Reserve Event definition

Reserve Event means the occurrence of (i) a monetary Default or (ii) an EBITDAR Event.

Reserve Event has the meaning specified in the Insurance Agreement.

Reserve Event means, with respect to any payment date, the occurrence of certain portfolio performance conditions as set forth in the insurance agreement relating to the Contracts are not met. A Reserve Event will be “deemed cured” with respect to any payment date when certain portfolio performance conditions set forth in the insurance agreement related to the contracts are met or the insurer has waived such Reserve Event in writing.

Examples of Reserve Event in a sentence

• Following the occurrence and during the continuation of a Cash Reserve Event, the Trust shall have the right to require the Seller or the Servicer to, and upon such request the Seller or the Servicer, as applicable, shall, assemble copies of all of the Contracts and make the same available to the Backup Servicer or other third-party custodian specified by, and at a place selected by, the Trust within 30 days.

• So long as any TIFIA Reserve Event continues, funds on deposit in the TIFIA Reserve Account shall remain in such account and shall be invested only in Permitted Investments.

• Notwithstanding the foregoing, following the occurrence of a TIFIA Reserve Event, in the event that, on any Ratio Calculation Date, the Debt Service Coverage Ratio for the preceding Calculation Period falls below 1.25 to 1.00, the amount of the TIFIA Reserve Account Requirement not yet funded, if any, shall be funded by no later than the next Semi-Annual Payment Date following such occurrence.

• Reserve/Trigger Events Occurrences Deemed Cured ---------------- ---------------- Reserve Event No N/A Trigger Event No N/A Servicer Termination Event No 7.

• Additionally, Mr. Polidoro offered a resource into the Synchronized Reserve Market after he knew the resource had ended its contractual relationship with NAPP, and therefore was not prepared to respond to a Synchronized Reserve Event.

More Definitions of Reserve Event

Reserve Event shall have the meaning set forth in Section 8.2.3.1.

Reserve Event shall occur, with respect to any Payment Date, when any of:

Reserve Event means, as of the date of determination, confirmation by Bank that Liquidity is less than Thirty Million Dollars ($30,000,000.00).

Reserve Event has the meaning set forth in Section 2(c) of Schedule 3.01.

Reserve Event. Any of the following: (i) a Cash Control Event, (ii) for any 12 consecutive months, EBITDA, as evidenced by a monthly compliance certificate (as required by Section 5-5(b)) of the Lead Borrower satisfactory to the Administrative Agent, is less than $100,000,000, or (iii) the outstanding Revolving Credit Loans and L/Cs at any time exceed 80% of the Appraised Inventory Liquidation Value.

Reserve Event means, in respect of any Series, the related Excess Spread Percentage in respect of any Settlement Period being less than 5.0%.

Reserve Event shall occur with respect to the Series 202●-● Ownership Interest if, on a Reporting Day, the number, expressed as a percentage (the “Excess Spread Percentage”), equal to twelve times: