Discretionary Reserve Funds definition

Discretionary Reserve Funds has the meaning assigned to it in Section 6(c) hereof.
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Discretionary Reserve Funds means funds that are created at the discretion of Council to finance future expenditures, for a purpose designated by Council.
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Discretionary Reserve Funds means a separate dedicated bank account established at the discretion of Council whenever revenues are earmarked to finance future expenditures of a purpose designated by Council. Revenues set aside from major fund-raising initiatives such the Splash Pad is an example of a discretionary reserve fund.
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Examples of Discretionary Reserve Funds in a sentence

  • The General Partner shall as soon as reasonably practicable notify the Holders’ Committee in writing with respect to the existence and subsequent use of any Discretionary Reserve Funds.

  • Municipal Code Chapter 227 (Reserves and Reserve Funds) be amended by adding the “Rail Heritage Reserve Fund” to Schedule #7, Corporate Discretionary Reserve Funds, and that leave be granted for the introduction of any necessary bills in Council to give effect thereto.

  • In accordance with the Companies Laws of the PRC and the provisions of the articles of association of subsidiaries with limited liabilities in the PRC, appropriation of net profits (after offsetting accumulated losses from prior years) should be made by these companies to their respective Statutory Surplus Reserve Funds and the Discretionary Reserve Funds before distributions are made to the owners.

  • Consideration will be given to phase in increases or decreases to operating budgets that result from funding shifts through the use of Discretionary Reserve Funds.

  • At its meeting on August 25-28, 2014, City Council subsequently approved Bylaw 990- 2014, which included amendments to Chapter 227 to reclassify a number of Obligatory Reserve Funds (deferred revenue) to Discretionary Reserve Funds, including moving the Bloor Street Transformation Maintenance Reserve Fund from Schedule 14 - State of Good Repair Obligatory Reserve Funds to Schedule 8 - State of Good Repair Discretionary Reserve Funds.

  • City Council approve the establishment of a discretionary reserve fund called the 'Toronto Public Library IT Asset Replacement Reserve Fund' in Appendix B, Schedule 7 - Corporate Discretionary Reserve Funds of the City of Toronto Municipal Code Chapter 227, Reserves and Reserve Funds, the purpose of which is to provide funding to purchase Information Technology (IT) equipment for Toronto Public Library (TPL) as part of the annual replacement cycle for IT equipment, with criteria set out in Appendix G.

  • Amend Municipal Code, Chapter 227 [Reserves and Reserve Funds] by adding the “Carbon Credit Reserve Fund” to Schedule No. 7 – Corporate Discretionary Reserve Funds as part of the Climate Change Reserve Fund Group.

  • City Council establish and amend Toronto Municipal Code Chapter 227, Reserves and Reserve Fund – by adding a discretionary reserve fund called the ‘Home Energy Assistance Toronto Reserve Fund’ - as set out in Attachment 1 within Schedule 7 – Corporate Discretionary Reserve Funds as part of the Climate Change Reserve Fund Group to be used to finance sustainable energy retrofit grants and associated administrative costs for single family and small commercial building sectors across the City.

  • Inter-fund lending between Reserves and Discretionary Reserve Funds (one Reserve is in a deficit and another Reserve is in a surplus) shall be permitted to temporarily finance capital and/or operating cash flow deficiencies and avoid external borrowing costs, provided that there is a strategic financial plan in place to replenish the deficit and that interest continues to be allocated to the Reserves and Reserve Funds in accordance with this policy.

  • Location within the Consolidated Reserves/Reserve Funds Schedule Account within Schedule #8 – State of good Repair Discretionary Reserve Funds 2.

Related to Discretionary Reserve Funds

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.

  • Pre-Funding Account means the account designated as the Pre-Funding Account in, and which is established and maintained pursuant to Section 7.07.

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Prefunding Account The separate Eligible Account created and maintained by the Trustee pursuant to Section 3.06 in the name of the Trustee for the benefit of the Certificateholders and designated "U.S. Bank National Association, in trust for registered holders of CSFB Mortgage Pass-Through Certificates, CSFB ABS Trust Series 2001-HE12" Funds in the Prefunding Account shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement and shall not be a part of any REMIC created hereunder; provided, however, that any investment income earned from Permitted Investments made with funds in the Prefunding Account shall be for the account of the Depositor.

  • Excess Funds Subaccount is defined in Section 8.02(a) of the Indenture.

  • Required Reserve Fund Deposit With respect to any Distribution Date on which the Net Excess Spread is less than 0.25%, the amount, if any by which (a) the product of 1.00% and the Aggregate Pool Balance for such date exceeds (b) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. With respect to any Distribution Date on which the Net Excess Spread is equal to or greater than 0.25%, the amount, if any, by which (i) $1,000 exceeds the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date; provided, however, that on any Distribution Date on which the Class Principal Amount of each Class of Offered Certificates, the Class B1 Certificates and the Class B2 Certificates has been reduced to zero, the Required Reserve Fund Deposit shall be zero.

