Required Reserve Balance means in relation to an Interest Payment Date or a Repayment Date, the amount determined by the Lender and notified by the Lender to the Borrower in accordance with Clause 21.8 (Debt Service Reserve Account) to be equal to the aggregate of principal and/or interest payments payable by the Borrower on that Interest Payment Date or Repayment Date.
Required Reserve Balance means the average balance held in an account at a Federal Reserve Bank by or on be- half of an institution over a reserve maintenance period to satisfy the re- serve requirements of this part.
Required Reserve Balance means, in relation to an Interest Payment Date or a Repayment Date, the amount equal to the aggregate of principal and/or interest payments payable in respect of the Facility by the Borrower on that Interest Payment Date or Repayment Date (respectively).
Examples of Required Reserve Balance in a sentence
Withdrawal of funds in Reserve Account in Excess of Required Reserve Balance $ -- 11.
Withdrawal of funds in Reserve Account in Excess of Required Reserve Balance $ - 11.
However, Buyer shall never be required to withdraw the loss from the Reserve Account if such withdrawal would reduce the Reserve Account less than the Required Reserve Balance (to be set from time to time by separate agreement).
Withdrawal of funds in Reserve Account in Excess of Required Reserve Balance $ -- k.
A copy of the Revenue Smoothing Reserve table (as described in paragraph 7(c)(iv) of this letter) reflecting, among other things, the initial Required Reserve Balance amount less all transaction costs and other deductions.
More Definitions of Required Reserve Balance
Required Reserve Balance means, as of any date (a) prior to the first -------------------------- Note Payment Date, $600,000, (b) on or after the first Note Payment Date but prior to the second Note Payment Date, $800,000, (c) on or after the second Note Payment Date but prior to the third Note Payment Date, $1,000,000, (d) on or after the third Note Payment Date but prior to the fourth Note Payment Date, $1,200,000, (e) on or after the fourth Note Payment Date but prior to the fifth Note Payment Date, $1,400,000, (f) on or after the fifth Note Payment Date but prior to the sixth Note Payment Date, $1,700,000 and (g) on or after the sixth Note Payment Date, an amount equal to the aggregate amount of (1) all payments of principal of, interest on and Make-Whole Amount, if any, payable with respect to, the Notes and (2) all other amounts payable to the Collateral Agent or any Secured Party with respect to the Secured Obligations, in the case of both of the foregoing clauses (1) and (2), which are due and owing on the next succeeding Note Payment Date.
Required Reserve Balance means an amount determined by the Agent (acting reasonably) to be equal to the amount of principal and interest falling due and payable under the Facility during the Required Reserve Period, calculated on the basis of three month Interest Periods and that:
Required Reserve Balance. With respect to any Series, the balance required pursuant to the related Supplement.
Required Reserve Balance. With respect to any Payment Date, 3% of the initial Note Principal Balance.
Required Reserve Balance meansthe average balance held in an account at a Federal Reserve Bank by or on behalf of an eligible institution over a reserve maintenance period to satisfy the reserve requirements of this part.
Required Reserve Balance means, at any time, an amount equal to the aggregate amount of principal of and interest on the Loans scheduled to fall due during the period of the next three months succeeding the date of calculation.
Required Reserve Balance means, with respect to the Debt Service Reserve Account on each Quarterly Payment Date, an amount equal to the sum of (i) the amount required to be deposited in the Debt Service Reserve Account on the Closing Date pursuant to Section 4.02(b)(i), (ii) the Projected Minimum Reserve Amount for such Quarterly Payment Date and (iii) the aggregate amount of all Projected Minimum Reserve Amounts for all prior Quarterly Payment Dates that have elapsed since the Closing Date, measured at such Quarterly Payment Date and pro rated for the partial Fiscal Quarter that occurred immediately following the Closing Date.