Reserve Payments definition

Reserve Payments as defined in and pursuant to the Maxus Schedules totaling $336,952.33 USD in the aggregate as of the Execution Date, but specifically excluding (b) the Seller Retained Claims (collectively, the “Current Assets”), less (b) the current liabilities of each Company (the “Current Liabilities”), both determined as of the close of business of the Companies on the Closing Date and in each case as determined in accordance with United States generally accepted accounting principles (“GAAP”) in its preparation of the financial information provided to Sellers pursuant to Article III and excluding cash and all balances either due to or from the Sellers. A sample of such Net Working Capital calculation is set forth on Exhibit B.
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Reserve Payments has the meaning specified in Section 5.1.3(b) of the Participation Agreement.
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Reserve Payments means those payments payable by the City and YCSD pursuant to Section 4.1(b) hereof. Reserved Rights shall have the meaning assigned to that term under the Indenture. YCSD shall mean the City School District of the City of Yonkers, a school district of the State of New York, acting by and through the Board of Education of the City School District of the City of Yonkers, and any body, board, authority, agency or other governmental agency or instrumentality which shall hereafter succeed to the powers, duties, obligations and functions thereof. Series Facilities Agreement shall mean this Agreement and each other installment sale agreement or facilities lease agreement pursuant to which the Agency or any other public entity shall sell, lease or sublease Additional Facilities to the City and the YCSD and appoint the YJSCB as its agent for purposes of completion of such Additional Facilities, and the City and YCSD shall be obligated to make installment purchase payments or rental payments, as applicable, with respect to a Series of Project Bonds upon terms substantively comparable to that provided in Article IV of this Agreement. Series Indenture shall mean, collectively, the Indenture and each other indenture of trust or bond resolution pursuant to which a Series of Project Bonds shall be issued to finance all or a portion of the costs of a Project. Series License shall mean the License and each other lease or license agreement by the City and/or the YCSD to the Agency or other public entity of Additional Facilities to be financed in whole or in part with a Series of Project Bonds. Series 2021 Bonds shall mean the $[ ] School Facility Revenue Bonds (New Community School Project), Series 2021 of the Agency issued, executed, authenticated and delivered under the Indenture.
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Examples of Reserve Payments in a sentence

  • Insert items (g)-(k) below upon system implementation of the Real-Time Co-Optimization (RTC) project and renumber accordingly:] (g) Section 6.7.5.1, Regulation Up Payments and Charges; (h) Section 6.7.5.2, Regulation Down Payments and Charges; (i) Section 6.7.5.3, Responsive Reserve Payments and Charges; (j) Section 6.7.5.4, Non-Spinning Reserve Payments and Charges; and (k) Section 6.7.5.5, ERCOT Contingency Reserve Service Payments and Charges.

  • Notwithstanding anything to the contrary contained herein, in the event any Borrower Reserve Payments are deposited into the Collection Account, such Borrower Reserve Payments shall, upon written request of the Seller, be promptly transferred from the Collection Account to the Operating Account for the Seller to transfer into the appropriate escrow or reserve accounts.

  • Reserve Sys., The 2010 Federal Reserve Payments Study: Noncash Payment Trends in the United States 2006-2009 at 4-5 (Dec.

  • For example, the calculation does not take into account the costs of operating the payments system or the producer surplus from additional sales made because some purchases are more convenient, or the gains to the processors, network operators, and banks.21The total value of credit card payments was $3.16 trillion in 2015 (see the 2016 Federal Re-serve Payments Study https://www.federalreserve.gov/newsevents/press/other/ 2016-payments-study-20161222.pdf).

  • The total card spending accounted for 51% of consumption spending in 2018, according to the 2019 Federal Reserve Payments Study and data by the World Bank.6Chetty et al.

  • The 2013 Federal Reserve Payments Study, Recent and Long-Term Payment Trends in the United States: 2003-2012, Detailed Report and Updated Data Release (2014), available at https:// www.frbservices.org/files/communications/pdf/general/2013_fed_res_paymt_study_detailed_rpt.pdf.

  • Tenant shall pay or cause to be paid all FF&E Reserve Payments required pursuant to Section 5.1.2.

  • For the avoidance of doubt, the Facility Agent shall not require any direction from any Lender in order to submit a Guarantee Demand Notice in accordance with Clause 6.3 (Additional Reserve Payments).

  • On and before September 30, 2002, funds in the FF&E Reserve and all property purchased with those funds shall be the property of Landlord and all FF&E Reserve Payments shall constitute Additional Charges.

  • The Crown shall pay the Crown Claims Fluctuation Reserve Payments (PVP) and the Crown Claims Fluctuation Reserve Payments (CAEAS/ECAB) to the Trustees on or before April 1, 2018.


