GAAP Reserve definition

GAAP Reserve means the following reserves or reserves equivalent or similar thereto established and a maintained by API on its consolidated balance sheet in conformity with GAAP; (1) the "Advertising Reserve", (2) the "Cash Discount Reserve", (3) the "Promotional Reserve" to the extent that any item therein can result in a net reduction in the Unpaid Balance of the Receivables Pool, and the "Volume Rebate Reserve".
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GAAP Reserve has the meaning set forth in Section 2(j)(ii)(C) below. “Hazardous Substance” means any substance regulated under or defined by Environmental, Health, and Safety Laws, including, but not limited to, any pollutant, contaminant, hazardous substance, hazardous constituent, hazardous waste, special waste, solid waste, industrial waste, petroleum derived substance or waste, or toxic substance. “Hermetic” has the meaning set forth in Section 7(f) below. “Hermetic Payment” has the meaning set forth in Section 7(f) below. “Hermetic Pump Business” has the meaning set forth in Section 7(f) below. “Hermetic Pump Revenues” has the meaning set forth in Section 7(f) below. “Illinois Act” shall mean the Illinois Business Corporation Act of 1983, as amended. “Indebtedness” means (i) all indebtedness for borrowed money or for the deferred purchase price of property or services (including, without limitation, reimbursement and all other obligations with respect to surety bonds, letters of credit and bankers’ acceptances, whether or not matured, but excluding all accounts payable and accruals), including the current portion of such indebtedness, (ii) all obligations evidenced by notes, bonds, debentures or similar instruments, and (iii) all capital lease obligations. “Indemnification and Release Agreement” has the meaning set forth in Section 5(a)(x) below. 4 “Indemnified Party” has the meaning set forth in Section 8(d) below. “Indemnifying Party” has the meaning set forth in Section 8(d) below. “Intellectual Property” means, with respect to the Business:
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GAAP Reserve as used in this Agreement with ------------ respect to the Policies, means (a) + (b) + (c) where:
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Examples of GAAP Reserve in a sentence

  • GAAP Reserve (original best estimate assumptions with PAD)= PV of Benefits – PV of Net Premiums= 2,200 – 1,100= 1,100 Net GAAP Liability= GAAP Reserve – DAC= 1,100 – 300= 800 Gross Premium Reserve (GPV, current best estimate assumptions without PAD)= PV of Benefits – PV of Gross Premiums= 2,300 – 1,200= 1,100 Block is in loss recognition since GPV > Net GAAP Liability.

  • Case No. IT-04-74-T, Redacted and Public Version of Order onJadranko Prlić’s Motion to Extend His Provisional Release, 1 March 2012, p.5.

  • Candidates were expected to state what the Net GAAP Reserve means as well as define the Minimum Liability requirement both of which are used in the test.

  • The Ceding Company shall credit the Reinsurer with the Reinsurer’s share of the change in the GAAP Reserve, as described in Section 14.02, and a quarterly reinsurance premium of 0.00085 times the retained net amount at risk on the quarterly Settlement Date.

  • GAAP Reserve = Highest CSV + max(0, CV+LTC/EOB reserve – Highest CSV) where Highest CSV is (max, AB, ROP,MGCV), AB is the Account Balance before reduction for surrender charges, and MGCV is the tabular guaranteed cash value.1 (14%)1 (17%)1 (33%) d.

  • On Understanding the Effects of GAAP Reserve Assumptions, Transactions of the Society of Actuaries, 27, 1975, 71-88.

  • Calculated as the present value of future benefits to be paid less the present value offuture net premiums payable.$9.0B$16.5B Type of LTC Reserve (GAAP) Reserve DescriptionBalance at 9/30/17Balance at 12/31/17Claim(ASC 944-40-30-1)Present value of the amount needed to provide for the estimated ultimate cost of settling claims relating to insured events that haveoccurred on or before the end of the respective reporting period.57 174.

