Offset Reserve definition

Offset Reserve shall have the meaning set forth in Section 3.6 hereof.
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Offset Reserve means, with respect to all Accounts and Account Debtors (other than Self-Pay Account Debtors), the result (but not less than zero) of (a) the sum of the amounts which such Account Debtors have requested or directed any Option Care Person to pay, or as to which any such Account Debtors have notified any Option Care Person that such Account Debtors shall withhold, setoff or recoup from any Option Care Person, in respect of actual or alleged overpayments by any such Account Debtor in respect of any Account, plus (b) the aggregate amount which any Option Care Person is indebted to such Account Debtors arising from the fact that an Account Debtor, in addition to being an Account Debtor, has an additional relationship with any Option Care Person (e.g., an Option Care Person is a tenant or customer of a Person that is an Account Debtor), minus (c) the amount paid by any Option Care Person to Account Debtors described in clause (a) as a refund of the overpayments contemplated by clause (a); PROVIDED that no amount relating to a Government Account Debtor shall be included in clause (a) of this definition unless (i) such Government Account Debtor has requested payment from an Option Care Person with respect to any actual or alleged overpayment by such Government Account Debtor or (ii) such Government Account Debtor, without sending prior request for payment to an Option Care Person, is or has been withholding, setting-off or recouping from an Option Care Person in respect of any actual or alleged overpayment by such Government Account Debtor to an Option Care Person.
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Offset Reserve means, in respect of the Pool Receivables owing by any Obligor at any time, the lesser of (a) the sum of, without duplication, (i) the aggregate amount of Over/Under Payments in respect of such Obligor at such time, plus (ii) the aggregate amount of Rebates in respect of such Obligor at such time, plus (iii) the aggregate amount of Corporate Allowances in respect of such Obligor at such time, plus (iv) the aggregate amount of Advance Xxxxxxxx in respect of such Obligor at such time, plus (v) the aggregate amount of Credits In Past Due in respect of such Obligor at such time, plus (vi) the aggregate amount of all other amounts payable by any Originator or any Affiliate thereof to such Obligor, and (b) the aggregate Outstanding Balance of such Pool Receivables at such time; provided, however, that in the case of any such Obligor that owes Pool Receivables which are Canadian Dollar Receivables or UK Receivables, the aggregate amounts referred to in clause (a) above that are denominated in Canadian Dollars, Sterling or Euro shall be the Equivalent in US Dollars of such aggregate amounts.
Sample 1

Examples of Offset Reserve in a sentence

  • In the event such Receivable was sold to the Purchaser by an Other Seller, the Purchaser agrees to enforce the Other Seller's obligation to repurchase such Receivable under the terms of its agreement with such Other Seller and to cause the amount of such repurchase by the Other Seller to be deposited in the Offset Reserve Account.

  • For purposes of calculating whether the amount in the Offset Reserve Account deposited by the Servicer on behalf of the Seller (net of withdrawals required hereunder with respect to the Seller) is equal to the Specified Offset Reserve Balance, only withdrawals with respect to a Rejected Receivable sold to the Purchaser by the Seller will be deemed to be with respect to the Seller.

  • The Servicer will maintain a detailed accounting record of all deposits and withdrawals from the Offset Reserve Account including whether a withdrawal was made with respect to a Medicare/Medicaid Offset on a Receivable sold to the Purchaser by the Seller or an Other Seller.

  • The Purchaser has established and shall maintain trust accounts with the corporate trust department of the Trustee titled "NPF VI Seller Credit Reserve Account" (the "Seller Credit Reserve Account") and "NPF VI - Offset Reserve Account" (the "Offset Reserve Account").

  • The parties acknowledge that the Purchaser and the Servicer have entered into a series of agreements in substantially the form as this Agreement with other sellers of Receivables ("Other Sellers") and that the Offset Reserve Account has been established to provide liquidity to the Purchaser with respect to Rejected Receivables, whether such Receivables were sold to the Purchaser by the Seller or by Other Sellers.

  • In the event of an offset with respect to a Receivable purchased by the Purchaser from the Seller or an Other Seller and such Rejected Receivable is not repurchased by such Seller or Other Seller in the manner set forth in Section 6.3 herein, the Servicer will cause the Trustee to withdraw the Net Value of such Rejected Receivable from the Offset Reserve Account and deposit it in the Purchase Account.

  • Any amounts due to the Buyer Indemnified Parties pursuant to Section 8.2(a) shall be satisfied, subject to the limitations set forth in this Section 8 (A) in respect of Offset Claims and Non-Offset Claims, by recourse to the Offset Reserve, subject to the limitations set forth in Section 2.9(b), and (B) in respect of any Non-Offset Claims, by recourse to any Contingent Payments or Accelerated Amount, subject to the limitations set forth in Section 2.9(c).

  • In the event of an offset with respect to a receivable purchased by the Purchaser from the Seller or an Other Seller and such Rejected Receivable is not repurchased by such Seller or Other Seller in the manner set forth in Section 4.3 herein, the Servicer will cause the Trustee to withdraw the Net Value of such Rejected Receivable from the Offset Reserve Account and deposit it in the Purchase Account.

  • In the event of an offset with respect to a Receivable purchased by the Purchaser from the Seller or an Other Seller and such Rejected Receivable is not repurchased by such Seller or Other Seller in the manner set forth in Section 4.3 herein, or a comparable provision of any such other agreement, the Servicer will cause the Trustee to withdraw the Net Value of such Rejected Receivable from the Offset Reserve Account and deposit it in the Purchase Account.

  • The Purchaser has established and shall maintain trust accounts with the corporate trust department of the Trustee titled "NPF-WL - Seller Credit Reserve Account" (the "Seller Credit Reserve Account") and "NPF-WL - Offset Reserve Account" (the "Offset Reserve Account").


More Definitions of Offset Reserve

Offset Reserve means, in respect of the Billed Pool Receivables owing by any Obligor at any time, the lesser of (i) the aggregate amount of Claims of such Obligor in existence at such time and (ii) the aggregate Outstanding Balance of such Billed Pool Receivables at such time.
Sample 1
Offset Reserve means, with respect to all Accounts and Account Debtors (other than a Self-Pay Account Debtors), the result (but not less than zero) of (a) the sum of the amounts which such Account Debtors have requested or directed the Borrower to pay, or as to which any such Account Debtors have notified the Borrower that such Account Debtors shall withhold, setoff or recoup from the Borrower, in respect of actual or alleged overpayments by any such Account Debtor in respect of any Account, plus (b) the aggregate amount which the Borrower is indebted to such Account Debtors arising from the fact that an Account Debtor, in addition to being an Account Debtor, has an additional relationship with the Borrower (e.g., the Borrower is a tenant or customer of the Person that is an Account Debtor), minus (c) the amount paid by the Borrower to Account Debtors described in clause (a) as a refund of the overpayments contemplated by clause (a); provided that clauses (a) and (b) shall apply only if the aggregate amount at issue relating to any Account Debtor exceeds one hundred thousand dollars ($100,000) or if the aggregate amount at issue relating to all Account Debtors exceeds two hundred thousand dollars ($200,000).
Sample 1
Offset Reserve means, with respect to all Accounts and Account -------------- Debtors (other than Self-Pay Account Debtors), the result (but not less than zero) of (a) the sum of the amounts which such Account Debtors have requested or directed any Borrower Party to pay, or as to which any such Account Debtors have notified any Borrower Party that such Account Debtors shall withhold, setoff or recoup from any Borrower Party, in respect of actual or alleged overpayments by any such Account Debtor in respect of any Account, plus (b) the sum of the amounts due by the Borrower Parties to any Government Account Debtor relating to any "cost report" settlements, plus (c) the aggregate amount which any Borrower Party is indebted to such Account Debtors arising from the fact that an Account Debtor, in addition to being an Account Debtor, has an additional relationship with any Borrower Party (e.g., any Borrower Party is a tenant or customer of a Person that is an Account Debtor), minus (d) the amount paid by any Borrower Party to Account Debtors described in clause (a) as a refund of the overpayments contemplated by clause (a).
Sample 1
Offset Reserve means, in respect of the Pool Receivables owing by any Obligor at any time, the lesser of (a) the sum of, without duplication, (i) the aggregate amount of Over/Under Payments in respect of such Obligor at such time, plus (ii) the aggregate amount of Rebates owed by the related Originator or its Affiliates in respect of such Obligor at such time, plus (iii) the aggregate amount of Advance Bxxxxxxx in respect of such Obligor at such time, plus (iv) the aggregate amount of Credits In Past Due in respect of such Obligor at such time, plus (v) the aggregate amount of all other amounts payable by any Originator or any Affiliate thereof to such Obligor, and (b) the aggregate Outstanding Balance of such Pool Receivables at such time; provided, however, that in the case of any such Obligor that owes Pool Receivables which are Canadian Dollar Receivables, the aggregate amounts referred to in clause (a) above that are denominated in Canadian Dollars shall be the Equivalent in US Dollars of such aggregate amounts.
Sample 1
Offset Reserve means, at any time, with respect to any Obligor, the amount established by the Servicer as a reserve for offsets to the aggregate Outstanding Balance of such Obligor's Transferred Receivables as a result of liabilities owing by the Originators to such Obligor, which shall not exceed the lesser of (i) such aggregate Outstanding Balance and (ii) the aggregate amount of such liabilities.
Sample 1
Offset Reserve means, at any time, with respect to any Obligor, the amount established by the Servicer as a reserve for offsets to the aggregate Outstanding Balance of such Obligor's Transferred Receivables as a result of liabilities owed by the Originator to such Obligor, which shall not exceed the lesser of (i) such aggregate Outstanding Balance and (ii) the aggregate amount of such liabilities.
Sample 1

Related to Offset Reserve

  • FF&E Reserve means, for any Person or any Hotel Property at any time, a reserve equal to four percent (4%) of gross revenues from any Hotel Property owned by such Person or from such Hotel Property, as applicable, for the Rolling Period of the Parent most recently ended for which financial statements have been, or are required to be, delivered to the Banks hereunder.

  • 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%.

  • 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.

  • 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.

  • Aggregate Reserves means, on any date of determination, the sum of the Loss Reserve, the Dilution Reserve and the Servicing and Yield Reserve.

  • Cash Reserve means for any Financed Receivable which has been paid in full during a Monthly Period, the amount by which the amount(s) paid on such Financed Receivable exceeds the Advance made on such Financed Receivable.

  • Expense Reserve Account The trust account established pursuant to Section 10.3(d).

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

  • Net WAC Rate Carryover Reserve Account The Net WAC Rate Carryover Reserve Account established and maintained pursuant to Section 4.10.

  • Class C Reserve Account Percentage means, for any Distribution Date on which a condition in the left column of the following table was in effect on the immediately preceding Distribution Date, the percentage in the corresponding right column of the following table (or if more than one conditions were in effect on the immediately preceding Distribution Date, the largest percentage). Condition: The three-month rolling average Excess Spread Percentage is: Class C Reserve Account Percentage:

  • Carryover Reserve Fund The separate Eligible Account created and initially maintained by the Trustee pursuant to Section 4.08 in the name of the Trustee for the benefit of the Certificateholders and designated "The Bank of New York in trust for registered holders of CWABS, Inc., Asset-Backed Certificates, Series 2004-BC3". Funds in the Carryover Reserve Fund shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement and shall not be a part of any REMIC created under this Agreement.

  • Reserve Draw Amount shall have the meaning specified in subsection 4.12(c).

  • Available Reserve Account Amount means, with respect to any Distribution Date, the lesser of (a) the amount on deposit in the Reserve Account on such date (before giving effect to any deposit to be made to the Reserve Account on such date) and (b) the Required Reserve Account Amount.

  • Spinning Reserve means the ability to immediately and automatically increase generation or reduce demand in response to a fall in frequency;

  • Replacement Reserve As defined in Section 9.5.1.

  • 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.

  • 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.

  • Required Daily Deposit Target Finance Charge Amount means, for any day in a Due Period, an amount equal to the Class A Tranche Interest Allocation for the related Distribution Date; provided, however, that for purposes of determining the Required Daily Deposit Target Finance Charge Amount on any day on which the Class A Tranche Interest Allocation cannot be determined because the LIBOR Determination Date for the applicable Interest Accrual Period has not yet occurred, the Required Daily Deposit Target Finance Charge Amount shall be the Class A Tranche Interest Allocation determined based on a pro forma calculation made on the assumption that LIBOR will be LIBOR for the applicable period determined on the first day of such calendar month, multiplied by 1.25.

  • Requisite Reserve Amount As of any date with respect to any Series (or Class within such Series), the amount, if any, required to be maintained in the Reserve Account, if any, for such Series or Class as specified in or determined pursuant to the related Supplement.

  • 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.

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

  • 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.

  • SOFR Reserve Percentage means, for any day, the maximum effective percentage in effect on such day, if any, as prescribed by the Board of Governors of the Federal Reserve System (or any successor) for determining the reserve requirements (including, without limitation, supplemental, marginal and emergency reserve requirements) with respect to SOFR funding.

  • Interest Reserve Account As defined in Section 3.4(d).