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
Each Borrower consents to any such increases or decreases and acknowledges that decreasing the Advance Rates or increasing the Eligible Reserves may limit or restrict Advances requested by Borrowing Agent.
Rule 67 - Eligible Reserves (see also Rule 146) One or more Reserves may be nominated by the Racing Manager, for any Graded Race, Intertrack Race, or the first or only round of an Open Race.
At 31 Dec 2017At 31 March 2017General Loss Provisions4,659,2704,740,654Other Eligible Reserves 2,550,726 2,550,726 Total Tier II Capital (Note 1)7,209,9967,291,380 Note 1: There is no debt capital instrument and subordinated debt outstanding as at 31 December 2017 included in Tier II Capital.
Rs ‘000) At 30 June 2017At 31 March 2017General Loss Provisions4,680,4434,740,654Other Eligible Reserves 2,550,726 2,550,726 Total Tier II Capital (Note 1)7,231,1697,291,380 Note 1: There is no debt capital instrument and subordinated debt outstanding as at 30 June 2017 included in Tier II Capital.
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 amounts that the ABL Administrative Agent may from time to time establish in accordance with the ABL Documentation Principles; provided that they are established in a manner that reflects changes in the ability of the ABL Administrative Agent to realize upon the Collateral included in the Borrowing Base. “Permitted Discretion” means reasonable credit judgment in accordance with customary business practices for comparable asset-based lending transactions; provided that, as it relates to the establishment of new reserves (other than reserves that are expressly included in the definition of “reserves” (to be defined in the ABL Loan Documents in a manner consistent with the ABL Documentation Principles)) or the adjustment or imposition of exclusionary criteria, Permitted Discretion will require that (a) such establishment, adjustment or imposition after the Closing Date be based on the analysis of facts or events first occurring or first discovered by the ABL Administrative Agent after the Closing Date or are materially different from facts or events known to the ABL Administrative Agent on the Closing Date, (b) the amount of any such reserve so established or the effect of any adjustment or imposition of exclusionary criteria be a reasonable quantification of changes in the ability of the ABL Administrative Agent to realize upon the Collateral included in the Borrowing Base and (c) no reserves or changes will be duplicative of reserves or changes already accounted for through eligibility criteria (including collection/advance rates). “Specified Default” shall mean any payment or bankruptcy event of default with respect to the Loan Parties under the ABL Facility, any event of default arising from failure to comply with the financial covenant, any event of default arising from a failure to deliver a Borrowing Base Certificate or any material misrepresentation therein or any event of default arising from a failure to comply with the cash management provisions, in each case, when required and after the expiry of any applicable cure period. The eligibility criteria for receivables shall be consistent with the ABL Documentation Principles; provided that: the time-based exclusion shall apply to accounts with respect to which more than 120 days have elapsed from the original invoice date thereof or which is more than 60 days past due after the original due date, except that up to $30.0 million of receivables with respect to which more than 120 days, but not mor...
Eligible Reserves means amounts that the ABL Agent may in its discretion from time to time establish in accordance with the ABL Credit Agreement, to reflect changes in the ability of the ABL Agent to realize upon the Collateral included in the Borrowing Base with such modifications as are reasonably necessary to reflect the nature of the Issuer’s business and assets and the results of commercial field examinations and appraisals.
Eligible Reserves means the dollar amount of any donations or grants made to Borrower by any Person from time to time and deemed to be an “Eligible Reserve” by Administrator; provided that for the purposes of determining the Class A Loans Leverage Ratio and Class B Loans Leverage Ratio hereunder, the aggregate amount of “Eligible Reserves” shall be, at any applicable time of determination, the cumulative dollar amount of such donations or grants by reference to the original dollar amount of such donation or grant on the day such donation or grant was actually received by Borrower.
Eligible Reserves. Reserves against the Canadian Borrowing Base or the US Borrowing Base established or modified in the Permitted Discretion of the Collateral 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 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 obligations under any Specified Hedge Agreement without the written consent of the Borrowers (it being understood and agreed that all such obligations in respect of Specified Hedge Agreements will be at least one step junior in the waterfall priority in respect of principal obligations under this Agreement pursuant to Section 6.4 of the Guarantee and Collateral Agreement).
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:
Eligible Reserves means such amounts as the ABL Administrative Agent, in its Permitted Discretion, may from time to time establish in accordance with the ABL Credit Documentation.
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.