Operating Reserves means, at any time, the value (determined in accordance with the second sentence of this definition) of all of the following assets owned by Banco Central at such time to the extent denominated in units of exchange other than Bolívares (excluding from such assets any assets which are subject to a Lien): (a) currencies other than Bolívares (excluding special drawing rights in the International Monetary Fund (the “IMF”) and all funds received from the IMF); (b) deposits and credit balances with commercial financial lending institutions, central banks of non-Venezuelan governments or multilateral lending institutions which are payable in any of the Bond Currencies or currencies that are readily convertible into any of the Bond Currencies; and (c) marketable bonds, notes, certificates of deposit and other obligations issued by commercial financial institutions, non- Venezuelan governments or multilateral lending institutions which are payable in any of the Bond Currencies or currencies that are readily convertible into any of the Bond Currencies. For the purposes of this definition: (i) the value of an amount of any currency other than Bolívares at any time is the equivalent in U.S. dollars of such amount at such time determined in accordance with the consistently applied accounting practices of Banco Central; (ii) the value of a deposit or credit balance referred to in sub-clause (b) above at any time is the equivalent in U.S. dollars of the face amount of such deposit or credit balance at such time determined in accordance with the consistently applied accounting practices of Banco Central; and (iii) the value of a bond, note, certificate of deposit or other obligation referred to in sub-clause (c) above at any time is the equivalent in U.S. dollars of the fair market value of such obligation at such time determined in accordance with the consistently applied accounting practices of Banco Central.
Operating Reserves means cash reserves of the Company held by the Company to ensure it can make future payments despite any drop in revenue. Operating Reserves shall not exceed two (“2”) months expenses determined by taking the average monthly expense for the previous 12 months.
Operating Reserves means the cash or near term cash assets owned by LIBOR and budgeted for use in the current annual budget. Short-term investments may be managed directly by LIBOR staff and or the Investment Management Consultant
Examples of Operating Reserves in a sentence
If a Supplier that is eligible to provide Operating Reserves does not submit a Day-Ahead Availability Bid for Operating Reserves, its Day-Ahead Bid shall be rejected in its entirety.
Day-Ahead Bids from Demand Side Resources offering Operating Reserves or Regulation Service shall be ISO-Committed Flexible and shall have an Energy Bid price no lower than the Monthly Net Benefit Offer Floor.
Offers to provide Regulation Service and Operating Reserves must comply with the rules set forth in Rate Schedules 3 and 4 of this ISO Services Tariff.
The ISO will continue to optimize for Energy and Operating Reserves, will recognize locational Operating Reserve requirements and Scarcity Reserve Requirements, but will set all Regulation Service schedules to zero.
Demand Side Ancillary Service Program Provider (DSASP Provider): A Customer that is eligible, pursuant to the ISO Tariff and ISO Procedures, to offer DSASP Resource(s) as Operating Reserves or Regulation Service in the Day-Ahead or Real-Time Market.
More Definitions of Operating Reserves
Operating Reserves means the combination of spinning and non-
Operating Reserves means the capability above system demand available to the AIES within 10 minutes following a supply contingency, required to provide for system regulation and local area protection and to correct for or stabilize the system in the event of contingencies, load forecasting errors and forced outages to Generating Units. Operating Reserve includes any or all of the following in any combination at a given time:
Operating Reserves means the portion of unrestricted net assets that are available for use in emergencies to sustain financial operations in the unanticipated event of significant unbudgeted increases in operating expenses and/or losses in operating revenues. This tool kit provides three definitions for operating reserves: Board-designated (recommended), undesignated (simplified, not recommended*) and available (simplest, not recommended*).
Operating Reserves means any amounts that shall be collected, accumulated, and/or held for the CFD in each Fiscal Year to provide for necessary cash flow for the first six months of each Fiscal Year, working capital to cover operation, maintenance, and service cost overruns or any unexpected expenditures, funds to cover delinquencies in the payment of Special Taxes, and a reasonable buffer to prevent large variations in annual Special Tax levies.
Operating Reserves shall have the meaning assigned to that term from time to time by the PJM.
Operating Reserves means funds set-aside to cover unexpected fluctuations in actual operating expenses. These are “Capitalized costs” if shown on the development budget or are “Replacement reserves” if shown on the AHP Operating Budget.
Operating Reserves means nonspinning reserves, provided by the Company under this Agreement, that are necessary to enable BPA either to reestablish its load/resource balance after loss of generation or transmission facilities, or to meet any of its other existing nonspinning operating reserve obligations. Operating Reserves provided under this Agreement shall not include, without limitation: (1) Stability Reserves provided by the Company in this Agreement; (2) operating reserves provided by the Company in any other contract; and (3) any other reserves that BPA has acquired under other arrangements.