General Reserve Fund means the fund by that name established by Section 506 of the General Resolution.
General Reserve Fund means the general reserve fund of the
General Reserve Fund shall have the meaning assigned to such term in the Mortgage Loan Agreement or such comparable fund as shall be established under this Agreement in accordance with Section 7.6 hereof.
Examples of General Reserve Fund in a sentence
Any amount representing the General Reserve Fund Required Amount on the Closing Date will be paid into the Transaction Account (with a corresponding credit recorded to the General Reserve Fund Ledger).
PML as Administrator (on behalf of the Issuer) will fund the General Reserve Fund from part of the proceeds of the Noteholders' subscription for the Class S Notes in an amount equal to the General Reserve Fund Required Amount as at the Closing Date.
More Definitions of General Reserve Fund
General Reserve Fund has the meaning given to it in the Administration Agreement;
General Reserve Fund means the fund established on the Closing Date, which will be credited with the General Reserve Fund Required Amount from part of the proceeds of the Noteholders' subscription for the Class S Notes on the Closing Date;
General Reserve Fund means the fund established on the Closing Date and deposited in the GIC Account which will be funded up to the General Reserve Required Amount and which will be funded from the proceeds of the Class Z VFN Holder's subscription of the Class Z VFN; General Reserve Ledger means the ledger maintained by the Cash Manager on behalf of the Issuer which records amounts credited to the General Reserve Fund from the proceeds of the VFN Holder's funding of the Class Z VFN and thereafter from Available Revenue Receipts in accordance with the Pre-Acceleration Revenue Priority of Payments and withdrawals of the General Reserve Required Debit Amount in relation to an Interest Payment Date (if any) from the General Reserve Ledger on such Interest Payment Date; General Reserve Required Amount will be an amount equal to £[⚫] on the Closing Date (being an amount at least equal to 2 per cent. of the Current Balance of the Portfolio as at the Portfolio Creation Date) (the Initial General Reserve Required Amount), provided that if on any Calculation Date the General Reserve Amortisation Conditions are met, the General Reserve Required Amount shall be an amount equal to 2.5 per cent. of the aggregate Principal Amount Outstanding of the Class A Notes on the preceding Interest Payment Date (taking into account any redemptions of the Class A Notes on such Interest Payment Date), subject to a maximum of the Initial General Reserve Required Amount and a minimum of 1 per cent. of the Current Balance of the Portfolio as at the Portfolio Creation Date. If on any Calculation Date, any of the General Reserve Amortisation Conditions are not met, the General Reserve Required Amount shall be equal to the General Reserve Required Amount for the preceding Interest Payment Date. In each case the General Reserve Required Amount and the Initial General Reserve Required Amount will be rounded up to the nearest £1,000. Notwithstanding the foregoing, on any Interest Payment Date on which the Class A Notes are fully repaid or otherwise redeemed in full, the General Reserve Required Amount will be reduced to zero and any amounts held in the General Reserve Fund will form part of Available Revenue Receipts and will be applied in accordance with the relevant Priority of Payments;
General Reserve Fund means the general reserve funds established under the Master Indenture.
General Reserve Fund means any reserve fund established by a society out of profits and not set aside for any specific purpose;
General Reserve Fund shall have the meaning set forth in Section 7.6.1 hereof.
General Reserve Fund means a fund that is not marked for any specific purposes and it can serve as a buffer to absorb unanticipated losses which may arise from Society’s operations or investments; (w.e.f. 24/02/2021)