Required Reserve Sample Clauses

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.
Sample 1
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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: 105 Period Percentage of Applicable Retained Notes 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%
Sample 1
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.
Sample 1
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
Sample 1
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.
Sample 1
Required Reserve. 10 ARTICLE III. SETTLEMENTS
Sample 1
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.
Sample 1
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Related to Required Reserve

  • Required Reserve Amount So long as this Warrant remains outstanding, the Company shall at all times keep reserved for issuance under this Warrant a number of shares of Common Stock at least equal to 100% of the maximum number of shares of Common Stock as shall be necessary to satisfy the Company’s obligation to issue shares of Common Stock under the Warrants then outstanding (without regard to any limitations on exercise) (the “Required Reserve Amount”); provided that at no time shall the number of shares of Common Stock reserved pursuant to this Section 1(g) be reduced other than in connection with any exercise of Warrants or such other event covered by Section 2(c) below. The Required Reserve Amount (including, without limitation, each increase in the number of shares so reserved) shall be allocated pro rata among the holders of the Warrants based on the number of shares of Common Stock issuable upon exercise of Warrants held by each holder thereof on the Issuance Date (without regard to any limitations on exercise) (the “Authorized Share Allocation”). In the event that a holder shall sell or otherwise transfer any of such holder’s Warrants, each transferee shall be allocated a pro rata portion of such holder’s Authorized Share Allocation. Any shares of Common Stock reserved and allocated to any Person which ceases to hold any Warrants shall be allocated to the remaining holders of Warrants, pro rata based on the number of shares of Common Stock issuable upon exercise of the Warrants then held by such holders thereof (without regard to any limitations on exercise).

  • Initial Reserve Account Deposit On the Closing Date, the Depositor will deposit or cause to be deposited the Specified Reserve Balance into the Reserve Account from the net proceeds of the sale of the Notes.

  • Disbursements from Replacement Reserve Account (a) Lender shall make disbursements from the Replacement Reserve Account to pay Borrower only for the costs of the Replacements. Lender shall not be obligated to make disbursements from the Replacement Reserve Account to reimburse Borrower for the costs of routine maintenance to the Property or for costs which are to be reimbursed from the Required Repair Fund (if any).

  • Required Records The Company will maintain at its principal place of business such books, records and other materials as are reasonably necessary to document and account for its activities, including, without limitation, those required to be maintained by the Act.

  • Reserve Account Draw Amount On or before two Business Days before a Payment Date, the Servicer will calculate the Reserve Account Draw Amount for the Payment Date and will direct the Indenture Trustee to withdraw from the Reserve Account and deposit the Reserve Account Draw Amount into the Collection Account on or before the Payment Date.

  • Availability Reserves All Revolving Loans otherwise available to Borrower pursuant to the lending formulas and subject to the Maximum Credit and other applicable limits hereunder shall be subject to Lender's continuing right to establish and revise Availability Reserves.

  • Targeted Deposits to the Accumulation Reserve Account The deposit targeted to be made to the Accumulation Reserve Account for any Monthly Period during the Accumulation Reserve Funding Period will be an amount equal to the Required Accumulation Reserve sub-Account Amount.

  • Required Repair Funds 70 7.1.1 Deposits .................................................... 70 7.1.2 Release of Required Repair Funds ............................ 70 Section 7.2 Tax and Insurance Escrow Fund ............................ 71 Section 7.3 Replacements and Replacement Reserve .................... 72 7.3.1

  • Debt Service Reserve Account The Debt Service Reserve Account shall have been funded (or credited with funds), to the extent required, in an amount equal to the Debt Service Reserve Required Amount in accordance with the Depositary Agreement.

  • Release of Required Repair Funds Lender shall disburse to Borrower the Required Repair Funds from the Required Repair Account from time to time upon satisfaction by Borrower of each of the following conditions: (i) Borrower shall submit a written request for payment to Lender at least fifteen (15) days prior to the date on which Borrower requests such payment be made and specifies the Required Repairs to be paid, (ii) on the date such request is received by Lender and on the date such payment is to be made, no Default or Event of Default shall exist and remain uncured, (iii) Lender shall have received a certificate from Borrower (A) stating that all Required Repairs at the Property to be funded by the requested disbursement have been completed in good and workmanlike manner and in accordance with all applicable federal, state and local laws, rules and regulations, such certificate to be accompanied by a copy of any license, permit or other approval by any Governmental Authority required to commence and/or complete the Required Repairs, (B) identifying each Person that supplied materials or labor in connection with the Required Repairs performed at the Property to be funded by the requested disbursement under a contract in excess of $50,000, and (C) stating that each Person who has supplied materials or labor in connection with the Required Repairs to be funded by the requested disbursement has been paid in full or will be paid in full upon such disbursement, such certificate to be accompanied by lien waivers or other evidence of payment satisfactory to Lender, (iv) at Lender’s option, a title search for the Property indicating that the Property is free from all liens, claims and other encumbrances not previously approved by Lender, and (v) Lender shall have received such other evidence as Lender shall reasonably request that the Required Repairs at the Property to be funded by the requested disbursement have been completed and are paid for or will be paid upon such disbursement to Borrower. Lender shall not be required to make disbursements from the Required Repair Account with respect to the Property more than once each calendar month and such disbursement shall be made only upon satisfaction of each condition contained in this Section 7.1.2.

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