Minimum Reserve Amount means USD 1,000,000.(B) If, on any Relevant Business Day during the period from, and including, the Issue Date to, but excluding, the day which is five Relevant Business Days prior to the Scheduled Maturity Date (the “Additional Reserve Amount Withdrawal Period”), the Additional Reserve Account Balance is equal to or greater than the Minimum Reserve Amount, all, but not some only, of the Noteholders exercising their rights in the same manner may on such Relevant Business Day (a “Withdrawal Request Notice Date”) give notice (a “Withdrawal Request Notice”) to the Issuer (with a copy to the Trustee and the Swap Counterparty) in the form set out in Schedule 4 to these Terms requesting the Issuer to repay to each Noteholder (an “Additional Reserve Amount Withdrawal”) an amount equal to its pro rata share of the Additional Reserve Account Balance (or specified portion thereof) as at such Withdrawal Request Notice Date as specified in the relevant Withdrawal Request Notice, which amount must be equal to or greater than the Minimum Reserve Amount and an integral multiple of USD 1,000,000 but, in any event, no greater than the then current Additional Reserve Account Balance (the “Requested Amount”). Any Withdrawal Request Notice shall be effective when given to each of the Issuer, the Trustee and the Swap Counterparty in accordance with Condition 16 (as amended by paragraph 29 below).No Withdrawal Request Notice may be withdrawn after receipt thereof by the Issuer, the Trustee and the Swap Counterparty. After delivery of a Withdrawal Request Notice, no Noteholder may transfer any Notes until after payment to the Noteholders of the relevant Requested Amount. Failure properly to complete and deliver a Withdrawal Request Notice may result in such notice being treated as null and void. Any determination as to whether (i) such notice has been properly completed and (ii) the relevant Noteholder has duly given notice, in each case in accordance with the Terms shall be made by the Swap Counterparty in its sole and absolute discretion and shall be conclusive and binding on the Issuer, the Trustee and the Noteholders.For the avoidance of doubt, Additional Reserve Amount Withdrawals may be made on more than one occasion during the Additional Reserve Amount Withdrawal Period. On the day which is five Relevant Business Days following receipt by the Issuer of Withdrawal Request Notice (the “Repayment Date”), the Issuer shall pay to each Noteholder an amount in USD equal to each ...
Minimum Reserve Amount means $[***].
Minimum Reserve Amount shall have the meaning set forth in the Pricing Letter.
Examples of Minimum Reserve Amount in a sentence
For the purpose of computing the Minimum Reserve Amount, all investments in the Reserve Account shall be valued semiannually, on each interest payment date, at then current market value.
Monies in the Reserve Account shall be used for payment of outstanding bonds of the District; and, when legally permissible to do so, monies in the Reserve Account in excess of the Minimum Reserve Amount may be used for the cost of the Improvement Project.
The next available amounts in the Special Redemption Fund must be used to make monthly transfers to the Reserve Account until there is on hand in the Reserve Account an amount equal to the Minimum Reserve Amount.
The Company may pledge its cash and U.S. Treasury obligations and other obligations backed by the full faith and credit of the United States, but only to the extent the value of such cash, U.S. Treasury obligations and other obligations backed by the full faith and credit of the United States exceed the Minimum Reserve Amount at such time.
Seller shall at all times maintain the Minimum Reserve Amount in the Reserve Account or such other amount determined by Buyer at any time and from time to time.
More Definitions of Minimum Reserve Amount
Minimum Reserve Amount means (i) at any time on or prior to the tenth anniversary of the Closing Date, an amount equal to the product of (A) $15 million and (B) the time since the Closing Date (expressed in years and quarters of a year to the end of the last preceding quarter) and (ii) after the tenth anniversary of the Closing Date, zero.
Minimum Reserve Amount means, as of any date of determination, an amount equal to the product of (a) 1.00% times (b) the Adjusted Pool Balance.
Minimum Reserve Amount means the least of the following: (i) the maximum annual debt service coming due in any future year on the Bonds and Parity Bonds then outstanding, (ii) 10% of the then outstanding principal amount of the Bonds and Parity Bonds, or(iii) 125% of the average annual debt service on the Bonds and Parity Bonds then outstanding.
Minimum Reserve Amount means an amount in cash and/or an amount available under the Liquidity Guarantee equal to SEK 12,000,000 on the Issue Date and thereafter increased by SEK 2,000,000 on each Waterfall Date until it amounts to 1.50 per cent of the total Nominal Amount plus accrued and unpaid Senior Interest (however, such amount not to be higher than SEK 30,000,000 or lower than SEK 12,000,000).
Minimum Reserve Amount means, at any time in respect of a Noteholder, an amount in SGD equal to the greater of (a) SGD 1,000,000 and (b) five per cent. of the aggregate of the Outstanding Principal Amounts of the Notes held by such Noteholder at such time.
Minimum Reserve Amount is $500,000.00.
Minimum Reserve Amount. With respect to any date of determination of the Borrowing Base, the applicable amount set forth in the table below. The Minimum Reserve Amount shall be determined by reference to the Consolidated EBITDA of Century Aluminum and its Subsidiaries for the last full fiscal quarter immediately preceding such date of determination for which the Agent has received the Compliance Certificate required by ss.9.4(d) (which shall include attached thereto the financial statements required by ss.9.4(a) and ss.9.4(b)); provided, however, that (x) for the period commencing on the Initial Closing Date and ending on the date the Lenders receive the financial statements and certificates required under ss.9.4(b) and (d) for the fiscal quarter ended March 31, 1999, the Minimum Reserve Amount shall be $10,000,000 and (y) for any period during which the Borrowers have failed to timely deliver such Compliance Certificate required by ss.9.4(d) and the financial statements and certificates required by ss.9.4(a) or (b), the Minimum Reserve Amount for any such period shall be deemed to be $20,000,000. 23 -16- Minimum Quarterly Consolidated EBITDA Reserve Amount ----------------------------- -------------- Greater than $10,000,000 $ 5,000,000 Less than or equal to $10,000,000 $10,000,000 but greater than $5,000,000 Less than or equal to $5,000,000 $15,000,000 but greater than $0 Less than or equal to $0 $20,000,000 Mortgaged Property. Any Real Estate which is subject to any Mortgage. Mortgages. The several mortgages and deeds of trust, executed and delivered from time to time by any of the Borrowers and their Subsidiaries to the Agent with respect to the fee and leasehold interests of such Borrowers and such Subsidiaries in the Real Estate and in form and substance satisfactory to the Lenders and the Agent. Multiemployer Plan. Any multiemployer plan within the meaning of ss.3(37) of ERISA maintained or contributed to by the Borrower or any ERISA Affiliate.