  • Subject to generally accepted accounting practices (GAAP), Reserve Accounts as established by the authority of the Board or Congregation have two purposes: (i) provide funds in prudent anticipation of known long-term financial contingencies and (ii) provide funds for budgeted, approved or anticipated expenses.

  • The following table summarizes the two different types of LTC liabilities (LTC Reserves) now reflected in GE’s financial statements: Type of LTC Reserve (GAAP) Reserve DescriptionBalance at 9/30/17Balance at 12/31/17Benefit(ASC 944-40-30-7)Claims not yet received from policyholders.

  • The Funds Withheld Investment Credit shall be a quarterly amount equal to 1.8244601% (7.5% effective annual yield rate) of the GAAP Reserve Held as of the immediately preceding Settlement Date, if positive.


More Definitions of GAAP Reserve

GAAP Reserve means a reserve against the TNFI Borrowing Limit and/or the Overall Borrowing Limit for reserves against Accounts in accordance with GAAP.
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Related to GAAP Reserve

  • 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.

  • Yield Reserve means, on any date, an amount equal to: (a) the Capital at the close of business of the Servicer on such date multiplied by (b)(i) the Yield Reserve Percentage on such date divided by (ii) 100% minus the Yield Reserve Percentage on such date.

  • FF&E Reserve shall have the meaning given such term in Section 5.1.2(a).

  • Cash Reserve means (i) at any time after the occurrence and during the continuation of a Level One Trigger, [*] of the aggregate Investment at such time and (ii) at any other time, an amount equal to 1% of the aggregate Investment at such time.

  • Pension reserve means the present value, computed upon the basis of the mortality and other tables adopted by the board, of all payments to be made on account of any retirement allowance or benefit in lieu of any retirement allowance, granted to a member or beneficiary under this chapter.

  • Required Reserve means, on any day during a Calculation Period, the product of (a) the greater of (i) the Required Reserve Factor Floor and (ii) the sum of the Loss Reserve, the Yield Reserve, the Dilution Reserve and the Servicing Reserve, times (b) the Net Pool Balance as of the Cut-Off Date immediately preceding such Calculation Period.

  • LC Reserve the aggregate of all LC Obligations, other than (a) those that have been Cash Collateralized; and (b) if no Default or Event of Default exists, those constituting charges owing to the Issuing Bank.

  • Required Accumulation Reserve sub-Account Amount means, with respect to any Monthly Period during the Accumulation Reserve Funding Period, an amount equal to (i) 0.5% of the Outstanding Dollar Principal Amount of the Class A(2019-1) Notes as of the close of business on the last day of the preceding Monthly Period or (ii) any other amount designated by the Issuer; provided, however, that if such designation is of a lesser amount, the Note Rating Agencies shall have provided prior written confirmation that a Ratings Effect will not occur with respect to such change.

  • 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.

  • Series Reserve Account means the Reserve Account for the Series of Bonds established in the Reserve Fund by Supplemental Indenture in an amount equal to the Series Reserve Account Requirement for such Series of Bonds.

  • 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.

  • 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.

  • Loss Reserve means, on any date, an amount equal to: (a) the Aggregate Capital at the close of business of the Servicer on such date multiplied by (b)(i) the Loss Reserve Percentage on such date divided by (ii) 1, minus the Loss Reserve Percentage on such date.

  • Debt Service Reserve means the reserve for payment of principal and interest on the Bonds, created and established by Sections 502 and 506 of the General Trust Indenture.

  • 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.

