Restructuring Reserve definition

Restructuring Reserve means a reserve against the Borrowing Base established for the payment of the costs, expenses and liabilities associated with the Restructuring relating to items described in the Restructuring Reserve Certificate, in an original aggregate amount of $22,900,000, as reduced from time to time on a dollar for dollar basis upon delivery to the Agent of a Restructuring Reserve Certificate setting forth any payments in cash by the Credit Parties of such costs, expenses and liabilities during such period.
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Restructuring Reserve means the provision for reorganisation expenses anticipated to be in the region of $7.0 million but which will not be less than $6.0 million to be recorded by the Purchasers and the Group as part of their acquisition accounting in accordance with United States GAAP pertaining to the transaction contemplated by the Purchase Agreement.
Sample 1
Restructuring Reserve means such reserve (which shall be an Availability Reserve) as the Administrative Agent from time to time determines in its discretion as being appropriate to account for certain restructuring activities undertaken by the Loan Parties as of the Fifth Amendment Effective Date, but subject to Section 2.03(c). “Revolving Loan Borrowing Base” means, at any time of calculation, an amount equal to 42
Sample 1

Examples of Restructuring Reserve in a sentence

  • Adjusted EBITDA shall mean, for any fiscal period, the difference of (i) EBITDA for such period minus (ii) the difference of (a) the Restructuring Reserve as of the start of such period minus (b) the Restructuring Reserve as of the end of such period; provided that, with respect to any fiscal period ending on or prior to the last day of fiscal December 1997, the Restructuring Reserve as of the start of such period shall be deemed to be the lesser of (1) the actual Restructuring Reserve and (2) $6,000,000.

  • The Restructuring Reserve shall not reflect charges against it made (a) during Fiscal Year 1996 of more than $2,700,000 or (b) during Fiscal Year 1997 of more than $4,125,000 plus unused permitted charges against such reserve for Fiscal Year 1996.

  • Assets of Seller shall include sufficient cash, cash equivalents, accounts receivable and prepaid expenses (x) to satisfy the AEW Working Capital Requirement and (y) to satisfy Seller's share of the funding of the Restructuring Reserve.

  • Assets of Xxxxxx and the Xxxxxx Subsidiaries reflected on the Xxxxxx Pro Forma Balance Sheet shall include sufficient cash, cash equivalents, accounts receivable and prepaid expenses (x) to satisfy the Xxxxxx Working Capital Requirement, (y) to pay the Buyer Restructuring Costs in excess of Buyer's Pre-Closing Restructuring Costs and (z) to satisfy Buyer's share of the funding of the Restructuring Reserve.

  • In addition, Purchaser will otherwise cause the Company and Seller to pay the Sterno Restructuring Reserve Expenses as set forth on Schedule 1.1(c) as and when such expenses come due.

  • The status of the 2003, 2002, and 2001 restructuring initiatives is summarized in the following table: Restructuring Reserve Activity Original charges(1) $ — $ 65 $ 448 Acquisitions during:(2) 2003 82 — — 2002 — 186 — 2001 — — 112 82 186 112 Utilization during:(3) 2003 — (173 ) (30 ) 2002 — (68 ) (116 ) 2001 — — (352 ) — (241 ) (498 ) Other — (10 ) (62 ) Balance at December 31, 2003 $ 82 $ — $ — (1)2001 restructuring charges included $2 million related to discontinued operations.


More Definitions of Restructuring Reserve

Restructuring Reserve means as of any date of determination, a reserve in an amount equal to the amount of costs and expenses projected to be incurred by Borrowers from the Closing Date through December 31, 2010 in connection with the relocation of Borrowers’ operations from Mt. Morris, Illinois or Louisville, Colorado to Palm Coast, Florida. The Restructuring Reserve shall be reduced in an amount equal to the Restructuring Charges paid at the time such Restructuring Charges are paid and eliminated upon Borrowers providing evidence satisfactory to Agent in its reasonable discretion that no more Restructuring Charges will be incurred and so long as any such Restructuring Charges are not increased.
Sample 1
Restructuring Reserve means a $1,500,000 restructuring reserve on the Closing Date that will be reduced quarterly to an amount equal to the lesser of (i) $1,500,000 and (ii) the accrued but unpaid scheduled restructuring payments by Borrower.
Sample 1
Restructuring Reserve has the meaning set forth in Schedule 6.14.
Sample 1
Restructuring Reserve means the reserve for restructuring costs at Nexans Facilities reflected in the liabilities in the Nexans Closing Balance Sheet, which reserve was approximately €2 million as of December 21, 2004 and has been and will be reduced to the extent used prior to the Closing.
Sample 1

Related to Restructuring Reserve

  • Restructuring Date means the date on which a Restructuring is legally effective in accordance with the terms of the documentation governing such Restructuring.

