Reserve Rate. The rate, expressed as a decimal, at which the Banks would be required to maintain reserves under Regulation D of the Board of Governors of the Federal Reserve System (or any subsequent or similar regulation relating to such reserve requirements) against "Eurocurrency Liabilities" (as such term is defined in Regulation D), or against any other category of liabilities which might be incurred by the Banks to fund Eurodollar Loans, if such liabilities were outstanding. Revolving Credit Loans. Revolving credit loans made or to be made by the Banks to the Borrowers pursuant to Section 2.
Reserve Rate. 3.1 Lessee shall be relieved of its obligation to pay the Reserve Rate at any time that the Aircraft Maintenance Agreement is in effect with respect to the Aircraft. At any time that the Aircraft Maintenance Agreement is not in effect, then Lessee shall, in addition to installments of Rent, pay to Lessor the Reserve Rate as follows:
(a) by way of an Airframe maintenance accrual, the sum of {***} for the months one up to and including twelve of the Term and {***} for the months thirteen up to and including the Expiry Date for each Flight Hour the Aircraft is operated during the Term ("Airframe Maintenance Accrual"), and
(b) by way of an Engine maintenance accrual, in respect of each Engine the sum of {***} for the months one up to and including twelve of the Term, and {***} for the months thirteen up to and including the Expiry Date for each Flight Hour operated by each Engine during the Term ("Engine Maintenance Accrual"), and
(c) by way of a landing gear maintenance accrual, the sum of {***} for the months one up to and including twelve of the Term, and {***} for the months thirteen up to and including the Expiry Date for each Cycle operated by the landing gear during the Term ("Landing Gear Maintenance Accrual"), and
(d) by way of an A.P.U. maintenance accrual, the sum of {***} for the months one up to and including twelve of the Term, and {***} for the months thirteen up to and including the Expiry Date for each Flight Hour operated by the A.P.U. during the Term ("A.P.U. Maintenance Accrual"). The Airframe, Engine, Landing Gear and A.P.U. Maintenance Accruals accruing in any Rental Period shall be paid by Lessee to Lessor not later than ten (10) days after the end of the calendar month in which such Rental Period shall end. Concurrently with the payment thereof, Lessee shall report to Lessor (in accordance with Article 7.1 (e)) the number of Flight Hours and Cycles accumulated in respect of the period for which payment is being made. The Reserve Rate will be subject to adjustment every twelve (12) months during the Term by reference for 65% to the Employment and Earnings Index for U.S.A. labor cost average hourly earnings of production (Aircraft Equipment) SIC 3728, table C-2 and for 35% to the Producer Price Index for U.S.A. material cost commodity groupings (Machinery and Equipment) Code 11/table 6. In addition the Engine Maintenance Accrual will be subject to adjustment every twelve (12) months during the Term having regard to the Engine Manufacturer...
Reserve Rate. 3.1 In addition to installments of Rent, Lessee shall pay to Lessor the Reserve Rate as follows:
(a) by way of an Airframe maintenance accrual, the sum of {***} hours check until the 12,000 hours check shall have been executed. After execution of such check, 100% (one hundred percent) of the Airframe Maintenance Accrual shall be accrued for the 24,000 hours check for each Flight Hour the Aircraft is operated during the Term ("Airframe Maintenance Accrual"); and
(b) by way of an Engine maintenance accrual, in respect of each Engine the sum of {***} for each Flight Hour operated by each Engine during the Term ("Engine Maintenance Accrual"). The percentage of the various maintenance activities shall be agreed between the parties after signing of this Agreement; and
(c) by way of a landing gear maintenance accrual, the sum of {***} for each Cycle operated by the landing gear during the Term ("Landing Gear Maintenance Accrual"). The Airframe, Engine and Landing Gear Maintenance Accruals accruing in any Rental Period shall be paid by Lessee to Lessor not later than ten (10) days after the end of the calendar month in which such Rental Period shall end; provided that Lessee shall be relieved of its obligation to pay the Engine Maintenance Accrual or Landing Gear Maintenance Accrual with respect to any Engine or Landing Gear, as the case may be, during any period that an Aircraft Maintenance Agreement is in effect with respect to such Engine or Landing Gear. Concurrently with the payment thereof, Lessee shall report to Lessor (in accordance with Article 7.1 (e)) the number of Flight Hours and Cycles accumulated in respect of the period for which payment is being made. The Reserve Rate will be subject to adjustment every six (6) months during the Term by reference for 65% to the Employment and Earnings Index for U.S.A. labor cost average hourly earnings of production (Aircraft Equipment) SIC 3728, table C-2 and for 35% to the Producer Price Index for U.S.A. material cost commodity groupings (Machinery and Equipment) Code 11/table 6. In addition the Engine Maintenance Accrual, if any, will be subject to adjustment every six (6) months during the Term having regard to the Engine Manufacturer recommendations, industry experience and any change in the operational environment of the Aircraft. Any Reserve Rate shall, if requested by either Lessor or (unless an Event of Default shall have occurred and be continuing) Lessee, be adjusted to take into account any changes in ...