More Definitions of Reserve Payments

Reserve Payments means as to any Commercial Mortgage, any payments made by the related mortgagor to mortgagee or Servicer pursuant to an agreement between mortgagee and the related mortgagor for the purpose of providing reserves for the costs associated with repairs to and replacement of capital items, environmental costs and lease rollover on the related mortgaged property.
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Reserve Payments means with respect to the Development Facilities, an amount equal to that set forth in the development pro-forma approved by Developer, Manager, Tenant and Owner, and with respect to Completed Facilities, an amount equal to the greater of (iii) Seven Hundred Fifty Dollars ($750) per unit per annum or (iv) an agreed-upon amount contained in each Facility’s approved capital expenditure budget. Manager shall receive the Reserve Payments and hold the proceeds thereof for the benefit of Tenant commencing one (1) year after the Certificate of Occupancy Date for each Development Facility and one (1) month after the date hereof for Completed Facilities. The Reserve for all Facilities shall be held in the Central Account for certain expenditures, as described in greater detail in Section 5 hereof, the Pooling Agreement, and in the Management Agreements.
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Related to Reserve Payments

  • Reserve Interest Rate With respect to any Interest Determination Date, the rate per annum that the Trustee determines to be either (i) the arithmetic mean (rounded upwards if necessary to the nearest whole multiple of 1/16%) of the one-month U.S. dollar lending rates which New York City banks selected by the Trustee are quoting on the relevant Interest Determination Date to the principal London offices of leading banks in the London interbank market or (ii) in the event that the Trustee can determine no such arithmetic mean, the lowest one-month U.S. dollar lending rate which New York City banks selected by the Trustee are quoting on such Interest Determination Date to leading European banks.

  • Reserve Draw Amount shall have the meaning specified in subsection 4.12(c).

  • Monthly Debt Service Payment Amount means, for each Monthly Payment Date, an amount equal to the amount of interest which is then due on all the Components of the Loan in the aggregate for the Interest Period during which such Monthly Payment Date occurs.

  • Debt Service Reserve Fund means the fund by that name established pursuant to the Second Resolution.

  • Debt Service Reserve Fund Requirement means, with respect to the 2020 Series B Bonds and as of each determination date, an amount equal to maximum annual debt service on the 2020 Series B Bonds Outstanding from time to time and, with respect to any other Series of Bonds, the amount set forth in the Related Series Indenture.

  • C/D Reserve Percentage for any day as applied to any ABR Loan, that percentage (expressed as a decimal) which is in effect on such day, as prescribed by the Board, for determining the maximum reserve requirement for a Depositary Institution (as defined in Regulation D of the Board) in respect of new non-personal time deposits in Dollars having a maturity of 30 days or more.

  • Production Payments and Reserve Sales means the grant or transfer by the Company or a Restricted Subsidiary to any Person of a royalty, overriding royalty, net profits interest, production payment (whether volumetric or dollar denominated), partnership or other interest in Oil and Gas Properties, reserves or the right to receive all or a portion of the production or the proceeds from the sale of production attributable to such properties where the holder of such interest has recourse solely to such production or proceeds of production, subject to the obligation of the grantor or transferor to operate and maintain, or cause the subject interests to be operated and maintained, in a reasonably prudent manner or other customary standard or subject to the obligation of the grantor or transferor to indemnify for environmental, title or other matters customary in the Oil and Gas Business, including any such grants or transfers pursuant to incentive compensation programs on terms that are reasonably customary in the Oil and Gas Business for geologists, geophysicists or other providers of technical services to the Company or a Restricted Subsidiary.

  • Debt Service Reserve Account as defined in the Depositary Agreement.

  • Reserve Funds means, collectively, the Tax and Insurance Escrow Fund, the Replacement Reserve Fund, the Required Repair Fund, the Initial Renovation Reserve Fund, the Interest Reserve Fund, the General Reserve Fund, any funds on deposit in the Construction Loan Reserve Account, any Shortfall Funds and any other escrow fund established pursuant to the Loan Documents.

  • Loss Reserve Percentage means, on any date, the product of (A) 2.25 times (B) the highest average of the Default Ratios for any three consecutive calendar months during the twelve most recent calendar months times (C) the Loss Horizon Ratio.

  • Yield Reserve Percentage means at any time of determination:

  • Net WAC Rate Carryover Reserve Account The Net WAC Rate Carryover Reserve Account established and maintained pursuant to Section 4.10.

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

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

  • Reserve Fund means the account designated as such, and established and maintained pursuant to Section 4.01.

