Special Reserve. The amount of commissions and guarantee fees received by the Bank pursuant to Article 16 of this Agreement shall be set aside as a special reserve which shall be kept for meeting liabilities of the Bank in accordance with Article 18 of this Agreement. The special reserve shall be held in such liquid form as the Board of Directors may decide.
Special Reserve. 1. The amount of commissions and fees received by the Bank pursuant to Article 15 of this Agreement shall be set aside as a special reserve which shall be kept for meeting the losses of the Bank in accordance with Article 17 of this Agreement. The special reserve shall be held in such liquid form as the Bank may decide.
2. If the Board of Directors determines that the size of the special reserve is adequate, it may decide that all or part of the said commission or fees shall henceforth form part of the income of the Bank.
Special Reserve. The amount of commissions received by the Bank under Sections 4 and 5 of this Article shall be set aside as a special reserve, which shall be kept available for meeting liabilities of the Bank in accordance with Section 7 of this Article. The special reserve shall he held in such liquid form, permitted under this Agreement, as the Executive Directors may decide.
Special Reserve. Section 1.128 of the Loan Agreement is hereby deleted in its entirety and replaced with the following:
Special Reserve. A positive balance in the FEP Special Reserve shall be available to offset subsequent losses and to increase benefits.
Special Reserve. DCMH shall contribute all of the amounts received by it pursuant to Section 2.3(a) to Special Reserve, and Special Reserve will use such amounts to make one or more loans to one or more members of the Colony Capital Group (the “Loan Investments”). The Parties agree that DCMH will make special allocations to give the Buyer, on the one hand, and the Colony DCMH Members, on the other hand, an economic interest of 10% and 90%, respectively, in income and loss items from Special Reserve. For the avoidance of doubt, allocations of all other income and loss items of DCMH will be made in accordance with the applicable Specified Percentage.
Special Reserve. The definition of the term “Special Reserve” set forth in Section 1.107 of the Loan Agreement is hereby amended in its entirety to read as follows:
Special Reserve. SECTION 7. Methods of Meeting Liabilities of the Bank in Case of Defaults • SECTION 8. Miscellaneous Operations • SECTION 9. Warning to be Placed on Securities • SECTION 10. Political Activity Prohibited ARTICLE V: Organization and Management • SECTION 1. Structure of the Bank • SECTION 2. Board of Governors • SECTION 3. Voting • SECTION 4. Executive Directors • SECTION 5. President and Staff • SECTION 6. Advisory Council • SECTION 7. Loan Committees • SECTION 8. Relationship to Other International Organizations • SECTION 9. Location of Offices • SECTION 10. Regional Offices and Councils • SECTION 11. Depositories • SECTION 12. Form of Holdings of Currency • SECTION 13. Publication of Reports and Provision of Information • SECTION 14. Allocation of Net Income ARTICLE VI: Withdrawal and Suspension of Membership: Suspension of Operations • SECTION 1. Right of Members to Withdraw • SECTION 2. Suspension of Membership • SECTION 3. Cessation of Membership in International Monetary Fund • SECTION 4. Settlement of Accounts with Governments Ceasing to be Members • SECTION 5. Suspension of Operations and Settlement of Obligations ARTICLE VII: Status, Immunities and Privileges • SECTION 1. Purposes of the Article • SECTION 2. Status of the Bank • SECTION 3. Position of the Bank with Regard to judicial Process • SECTION 4. Immunity of Assets from Seizure • SECTION 5. Immunity of Archives • SECTION 6. Freedom of Assets from Restrictions • SECTION 7. Privilege for Communications • SECTION 8. Immunities and Privileges of Officers and Employees • SECTION 9. Immunities from Taxation • SECTION 10. Application of Article ARTICLE VIII: Amendments
Special Reserve. Contemporaneously herewith, Lessor has reserved the sum of Seven Hundred Fifty Thousand and 00/100 Dollars ($750,000.00) (the "Special Reserve") to be held by Lessor in an interest bearing account and which Lessor agrees will be used to defray the costs of certain renovations to the Leased Property as shall be disclosed by Lessee to Lessor. The account to which such payments are made shall require the signature of an officer of Lessee and Lessor to make withdrawals and the parties agree that such disbursements shall be made pursuant to Lessee draw requests reasonably acceptable to Lessor. The parties shall take all necessary actions to make such renovations as soon as practicable following the date hereof. So long as no default has occurred under any of the terms hereof, and no event has occurred which with the giving of notice or the passage of time or both would constitute such a default hereunder, any amounts remaining in the Special Reserve, shall be paid by Lessor to Lessee upon the earliest of (i) Lessor being satisfied in its sole discretion that the existing skilled nursing beds have been or will be converted to long-term acute care beds, (ii) the expiration of this Lease, or (iii) such other date as the Lessor shall determine in its sole discretion. The parties acknowledge that each disbursement of funds hereunder shall constitute a payment of additional purchase price for purposes of calculating the Purchase Price Adjustment and the corresponding adjustment to Base Rent.
Special Reserve. Until the delivery by Borrower to Administrative Agent of a Compliance Certificate certifying that the ratio of Borrower's EBITDA calculated as of the day of the most recently ended fiscal quarter for the four fiscal quarter period then ended, to Fixed Charges, calculated as of the last day of such fiscal quarter for the four fiscal quarter period then ended, is 1.75 to 1.00 or greater and certifying that there is at such time no Existing Default, a reserve equal to the lesser of (i) $5,000,000, or (ii) beginning on June 6, 2006, the Monthly Amount for such fiscal month, and increasing thereafter on the first day of each fiscal month thereafter by the Monthly Amount for such fiscal month, provided, however, if Borrower provides (within fifteen (15) days following the end of a fiscal month) a certified statement from the President or Chief Financial Officer of Pomeroy IT Solxxxxxx, Inc. certifying that the aggregate amount of all direct or indirect acquisition or redemption of any outstanding stock or other equity interest in Pomeroy IT Solxxxxxx, Inc. during a completed fiscal month was less than Monthly Amount for such fiscal month, then the Monthly Amount reserve for such fiscal month shall be retroactively reduced (effective the first day of the fiscal month in which such certificate is provided) to the amount of such actual acquisitions and redemptions of any outstanding stock or other equity interest in Pomeroy IT Sxxxxxxxs, Inc. (1); minus"
(1) By way of example only, if the actual amount of acquisitions and redemptions of any outstanding stock or other equity interest in Pomeroy IT Solxxxxxx, Inc. for fiscal June, 2006, was $1,240,000, but in fiscal July, 2006, the Monthly Amount was $1,240,000 but the actual amount of redemptions was $700,000 and Borrower provides a certified statement from the President or Chief Financial Officer of Pomeroy IT Sxxxxxxxs, Inc. in fiscal August, 2006 to such effect, then the reserve, effective August 6, 2006 would be $3,180,000.
4.2. ELIGIBLE ACCOUNTS--BILL-AND-HOLD. Xxause (x) of Section 3.1.5 of the Loan Agreement is deleted in its entirety and replaced with the following:
