Restructuring Reserve definition

Restructuring Reserve means a reserve against the Borrowing Base (as such term is defined in the First Lien Credit Agreement) 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 First Lien 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 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.
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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
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Examples of Restructuring Reserve in a sentence

  • Pursuant to the Demerger, the difference between the net assets & liabilities transferred is included in Restructuring Reserve (after adjusting Capital Reserve & General Reserve).

  • As a result of inter-provincial securities regulatory reform initiatives, which include New Brunswick’s participation, and which will drive a consequent loss of significant revenue to FCNB, we used most of our 2015 surplus to increase the value of the Stabilization Reserve and to establish and fund a new Restructuring Reserve.

  • Most of this expenditure related to planned reductions in staffing levels, £572,000 being funded from the Phase 2 Restructuring Reserve set up in 2009/10, and £154,000 from the Invest to Save Reserve (see Note 5.2).

  • Out of ` 1,606.31 crore received towards principal, ` 1,359 crore (FY 2003-04) was accounted as extra-ordinary income and ` 247.31 crore (FY 2004-05 to FY 2006-07) as Restructuring Reserve in the Reserve & Surplus A/c and thereafter transferred to Profit & Loss A/c, as per the guidelines conveyed by RBI.

  • The Business Restructuring Reserve Account so created would be available for setoff until the balance is available in such account.

  • The Board of Directors, at its meeting held on December 15, 2008 resolved to approach the High Court of Karnataka, Bangalore to create a Business Restructuring Reserve to be carved out from Securities Premium account in terms of a Scheme under Sec 391 / 394 of the Companies Act, whereby inter-alia, the losses on impairment of capitalized software products will be adjusted against the said Reserve.

  • Overland states that intrastate net plant is overstated by an average of $29 million as a result of an error in Pacific Bell’s Restructuring Reserve IEMR ratemaking adjustment.

  • Overland states that intrastate net plant is overstated by an average of$29 million as a result of an error in Pacific Bell’s Restructuring Reserve - IEMR ratemaking adjustment.

  • Whilst these will generate significant savings from 2010/11 onwards, the Restructuring Reserve has almost been fully utilised.

  • Restructuring Reserve – These funds are to cover the cost of redundancies and any one off costs relating to the restructure of the organisation.


More Definitions of Restructuring Reserve

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.
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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.
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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.
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Restructuring Reserve has the meaning set forth in Schedule 6.14.
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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.

  • Day-ahead Scheduling Reserves means thirty-minute reserves as defined by the ReliabilityFirst Corporation and SERC.

  • 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 all charges and expenses caused by or attributable to any restructuring, severance, relocation, consolidation, closing, integration, business optimization or transition, signing, retention or completion bonus or curtailments or modifications to pension and post-retirement employee benefit plans.

  • 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.

  • Day-ahead Scheduling Reserves Resources means synchronized and non-synchronized generation resources and Demand Resources electrically located within the PJM Region that are capable of providing Day-ahead Scheduling Reserves.

  • 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.

  • Refinancing Transactions means the transactions described under “Summary—The Refinancing Transactions” in the Offering Memorandum.

  • 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.

  • Restructuring related costs means reasonably incurred costs

  • Permitted Acquisition Indebtedness means Indebtedness (including Disqualified Stock) of the Company or any of the Restricted Subsidiaries to the extent such Indebtedness was Indebtedness: