Reserve account requirements means the estimated funds that the board has determined are required to be available at a specified point in time to repair, replace, or restore those major components that the association is obligated to maintain.
Reserve account requirements means the estimated funds that the board
Reserve account requirements means the estimated
Examples of Reserve account requirements in a sentence
Reserve account requirements will be determined on a case- by-case basis, taking into consideration the reserve requirements of the other participating lenders, so that the aggregate fully funded reserve account is consistent with the requirements of §3560.65.
Reserve account requirements We also note that certain requirements contemplated by the Proposed Rule appear to provide for a U.S. transaction only and, as a result, may not work or may present significant compliance challenges for non-U.S. transactions.
More Definitions of Reserve account requirements
Reserve account requirements means and refer to the estimated Reserve Funds that the Board has determined are required to be available at a specified time. 1.44
Reserve account requirements means, on and from the Term Conversion Date, the requirement that (a)(i) the aggregate amount then available to be drawn or demanded, as applicable, under any DSR Letter of Credit, any Acceptable Letter of Credit and any Acceptable Guarantee provided, in each case, to satisfy in whole or in part, the Debt Service Reserve Requirement plus (ii) the funds then on deposit in the Debt Service Reserve Account, shall equal or exceed the then current Debt Service Reserve Requirement; (b)(i) the aggregate amount then available to be drawn or demanded, as applicable, under any Acceptable Letter of Credit and any Acceptable Guarantee provided, in each case, to satisfy in whole or in part, the O&M Reserve Requirement plus (ii) the funds then on deposit in the O&M Reserve Account, shall equal or exceed the then current O&M Reserve Requirement; (c)(i) the aggregate amount then available to be drawn or demanded, as applicable, under any Acceptable Letter of Credit and any Acceptable Guarantee provided, in each case, to satisfy in whole or in part, the Minimum Major Maintenance Reserve Requirement plus (ii) the funds then on deposit in the Major Maintenance Reserve Account, shall equal or exceed the then current Minimum Major Maintenance Reserve Amount and (d)(i) the aggregate amount then available to be drawn or demanded, as applicable, under any Acceptable Letter of Credit and any Acceptable Guarantee provided, in each case, to satisfy in whole or in part, the Supplemental Reserve Amount plus (ii) the funds then on deposit in the Supplemental Reserve Account, shall equal or exceed the then current Supplemental Reserve Amount. 52