Applicable Reserve definition

Applicable Reserve means, at any date, an amount equal to (NRPB x RP) plus such reserves as mutually agreed upon, with adjustments effective upon at least three Business Days’ notice by the Agent, where: NRPB = the Net Receivables Pool Balance at the close of business of the Servicer on such date. RP = the Reserve Percentage at the close of business of the Servicer on such date.
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Applicable Reserve means, at any date, an amount equal to (NRPB x RP) plus such reserves as mutually agreed upon, with adjustments effective upon at least three Business Days’ notice by the Agent, where:
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Applicable Reserve as defined in Section 4.1.31.
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Examples of Applicable Reserve in a sentence

  • Any change in the interest rate on a Loan resulting from a change in the Base Rate or the Applicable Reserve Requirements shall become effective as of the opening of business on the day on which such change becomes effective.

  • The rate of interest on LIBOR Loans shall be adjusted automatically on and as of the effective date of any change in the Applicable Reserve Requirement.

  • The rate of interest on Eurodollar Rate Loans shall be adjusted automatically on and as of the effective date of any change in the Applicable Reserve Requirement.

  • Tenant shall on the last day of each Accounting Period during the Term, transfer into the Reserve an amount equal to the Applicable Reserve Percentage of Total Facility Revenues for such Accounting Period (based upon estimates of Total Facility Revenue if necessary, to be adjusted as soon as Tenant has had an opportunity to confirm actual Total Facility Revenue).

  • Lender shall release the requested funds from the Applicable Reserve if Lender determines in its sole discretion that: (i) the Work for which the release is sought are Repairs or Replacements; (ii) amounts payable in respect of such Work are reasonable; and (iii) all other conditions to a release under this Agreement have been met.

  • The Applicable Reserve Requirement of any Reserve Account may be funded from time to time by any Acceptable Reserve Letter of Credit (subject, in the case of the Major Maintenance Reserve Account, to the proviso of the definition of “Major Maintenance Reserve Required Balance”).

  • Notwithstanding the foregoing, if a disbursement from the Applicable Reserve is to be made and the twentieth (20th) day of the applicable month is not a Business Day, then such disbursement shall be made on the next succeeding Business Day.

  • In no event shall Lender be obligated to release any portion of an Applicable Reserve if an Event of Default or Incipient Default exists under any of the Loan Documents, or until such Borrower paid in full any fees, costs and expenses then due and payable under this Agreement.

  • The rate of interest on Eurocurrency Rate Loans shall be adjusted automatically on and as of the effective date of any change in the Applicable Reserve Requirement.

  • Without limiting the effect of the foregoing, the Applicable Reserve Requirement shall reflect any other reserve required by the Board to be maintained by such member banks with respect to (i) any category of liabilities which includes deposits by reference to which the applicable LIBOR or any other interest rate of a Loan is determined or (ii) any category of extensions of credit or other assets which include Loans.


More Definitions of Applicable Reserve

Applicable Reserve shall be an amount equal to (i) the product of the Net Receivables Pool Balance multiplied by a reserve percentage determined in accordance with the Program Documentation (as defined below) plus (ii) any reserves as may be established in accordance with the Program Documentation. The initial reserve percentage shall be 15%.
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Applicable Reserve means the sum of (i) any Operating Reserve and (ii) any Dilution Reserve.
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Applicable Reserve means, at any date, an amount equal to: (NRPB (US/Canadian) x (X + SFR + YR)) where: NRPB (US/Canadian) = the portion of the Net Receivables Pool Balance attributable to Canadian Dollar Receivables and US Dollar Receivables at the close of business of the Servicer on such date. X = the greater of (x) the sum of (i) the Dilution Reserve Percentage plus (ii) the Loss Reserve Percentage, at the time of such determination, and (y) the Floor Reserve Percentage at the time of such determination. SFR = the Servicing Fee Reserve Percentage at the time of such determination. YR = the Yield Reserve Percentage at the time of such determination.
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Applicable Reserve means, for any Receivable Interest at any date, an amount equal to the sum of where: NRPB (US/Canadian) = the portion of the Net Receivables Pool Balance attributable to Canadian Dollar Receivables and US Dollar Receivables at the close of business of the Servicer on such date. NRPB (UK) = the portion of the Net Receivables Pool Balance attributable to UK Receivables at the close of business of the Servicer on such date. RP = the applicable Reserve Percentage at the close of business of the Servicer on such date.
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Related to Applicable Reserve