  • Liquidity Reserve Account shall have the meaning set forth in Section 8.2(A)(iii).

  • Debt Service Reserve Account shall have the meaning given to it in the Depository Agreement.

  • Class C Reserve Account Percentage means, (i) zero, if the Quarterly Excess Available Funds Percentage on such Transfer Date is greater than or equal to 4.50%, (ii) 1.25%, if the Quarterly Excess Available Funds Percentage on such Transfer Date is less than 4.50% and greater than or equal to 4.00%, (iii) 2.00%, if the Quarterly Excess Available Funds Percentage on such Transfer Date is less than 4.00% and greater than or equal to 3.50%, (iv) 2.75%, if the Quarterly Excess Available Funds Percentage is less than 3.50% and greater than or equal to 3.00%, (v) 3.50%, if the Quarterly Excess Available Funds Percentage on such Transfer Date is less than 3.00% and greater than or equal to 2.50%, (vi) 4.50%, if the Quarterly Excess Available Funds Percentage is less than 2.50% and greater than or equal to 2.00%, and (vii) 6.00%, if the Quarterly Excess Available Funds Percentage on such Transfer Date is less than 2.00%.

  • Debt Service Reserve Fund means the fund by that name established pursuant to the Second Resolution.

  • Required Reserve Fund Amount With respect to any Distribution Date on which the Net Excess Spread is less than 0.25%, the amount, if any by which (a) the product of 1.00% and the Pool Balance for such date exceeds (b) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. With respect to any Distribution Date on which the Net Excess Spread is equal to or greater than 0.25%, the amount, if any, by which (i) $1,000 exceeds (ii) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. Provided, however, that on any Distribution Date on which the Class Principal Amount of each Class of LIBOR Certificates has been reduced to zero, the Required Reserve Fund Amount shall be zero.

  • Interest Reserve Account As defined in Section 3.4(d).

  • Reserve Account Withdrawal Amount means, with respect to any Distribution Date, the lesser of (x) any shortfall in the amount of Available Funds available to pay the amounts specified in clauses (i) through (xvii) of Section 5.7(a) (taking into account application of Available Funds to the priority of payments specified in Section 5.7(a) and ignoring any provision hereof which otherwise limits the amounts described in such clauses to the amount of funds available) and (y) the amount on deposit in the Reserve Account on such Distribution Date prior to application of amounts on deposit therein pursuant to Section 5.8.

  • Reserve Fund means the account designated as such, and established and maintained pursuant to Section 4.01.

  • Funding Accounts has the meaning assigned to such term in Section 4.01(h).

  • Specified Reserve Account Balance means, for any Payment Date, an amount equal to 1.00% of the Pool Balance as of the Cut-Off Date; provided, however, on any Payment Date after the Notes are no longer Outstanding following payment in full of the principal and interest on the Notes, the “Specified Reserve Account Balance” shall be $0.

  • Targeted Accumulation Reserve Subaccount Deposit means, with respect to any Distribution Date during the Accumulation Reserve Funding Period, an amount equal to (i) [0.5]% of the Outstanding Dollar Principal Amount of the Class A( - ) Notes as of the close of business on the last day of the related Due Period or (ii) any other amount designated by the Calculation Agent on behalf of the Issuer.]

  • Aggregate Account means, with respect to each Participant, the value of all accounts maintained on behalf of a Participant, whether attributable to Employer or Employee contributions, subject to the provisions of Section 9.2.

  • Replacement Reserve Account shall have the meaning set forth in Section 7.3.1 hereof.

  • Available Reserve Account Amount means, for any Transfer Date, an amount equal to the lesser of (a) the amount on deposit in the Reserve Account (exclusive of Investment Earnings on such date and before giving effect to any deposit to, or withdrawal from, the Reserve Account made or to be made with respect to such date) and (b) the Required Reserve Account Amount, in each case on such Transfer Date.

  • Interest Funding Account means the trust account designated as such and established pursuant to Section 5.01(a).

  • Excess Funding Account shall have the meaning specified in Section 4.02.

  • Required Reserve Account Amount means, with respect to any Distribution Date on or after the Reserve Account Funding Date, an amount equal to (1) 0.50% of the Class A Invested Amount as of the preceding Distribution Date (after giving effect to all changes therein on such date) or (2) any other percentage (which may be 0%) of the Class A Invested Amount designated by the Transferors, provided that if such percentage is less than the percentage specified in clause (1) above, the Transferors shall have received the prior written consent of the Collateral Interest Holder and written notice from each Rating Agency that the Rating Agency Condition shall have been satisfied with respect to such designation and shall have delivered copies of each such written notice to the Servicer and the Trustee.

  • Replacement Reserve Fund shall have the meaning set forth in Section 7.3.1 hereof.