General Reserve definition
General Reserve means the reserve referred to in section 34;
General Reserve means the reserve established under section 8; “Governor”, means Governor in Cabinet;
General Reserve means the General Reserve established under section 15;
Examples of General Reserve in a sentence
Amounts on deposit in the General Reserve Account shall be invested in accordance with Section 3.1 hereof.
Deposits to the General Reserve Account shall be made in accordance with Section 3.4 hereof.
The Indenture Trustee on behalf of the Noteholders shall possess all right, title and interest in all funds on deposit from time to time in the General Reserve Account and in all proceeds thereof.
The General Reserve Account shall be under the sole dominion and control of the Indenture Trustee for the benefit of the Noteholders as their interests appear in the Trust Estate.
On the Closing Date, the Indenture Trustee shall deposit, from the proceeds from the sale of the Notes, an amount equal to the General Reserve Account Initial Deposit.
More Definitions of General Reserve
General Reserve means the reserve established under section 8;
General Reserve means appropriated or restricted funds in the form of cash or investments to be used solely for the purpose of absorbing losses.
General Reserve means an amount equal to $4,000,000, which amount shall be reduced by $1,000,000 upon Borrowers’ Fixed Charge Coverage Ratio exceeding 1.0 to 1.0 as of the last day of any fiscal year (as demonstrated in audited financial statements delivered in accordance with Schedule 6.1 hereof), effective as of five (5) Business Days after delivery of such financial statements.
General Reserve means the general reserve of the Company which has been built through retained undistributed profits and which forms a part of the revenue reserves of the Company, as reflected in the accounts of the Company.
General Reserve has the meaning given to it in SECTION 3 of EXHIBIT A.
General Reserve means funds allocated from the general fund used to meet cash requirements before the proceeds from taxes are available and to meet emergency expenditures. The amount of the general reserve shall not at any time exceed the sum of 15 percent of the total current annual general and water reserve fund budgets.
General Reserve means an indivisible reserve of the Co-operative of not less than 1% and not more than 5% of the Co-operative’s net asset value as reflected in the most recent audited report;