  • Applicable Reserve Requirement means, at any time, for any Eurodollar Rate Loan, the maximum rate, expressed as a decimal, at which reserves (including any basic marginal, special, supplemental, emergency or other reserves) are required to be maintained with respect thereto against “Eurocurrency liabilities” (as such term is defined in Regulation D) under regulations issued from time to time by the Board of Governors or other applicable banking regulator. Without limiting the effect of the foregoing, the Applicable Reserve Requirement shall reflect any other reserves required to be maintained by such member banks with respect to (i) any category of liabilities which includes deposits by reference to which the applicable Adjusted Eurodollar Rate or any other interest rate of a Loan is to be determined, or (ii) any category of extensions of credit or other assets which include Eurodollar Rate Loans. A Eurodollar Rate Loan shall be deemed to constitute Eurocurrency liabilities and as such shall be deemed subject to reserve requirements without benefits of credit for proration, exceptions or offsets that may be available from time to time to the applicable Lender. The rate of interest on Eurodollar Rate Loans shall be adjusted automatically on and as of the effective date of any change in the Applicable Reserve Requirement.

  • Probable Reserves under SEC Industry Guide 7 means reserves for which quantity and grade and/or quality are computed from information similar to that used for proven reserves, but the sites for inspection, sampling and measurement are farther apart or are otherwise less adequately spaced. The degree of assurance, although lower than that for proven reserves, is high enough to assume continuity between points of observation.

  • Receivable Reserves means, as of any date of determination, those reserves that Agent deems necessary or appropriate, in its Permitted Discretion and subject to Section 2.1(c), to establish and maintain (including reserves for rebates, discounts, warranty claims, and returns) with respect to the Eligible Accounts or the Maximum Revolver Amount.

  • Available Reserve Account Amount means, with respect to any Distribution Date, the lesser of (a) the amount on deposit in the Reserve Account on such date (before giving effect to any deposit to be made to the Reserve Account on such date) and (b) the Required Reserve Account Amount.

  • Applicable Revolving Percentage means with respect to any Revolving Lender at any time, such Revolving Lender’s Applicable Percentage in respect of the Revolving Facility at such time.

  • Aggregate Reserves means, on any date of determination, the sum of the Loss Reserve, the Dilution Reserve and the Servicing and Yield Reserve.

  • Applicable Revolver LIBOR Margin means the per annum interest rate from time to time in effect and payable in addition to the LIBOR Rate applicable to the Revolving Loan, as determined by reference to Section 1.5(a).

  • Applicable Reference Rate means, collectively or individually, Term SOFR, Daily Compounded XXXXX, XXXXX or the EURIBOR Rate.

  • Applicable Revolving Credit Percentage means with respect to any Revolving Credit Lender at any time, such Revolving Credit Lender’s Applicable Percentage in respect of the Revolving Credit Facility at such time.

  • Applicable Account means, with respect to any payment to be made to the Administrative Agent hereunder, the account specified by the Administrative Agent from time to time for the purpose of receiving payments of such type.

  • Applicable L/C Margin means the per annum fee, from time to time in effect, payable with respect to outstanding Letter of Credit Obligations as determined by reference to Section 1.5(a).

  • Applicable Revolving Commitment Fee Percentage means (a) from the Closing Date until the date of delivery of the Compliance Certificate and the financial statements for the second full Fiscal Quarter after the Closing Date, a percentage, per annum, determined by reference to the following table as if the Leverage Ratio then in effect were 3.00:1.00; and (b) thereafter, a percentage, per annum, determined by reference to the Leverage Ratio in effect from time to time as set forth below: >3.00:1.00 0.75% 1.30% <3.00:1.00 >2.50:1.00 0.75% 1.20% No change in the Applicable Revolving Commitment Fee Percentage shall be effective until three (3) Business Days after the date on which the Administrative Agent has received the applicable financial statements and a Compliance Certificate pursuant to Section 5.01(c) calculating the Leverage Ratio. At any time the Borrower Representative has not submitted to the Administrative Agent the applicable information as and when required under Section 5.01(c), the Applicable Revolving Commitment Fee Percentage shall be determined as if the Leverage Ratio were in excess of 3.00:1.00. Promptly following receipt of the applicable information under Section 5.01(c), the Administrative Agent shall give each Lender telefacsimile or telephonic notice (confirmed in writing) of the Applicable Revolving Commitment Fee Percentage in effect from such date. In the event that any financial statement or certificate delivered pursuant to Section 5.01 is shown to be inaccurate, and such inaccuracy, if corrected, would have led to the application of a higher Applicable Revolving Commitment Fee Percentage for any Applicable Period than the Applicable Revolving Commitment Fee Percentage applied for such Applicable Period, then (i) the Borrower Representative shall immediately deliver to the Administrative Agent a correct certificate required by Section 5.01 for such Applicable Period, (ii) the Applicable Revolving Commitment Fee Percentage shall be recalculated with the Leverage Ratio at the corrected level and (iii) each applicable Borrower shall immediately pay to the Administrative Agent the accrued additional fees owing as a result of such increased Applicable Revolving Commitment Fee Percentage for such Applicable Period. Nothing in this definition shall limit the right of the Administrative Agent or any Lender under Section 2.10 or Article VIII and the provisions of this definition shall survive the termination of this Agreement.

