Warranty Reserve definition

Warranty Reserve means the value of funds specified in these T&Cs that is held (blocked) by Genome on a separate subaccount of Your Genome Wallet, can be used to cover Your outstanding fees, charges and other financial liabilities, as detailed in Clause 5.9 below, and shall be released at the time of the Agreement termination and closure of Your Genome Wallet.

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Warranty Reserve means a reserve equal to one quarter of the Borrower’s annual warranty expense as set forth on its general ledger.

Warranty Reserve means a reserve established by the Administrative Agent in its reasonable discretion against the principal balance of Receivables of the Loan Parties which represents 60 days of average warranty claims, as determined by the Administrative Agent in connection with its quarterly review.

Examples of Warranty Reserve in a sentence

Any Payables, Accrued Vacation Pay or Warranty Reserve outstanding on the Closing Date.
The Members agree and acknowledge that the Aggregate Navistar Standard Warranty Reserve will change over time based upon, among other things, (a) the ongoing satisfaction of Standard Warranty claims with respect to the applicable trucks and parts and (b) based upon the experience of Navistar and the Company with respect to clause (a), changes in the Members’ expectations regarding the amount of costs to be incurred in the future to satisfy Standard Warranty claims with respect to such trucks and parts.
These costs for warranty repairs performed directly by CM/GC, Architect and Risk Pool Consultants will be charged to the Warranty Reserve established by the initial Core Group at Substantial Completion.
With respect to each adjustment to be made to the Aggregate Navistar Standard Warranty Reserve, (i) Navistar shall provide Caterpillar and the Company with a statement setting forth the amount of the proposed adjustment and the back-up materials justifying such proposed adjustment, and (ii) the Members shall use their commercially reasonable efforts to agree upon, through Majority Consent of the Board, the amount of the adjustment to the Aggregate Navistar Standard Warranty Reserve.
In the event Parent or the Surviving Corporation receives written notice of a third-party claim (a “Third Party Claim”) that Parent reasonably expects may result in a demand against the Warranty Reserve, Parent shall provide the Shareholder Agent with prompt written notice thereof.

More Definitions of Warranty Reserve

Warranty Reserve shall have the meaning specified in Subsection 1.3.3 hereof.

Warranty Reserve means, as of any date of determination, the amount of reserves that Parent has recorded in its books as of such date, in accordance with GAAP, in respect of actual or estimated warranty claims relating to products or services provided by Parent and its Subsidiaries.

Warranty Reserve means the warranty reserve accrued by Seller included in account 2001-275 (Warranty Reserve) on the Seller Balance Sheet or Seller’s Books and Records to the extent such warranty reserve has been included therein in conformity with GAAP applied on a basis consistent with the Reference Balance Sheet.

Warranty Reserve means, at any time, the greater of (i) the product of (a) 1.5 and (b) a fraction, the numerator of which is the average of the Warranty Accruals during each of the three (3) months then most recently ended, and the denominator of which is the average of the cumulative sales of the Originators during each of the three (3) months then most recently ended and (c) the cumulative sales of the Originators during the month most recently ended and (ii) the amount of Warranty Accruals during the month then most recently ended.

Warranty Reserve a reserve established by Agent in its Credit Judgment in respect of future watch repairs.

Warranty Reserve means the amount set forth as warranty reserve on the Adjusted Balance Sheet as a reserve for Warranty Claims arising from goods or services of the Company sold and delivered on or prior to the date of the Adjusted Balance Sheet.

Warranty Reserve means the reserves for warranty obligations and returns and allowances totalling $15,000, to be reflected on the Closing Statement.