Equipment Reserve definition

Equipment Reserve means, at any time of determination, an amount equal to the Net Book Value of all Equipment listed on the most recently delivered Schedule 1.01(g); provided, however, that on the Equipment Reserve Release Date, the Equipment Reserve shall automatically be reduced to $0.00.

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Equipment Reserve means, effective (A) upon the earlier to occur of the (i) due date for the delivery of the Borrowing Base Certificate for March 2020 (as determined by Section 8.1 hereof), and (ii) date of delivery of the Borrowing Base Certificate due for March 2020, an amount equal to $200,000; and (B) upon the earlier to occur of the (i) due date for the delivery of the Borrowing Base Certificate for June 2020 (as determined by Section 8.1 hereof), and (ii) date of delivery of the Borrowing Base Certificate due for June 2020, an amount equal to $400,000.

Equipment Reserve as currently defined in Section 1.01 of the Credit Agreement is hereby deleted in its entirety and replaced with the following:

Examples of Equipment Reserve in a sentence

At the end of each Fiscal Year, any amounts remaining in the Repairs and Equipment Reserve shall be carried forward to the next Fiscal Year.
The Equipment Reserve shall be funded from i) any net funds received by the Counties as result of the dissolution of the ▇▇▇▇▇▇▇▇▇▇, Otsego Schoharie Solid Waste Management Authority (MOSA); and/or ii) by available surplus funds remaining in the Operating Fund at the end of the contract year, after accounting for all actual expenses incurred by the Landfill Manager.
The Oversight Panel shall recommend the amount of funds to be transferred to the Equipment Reserve from either source, and the use of such funds for capital projects or purchases.
In addition to the Operating Fund and the Post Closure Reserve Fund established in the Post Closure Agreement, ▇▇▇▇▇▇▇▇▇▇ County shall establish a separate Equipment Reserve Fund (the Equipment Reserve) at a financial institution approved by the Counties, which shall be used solely for the purchase and/or repair of equipment necessary for post closure activities, or for capital projects in monitoring and maintaining the Landfills approved by the Counties.
Fire Equipment Reserve refers to a fund that has been established for the Fire Department to fund for the purpose of replacing older vehicles and equipment.
The DISTRICT and EFD will agree on an amount, as budgeted funds allow, that EFD will annually transfer to an Apparatus and Equipment Reserve Fund.
These costs will include the Contracting Agency's share of the Admin/Dispatch Costs (100-400), Information Services Costs (600), and Equipment Reserve (5009) as established by the Contracting Agencies share of total calls for service per the Agreement between CONFIRE and the Contracting Agency.
EFD and the DISTRICT shall agree to a fleet plan that establishes an Apparatus and Equipment Reserve Fund for apparatus and vehicle replacement in accordance with established DISTRICT practices.
Each month upon receipt by the Paying Agent of the Monthly Servicer Report if such Monthly Servicer Report shows a reduction in the Equipment Reserve Account Required Balance, then the Borrower (or the Manager on behalf of the Borrower) or the Agent shall, prior to the related Payment Date, direct the Paying Agent to send the Eligible Letter of Credit Bank a letter in the form provided in the Letter of Credit to reduce the stated amount of the Letter of Credit.
Expenditures from the Apparatus and Equipment Reserve Fund will be jointly agreed upon by EFD and the DISTRICT.

More Definitions of Equipment Reserve

Equipment Reserve means reserves established from time to time by the Administrative Agent in its Permitted Discretion against Eligible Equipment, including, without limitation, on account of (a) the salability of such Eligible Equipment, (b) factors that negatively affect the market value or Net Orderly Liquidation Value of such Eligible Equipment, (c) damage, (d) taxes and other liabilities secured by Liens upon Eligible Equipment that are or may become senior to the Administrative Agent’s Lien and (e) other reasonable costs, expenses and amounts that the Administrative Agent and the Secured Parties may incur or be required to pay to realize upon Eligible Equipment.

Equipment Reserve means an amount (as determined by Agent from time to time) equal to the amount by which (a) the sum of: (i) the amount derived under clause (b) of the definition of “Borrowing Base” at such time, plus (ii) the principal amount of Capex Loans outstanding at such time; exceeds (b) the sum of: (i) the product of (A) seventy-five percent (75%) times (B) the “net forced liquidation value” of Eligible Equipment and Eligible Additional Equipment of Borrowers as determined by the most recent appraisal of Equipment received by Agent, plus (ii) to the extent any Eligible Additional Equipment which is the subject of a Capex Loan is not reflected on such appraisal referenced in clause (b)(i)(B), eighty percent (80%) of the Hard Costs of such Eligible Additional Equipment.”

Equipment Reserve means reserves established from time to time by the Administrative Agent and/or the Revolver Agent in its or their Permitted Discretion (subject to Section 10.18) against Eligible Equipment, including, without limitation, on account of (a) the salability of such Eligible Equipment, (b) factors that negatively affect the market value or Net Orderly Liquidation Value of such Eligible Equipment, (c) damage, (d) taxes and other liabilities secured by Liens upon Eligible Equipment that are or may become senior to the Administrative Agent’s Lien and (e) other reasonable costs, expenses and amounts that the Administrative Agent and the Secured Parties may incur or be required to pay to realize upon Eligible Equipment.

Equipment Reserve shall have the meaning given such term in the Management Agreement (as hereinafter defined).

Equipment Reserve means reserves established by Administrative Agent in its Credit Judgment to reflect factors that could reasonably be expected to negatively impact the Value of Equipment, including change in salability or obsolescence.

Equipment Reserve means, (i) from the Second Amendment Closing Date up to the Equipment Reserve Release 1 Certain language has been italicized in this Second Amendment solely for purposes of indicating new language in this Second Amendment. Deletions are not reflected. Date, an amount equal to the Net Book Value of Borrowers’ Equipment that is subject to the Equipment Utilization Agreement at any given time and listed on Schedule 1.01(g) hereto as amended from time time, which on the Second Amendment Date shall equal $7,000,000 and (ii) from and after the Equipment Reserve Release Date, an amount equal to $0.