such Undivided Interest on such day, as determined pursuant to Section 2.03; and RP = the Recourse Percentage on such day. If the Aggregate Participation Amounts exceed the Participation Amount Limit on the day on which a Termination Event occurs after giving effect to the inclusion of the Loss Reserve as set forth above, Seller, on a recourse basis, agrees to deposit into the Agent's Account an amount equal to such excess; such amounts shall be held by the Agent for the benefit of the Purchasers, and shall be applied to reduce Purchasers' Investments of Undivided Interests denominated in U.S. Dollars on the next occurring Settlement Date(s).
Loss Reserve. The Borrower shall maintain loss and dealer reserves at all times during the term of the Agreement in an amount, calculated as of the last day of each quartermonth, which shall not be less than an amount equal to the Loss Reserve Percentage (determined as of the last day of such quarter) multiplied by(a) the aggregate amount of all Net Contract PaymentsNet Charge-Offs made during the three-month period then ended multiplied by four (4); divided by (b) the sum of the Net Balances due under all Contracts as of the last day of such quartereach month occurring in the three-month period then ended divided by three (3). To the extent that the amount of the then outstanding Loss Reserve Shortfall is deducted (i) from Borrower’s Adjusted Net Earnings from Operations for purposes of the calculation of the Interest Coverage Ratio as set forth in Section 9.18 and (ii) from Borrower’s Adjusted Tangible Net Worth for purposes of the calculation of the Borrowing Base Ratio as set forth in Section 9.21, such Loss Reserve Shortfall shall be deemed not to be a default under this Section 9.20, provided, however, that Agent at any time may give Borrower 60 days’ prior written notice that failure to maintain the Loss Reserve as required by the first sentence of this Section 9.20 may thereafter be deemed a default under this Section 9.20 (whether or not any deductions are made).
Loss Reserve. The Estimated Final Combined Financial Statement and Actual Final Combined Financial Statement shall include an actuarially determined provision for medical costs as of the Transition Date for all claims through the winding up and running out period of the Acquired Business, excluding any Unreserved Claims, including a customary provision for adverse deviation (“Loss Reserves”). The amount of such Loss Reserves shall not include any provisions or reserves for loss adjustment expenses. The amount of such Loss Reserves shall be calculated in accordance with GAAP, consistently applied in accordance with the accounting policies and practices used to prepare the unaudited combined financial statements of the Acquired Companies as of and for the year ended December 31, 2008 insofar as such accounting policies and practices are consistent with GAAP.
Loss Reserve. 55 9.21 Borrowing Base Ratio........................................................................... 55 9.22