  • Availability Reserve means without duplication, (a) the Rent and Charges Reserve; (b) the Hedge Product Reserve, (c) the Banking Services Reserve; provided that reserves of the type described in this clause (c) shall be instituted only after consultation with the Lead Borrower; (d) the Priority Payable Reserve; (e) the GST, HST Tax Reserve; (f) the Royalty Reserve; and (g) such additional reserves not otherwise addressed in clauses (a) through (f) above, in such amounts and with respect to such matters, as the Administrative Agent in its Permitted Discretion may elect to establish or modify from time to time. Notwithstanding anything to the contrary in this Agreement, (i) such Availability Reserves shall not be established or changed except upon not less than five (5) Business Days’ (or such shorter period as may be agreed by the Lead Borrower) prior written notice to the Lead Borrower, which notice shall include a reasonably detailed description of such applicable Availability Reserve being established (during which period (a) the Administrative Agent shall, if requested, discuss any such Availability Reserve or change with the Lead Borrower and (b) the Lead Borrower may take such action as may be required so that the event, condition or matter that is the basis for such Availability Reserve or change thereto no longer exists or exists in a manner that would result in the establishment of a lower Availability Reserve or result in a lesser change thereto, in a manner and to the extent reasonably satisfactory to the Administrative Agent), (ii) the amount of any Availability Reserve established by the Administrative Agent, and any change in the amount of any Availability Reserve, shall be limited to such Availability Reserve or changes as the Administrative Agent determines in its Permitted Discretion to be necessary (a) to reflect items that could reasonably be expected to adversely affect the value of the applicable Eligible Accounts or Eligible Inventory or (b) to reflect items that could reasonably be expected to adversely affect the enforceability or priority of the Administrative Agent’s Liens on the applicable Collateral, and (iii) the amount of any Availability Reserve established by the Administrative Agent, and any change in the amount of any Availability Reserve, shall have a reasonable relationship to the event, condition or other matter that is the basis for such Availability Reserve, criteria, rate or such change; provided that (x) no Availability Reserves may be established after the Closing Date based on circumstances, contingencies, events, conditions or matters known to the Administrative Agent as of the Closing Date for which no Availability Reserve was imposed on the Closing Date or criteria included in the definitions of Eligible Accounts or Eligible Inventory, in each case, as in effect on the Closing Date, unless such events, conditions or matters have changed in any material adverse respect since the Closing Date, (y) in no event shall any Availability Reserve with respect to any component of the Borrowing Base duplicate any Availability Reserve or adjustment already accounted for in determining eligibility criteria (including collection and/or advance rates) and (z) no Availability Reserve shall be imposed on the first 5% of dilution of Accounts and thereafter no dilution Availability Reserve shall exceed 1% for each incremental whole percentage in dilution over 5% (it being agreed that partial percentage point reserves are permitted (e.g., a reserve for 0.1 percentage points where dilution is 5.1%). Notwithstanding clause (i) of the preceding sentence, changes to the Availability Reserves solely for purposes of correcting mathematical or clerical errors (and such other changes as are otherwise agreed to by the Lead Borrower) shall only be subject to a notice period of one (1) Business Day, it being understood that no Default or Event of Default shall be deemed to result therefrom, if applicable, for a period of five (5) Business Days.

  • 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;

  • Interest Reserve means, for any Calculation Period, the product (expressed as a percentage) of (i) 1.5 times (ii) the Alternate Base Rate as of the immediately preceding Cut-Off Date times (iii) a fraction the numerator of which is the highest Days Sales Outstanding for the most recent 12 Calculation Periods and the denominator of which is 360.

  • Interest Reserve Amount has the meaning set forth in Section 5.1(d).

  • 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.]

  • Dilution Reserve means, as of any date of determination, an amount sufficient to reduce the advance rate against Eligible Accounts by 1 percentage point for each percentage point by which Dilution is in excess of 5%.

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

  • C/D Reserve Percentage for any day as applied to any ABR Loan, that percentage (expressed as a decimal) which is in effect on such day, as prescribed by the Board, for determining the maximum reserve requirement for a Depositary Institution (as defined in Regulation D of the Board) in respect of new non-personal time deposits in Dollars having a maturity of 30 days or more.

  • Replacement Reserve Monthly Deposit 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.

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