Reserve Rate. For any day with respect to a LIBOR Rate Loan, the maximum rate (expressed as a decimal) at which any lender subject thereto would be required to maintain reserves under Regulation D of the Board of Governors of the Federal Reserve System (or any successor or similar regulations relating to such reserve requirements) against "Eurocurrency Liabilities" (as that term is used in Regulation D or such other regulations) if such liabilities were outstanding. The Reserve Rate shall be adjusted automatically on and as of the effective date of any change in the Reserve Rate.
Reserve Rate. The rate in effect from time to time, expressed as a percentage, at which the Bank would be required to maintain reserves under Regulation D of the Board of Governors of the Federal Reserve System (or any successor or similar regulation relating to such reserve requirements) against "Eurocurrency Liabilities" (as such term is used in Regulation D) if such liabilities were outstanding. R&M. R&M Corporation (f/k/a Environmental Solutions, Inc.), a California corporation. R&M Note. Promissory note of the Parent dated as of July 1, 1997 in favor of R&M having an outstanding principal amount, as of the date hereof, of not more than $7,000,000. Security Agreement. The Amended and Restated Security Agreement, dated as of the date hereof among the Borrowers and the Bank and in form and substance satisfactory to the Bank.
Reserve Rate. The rate, expressed as a decimal, at which the Lenders would be required to maintain reserves under Regulation D of the Board of Governors of the Federal Reserve System (or any subsequent or similar regulation relating to such reserve requirements) against "Eurocurrency Liabilities" (as such term is defined in Regulation D), or against any other category of liabilities which might be incurred by the Lenders to fund Eurodollar Loans, if such liabilities were outstanding. The Reserve Rate shall be adjusted automatically on and as of the effective date of any change in the Reserve Rate. Revolving Credit Lenders. Each of the Lenders holding a Commitment as set forth on Schedule 1 hereto and any other Person who becomes an assignee of any rights and obligations of a Revolving Credit Lender pursuant to ss.18. Revolving Credit Loans. Revolving credit loans converted, made or to be made by the Revolving Credit Lenders to the Borrowers pursuant to ss.2. Revolving Credit Maturity Date. June 29, 2001, or such earlier date on which the Obligations become due and owing.
Reserve Rate. The rate, expressed as a decimal, at which the Lenders would be required to maintain reserves under Regulation D of the Board of Governors of the Federal Reserve System (or any subsequent or similar regulation relating to such reserve requirements) against "Eurocurrency Liabilities" (as such term is defined in Regulation D), or against any other category of liabilities which might be incurred by the Lenders to fund Eurodollar Loans, if such liabilities were outstanding. The Reserve Rate shall be adjusted automatically on and as of the effective date of any change in the Reserve Rate. RESTRICTED SUBSIDIARIES. Collectively, all Subsidiaries of the Parent which are not Unrestricted Subsidiaries. REVOLVING CREDIT LENDERS. Each of the Lenders holding a Commitment as set forth on SCHEDULE 1 hereto and any other Person who becomes an assignee of any rights and obligations of a Revolving Credit Lender pursuant to ss.18. REVOLVING CREDIT LOANS. Revolving Credit Loans advanced to the Borrowers pursuant to ss.2.1. REVOLVING CREDIT MATURITY DATE. July 20, 2004, or such earlier date on which the Obligations become due and owing.
Reserve Rate. The rate, expressed as a decimal, at which the Banks would be required to maintain reserves under Regulation D of the Board of Governors of the Federal Reserve System (or any subsequent or similar regulation relating to such reserve requirements) against "Eurocurrency Liabilities" (as such term is defined in Regulation D), or against any other category of liabilities which might be incurred by the Banks to fund Loans bearing interest based on the Eurodollar Rate, if such liabilities were outstanding. Stock Pledge Agreement. The Stock Pledge Agreement, amended and restated as of the Closing Date, among the Borrowers and the Agent in form and substance satisfactory to the Agent.
Reserve Rate. The rate in effect from time to time, expressed as a percentage, at which the Banks would be required to maintain reserves under Regulation D of the Board of Governors of the Federal Reserve System (or any successor or similar regulation relating to such reserve requirements) against "Eurocurrency Liabilities" (as such term is used in Regulation D) if such liabilities were outstanding. R&M. (R&M Corporation (f/k/a Environmental Solutions, Inc.), a California corporation. R&M NOTE. Promissory note of the Parent dated as of July 1, 1997 in favor of R&M having an outstanding principal amount, as of the date hereof, of not more than $7,000,000.
Reserve Rate. The rate, expressed as a decimal, at which the Lenders would be required to maintain reserves under Regulation D of the Board of Governors of the Federal Reserve System (or any subsequent or similar regulation relating to such reserve requirements) against "Eurocurrency Liabilities" (as such term is defined in Regulation D), or against any other category of liabilities which might be incurred by the Lenders to fund Eurodollar Loans, if such liabilities were outstanding. The Reserve Rate shall be adjusted automatically on and as of the effective date of any change in the Reserve Rate.
