Reserve Amount. Xxxxxxxx hereby authorizes Givex to instruct to establish and maintain (by itself or by financial institution partner(s)) a reserve amount as to be determined by Givex from time to time, to cover any amount that may become due from Merchant to Givex or Processor, including any expenses or losses, which may result from existing or expected Transaction Cancellations, Customer complaints, and Merchant’s activity through the GivexPay Services and Processing Services (“Reserve”). The Reserve shall be funded by debiting the Merchant Payment Account or any bank account associated with the Merchant Payment Account. Givex may further require Merchant to deposit funds into the Merchant Payment Account in order to fund the Reserve.
Reserve Amount. The State Water Board requires that the Recipient maintain and fund a separate account in an amount equal to one (1) year of debt service with respect to the Obligation (the “Reserve Amount”) as set forth in Exhibit B. The Recipient represents that the Reserve Amount is and will be available to pay debt service with respect to the Obligation, if and when needed. The Reserve Amount consists solely of revenues of the Recipient and does not include any proceeds of any obligations the interest on which is excluded from gross income for federal income tax purposes or investment earnings thereon. The aggregate of the Reserve Amount, up to an amount not exceeding the lesser of (i) ten percent of the aggregate principal amount of the Obligation, (ii) the maximum annual debt service with respect to the Obligation, or (iii) 125 percent of the average annual debt service with respect to the Obligation, will be treated as a reasonably required reserve fund.
Reserve Amount. Cliq may reserve a portion of the Collected Funds pursuant to its underwriting of CLIENT from time to time.
Reserve Amount. The Reserve Amount shall be held in the Reserve Account at all times from the Closing Date until the earliest of (i) the consummation of the Hope Heal Health Acquisition, (ii) such other time as consented to by the Administrative Agent and the Required Lenders in writing, provided that, in the case of request by the Borrower for use of the Reserve Amount for acquisitions described in Sections 8.4(d) through 8.4(f), such consent shall not be unreasonably withheld, delayed or conditioned, and (iii) irrevocable payment in full of all Obligations hereunder, to be confirmed by the Administrative Agent in writing (the earliest of such dates, the “Reserve Amount Release Date”). Upon the Reserve Amount Release Date, the Agents shall take all necessary actions, if any, to permit the Loan Parties to exercise control over the Reserve Account, including to withdraw the Reserve Amount therefrom, provided that, in the event of a Reserve Amount Release Date under clause (i) of the preceding sentence, the Administrative Agent and the Lender have been provided assurances reasonably acceptable to them that the Hope Heal Health Acquisition has occurred or will occur upon the disbursement of Reserve Amount to the Borrower.
Reserve Amount. If at any time the amount in the EVERTEC Reserve Account is less than the Reserve Amount (such difference, the “Reserve Deficiency”), BPPR shall give notice to EVERTEC of the amount of the Reserve Deficiency and EVERTEC shall, within three Business Days of such notice, deposit an amount into the EVERTEC Reserve Account equal to the Reserve Deficiency. If at any time the amount in the EVERTEC Reserve Account is greater than the Reserve Amount (such difference, the “Excess Reserve”), BPPR shall give notice to EVERTEC of the amount of the Excess Reserve and remit an amount equal to the Excess Reserve to the Operating Account. EVERTEC agrees that, in the event that EVERTEC fails to make a deposit into the EVERTEC Reserve Account as required by this Section 2.8(b), BPPR may withdraw the required amount from the Operating Account and deposit it into the EVERTEC Reserve Account.
