Special Reserve Sample Clauses

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. 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. A positive balance in the FEP Special Reserve shall be available to offset subsequent losses and to increase benefits.

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. 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. 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 Sol▇▇▇▇▇▇, 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 Sol▇▇▇▇▇▇, 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 S▇▇▇▇▇▇▇s, 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 Sol▇▇▇▇▇▇, 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 S▇▇▇▇▇▇▇s, 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. ▇▇ause (x) of Section 3.1.5 of the Loan Agreement is deleted in its entirety and replaced with the following:

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 used only for meeting liabilities of the Bank in accordance with section 7 of this article. The special reserve shall be held in such liquid form, permitted under this Agreement, as the Executive Directors may decide. the Bank: (a) The Bank shall make such arrangements as may be feasible to adjust the obligations under the loans, including arrangements under or analogous to those provided in section 4 (c) of this article: (b) The payments in discharge of the Bank's liabilities on borrowings or guarantees under sections 1 (a) (ii) and (iii) of this article (i) First, against the special reserve provided in section 6 (ii) Then, to the extent necessary and at the discretion of the Bank, against the other reserves, surplus and capital avail- (c) Whenever necessary to meet contractual payments of interest, other charges or amortisation on the Bank's own borrowings, or to meet the Bank's liabilities with respect to similar pay- ments on loans guaranteed by it, the Bank may call an appro- priate amount of the unpaid subscriptions of members in accordance with Article II, sections 5 and 7. Moreover, if it believes that a default may be of long duration, the Bank may call an additional amount of such unpaid subscriptions not to exceed in any one year 1 per cent of the total subscriptions of the members for the following purposes: (i) To redeem prior to maturity or otherwise discharge its liability on all or part of the outstanding principal of any loan guaranteed by it in respect of which the debtor is in default. (ii) To repurchase or otherwise discharge its liability on all or part of its own outstanding borrowings.