Subject Reserves definition

Subject Reserves means, as of any date, all reserves set forth on Schedule A as of such date corresponding to liabilities of a type or kind identified as Covered Liabilities, related to the Reinsured Policies, such amount as determined by the Ceding Company in accordance with the methodologies used by the Ceding Company to calculate such amounts for purposes of its financial statements prepared in accordance with CGAAP, or such other accounting standards as may be applicable during the term of this agreement, and generally consistent with past practices as of all dates without giving effect to this Agreement or as may otherwise be required to be maintained pursuant to the Insurance Companies Act (Canada) and its applicable regulations as well as any instructions, advisories or guidelines issued by OSFI, including the MCCSR Guideline.
Sample 1Sample 2Sample 3
Subject Reserves means the aggregate amount of gross reserves of AII allocable to the Covered Losses ceded by AEL, All and Technology under the Existing Quota Share Agreement, less Third Party Reinsurance Recoverables allocable to such Covered Losses, plus Commuted Reserves, in each case, calculated in accordance with GAAP, in excess of the Retention and up to the Aggregate Limit. For the avoidance of doubt, pursuant to Post­ Termination Endorsemeot No. J, All shall be responsible, and Maiden Re shall not indemnify 6 \ PH . IX3029.'000IS3 . fl 1926 v29
Sample 1Sample 2
Subject Reserves means (a) any PDP Reserves and PDNP Reserves identified by BOG or Borrower (or any Subsidiary thereof) as of the date hereof as being produced or producible in paying quantities out of wellx xxx located on the Hydrocarbon Interests owned by any of them as of the date hereof including those listed on the attached Exhibit I or (b) any PDP Reserves and PDNP Reserves identified by BOG or Borrower (or any Subsidiary thereof) following the date hereof and on or before December 31, 2000, as being produced or producible in paying quantities out of any well spudded or acquired by BOG or Borrower (or any Subsidiary thereof) on or before December 31, 2000, (c) in the event only that Borrower's Consolidated Interest Coverage Ratio calculated as of September 30, 2000 (in accordance with the Indenture), is less than 1.1 to 1.0, any PDP Reserves and PDNP Reserves identified by BOG or Borrower (or any Subsidiary thereof) following December 31, 2000 and on or before December 31, 2001, as being produced or producible in paying quantities out of any well spudded or acquired after December 31, 2000 but on or before December 31, 2001, and (d) in the cases of (a), (b) and (c), above, a sufficient interest in the Hydrocarbon Interests and Oil and Gas Properties to afford BOG or the Borrower as applicable the right, prior to giving effect to any Term ORRI Conveyance, to secure the maximum authorized share of production that is allocable to PDP Reserves and, when applicable, PDNP Reserves found in each Subject Well. Under no circumstances, and notwithstanding any provision hereof to the contrary, shall the term "Subject Reserves" include (1) any PUD Reserves or any Non-Proved Reserves or (2) any PDP Reserves and/or PDNP Reserves beneficially or legally owned (whether in a vested or contingent manner) by a third party (which is not an Affiliate of the Borrower) under or pursuant to any agreement or other matter disclosed in Exhibit H hereto, or (3) any PDP Reserves or PDNP Reserves identified by Borrower or BOG as a result of the deepening or sidetracking of a Subject Well after December 31, 2000 (in the event item (c) of the definition of Subject Reserves is not triggered) and after December 31, 2001, (in the event item (c) of the definition of Subject Reserves is triggered). Under no circumstances shall the term "Subject Reserves" include reserves that are not either producing or capable of producing (or being made in the case of PDNP Reserves to produce or capable of producing) ...
Sample 1

Examples of Subject Reserves in a sentence

  • Fraud Management and Control Policy - Draftv3 tracked (Over 7 pages)Report‌‌ Subject Reserves Policy Review - Working PartyTRIM Record No BP20/904:EF12/330-02 Prepared by Manager Investment & Commerce Reason Reserves Policy - 1.5.10 must be reviewed annually.

  • The Council is asked to consider the proposed 2016 Budget and the 2016 Capital plan C-031215-12 To: General Chiropractic CouncilFrom: Paul Ghuman, Director of Resources and Regulation Subject: Reserves PolicyDate: 3 December 2015 Purpose 1.

  • International Articles Related to this Subject: Reserves Announcement and Interest Rates:Hardouvelis(1987) provided clear evidence on the crucial question of whether markets perceive that monetary policy can affect real interest rates through open market operations.


More Definitions of Subject Reserves

Subject Reserves means the Company's proved Oil and Gas reserves
Sample 1
Subject Reserves means, collectively, the Antelope Reserves, the Xxxxxxx Xxxx Reserves and the Spring Creek Reserves.
Sample 1
Subject Reserves means LMC's indicated loss and allocated loss adjustment expense reserve, net of third party reinsurance and losses assumed from LMC Fronted Policies, for accident dates prior to December 31, 2002 for the Eagle Entities, calculated as of the Closing Date.
Sample 1

Related to Subject Reserves

  • PDP Reserves means Proven Reserves which are categorized as both "Developed" and "Producing" in the definitions promulgated by the Society of Petroleum Evaluation Engineers and the World Petroleum Congress as in effect at the time in question.

  • Replacement Reserve As defined in Section 9.5.1.

  • Required Reserves at any time means the sum of (a) the Yield Reserve, plus (b) the Servicing Fee Reserve, plus (c) the greater of (i) the sum of the Loss Reserve Ratio and the Dilution Reserve Percentage and (ii) the Minimum Percentage, each as in effect at such time, multiplied by the Net Pool Balance on such date.

  • Bank Product Reserves means all reserves which the Agent from time to time establishes in its reasonable discretion for the Bank Products then provided or outstanding.

  • Cash Management Reserves means such reserves as the Administrative Agent, from time to time, determines in its Permitted Discretion as being appropriate to reflect the reasonably anticipated liabilities and obligations of the Loan Parties with respect to Cash Management Services then provided or outstanding.

  • Bank Product Reserve means the aggregate amount of reserves established by the Administrative Agent from time to time in its Permitted Discretion in respect of Secured Bank Product Obligations.

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

  • Proved Undeveloped Reserves means Proved Reserves which are categorized as “Undeveloped” in the Definitions.

  • Interest Reserve means, for any Calculation Period, the product (expressed as a percentage) of (i) 1.5 times (ii) the Alternate Base Rate as of the immediately preceding Cut-Off Date times (iii) a fraction the numerator of which is the highest Days Sales Outstanding for the most recent 12 Calculation Periods and the denominator of which is 360.

  • Availability Reserves means, without duplication of any other Reserves or items to the extent such items are otherwise addressed or excluded through eligibility criteria, such reserves as Agent from time to time determines in its Permitted Discretion as being appropriate (a) to reflect the impediments to Agent’s ability to realize upon the Collateral, (b) to reflect claims and liabilities that Agent determines in its Permitted Discretion will need to be satisfied in connection with the realization upon the Collateral, (c) to reflect criteria, events, conditions, contingencies or risks which adversely affect any component of the Borrowing Base, or the assets, business, financial performance or financial condition of any Credit Party, or (d) to reflect that a Default or an Event of Default then exists. Without limiting the generality of the foregoing, Availability Reserves may include, in Agent’s Permitted Discretion, (but are not limited to) reserves based on: (i) Rent Reserves; (ii) customs duties, and other costs to release Inventory which is being imported into the United States of America; (iii) outstanding Taxes and other governmental charges, including, without limitation, ad valorem, real estate, personal property, sales, claims of the PBGC and other Taxes which may have priority over the interests of Agent in the Collateral; (iv) salaries, wages and benefits due to employees of any Borrower, (v) Customer Credit Liabilities, (vi) Customer Deposits, (vii) reserves for reasonably anticipated changes in the Appraised Value of Eligible Inventory between appraisals, (viii) warehousemen’s or bailee’s charges and other Permitted Liens which may have priority over the interests of Agent in the Collateral, (ix) amounts due to vendors on account of consigned goods, (x) Cash Management Reserves, (xi) Bank Products Reserves, and (xi) royalties payable in respect of licensed merchandise.

  • Activated reserve components means members of the reserve component of the uniformed services who have received a notice of intent to deploy or mobilize under Title 10 of the United States Code, Title 32 of the United States Code, or state mobilization to active duty.

  • Concentration Reserve Percentage means, at any time of determination, the largest of: (a) the sum of the five (5) largest Obligor Percentages of the Group D Obligors, (b) the sum of the three (3) largest Obligor Percentages of the Group C Obligors, (c) the sum of the two (2) largest Obligor Percentages of the Group B Obligors and (d) the largest Obligor Percentage of the Group A Obligors.

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

  • FF&E Reserve shall have the meaning given such term in Section 5.1.2(a).

  • Receivables Reserves mean such reserves as may be established from time to time by the Administrative Agent in the Administrative Agent’s Permitted Discretion with respect to the determination of the collectability in the ordinary course of Eligible Accounts Receivables, including, without limitation, reserves for dilution.

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

  • Loan Loss Reserves means funds held by the Seller to cover potential losses in connection with the mortgage loans owned in the Seller’s portfolio, including without limitation any amounts required to be maintained and held as a loan loss reserve in accordance with GAAP and any other regulatory requirement applicable to the Seller.

  • Cash Reserve means (i) at any time after the occurrence and during the continuation of a Level One Trigger, [*] of the aggregate Investment at such time and (ii) at any other time, an amount equal to 1% of the aggregate Investment at such time.

  • road reserve ’ means the area contained within the statutory width of a road, and includes roadways, shoulders and sidewalks and the airspace above such roadways, shoulders and sidewalks and all other areas within the road reserve boundary;

  • Required Reserve Factor Floor means, for any Calculation Period, the sum (expressed as a percentage) of (a) 12.5% plus (b) the product of the Adjusted Dilution Ratio and the Dilution Horizon Ratio, in each case, as of the most recent Cut-Off Date.

  • Loss Reserve means, on any date, an amount equal to: (a) the Aggregate Capital at the close of business of the Servicer on such date multiplied by (b)(i) the Loss Reserve Percentage on such date divided by (ii) 1, minus the Loss Reserve Percentage on such date.

  • Rent Reserve means, with respect to any plant, warehouse distribution center or other operating facility where any Inventory subject to landlords’ Liens or other Liens arising by operation of law is located and a Collateral Access Agreement has not been duly executed and delivered by the lessor or bailee at such location, a reserve equal to three (3) month’s rent at such plant, warehouse distribution center, or other operating facility, and such other reserve amounts that may be determined by the Administrative Agent in its reasonable discretion.

  • Aggregate Reserves means, on any date of determination, the sum of the Loss Reserve, the Yield Reserve, the Dilution Reserve and the Servicer Reserve.

  • 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.

  • free reserves means such reserves which, as per the latest audited balance sheet of a company, are available for distribution as dividend: