Required Reduction definition

Required Reduction means (a) the sum of (i) eighty percent (80%) of the amount by which the Borrower's ineligible receivables is less than $1,380,000.00, plus (ii) sixty-five percent (65%) of the amount by which the Value of Borrower's ineligible inventory is less than $1,337,000.00, less (b) $100,000.00.
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Required Reduction shall have the meaning set forth in Section 4(a).
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Required Reduction means a reduction in Consumption of:
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Examples of Required Reduction in a sentence

  • In each case, the amounts of the Payments shall be reduced in the inverse order of their originally scheduled dates of payment or vesting, as applicable, and shall be so reduced only to the extent necessary to achieve the Required Reduction.

  • These are Assessing ‘‘Dangerous Climate Change’’: Required Reduction of Carbon Emissions to Protect Young People, Future Generations and Nature.

  • A number of organizations emphasized that the lack of accountability further exacerbated the cycle of violence.Human rights defenders and journalists seeking to highlight violations of human rights and humanitarian law told the Committee that the space in which they were free to operate was shrinking at an alarming rate.

  • Any Required Reduction shall be calculated based on the Pro Forma Reduction Calculation attached hereto as Exhibit L.

  • James Hansen et al., (2013) Assessing “Dangerous Climate Change”: Required Reduction of Carbon Emissions to Protect Young People, Future Generations and Nature, PLOS ONE 8, e81648, available at up to even 2oC above the preindustrial level3 likely would cause large climate change with disastrous and irreversible consequences.

  • Year Required Reduction over Baseline In June 2015, Architecture 2030 endorsed a prescriptive path developed by New Building Institute named the Advanced Buildings® New Construction Guide.

  • Your Forgiveness Amount is the lesser of (i) your loan amount, (ii) the sum of your total Payroll Costs and Non-Payroll Costs minus any Required Reduction, and (iii) your Payroll Costs divided by 0.60.

  • In each case, the amounts described in clauses first, second and third of the preceding sentence, (x) shall be reduced only to the extent of the portion thereof, if any, that is treated as contingent on the Change in Control under the regulations issued under Code section 280G, (y) shall be reduced in the inverse order of their originally scheduled dates of payments or vesting, as applicable, and (z) shall be so reduced only to the extent necessary to achieve the Required Reduction.

  • If you did not have sufficient Payroll Costs during your Covered Period, up to 40% of your forgiveness request may include eligible Non-Payroll Costs.• Tip: If you have a Required Reduction, choosing a longer Covered Period will allow you to include more eligible Payroll Costs and Non-Payroll Costs.

  • As long as the Overadvance Amount is greater than zero, with respect to each Asset Sale, the Required Reduction Amount will each be applied to immediately reduce the Overadvance Amount (and henceforth availability) as herein provided and to the extent that after reducing such Overadvance Amount outstanding extensions of credit exceed the Borrowing Base, mandatory prepayment of the Revolving Facility shall be required.


More Definitions of Required Reduction

Required Reduction has the meaning specified in Section 2.09(c).
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Required Reduction shall have the meaning set forth in Section 3.2(g). Reserve Percentage shall have the meaning set forth within the definition of LIBOR Rate.
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Required Reduction means a reduction applied to a qualifying amount payable by a QFDC in accordance with regulation 58 of the NI EBRS Regulations;
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Required Reduction shall have the meaning set forth in Section 3.2(g). Reserve Percentage shall have the meaning set forth within the definition of LIBOR Rate. Security Documents shall mean, collectively, the Pledge Agreement and the related UCC-1 Financing Statements.
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Required Reduction means the sum of (i) fifty percent (50%) of the proceeds of Borrower's pre- petition date accounts receivable that are ninety days or more past invoice date as of April 10, 1998, plus (ii) sixty-five percent (65%) of the amount by which the Value of Borrower's ineligible inventory is less than $1,000,000.00. Notwithstanding anything in the Loan Agreement, fifty percent (50%) of the proceeds of the collection of pre-petition date accounts receivable that are ninety days or more past invoice date as of April 10, 1998 shall be applied to the reduction of the Permitted Out-of-Formula Advance at the Bank's discretion.
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Related to Required Reduction

  • extended reduction means a reduction under this scheme for which a person is eligible under Part 12 (extended reductions);

  • Proposed Reduction Date has the meaning set forth in Section 1.3.

  • extended reduction period means the period for which a person is in receipt of an extended reduction in accordance with paragraph 89, 96 or 101;

  • Aggregate Reduction has the meaning specified in Section 1.3.

  • Load Reduction Event means a reduction in demand by a Member or Special Member for the purpose of participating in the PJM Interchange Energy Market.

  • Overcollateralization Reduction Amount With respect to any Distribution Date on which the Excess Overcollateralization Amount is, after taking into account all other distributions to be made on such Distribution Date, greater than zero, the Overcollateralization Reduction Amount shall be equal to the lesser of (i) the Excess Overcollateralization Amount for that Distribution Date and (ii) the Principal Remittance Amount on such Distribution Date.

  • Reduction Date has the meaning set forth in Section 20.1B.

  • Cumulative Appraisal Reduction Amount As of any date of determination by the Special Servicer, the sum of (i) all Appraisal Reduction Amounts then in effect, and (ii) with respect to any AB Modified Loan, any Collateral Deficiency Amount then in effect. The Certificate Administrator and the Master Servicer shall be entitled to conclusively rely on the Special Servicer’s calculation or determination of any Cumulative Appraisal Reduction Amount. None of the Master Servicer, the Trustee nor the Certificate Administrator shall calculate or verify any Cumulative Appraisal Reduction Amount.

  • Overadvance Amount has the meaning specified therefor in Section 2.4(f).

  • Borrowing Base Deficiency means, at any date on which the same is determined, the amount, if any, that (a) the aggregate Covered Debt Amount as of such date exceeds (b) the Borrowing Base as of such date.

  • Aggregate Overcollateralization Release Amount With respect to any Distribution Date, the lesser of (x) the aggregate of the Principal Remittance Amounts for each Mortgage Pool for such Distribution Date and (y) the amount, if any, by which (i) the Overcollateralization Amount for such date, calculated for this purpose on the basis of the assumption that 100% of the aggregate of the Principal Remittance Amounts for such Distribution Date is applied on such date in reduction of the aggregate Certificate Principal Amount of the Certificates, exceeds (ii) the Targeted Overcollateralization Amount for such Distribution Date.

  • Required Reserve Amount means, with respect to any Payment Date, the lesser of (a) 0.25% of the difference of the Aggregate Starting Principal Balance less the Yield Supplement Overcollateralization Amount as of the applicable Cutoff Date of all Receivables transferred to the Trust and (b) the Outstanding Amount of the Notes.

  • Subordination Reduction Amount With respect to any Distribution Date, an amount equal to the lesser of (a) the Excess Subordinated Amount and (b) the Net Monthly Excess Cash Flow.

  • Aggregate Borrowing Base means the aggregate amount of the U.S. Borrowing Base and the Canadian Borrowing Base; provided that the maximum amount of the Canadian Borrowing Base which may be included in the Aggregate Borrowing Base is the Canadian Sublimit.

  • Overcollateralization Increase Amount With respect to any Distribution Date, the lesser of (a) the Overcollateralization Deficiency Amount as of such Distribution Date and (b) the Net Monthly Excess Cashflow for such Distribution Date.

  • Required Reserve means, on any day during a Calculation Period, the product of (a) the greater of (i) the Required Reserve Factor Floor and (ii) the sum of the Loss Reserve, the Interest Reserve, the Dilution Reserve and the Servicing Reserve, times (b) the Net Pool Balance as of the Cut-Off Date immediately preceding such Calculation Period.

  • Appraisal Reduction Amount shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the Servicing Agreement.

  • Commitment Reduction Notice has the meaning given that term in Section 2.13.

