Required Reserve. So long as any Notes remain outstanding, the Company shall take all action necessary to at all times have authorized, and reserved for the purpose of issuance pursuant to the Notes, no less than 40 million shares of Common Stock.
Required Reserve. 10 ARTICLE III. SETTLEMENTS
Required Reserve. 16 (cb) Reserve Rate . . . . . . . . . . . . . . . . . . . . . . . 16 (cc) Responsible Officer. . . . . . . . . . . . . . . . . . . . 16 (cd) Secured Loans. . . . . . . . . . . . . . . . . . . . . . . 16 (ce) Secured Loan Rights. . . . . . . . . . . . . . . . . . . . 17 (cf) Security Interest. . . . . . . . . . . . . . . . . . . . . 17 (cg) Seller . . . . . . . . . . . . . . . . . . . . . . . . . . 17 (ch) Seller Receivable. . . . . . . . . . . . . . . . . . . . . 17 (ci) Seller Receivable Value. . . . . . . . . . . . . . . . . . 18 (cj) Seller Reimbursable Amount . . . . . . . . . . . . . . . . 18 (ck) Settlement Date. . . . . . . . . . . . . . . . . . . . . . 18 (cl) Settlement Period. . . . . . . . . . . . . . . . . . . . . 18 (cm) Significant Event. . . . . . . . . . . . . . . . . . . . . 18 (cn) Subsidiary . . . . . . . . . . . . . . . . . . . . . . . . 18 (co) Successor Collector. . . . . . . . . . . . . . . . . . . . 18 (cp) Terms Schedule . . . . . . . . . . . . . . . . . . . . . . 18 (cq) Transaction. . . . . . . . . . . . . . . . . . . . . . . . 18 (cr) Trust Indenture. . . . . . . . . . . . . . . . . . . . . . 18 1.2 Headings. . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 1.3 References to Sections and Exhibits.. . . . . . . . . . . . . . 19 1.4
Required Reserve. On any day during a Calculation Period, the product of (i) the greater of (A) the Required Reserve Factor Floor and (B) the sum of the Loss Reserve, the Yield Reserve, the Dilution Reserve and the Servicing Reserve, times (ii) the Net Pool Balance as of the Cut-Off Date immediately preceding such Calculation Period.
Required Reserve. Permit at any time the Required Reserve to be less than the lesser of (a) the amount, if any, by which the aggregate Net Proceeds realized from any Asset Disposition by SEI or any of its Subsidiaries permitted pursuant to Section 10.6(f) or (g), or otherwise consented to by the Required Lenders to the extent a prepayment is made under Section 2.7, after the Closing Date exceeds $75,000,000, and (b) the outstanding principal amount of the Applicable Retained Notes as of such date; provided however, that in no event during any of the respective periods set forth below (and regardless of whether any Asset Dispositions shall have been consummated by SEI or any of its Subsidiaries) shall the Required Reserve be less than the amount (expressed as a percentage of the then-outstanding principal amount of the Applicable Retained Notes) set forth opposite each such period: Closing Date through June 29, 2002 0% June 30, 2002 through October 31, 2002 25% November 1, 2002 through January 31, 2003 50% February 1, 2003 through April 30, 2003 75% May 1, 2003 and thereafter 100%
Required Reserve. The "Required Reserve" for any Undivided Interest on any day means an amount determined as follows: RR = RP x I where RR = the Required Reserve for such Undivided Interest at the time of computation; RP = the Reserve Percentage which, as to each Undivided Interest at the time of such computation, shall be the quotient (expressed as a percentage) obtained by dividing (x), the greater of (i) 12%, (ii) four times the Normal Concentration Percentage and (iii) 2.25 times the product of (a) the Loss Ratio, (b) the Loss Horizon Ratio and (c) the Payment Terms Multiplier, by (y) 1 minus the percentage determined pursuant to clause (x) above; and I = the Investment in such Undivided Interest at the time of such computation, as determined pursuant to Section 2.02.
Required Reserve. The Company covenants that all shares of Common Stock that shall be issuable will. upon issue, be duly authorized. validly issued. fully-paid, non-assessable and freely-tractable (if eligible). If the amount of shares on reserve in Holder’s nan1e at the Company’s transfer agent for this Note shall drop below the Required Reserve. the Company will. within 2 Trading Days of notification from Holder. instruct the transfer agent to increase the number of shares so that the Required Reserve is met. In the event that the Company does not instrnct the transfer agent to increase the number of shares so that the Required Reserve is met, the Holder will be allowed. if applicable, to provide this instruction as per the terms of the Irrevocable Transfer Agent Instructions attached to this Note. The Company agrees that the maintenance of the Required Reserve is a material term of this Note and any breach of this Section l .00(e) will result in a default of the Note.
Required Reserve upon Borrower's request from time to time, the Administrative Agent may agree to a higher percentage of the Eligible Receivables Net Balance for a particular Obligor and its Affiliates (each such higher percentage, a "Special Concentration Limit"), it being understood that any Special Concentration Limit may be cancelled by the Administrative Agent upon not less than ten (10) Business Days' prior written notice to the Loan Parties.