  • Debt Service Reserve Requirement means, as of any date of calculation, and for any Fiscal Year, the amount equal to the maximum Adjusted Aggregate Debt Service on Bonds in the current or any future Fiscal Year on all Bonds Outstanding; provided, however, that if, upon the issuance of a Series of Bonds, such amount would require moneys, in an amount in excess of the maximum amount permitted under the Code to be deposited therein from the proceeds of such Bonds, to be deposited therein, the Debt Service Reserve Requirement shall mean an amount equal to the sum of the Debt Service Reserve Requirement immediately preceding issuance of such Bonds and the maximum amount permitted under the Code to be deposited therein from the proceeds of such Bonds, as certified by an Authorized Representative of the Authority; provided, further, that, if (i) the payment of the Principal Installments of or interest on any Series of Bonds or portion thereof is secured by a Special Credit Facility, (ii) the payment of the Tender Option Price of any Option Bond of a Series is secured by a Special Credit Facility or (iii) the Authority has determined in a Supplemental Resolution authorizing the issuance of a Series of Bonds that such Series of Bonds will not be secured by the Common Account in the Debt Service Reserve Fund, the Supplemental Resolution authorizing such Series may specify the Debt Service Reserve Requirement, if any, for the Bonds of such Series: provided, further, that if, as a result of the expiration or termination of a Financial Guaranty, a deficiency shall be created in the Debt Service Reserve Fund, the Debt Service Reserve Requirement shall be calculated so as to exclude the amount of such deficiency and the Debt Service Reserve Requirement shall be increased in each of the five Fiscal Years after the date such deficiency was created by an amount equal twenty per centum (20%) of the aforesaid deficiency.For the purpose of calculating the Debt Service Reserve Requirement for any Variable Rate Bonds of a Series, the maximum Adjusted Debt Service on such Series shall be determined by reference to the Pro Forma Bond Issue for the Variable Rate Bonds of such Series set forth in the Supplemental Resolution authorizing such Series.

  • Lease Payments means the rental payments described in Exhibit A hereto.

  • Prime Interest Rate means the publicly quoted variable annual basic rate of interest, published from time to time by the bankers of FUNDI as being their prime rate and as certified by the auditors of FUNDI, whose appointment it shall not be necessary to prove. Details of such bankers will be provided to the Applicant when so requested in writing.

  • Interest Subsidy Payments means payments, designated as such, consisting of interest subsidies by the Department in respect of the Trust Student Loans to the Eligible Lender Trustee on behalf of the Trust in accordance with the Higher Education Act.

  • Advance Payments means the payments made by Customer in advance of delivery with respect of an Aircraft pursuant to Section 4.2 of the Purchase Agreement.

  • SOFR Reserve Percentage means, for any day, the maximum effective percentage in effect on such day, if any, as prescribed by the Board of Governors of the Federal Reserve System (or any successor) for determining the reserve requirements (including, without limitation, supplemental, marginal and emergency reserve requirements) with respect to SOFR funding.

  • Reserve Account Amount means, for any Distribution Date, the amount on deposit in and available for withdrawal from the Reserve Account on such Distribution Date (after giving effect to all deposits to and withdrawals from the Reserve Account on the preceding Distribution Date, or, in the case of the initial Distribution Date, the Closing Date), including all interest and other income (net of losses and investment expenses) earned on such amount during the preceding Collection Period.

  • Loan Payments means the amounts required to be paid by the Company in repayment of the Loan pursuant to Section 4.1 hereof.

  • Amortization Payment shall have the meaning set forth in Section 2(d).

  • Interest Reserve Amount With respect to each Mortgage Loan that is an Interest Reserve Loan (or the related successor REO Mortgage Loan), for any Distribution Date that occurs during February of any year or during January of any year that is not a leap year, an amount equal to one day’s interest accrued at the related Net Mortgage Rate on the related Stated Principal Balance as of the end of the Collection Period related to such Distribution Date, but prior to giving effect to the application of any amounts due on the Due Date occurring in such Collection Period, to the extent that a Monthly Payment is Received by the Trust with respect to such Interest Reserve Loan for the related Due Date in the same month as such Distribution Date on or before the related Master Servicer Remittance Date or a P&I Advance is made under this Agreement with respect to such Interest Reserve Loan by such Distribution Date. For purposes of calculating Interest Reserve Amounts, the Net Mortgage Rate for each Interest Reserve Loan shall be the Net Mortgage Rate in effect (including as a result of any step-up provision) under the original terms of such Interest Reserve Loan in effect as of the Closing Date, without regard to any modifications, extensions, waivers or amendments of such Interest Reserve Loan subsequent to the Closing Date (whether entered into by the applicable Master Servicer, the applicable Special Servicer, the Non-Trust Master Servicer or the Non-Trust Special Servicer or in connection with any bankruptcy, insolvency or other similar proceeding involving the related Borrower).

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];