Eligible Reserves means Reserves against the Borrowing Base established or modified in the Permitted Discretion of the Administrative Agent subject to the following: (a) the amount of any Eligible Reserves shall have a reasonable relationship to the event, condition or other matter that is the basis for the establishment of such Reserve or such modification thereto, (b) except as otherwise expressly provided in the definition of Eligible Account or Eligible Inventory, no Reserves shall be established or modified to the extent they are duplicative of Reserves or modifications already accounted for through eligibility or other criteria (including collection/advance rates), (c) any rent reserves will be subject to the limitations set forth in the definition of “Rent Reserve”, (d) no Reserves will be imposed relating to surety bonds, except to the extent (i) Borrowing Base assets are subject to perfected Liens securing reimbursement obligations in respect of surety bonds which Liens are pari passu with or have priority over the Liens in favor of the Administrative Agent for the benefit of the Secured Parties, (ii) sureties have made demands for cash collateral which have not been satisfied or (iii) any surety takes any remedial action with respect to any Borrowing Base assets, whether pursuant to such surety’s Liens or otherwise, or delivers notice to any Loan Party that such surety intends to take such action, (e) no Reserves may be taken and no changes to the eligibility standards shall be made after the Closing Date based on circumstances, conditions, events or contingencies known to the Administrative Agent as of the Closing Date and, in the case of Reserves, for which no Reserves were imposed on the Closing Date, and for which Accounts or Inventory, were not deemed ineligible on the Closing Date, unless such circumstances, conditions, events or contingencies shall have changed in any material adverse respect since the Closing Date, (f) no Reserve may be taken after the Closing Date based on circumstances known to the Administrative Agent as of the Closing Date for which no Reserve was imposed on the Closing Date, and no Reserve taken on the Closing Date may be increased, unless, in each case, such circumstances, conditions, events or contingences shall have changed in any material adverse respect since the Closing Date and (g) other than Bank Product Reserves, no Reserves will be imposed relating to obligations under any Secured Hedge Agreement or Secured Cash Management A...
Eligible Reserves. Reserves against the Tranche A Borrowing Base established or modified in the Permitted Discretion of the Administrative Agent subject to the following: (i) the amount of any Eligible Reserves shall have a reasonable relationship to the event, condition or other matter that is the basis for the establishment of such Reserve or such modification thereto, (ii) except as otherwise expressly provided in the definition of Eligible Account or Eligible Inventory, no Reserves shall be established or modified to the extent they are duplicative of Reserves or modifications already accounted for through eligibility or other criteria (including collection/advance rates), (iii) any Rent Reserves will be subject to the limitations set forth in the definition of “Rent Reserves”, and (iv) no Reserves will be imposed relating to surety bonds, except to the extent (x) Borrowing Base assets are subject to perfected Liens securing reimbursement obligations in respect of surety bonds which Liens are pari passu with or have priority over the Liens in favor of the Administrative Agent for the benefit of the Secured Parties, (y) sureties have made demands for cash collateral which have not been satisfied or (z) any surety takes any remedial action with respect to any Borrowing Base assets, whether pursuant to such surety’s Liens or otherwise, or delivers notice to any Loan Party that such surety intends to take such action.
Eligible Reserves means the reserve fund, the retained earnings reserve and any other fund established by the bank and approved by the Bank of Jamaica as being part of the bank's capital base;
Examples of Eligible Reserves in a sentence
Eligible Reserves include those on activated status, those deactivated but using the TRICARE Assistance Management Program, and those enrolled in the premium-based TRICARE Reserve Select or TRICARE Retired Reserve benefits programs.
A bank that fails to maintain Eligible Reserves equal to its Reserve Requirement shall pay the Bank a penalty equal to the Bank Rate applicable to credit balances plus 5 percentage points on the amount that average Eligible Reserves actually maintained is less than the Reserve Requirement.
The average amount of Eligible Reserves during a Reserve Maintenance Period is the sum of the Eligible Reserves at the end of each calendar day during the period divided by the number of days in the period.
Veterans have earned the right to use their educational benefits and we at FGCU are both pleased and honored to assist you in utilizing them to your best advantage.
Eligible Reserves Eligible reserves comprise the following: • Share PremiumShare premium is used to record premium arising from new shares issued in the group entity.3.1 Tier 1 Capital (Contd.) • Statutory ReserveStatutory reserve is maintained in compliance with the provisions of IBA and is not distributable as cash dividends.
More Definitions of Eligible Reserves
Eligible Reserves means the aggregate of (a) the Swap Reserve (if any), (b) the Undrawn Availability Reserve, and (c) such other amounts as Agent, in its sole credit judgment exercised in good faith, may from time to time establish, with substantially contemporaneous notice to Borrowing Agent, to reflect risks or contingencies which may affect its ability to realize upon any Collateral including, without limitation, with respect to Priority Payables (which, as of the Closing Date, is in the approximate amount of $1,540,000) with respect to Stream Canada or pursuant to Section 6.14.
Eligible Reserves means the sum of all Assigned Reserves plus 80% of the Unassigned Reserves, minus (a) the sum of (i) the amount of divestitures of Assigned Reserves and Unassigned Reserves by the Borrower or any of its Subsidiaries since the date of the most recent statement filed by the Parent with the SEC identifying the Assigned Reserves and the Unassigned Reserves, and (ii) the amount of Assigned Reserves and Unassigned Reserves mined since the date of the most recent statement filed by the Parent with the SEC identifying the Assigned Reserves and the Unassigned Reserves, plus (b) the amount of any acquisitions or leases of Assigned Reserves and Unassigned Reserves by the Borrower or any of its Subsidiaries since the date of the most recent statement filed by the Parent with the SEC identifying the Assigned Reserves and the Unassigned Reserves, provided that, if Assigned Reserves or Unassigned Reserves have been acquired or leased from an Affiliate, the terms and conditions of the acquisition or lease shall be reasonably satisfactory to the Agents. Environmental Claim shall mean any administrative, regulatory or judicial action, suit, claim, notice of noncompliance or violation, notice of liability or potential liability, proceeding, consent order or consent agreement relating in any way to any Environmental Law, Environmental Permit, Regulated Substances or Contamination or arising from alleged injury or threat of injury to the environment. Environmental Complaint shall mean any written notice or complaint setting forth allegations relating to or a cause of action for personal injury or property damage, natural resource damage, contribution or indemnity for response costs, civil penalties, criminal penalties, or declaratory or equitable relief arising under any Environmental Law or any order, notice of violation, citation, subpoena, request for information or other written notice of any type issued by an Official Body pursuant to any Environmental Law. Environmental Law shall mean any federal, state, local or foreign statute, Law (including, but not limited to Comprehensive Environmental Response, Compensation and Liability Act ("CERCLA"), 42 X.X.X.xx. 9601 et seq., the Resource Conservation and Recovery Act ("RCRA"), 42 X.X.X.xx. 6901 et seq., the Hazardous Materials Transportation Act, 49 X.X.X.xx. 1801 et seq., the Toxic Substances Control Act, 15 U.S.C. ss. 2601 et seq., the Federal Water Pollution Control Act, 33 X.X.X.xx. 1251 et seq., the Federal Safe Drinking...
Eligible Reserves means such amounts as Agent, in its sole credit judgment exercised in good faith, may from time to time establish, with substantially contemporaneous notice to Borrowing Agent, to reflect risks or contingencies which may affect its ability to realize upon any Collateral including, without limitation, with respect to Priority Payables or pursuant to Section 6.14.
Eligible Reserves. Reserves against the Canadian Borrowing Base or the US Borrowing Base established or modified in the Permitted Discretion of the Administrative Agent subject to the following: (i) the amount of any Eligible Reserves shall have a reasonable relationship to the event, condition or other matter that is the basis for the establishment of such Reserve or such modification thereto, (ii) except as otherwise expressly provided in the definition of Eligible Trade Account, Eligible Credit Card Account, Eligible Inventory or Eligible Qualifying Equipment, no Reserves shall be established or modified to the extent they are duplicative of Reserves or modifications already accounted for through eligibility or other criteria (including collection/advance rates), (iii) any rent reserves will be subject to the limitations set forth in the definition of “Rent Reserves,” and (iv) no Reserves will be imposed relating to obligations under any Specified Hedge Agreement or Cash Management Obligations without the written consent of the Lead Borrower.
Eligible Reserves has the meaning set out in Section 8.1.
Eligible Reserves means the Reserve Fund, the Retained Earnings
Eligible Reserves means, with respect to each operating year or portion thereof, Operating Reserves and Replacement Reserves [if applicable, additional types of reserves may be added and defined below], which meet the requirements set forth below: