Closing Reserves definition

Closing Reserves means an amount equal to $45,000,000, which shall be allocated as of the Distribution Date to New SAIC in the amount of $18,000,000 and to Leidos in the amount of $27,000,000. Upon settlement of Indirect Rates for Open Years, responsibility for the costs of any resulting credit or payment due to customers shall be apportioned between the Parties based upon the accounting records supporting the foregoing allocation of the Closing Reserves and, as New SAIC and Leidos make such credits or payments, the Closing Reserves of each of New SAIC and Leidos shall be reduced accordingly on a dollar for dollar basis. If either Party makes any credit or payment to a customer that includes amounts allocable to the other Party pursuant to this paragraph, such Party shall be entitled to reimbursement by the other Party promptly upon delivery to such other Party of evidence of such credit or payment.
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Closing Reserves has the meaning set forth in Section 4.26(f).
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Closing Reserves means an amount equal to , which shall be allocated as of the Distribution Date to New SAIC in the amount of and to Leidos in the amount of . Upon settlement of Indirect Rates for Open Years, responsibility for the costs of any resulting credit or payment due to customers shall be apportioned between the Parties based the accounting records supporting the foregoing allocation of the Closing Reserves and, as New SAIC and Leidos make such credits or payments, the Closing Reserves of each of New SAIC and Leidos shall be reduced accordingly on a dollar for dollar basis. If either Party makes any credit or payment to a customer that includes amounts allocable to the other Party pursuant to this paragraph, such Party shall be entitled to reimbursement by the other Party promptly upon delivery to such other Party of evidence of such credit or payment.
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Examples of Closing Reserves in a sentence

  • The 2014/15 budget anticipated a £2m use of Reserves with Closing Reserves falling to £33m at year-end.

  • Neighbourhood First Team - Forecast overspends of £400k relating to shared employee costs in the Neighbourhood First Team, against office cleaning and public conveniences have been resolved through an exercise undertaken on behalf of CMT.

  • When we talk about opportunities we are talking about ensuring opportunity is not limited simply on the basis of gender.

  • Closing Reserves and Reserve FundsIf the purpose or purposes for which the reserve or reserve fund was created have been accomplished and the reserve or reserve fund is determined to be no longer necessary, the Treasurer, in consultation with the Department Head and Chief Administrative Officer, shall report to Council with the recommendation on:a.

  • Closing Reserves 12,961,664 4,000,000 16,961,664 In accordance with the Council's financial strategy the designated reserves have been established as a contingency reserve to cover any significant costs arriving from legal challenge to any part of the Teaching Council Acts, 2001 to 2015 and from any of the Council's rulings.

  • Members noted the favourable position on Opening Reserves and Provisional Closing Reserves as set out in Appendix 4 of the report.

  • To facilitate a club environment that is supportive of coaches, swimmers, and families.

  • ReservesGeneral reserveDesignatedreserve Opening Reserves€ 267,296€ - Total € 267,296 Surplus for the year 1,855,349 - 1,855,349 Other movements (300,000) 300,000 - Closing Reserves 1,822,645 300,000 2,122,645 In accordance with the Council’s financial strategy the designated reserves have been established as a contingency reserve to cover any significant costs arriving from legal challenge to any part of the Teaching Council Act, 2001 and from any of the Council’s rulings.

  • The programme is currently making good progress with, 43% Green or Completed and the remaining 57% being Red or Amber.13/14 Projected Closing General Fund ReservesAt Period 5, the projected Closing Reserves position for 13/14 is forecast at c£30M, unchanged from previous periods.

  • The rate per passenger for the airport tax is subject to an additional charge.


More Definitions of Closing Reserves

Closing Reserves means the Reserves as of the Closing Date COBRA means Section 4980B of the Code and Part 6 of Title I of ERISA, and the regulations promulgated thereunder. Code means the Internal Revenue Code of 1986, as amended, and the Treasury regulations promulgated thereunder. Commitment is defined in Section 7.04(b). Company is defined in the introductory paragraph of this Agreement. Company Audited Financial Statements is defined in Section 4.04(a). Company Disclosure Schedule is defined in the introductory paragraph of Article 4. Company Information Statement is defined in Section 6.04. Company Interim Financial Statements is defined in Section 4.04(a). Company Shareholder Approval is defined in Section 8.01(a).
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Related to Closing Reserves

  • Operating Reserve means generation capacity or load reduction capacity which can be called upon on short notice by either Party to replace scheduled energy supply which is unavailable as a result of an unexpected outage or to augment scheduled energy as a result of unexpected demand or other contingencies.

  • Day-ahead Scheduling Reserves Resources means synchronized and non-synchronized generation resources and Demand Resources electrically located within the PJM Region that are capable of providing Day-ahead Scheduling Reserves.

  • Day-ahead Scheduling Reserves means thirty-minute reserves as defined by the ReliabilityFirst Corporation and SERC.

  • Spinning Reserve means the ability to immediately and automatically increase generation or reduce demand in response to a fall in frequency;

  • PDP Reserves means Proven Reserves which are categorized as both "Developed" and "Producing" in the definitions promulgated by the Society of Petroleum Evaluation Engineers and the World Petroleum Congress as in effect at the time in question.

  • Day-ahead Scheduling Reserves Requirement means the sum of Base Day-ahead Scheduling Reserves Requirement and Additional Day-ahead Scheduling Reserves Requirement.

  • Additional Day-ahead Scheduling Reserves Requirement means the portion of the Day- ahead Scheduling Reserves Requirement that is required in addition to the Base Day-ahead Scheduling Reserves Requirement to ensure adequate resources are procured to meet real-time load and operational needs, as specified in the PJM Manuals.

  • Base Day-ahead Scheduling Reserves Requirement means the thirty-minute reserve requirement for the PJM Region established consistent with the Applicable Standards, plus any additional thirty-minute reserves scheduled in response to an RTO-wide Hot or Cold Weather Alert or other reasons for conservative operations. Base Load Generation Resource

  • Closing Cash means the aggregate amount of Cash of the Company as of the Effective Time.

  • Required Reserves at any time means the sum of (a) the Yield Reserve, plus (b) the Servicing Fee Reserve, plus (c) the greater of (i) the sum of the Loss Reserve Ratio and the Dilution Reserve Percentage and (ii) the Minimum Percentage, each as in effect at such time, multiplied by the Net Pool Balance on such date.

  • Closing Date Net Working Capital has the meaning specified in Section 3.4(a).

  • Initial Reserve Report means the report prepared by or under the supervision of the chief engineer of the Borrower with respect to certain Oil and Gas Properties of the Borrower and its Restricted Subsidiaries as of December 31, 2018.

  • Closing Value means, as of a particular date, the value of a Share determined by the closing sales price for such Share (or the closing bid, if no sales were reported) as quoted on The New York Stock Exchange for the last market trading day prior to the date of determination, as reported in The Wall Street Journal or such other source as the Administrator deems reliable.

  • Net Working Capital Adjustment Amount means an amount, which may be a positive or negative number, equal to the Net Working Capital as of the Effective Time minus the Net Working Capital Threshold.

  • Working Capital Adjustment Amount has the meaning set forth in Section 2.1(b)(ii). Section 1.2

  • road reserve ’ means the area contained within the statutory width of a road, and includes roadways, shoulders and sidewalks and the airspace above such roadways, shoulders and sidewalks and all other areas within the road reserve boundary;

  • Closing Adjustment Amount shall have the meaning set forth in Section 3.2(c).

  • Post-Closing Adjustment Amount has the meaning set forth in Section 2.04(c).

  • Closing Date Cash has the meaning specified in Section 3.4(a).

  • Estimated Closing Indebtedness has the meaning set forth in Section 2.4(a).

  • Closing Cash Amount shall have the meaning set forth in Section 2.8(b).

  • Estimated Closing Net Working Capital has the meaning set forth in Section 2.5.

  • Working Capital Escrow Amount means $500,000.

  • Closing Date Working Capital has the meaning specified in Section 2.3(b).

  • Day-ahead Scheduling Reserves Market means the schedule of commitments for the purchase or sale of Day-ahead Scheduling Reserves developed by the Office of the Interconnection as a result of the offers and specifications submitted in accordance with Operating Agreement, Schedule 1, section 1.10 and the parallel provisions of Tariff, Attachment K-Appendix.

  • Required Reserve Amount means, with respect to any Payment Date, the lesser of (a) 0.25% of the difference of the Aggregate Starting Principal Balance less the Yield Supplement Overcollateralization Amount as of the applicable Cutoff Date of all Receivables transferred to the Trust and (b) the Outstanding Amount of the Notes.