  • Class C Reserve Account Percentage means, for any Distribution Date on which a condition in the left column of the following table was in effect on the immediately preceding Distribution Date, the percentage in the corresponding right column of the following table (or if more than one conditions were in effect on the immediately preceding Distribution Date, the largest percentage). Condition: The three-month rolling average Excess Spread Percentage is: Class C Reserve Account Percentage:

  • Applicable Collateral Percentage with respect to any Firm Collateral or Special Firm Collateral, has the meaning set forth in the books and records of the Partnership with respect thereto.

  • Applicable L/C Fee Percentage means, as at any date of determination, a rate per annum equal to the Applicable Eurodollar Margin for Revolving Loans in effect on such date.

  • LIBOR Rate Reserve Percentage means as of any day the maximum percentage in effect on such day, as prescribed by the Board of Governors of the Federal Reserve System (or any successor) for determining the reserve requirements (including supplemental, marginal and emergency reserve requirements) with respect to eurocurrency funding (currently referred to as “Eurocurrency Liabilities”).

  • Applicable Commitment Percentage means, with respect to each Lender at any time, a fraction, the numerator of which shall be such Lender's Revolving Credit Commitment and the denominator of which shall be the Total Revolving Credit Commitment, which Applicable Commitment Percentage for each Lender as of the Closing Date is as set forth in Exhibit A; provided that the Applicable Commitment Percentage of each Lender shall be increased or decreased to reflect any assignments to or by such Lender effected in accordance with Section 11.1.

  • Excess Collateral Amount means, at any time, the excess of (a) the sum of (i) the Collateral Amount, and (ii) the Principal Accumulation Account Balance, over (b) the Note Principal Balance.

  • Applicable Amount means, at any time (the “Applicable Amount Reference Time”), an amount equal to (a) the sum, without duplication, of:

  • Applicable Revolver Index Margin means the per annum interest rate margin from time to time in effect and payable in addition to the Index Rate applicable to the Revolving Loan, as determined by reference to Section 1.5(a).

  • Original Applicable Credit Support Percentage With respect to each of the following Classes of Subordinated Certificates, the corresponding percentage described below, as of the Closing Date: Class M...................4.25% Class B-1.................2.30% Class B-2.................1.50% Class B-3.................1.00% Class B-4.................0.55% Class B-5.................0.20%

  • Eurodollar Rate Reserve Percentage for any Interest Period for all Eurodollar Rate Advances comprising part of the same Borrowing means the reserve percentage applicable two Business Days before the first day of such Interest Period under regulations issued from time to time by the Board of Governors of the Federal Reserve System (or any successor) for determining the maximum reserve requirement (including, without limitation, any emergency, supplemental or other marginal reserve requirement) for a member bank of the Federal Reserve System in New York City with respect to liabilities or assets consisting of or including Eurocurrency Liabilities (or with respect to any other category of liabilities that includes deposits by reference to which the interest rate on Eurodollar Rate Advances is determined) having a term equal to such Interest Period.

  • Domestic Reserve Percentage means for any day that percentage (expressed as a decimal) which is in effect on such day, as prescribed by the Board of Governors of the Federal Reserve System (or any successor) for determining the maximum reserve requirement (including without limitation any basic, supplemental or emergency reserves) for a member bank of the Federal Reserve System in New York City with deposits exceeding five billion dollars in respect of new non-personal time deposits in dollars in New York City having a maturity comparable to the related Interest Period and in an amount of $100,000 or more. The Adjusted CD Rate shall be adjusted automatically on and as of the effective date of any change in the Domestic Reserve Percentage.

  • Applicable ECF Percentage means, for any fiscal year, (a) 50% if the Total Leverage Ratio as of the last day of such fiscal year is greater than or equal to 6.00 to 1.00, (b) 25% if the Total Leverage Ratio as of the last day of such fiscal year is less than 6.00 to 1.00 but greater than or equal to 5.00 to 1.00 and (c) 0% if the Total Leverage Ratio as of the last day of such fiscal year is less than 5.00 to 1.00.

  • Applicable Commitment Fee Percentage means, as at any date of determination, the rate per annum then applicable in the determination of the amount payable under Section 2.15(C)(i) hereof determined in accordance with the provisions of Section 2.15(D)(ii) hereof.

  • Euro-Rate Reserve Percentage means, the maximum effective percentage in effect on such day as prescribed by the Board of Governors of the Federal Reserve System (or any successor) for determining the reserve requirements (including without limitation, supplemental, marginal, and emergency reserve requirements) with respect to eurocurrency funding (currently referred to as “Eurocurrency Liabilities”).