Reserve Amount. The Partnership shall establish the Reserve Amount, consisting of the aggregate cash on hand in the Partnership and the Operating Companies at Partnership Inception, on a combined basis, increased by net cash proceeds to the Partnership from the exercise by the Underwriters of the over-allotment option described in Section 4.3(c) hereof, which shall be deemed to occur for purposes of determination of the Reserve Amount at Partnership Inception. The Reserve Amount shall be an asset of the Partnership, need not be maintained separate or apart from any other reserves, accounts or assets of the Partnership and shall be utilized, in the sole discretion of the General Partner, for any proper Partnership purpose, including but not limited to stabilizing distributions to Unitholders, debt reduction, capital expenditures, additional funding of the Reserve Amount or the establishment or increase of other appropriate reserves. The General Partner, in its sole discretion, may elect to retain in the Reserve Amount any balance therein and may voluntarily increase or decrease the Reserve Amount, from time to time, and need not justify such retention increase or decrease as being for any particular Partnership purpose. The balance in the Reserve Amount shall be disregarded in determining the need for or amounts of other reserves which the General Partner is authorized to establish and maintain pursuant to this Agreement.
Reserve Amount. With respect to any Real Estate Assets or group of Real Estate Assets, a normalized annual reserve for capital expenditures, replacement reserves and leasing costs at the rate of $0.25 per year per square foot of gross leasable area contained in all buildings on such Real Estate Assets. When the Reserve Amount is used in computing an amount with respect to a fiscal period which is shorter than a year, said amount shall be appropriately prorated.
Reserve Amount. You may be required to maintain a reserve amount in your account for purposes of offsetting any of your obligations under this Agreement. The required reserve amount will be determined by us in our sole discretion. If the reserve falls below the required amount, you agree to deposit sufficient funds immediately to replenish the reserve. Your obligation to maintain a reserve amount in your account shall survive the termination of this Agreement for a period of time to be determined by us in our reasonable discretion.
Reserve Amount. (a) In addition to any other limitations set forth in this Article 3, in the event that on any day the outstanding principal balance of all Flooring Loans, plus Flooring Swing Line Loans, plus requests for Flooring Loans and Flooring Swing Line Loans exceeds ninety-five percent (95%) of the Aggregate Flooring Loan Commitment as of such date, then until the next Business Day on which such condition no longer exists (i) a portion of the Aggregate Revolving Loan Commitment (the “Reserve Amount”) in an amount equal to the lesser of (A) Five Million Dollars ($5,000,000) or (B) an amount equal to the Maximum Revolving Loan Amount as of any date, minus the sum of the outstanding principal balance of the Revolving Loans, Revolving Swing Lines Loans and LC Obligations as of such date, shall be reserved and, except as set forth in Section 3.1.10 (b) shall no longer be available for funding Revolving Loans or Revolving Swing Line Loans or for issuance of Letters of Credit, and (ii) the Maximum Revolving Loan Amount shall be reduced by the amount of the Reserve Amount
(i) Notwithstanding any contrary provision in Section 3.1.10(a), the Reserve Amount may be used to fund Revolving Loans and Revolving Swing Line Loans which are used to repay Flooring Swing Line Loans or Flooring Loans, so long as after giving effect to such Loans, the outstanding principal balance of the Revolving Loans, Revolving Swing Line Loans and LC Obligations does not exceed the Maximum Revolving Loan Amount (calculated without giving effect to reduction by the Reserve Amount); and (ii) if, after giving effect to any payment described in Section 3.1.10
(b) (i), the circumstances giving rise to the requirement for a Reserve Amount are still in effect, then the requirements and limitations in Section 3.1.10
(a) shall continue in effect, including without limitation the requirement to maintain the Reserve Amount and the restrictions on borrowing set forth therein.
Reserve Amount. 5.1 LFSL or the Office Holder shall use the Reserve Amount to pay or provide for expenses which are payable in the Liquidation, and debts that are provable in the Liquidation, other than Scheme Claims.
5.2 In this Schedule 4 (Continuity of payments to Scheme Creditors), the "Residual Amount" means any remaining portion of the Reserve Amount, after LFSL or the Office Holder has paid or provided for all of LFSL's and the Office Holder's expenses and debts (including statutory interest) (other than Scheme Claims).
