Purchase Reserve definition

Purchase Reserve means, at any time, the cumulative total of all deductibles and coinsurance amounts under the Policy.
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Purchase Reserve the product of the Invoice Amount with respect to an applicable Purchase Price multiplied by the Applicable Purchase Rate multiplied by the applicable Purchase Cost; provided that no provision in this Agreement shall require the payment or permit the collection of Purchase Reserve in excess of the maximum permitted by applicable law.
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Purchase Reserve is defined in Section 2.6.
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Examples of Purchase Reserve in a sentence

  • The Police Vehicle Purchase Reserve Account may not exceed$40,000 in a given fiscal year.

  • Any amounts in excess of R10 000 000 standing to the credit of the Purchase Reserve for two consecutive Payment Dates shall be added to the Redemption Amount and applied in redeeming the Notes.

  • Collection Purchase Reserve Grant in Aid and other conditional grants received specifically for the purchase of Collection items are credited to the Collection Purchase Reserve, expenditure on Collection items is debited to the Collection Purchase Reserve.

  • The use of a Collection Purchase Reserve has been agreed by the Board to help supplement the purchase of specific collection items.

  • PROPOSITION II(Transportation) Shall the Board of Education be authorized to purchase six (6) student transportation vehicles including related furnishings and equipment incidental thereto, expend therefore a total sum not to exceed $684,804 which is estimated to be the total maximum cost thereof, and pay for such buses by using $684,804 from the District’s Bus Purchase Reserve.

  • The Police Vehicle Purchase Reserve Account may not exceed $70,000 in a given fiscal year.

  • The Parks and Forests Land Purchase Reserve will have a balance of around$921,000 (at 30 June 2005).

  • Mr. Haynes gave an overview of the Reserve Policy, and described current Department reserves: Appropriated, Operating, Capital, Rate Stabilization, Department Reserve for Efficiencies and Savings, and noting there are no recommended changes in the Secondary Purchase Reserve.

  • The transaction is scheduled to close on January 8, 2014, and the ultimate amount and timing of gain recognition will be determined during the fourth quarter of the 52-week period ended February 1, 2014.On November 19, 2013, the Company announced that it would distribute $509.4 million to holders of common shares as an extraordinary cash dividend.

  • The aggregate amount of the Purchase Reserve for each of the Adjustment Loans is the "Due Diligence Reserve".


More Definitions of Purchase Reserve

Purchase Reserve means the number of Series B-2 LLC Points available for sale and transfer pursuant to the Equity Purchase Program at any time. At the Effective Time, there are 5,000 Series B-2 LLC Points in the Purchase Reserve (all of which are outstanding and held by FAID as of the Effective Time (subject to subsequent Conversion to Series A LLC Points on the fifth (5th) anniversary of the Effective Time if such LLC Points continue to be held by FAID), subject to Conversion to Series B-2 LLC Points pursuant to Section 5.9 hereof upon sale and transfer pursuant to the Equity Purchase Program).
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Purchase Reserve means the number of Program LLC Points designated as available for issuance pursuant to the Purchase Program. On the Effective Date, there are 111,400 Program LLC Points in the Purchase Reserve.
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Related to Purchase Reserve

  • Deferred Purchase Price shall have the meaning set forth in Section 2(a).

  • Adjustment Escrow Account means the escrow account established by the Escrow Agent pursuant to the Escrow Agreement for purposes of holding the Adjustment Escrow Amount and any interest or earnings accrued thereon or in respect thereof.

  • Purchase Percentage means, with respect to any Purchased Asset, the applicable Maximum Purchase Percentage specified in Schedule 1 (or as otherwise specified in the applicable Confirmation), as adjusted in accordance with Schedule 1 (or as otherwise specified in the applicable Confirmation).

  • 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.

  • Purchase Price Adjustment Escrow Amount means $500,000.

  • Purchase Price Adjustment has the meaning set forth in Section 2.6.

  • Purchase Account means the account so designated in each Purchase and Remarketing Fund.

  • Unit Purchase Price shall have the meaning ascribed to such term in Section 2.1(b).

  • True-Up Adjustment means any Annual True-Up Adjustment or Interim True-Up Adjustment, as the case may be.

  • Adjustment Escrow Fund means the Adjustment Escrow Amount deposited with the Escrow Agent, as such amount may be increased or decreased as provided in this Agreement and the Escrow Agreement, including any interest or other amounts earned thereon.

  • 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.

  • Adjusted Purchase Price has the meaning set forth in Section 2.2.

  • Payment Adjustment Date With respect to each ARM Loan, the date on which the Borrower's Monthly Payment changes in accordance with the terms of the related Mortgage Note.

  • Adjustment Escrow Amount means $1,000,000.

  • Alternate Adjusted Regular Purchase Share Limit means, with respect to a Regular Purchase made pursuant to Section 2(a) hereof, the maximum number of Purchase Shares which, taking into account the applicable per share Purchase Price therefor calculated in accordance with this Agreement, would enable the Company to deliver to the Investor, on the applicable Purchase Date for such Regular Purchase, a Regular Purchase Notice for a Purchase Amount equal to, or as closely approximating without exceeding, One Hundred Fifty Thousand Dollars ($150,000).

  • Purchase Price Per Share means $0.01 per share, as may be adjusted from time to time in accordance with Section 5 or 6.

  • Purchase Amount means the total amount being paid by the Investor on a particular Closing Date to purchase the Securities.

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

  • VWAP Purchase Price means the lesser of (i) the Closing Sale Price on the VWAP Purchase Date; or (ii) ninety-seven percent (97%) of volume weighted average price for the Common Stock traded on the Principal Market during normal trading hours on (A) the VWAP Purchase Date if the aggregate shares traded on the Principal Market on the VWAP Purchase Date have not exceeded the VWAP Purchase Share Volume Maximum and the Sale Price of Common Stock has not fallen below the VWAP Minimum Price Threshold (to be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split or other similar transaction), or (B) the portion of the VWAP Purchase Date until such time as the sooner to occur of (1) the time at which the aggregate shares traded on the Principal Market has exceeded the VWAP Purchase Share Volume Maximum, or (2) the time at which the Sale Price of Common Stock falls below the VWAP Minimum Price Threshold (to be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split or other similar transaction).

  • Optional Purchase Percentage means 5%.

  • Stock Purchase Price has the meaning set forth in Section 2 of the Subscription Agreement.

  • Market Value Adjustment means, on a given date, an amount equal to the lesser of (x) 98% and (y) a percentage determined according to the following formula: Market Value Adjustment = 98% – [(10yrCMTt – 10yrCMTlaunch) ×Duration], where 10yrCMTt = the 10-Year Treasury Constant Maturity Rate published each business day by the Board of Governors of the Federal Reserve System, or, if such rate ceases to be published, a successor rate reasonably determined by the Trustees (the “10-Year CMT”), on such repurchase date; 10yrCMTlaunch = the 10-Year CMT as of the end of the Initial Offering Period; and Duration = an estimate of the duration of the periodic interest payments of a hypothetical coupon-paying U.S. Government Security with a 25-year maturity, calculated by the Trust’s Investment Manager as of the end of the Initial Offering Period;

  • Purchase Price Percentage has the meaning assigned to such term in the Pricing Side Letter.

  • Fully Adjusted Regular Purchase Share Limit means, with respect to any reorganization, recapitalization, non-cash dividend, stock split or other similar transaction from and after the date of this Agreement, the Regular Purchase Share Limit (as defined in Section 2(a) hereof) in effect on the applicable date of determination, after giving effect to the full proportionate adjustment thereto made pursuant to Section 2(a) hereof for or in respect of such reorganization, recapitalization, non-cash dividend, stock split or other similar transaction.

  • Cash Purchase Price has the meaning set forth in Section 2.1(b).

  • Combined Purchase Price shall have the meaning ascribed to such term in Section 2.1(b).