Trust Reserve definition

Trust Reserve means a reserve sufficient to fund Trust Expenses to be established by the Trustee.‌
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Examples of Trust Reserve in a sentence

  • The Plan Administrator shall maintain the SCC Litigation Trust Reserve and shall from time to time, when requested to do so by the SCC Litigation Trustee, transfer funds from the SCC Litigation Trust Reserve to the SCC Litigation Trustee for the SCC Litigation Trust Expense Fund as the SCC Litigation Trustee deems reasonably necessary to the continued operations of the SCC Litigation Trust, up to an aggregate amount of $15 million.

  • This Court’s time is reserved for “significant” legal questions and issues of “substantial” interest.

  • Upon a determination by the SCC Litigation Trustee that no additional funds will be needed from the SCC Litigation Trust Reserve, the Plan Administrator shall allocate the remaining funds in the SCC Litigation Trust Reserve in accordance with the terms and conditions of the Plan Administration Agreement.

  • PA 94-0004 specified actual contribution amounts for fiscal years 2006 and 2007 made by the State to the Benefit Trust Reserve.

  • The Plan Administrator shall maintain the Liquidation Trust Reserve and shall from time to time, when requested to do so by the Liquidation Trustee, transfer funds from the Liquidation Trust Reserve to the Liquidation Trustee for the Liquidation Trust Expense Fund as the Liquidation Trustee deems reasonably necessary to the continued operations of the Liquidation Trust, up to an aggregate amount of $10 million.

  • Background Council delegates authority to the Chief Executive Officer annually:  To make payments from Trust, Reserve and Municipal Fund; To purchase goods and services to a value of not more than $200,000; To purchase goods and services for the Tax Office and other Government Agencies up to the value of $300,000; To purchase goods and services for Creditors where an executed agreement or legal obligation exists which has prior Council endorsement.

  • The chart below summarizes the projected gross and required employer contribution rates to the Benefit Trust Reserve.

  • On the Effective Date, the Liquidation Trust Reserve shall be transferred to, and vest in, the Liquidation Trust for purposes of funding the Liquidation Trust.

  • Where necessary, the Licensee is responsible for handling such programmes in a sensitive manner and for ensuring that it carries such classifications and/or advisories as are required by Clause 5.10 of this Code.

  • The thirdApproved by Board of Supervisors 06/03/2014and final distribution will true up the total distributions for that fiscal year and will be based on audited financial statements of the MFPFA.2.2.2 All MFP Funds received will be placed into the MFP Trust Fund.2.3 MFP Trust ReserveThe MFP Trust will include an MFP Trust Reserve.

Related to Trust Reserve

  • Interest Reserve Account As defined in Section 3.4(d).

  • 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.

  • 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 [*];

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.

  • Series Reserve Account means the Reserve Account for the Series of Bonds established in the Reserve Fund by Supplemental Indenture in an amount equal to the Series Reserve Account Requirement for such Series of Bonds.

  • Basis Risk Reserve Fund A fund created as part of the Trust Fund pursuant to Section 5.06 of this Agreement but which is not an asset of any of the REMICs.

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

  • Liquidity Reserve Account shall have the meaning set forth in Section 8.2(A)(iii).

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

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

  • Carryover Reserve Fund The separate Eligible Account created and initially maintained by the Trustee pursuant to Section 4.07 in the name of the Trustee for the benefit of the Certificateholders and designated "The Bank of New York in trust for registered Holders of CWABS, Inc., Asset-Backed Certificates, Series 2006-22". Funds in the Carryover Reserve Fund shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement.

  • Reserve Account means the account designated as such, established and maintained pursuant to Section 5.07.

  • Interest Reserve Amount has the meaning set forth in Section 5.1(d).

  • 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.

  • Servicing Reserve means, the product (expressed as a percentage) of (a) 1%, times (b) a fraction, the numerator of which is the highest Days Sales Outstanding for the most recent 12 months and the denominator of which is 360.

  • Reserve Account Funding Date means the Distribution Date which occurs not later than the earliest of (a) the Distribution Date with respect to the Monthly Period that commences not later than three months prior to the Distribution Date with respect to the first Monthly Period in the Controlled Accumulation Period, (b) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the September 2003 Monthly Period or any Monthly Period thereafter is less than 2%, the Distribution Date with respect to such Monthly Period, (c) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the March 2004 Monthly Period or any Monthly Period thereafter is less than 3%, the Distribution Date with respect to such Monthly Period and (d) such earlier Distribution Date as the Transferors may determine by written notice to the Trustee and the Servicer. For this purpose, the "Excess Spread Percentage" for any Monthly Period shall be equal to the Series Adjusted Portfolio Yield for such Monthly Period minus the Base Rate for such Monthly Period.

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

  • Sub-Servicing Account An account established by a Sub-Servicer which meets the requirements set forth in Section 3.08 and is otherwise acceptable to the Master Servicer.

  • Reserve Account Excess Amount means, with respect to any Payment Date, an amount equal to the excess, if any, of (i) the amount of cash or other immediately available funds in the Reserve Account on such Payment Date (prior to giving effect to any withdrawals therefrom relating to such Payment Date) over (ii) the Specified Reserve Balance with respect to such Payment Date.

  • Servicer Account means any account established by Servicer in connection with the servicing of the Mortgage Loans.

  • Pre-Funding Account means the account designated as the Pre-Funding Account in, and which is established and maintained pursuant to Section 7.07.

  • Reserve Accounts means the Tax Account, the Insurance Account, the Replacement Reserve Account, the Immediate Repair Account, the Leasing Reserve Account, the Excess Cash Flow Account, the Operating Expense Account, the Ground Rent Account and any other escrow account established by this Agreement or the other Loan Documents (but specifically excluding the Cash Management Account, the Restricted Account and the Debt Service Account).

  • Reserve Account Draw Amount means, for any Payment Date, an amount equal to the lesser of (a) the Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount of cash or other immediately available funds on deposit in the Reserve Account (excluding any net investment earnings) on such Payment Date; provided, however, that if such Payment Date is the Redemption Date, the “Reserve Account Draw Amount” shall mean an amount equal to the amount of cash or other immediately available funds on deposit in the Reserve Account on the Redemption Date.