Refundable Reserve definition

Refundable Reserve means for any Month End:
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Refundable Reserve means for any Reconciliation Date:
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Refundable Reserve means, for any month end, the sum of (i) the total of the Cash Reserves as to all Financed Receivables as of such month end, plus (ii) the amount of Collections received by Bank during such month with respect to Accounts other than Financed Receivables and not previously remitted to Borrower, minus (iii) the total of all outstanding Fees, Adjustments, any overadvanced amount, Bank Expenses, and all Collections received by Borrower that were not in compliance remitted to Bank pursuant to Section 2.1(a)(v). The Refundable Reserve is a book balance maintained on the records of Bank (and not a segregated fund, or the property of Borrower).
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Examples of Refundable Reserve in a sentence

  • If no Default has occurred and is continuing, Lender agrees to credit the Refundable Reserve with the amount of Collections it receives with respect to Receivables other than Financed Receivables; provided that upon the occurrence and during the continuance of any Default, Lender may apply all Collections to the Obligations in such order and manner as Lender may determine.

  • If the Refundable Reserve is negative, Borrower shall immediately pay such amount in the same manner as set forth in Section 3.3 for Overadvances.

  • Lender may deduct the accrued Finance Charges in calculating the Refundable Reserve.

  • Unless a Default has occurred and is continuing, Lender shall refund to Borrower after each Month End, the Refundable Reserve, if positive, calculated for such Month End, subject to Lender’s rights under Section 3.3 and Lender’s rights of offset and recoupment.

  • If the Refundable Reserve is negative, Borrower shall immediately pay such amount in the same manner as set forth in Section 4.3 for Overadvances.

  • If the Refundable Reserve for such period is negative, Borrower shall immediately pay such amount in the same manner as set forth in Section 3.3 for Overadvances.

  • Unless a Default has occurred and is continuing, Lender will refund the Refundable Reserve if positive, calculated for the applicable Month End or week end, to Borrower (i) if Borrower requests for any week, within 5 business days after Friday of that week, provided that Lender, in its sole discretion, may hold the Refundable Reserve, or (ii) each Month End otherwise, subject in either case to Lender’s rights under Section 3.3 and Lender’s rights of offset and recoupment.

  • Lender may deduct the accrued and unpaid Finance Charges in calculating the Refundable Reserve.

  • Orbis Emerging Markets Equity Fund (Australia Registered) Refundable Reserve Fee Class (min AUD 25 million) AUD .

  • If no Event of Default has occurred and is continuing, Bank agrees to credit the Refundable Reserve with the amount of Collections it receives with respect to Accounts other than Financed Receivables; provided that upon the occurrence and during the continuance of any Event of Default, Bank may apply all Collections to the Obligations in such order and manner as Bank may determine.

Related to Refundable Reserve

  • Refundable credit means the amount of the City income tax that was paid on the non-distributed portion, if any, of a nonqualified deferred compensation plan.

  • Good Faith Deposit has the meaning given such term in Section 2.6(a) of this Agreement.

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

  • Receivable Reserves means, as of any date of determination, those reserves that Agent deems necessary or appropriate, in its Permitted Discretion and subject to Section 2.1(c), to establish and maintain (including reserves for rebates, discounts, warranty claims, and returns) with respect to the Eligible Accounts or the Maximum Revolver Amount.

  • Cash Deposit means a cash security deposit in U.S. dollars held by AT&T-21STATE.

  • Probable Reserves under SEC Industry Guide 7 means reserves for which quantity and grade and/or quality are computed from information similar to that used for proven reserves, but the sites for inspection, sampling and measurement are farther apart or are otherwise less adequately spaced. The degree of assurance, although lower than that for proven reserves, is high enough to assume continuity between points of observation.

  • Deactivation Avoidable Cost Credit means the credit paid to Generation Owners pursuant to Tariff, Part V, section 114.

  • Replacement Reserve Monthly Deposit shall have the meaning set forth in Section 7.3.1 hereof.

  • Disbursement Account means, in respect of each Tranche, the bank account set out in the most recent List of Authorised Signatories and Accounts.

  • 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.

  • Imposition Deposits are defined in Section 7(a).

  • Unapplied Non-Extension Advance means any Non-Extension Advance other than an Applied Non-Extension Advance.

  • L/C Cash Deposit Account means an interest bearing cash deposit account to be established and maintained by the Agent, over which the Agent shall have sole dominion and control, upon terms as may be satisfactory to the Agent.

  • Controlled Disbursement Account means any accounts of the Borrowers maintained with the Administrative Agent as a zero balance, cash management account pursuant to and under any agreement between a Borrower and the Administrative Agent, as modified and amended from time to time, and through which all disbursements of a Borrower, any other Loan Party and any designated Subsidiary of a Borrower are made and settled on a daily basis with no uninvested balance remaining overnight.

  • Replacement Reserve As defined in Section 9.5.1.

  • Administrative Fee is defined in Section 4.1(a).

  • Replacement Reserve Account shall have the meaning set forth in Section 7.3.1 hereof.

  • 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.

  • Reserve Account Withdrawal Amount means, with respect to any Distribution Date, the lesser of (x) any shortfall in the amount of Available Funds available to pay the amounts specified in clauses (i) through (xvii) of Section 5.7(a) (taking into account application of Available Funds to the priority of payments specified in Section 5.7(a) and ignoring any provision hereof which otherwise limits the amounts described in such clauses to the amount of funds available) and (y) the amount on deposit in the Reserve Account on such Distribution Date prior to application of amounts on deposit therein pursuant to Section 5.8.

  • L/C Cash Collateral Account means an interest bearing cash collateral account to be established and maintained by the Agent, over which the Agent shall have sole dominion and control, upon terms as may be satisfactory to the Agent.

  • avoidable costs means those costs which would not be incurred by the Licensee if he did not supply the consumers in question, including (but with due regard to the timing thereof all relevant future outlays affected by the decision to supply; and"terms"means all the terms on which a supply of gas is provided or offered, whether as respects charges, methods of payment or otherwise.

  • Reserve Account Deposit Cash or Eligible Investments having a value of at least $2,635,875.59.

  • Rent Reserve means, with respect to any store, warehouse distribution center, regional distribution center or depot where any Inventory subject to Liens arising by operation of law is located, a reserve equal to two (2) months’ rent at such store, warehouse distribution center, regional distribution center or depot.

  • Administrative Fees shall have the meaning assigned to such term in Section 2.06(b).

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

  • Administrative Charge means, with respect to any Lease, any payment (whether or not part of the fixed monthly payment) payable to the related Lessor representing a disposition fee, a late payment fee, an Extension Fee, an allocation to the related Lessee of insurance premiums, sales, personal property or excise taxes or any other similar charge.