  • Permitted Restructuring means the completion of: (a) an offer made by, or on behalf of, an Eligible Company to all (or as nearly as may be practicable all) of the shareholders of the Issuer (or, if the Issuer is not then the Ultimate Owner, to the shareholders of the then Ultimate Owner) to acquire the whole (or as nearly as may be practicable the whole) of the issued ordinary share capital of the Issuer (or, if the Issuer is not then the Ultimate Owner, the then Ultimate Owner’s issued ordinary share capital) other than those already held by or on behalf of such Eligible Company; or (b) a reorganisation or restructuring whether by way of a scheme of arrangement or otherwise pursuant to which an Eligible Company acquires all (or as nearly as may be practicable all) of the issued ordinary share capital of the Issuer (or, if the Issuer is not then the Ultimate Owner, the then Ultimate Owner’s issued share capital) other than those already held by such Eligible Company or pursuant to which all (or as nearly as may be practicable all) of the issued ordinary share capital of the Issuer (or if the Issuer is not then the Ultimate Owner, the then Ultimate Owner’s issued capital) not held by the New Holding Company is cancelled;

  • Restructuring Period means, whether or not there are Rated Securities at the time a Restructuring Event occurs, the period of 45 days starting from and including the day on which that Restructuring Event occurs.

  • Restructuring Plan means the Restructuring Plan attached hereto as Schedule 1.1.

  • Restructuring Transactions means the transactions described in Article IV.B of the Plan.

  • Pre-Closing Restructuring has the meaning specified in Section 6.14(a).

  • Restructuring Costs means the costs, including both direct and indirect, of restructuring activities. Restructuring costs that may be allowed include, but are not limited to, severance pay for employees, early retirement incentive payments for employees, employee retraining costs, relocation expense for retained employees, and relocation and rearrangement of plant and equipment. For purposes of this definition, if restructuring costs associated with external restructuring activities allocated to DoD contracts are less than $2.5 million, the costs shall not be subject to the audit, review, and determination requirements of paragraph (c)(4) of this subsection; instead, the normal rules for determining cost allowability in accordance with FAR Part 31 shall apply.

  • Operating Reserve means generation capacity or load reduction capacity which can be called upon on short notice by either Party to replace scheduled energy supply which is unavailable as a result of an unexpected outage or to augment scheduled energy as a result of unexpected demand or other contingencies.

  • Restructuring Transaction means a tax free distribution under section 355 of the internal revenue code and includes tax free transactions under section 355 of the internal revenue code that are commonly referred to as spin offs, split ups, split offs, or type D reorganizations.

  • Restructuring Documents means, collectively, the documents and agreements (and the exhibits, schedules, annexes and supplements thereto) necessary to implement, or entered into in connection with, this Plan, including, without limitation, the Plan Supplement, the Exhibits, the Plan Schedules, the Amended/New Organizational Documents, the Exit Facility Loan Documents, and the Plan Securities and Documents.

  • Spinning Reserve means the ability to immediately and automatically increase generation or reduce demand in response to a fall in frequency;

  • Replacement Reserve Agreement means a Replacement Reserve and Security Agreement, reasonably required by the Lender, and completed in accordance with the requirements of the DUS Guide.

  • Restructuring Charges means any charges or expenses in respect of restructuring or consolidating any business, operations or facilities, any compensation or headcount reduction, or any other cost savings, of any Persons or businesses either alone or together with the Company or any Restricted Subsidiary, as permitted by GAAP or Regulation S-X under the Securities Act.

  • Restructuring Loss means the loss on a modified or restructured loan measured by the difference between (a) the principal, Accrued Interest, tax and insurance advances, third party or other fees due on a loan prior to the modification or restructuring, and

  • Restructuring has the meaning set forth in the Recitals.

  • Capital Expenditure Reserve means, on an annual basis, an amount equal to $0.15 per square foot for each property owned by a Borrower or the Parent (or a Subsidiary thereof).

  • Replacement Reserve As defined in Section 9.5.1.

  • Maintenance Capital Expenditures means cash expenditures (including expenditures for the addition or improvement to the capital assets owned by any Group Member or for the acquisition of existing, or the construction of new, capital assets) if such expenditures are made to maintain, including over the long term, the operating capacity or revenues of the Partnership Group.

  • Cash Reserve means for any Financed Receivable which has been paid in full during a Monthly Period, the amount by which the amount(s) paid on such Financed Receivable exceeds the Advance made on such Financed Receivable.

  • Restructuring Event means the occurrence of any one or more of the following events:

  • Performing Cash Pay Mezzanine Investments means Mezzanine Investments (a) as to which, at the time of determination, not less than 2/3rds of the interest (including accretions and “pay-in-kind” interest) for the current monthly, quarterly, semi-annual or annual period (as applicable) is payable in cash and (b) which are Performing.

  • Net Financing Proceeds means the cash proceeds received by the Partnership in connection with any borrowing by or on behalf of the Partnership (whether or not secured), or distributed to the Partnership in respect of any such borrowing by any Subsidiary Entity, after deduction of all costs and expenses incurred by the Partnership in connection with such borrowing, and after deduction of that portion of such proceeds used to repay any other indebtedness of the Partnership, or any interest or premium thereon.