  • Borrowing Base Deficit means, at any time of determination, the amount, if any, by which (a) the Aggregate Capital at such time, exceeds (b) the Borrowing Base at such time.

  • Borrowing Base Amount means:

  • FX Reduction Amount is defined in Section 2.1.3.

  • Appraisal Reduction Event With respect to any Serviced Loan, the earliest of (i) the date on which such Serviced Loan becomes a Modified Asset, (ii) the date on which such Serviced Loan is 60 days or more delinquent in respect of any Monthly Payment, which does not include a Balloon Payment, (iii) solely in the case of a delinquent Balloon Payment, (A) the date occurring 60 days after the date on which such Balloon Payment was due (except as described in the immediately following clause (B)) or (B) if the related Mortgagor has delivered to the Master Servicer (who shall promptly deliver a copy thereof to the Special Servicer) or the Special Servicer (who shall promptly deliver a copy thereof to the Master Servicer) a refinancing commitment acceptable to the Special Servicer prior to the date 60 days after the Balloon Payment was due, the date occurring 120 days after the date on which the Balloon Payment was due (or such shorter period beyond the date on which that Balloon Payment was due during which the refinancing is scheduled to occur), (iv) the date on which the related Mortgaged Property has become an REO Property, (v) a receiver or similar official is appointed and continues for 60 days in such capacity in respect of the related Mortgaged Property, (vi) 60 days after the related Mortgagor is subject to a bankruptcy, insolvency or similar proceedings, which, in the case of an involuntary bankruptcy, insolvency or similar proceeding, is not dismissed within those 60 days, or (vii) the date on which such Serviced Loan remains outstanding five (5) years following any extension of its maturity date pursuant to Section 3.24 of this Agreement. If an Appraisal Reduction Event occurs with respect to any Serviced Mortgage Loan that is part of a Serviced Loan Combination, then an Appraisal Reduction Event shall be deemed to have occurred with respect to the related Serviced Companion Loan(s). If an Appraisal Reduction Event occurs with respect to any Serviced Companion Loan that is part of a Serviced Loan Combination, then an Appraisal Reduction Event shall be deemed to have occurred with respect to the related Serviced Mortgage Loan and any other Serviced Companion Loan(s) included as part of that Serviced Loan Combination. No Appraisal Reduction Event may occur at any time when the aggregate Certificate Balance of all Classes of Principal Balance Certificates (other than the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-AB Certificates) has been reduced to zero. The Special Servicer shall notify the Master Servicer and the Master Servicer shall notify the Special Servicer, as applicable, promptly upon the occurrence of any of the foregoing events.

  • Required Reserve Factor Floor means, for any Calculation Period, the sum (expressed as a percentage) of (a) 28.00% plus (b) the product of the Adjusted Dilution Ratio and the Dilution Horizon Ratio, in each case, as of the immediately preceding Cut-Off Date.

  • Required Reserves at any time means the product of (x) the Net Pool Balance and (y) the greater of (I) 13.00% and (II) the sum of (a) the Yield Reserve Ratio, plus (b) the Servicing Fee Reserve Ratio, plus (c) the greater of (i) the sum of the Loss Reserve Ratio and the Dilution Reserve Ratio and (ii) the Minimum Reserve Ratio, each as in effect at such time.

  • Required Reserve Account Amount means, with respect to any Distribution Date on or after the Reserve Account Funding Date, an amount equal to (1) 0.50% of the Class A Invested Amount as of the preceding Distribution Date (after giving effect to all changes therein on such date) or (2) any other percentage (which may be 0%) of the Class A Invested Amount designated by the Transferors, provided that if such percentage is less than the percentage specified in clause (1) above, the Transferors shall have received the prior written consent of the Collateral Interest Holder and written notice from each Rating Agency that the Rating Agency Condition shall have been satisfied with respect to such designation and shall have delivered copies of each such written notice to the Servicer and the Trustee.

  • Required Availability means Excess Availability and unrestricted cash and Cash Equivalents in an amount of not less than $5,000,000.