Creating a Reserve Clause Samples

Creating a Reserve. Regardless of any contrary provision in the Agreement, we have the right in our sole discretion to determine that it is necessary to establish a Reserve. If we believe that we need to create a Reserve, we may immediately establish a Reserve or terminate the Agreement. We shall inform you if we establish a Reserve or terminate the Agreement. We may establish a Reserve by (i) withholding amounts from payment we otherwise would make to you under the Agreement or (ii) requiring you to deposit funds or other collateral with us. Any collateral provided pursuant to this Section 3 of the General Provisions is subject to our prior written approval. We may increase the amount of the Reserve at any time so long as the amount of the Reserve does not exceed an amount sufficient, in our reasonable judgment, to satisfy any financial exposure or risk to us under the Agreement (including Charges submitted by you for goods or services not yet received by Cardmembers and our costs of handling Disputed Charges) or to us or our Affiliates under any Other Agreement, or to Cardmembers. Upon the occurrence of an event described in Section 3.b.viii of the General Provisions, and during any continuation of such event, we may take immediate action to establish or increase the amount of any Reserve to an amount proportional to the risk covered by such event.
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Creating a Reserve. If we believe that we need to create a Reserve, we may do so immediately by: (i) withholding amounts from payments we otherwise would make to you under this Agreement; or (ii) require you to deposit funds or other collateral with us. Such amounts or funds are called a Reserve. The amount of the Reserve may change from time to time, and we will only hold an amount that we consider to be reasonable and necessary to cover our financial exposure or risk to us or our Affiliates under this or any Other Agreement. Some of the events that may cause us to establish a Reserve include: (a) your ceasing a substantial portion of, or adversely altering, your operations; (b) your selling all or substantially all of your assets or any third party acquiring 25% or more of the equity interests issued by you; (c) your suffering a material adverse change in your business; (d) your becoming insolvent; (e) our receiving a disproportionate number or amount of Disputed Charges at your Establishments; (f) our reasonable belief that you will not be able to perform your obligations under this or any Other Agreement; or (g) you become subject to any protective action by any third party with whom you have entered into an arrangement for the acceptance or processing (or both) of Other Payment Products. You agree to notify us immediately upon the occurrence of any of the events described above.
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Creating a Reserve. Regardless of any contrary provision in the Agreement, we have the right in our sole discretion to establish or increase a Reserve to cover any financial exposure or risk to us under the Agreement or for any other reason. We shall inform you if we establish or increase a Reserve; however, notice by us to you is not a condition of or requirement for taking such action. We may establish or increase the amount of a Reserve by (i) withholding amounts from payments we otherwise would make to you under the Agreement and/or (ii) requiring you to deposit funds or other collateral with us. Any collateral provided under subpart (ii) above other than cash is subject to our prior written approval, which we may grant or withhold in our sole discretion. We may hold the Reserve in our sole discretion for as long as we determine there is financial exposure or risk to us, our Affiliates and/or our Cardmembers in connection with the Agreement or any Other Agreement. You will not receive interest on funds in the Reserve. The Reserve, all funds, money, investment property and other amounts and property from time to time held therein or in connection therewith, and all interest and other earnings (if any) on any of the foregoing, all writings evidencing any of the foregoing, and all proceeds and products of any of the foregoing (collectively, the Reserve Assets) are and at all times shall remain our sole property. None of the Reserve Assets shall become your property unless and until we release them from the Reserve to you.
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Creating a Reserve. Regardless of any contrary provision in this Agreement, we have the right in our sole discretion to take security for your or any of your Affiliates’ obligations to us or any of our Affiliates, under this Agreement or any Other Agreement. In addition to the foregoing, we may at any time in our sole discretion establish or increase a reserve to be held by us in our account (the “Reserve”). In order to fund or replenish the Reserve, we may at any time in our sole discretion: (i) withhold amounts that would otherwise be owing to you under this Agreement or under any Other Agreement; or (ii) require you to provide funds to us.
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Creating a Reserve. Regardless of any contrary provision in the Agreement, we have the right in our sole discretion to determine that it is necessary to establish a Reserve. If we believe that we need to create a Reserve, we may immediately establish a Reserve or terminate the Agreement. We shall inform you if we establish a Reserve or terminate the Agreement. We may establish a Reserve by (i) withholding amounts from payment
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Creating a Reserve. Regardless of any contrary provision in this Agreement, we have the right in our sole discretion to take security for your or any of your Affiliates’ obligations to us or any of our Affiliates, under this Agreement or any Other Agreement. If we so determine, we may: (i) withhold and offset amounts from payments we otherwise would make to you under this Agreement; or (ii) require you to deposit funds with us. Such amounts or funds are called a Reserve. Other Agreement means any agreement other than this Agreement between: (i) you or any of your Affiliates; and (ii) us or any of our Affiliates.
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Creating a Reserve. Regardless of any contrary provision in this Agreement, we have the right in our sole discretion to take security for your or any of your Affiliates’ obligations to us or any of our Affiliates, under this Agreement or any Other Agreement. In addition to the foregoing, we may at any time in our sole discretion establish or increase a reserve to be held by us in our account (the “Reserve”). Furthermore, you agree that we will hold the Reserve for a minimum period of six (6) months, with discretion to extend where circumstances warrant in our sole discretion. In order to fund or replenish the Reserve, we may at any time in our sole discretion: (i) withhold amounts that would otherwise be owing to you under this Agreement or under any Other Agreement; or (ii) require you to provide additional funds to us.
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Related to Creating a Reserve

  • Reserve Duty A leave of absence will be granted to reservists for training purposes not to exceed fifteen (15) days per calendar year. Employees shall make application on the Leave of Absence Form to the Human Resources Department and shall enclose a copy of their military order. Leaves for training purposes are granted without loss of pay, but employees are encouraged to make arrangements to take these training periods during winter, spring, or summer recess.

  • Reserve Fund (a) On the Closing Date, the Seller will deposit the Reserve Fund Initial Deposit into the Reserve Fund from the net proceeds of the sale of the Notes. The Reserve Fund shall be the property of the Issuer subject to the rights of the Indenture Trustee in the Reserve Fund Property. (b) In the event that the Note Distributable Amount exceeds the sum of the amounts deposited into the Note Distribution Account pursuant to Sections 4.06(c)(v) and (vi) on each Payment Date (or, if the Reserve Fund is not maintained by the Indenture Trustee, on the related Deposit Date), the Indenture Trustee (based on information contained in the Servicer’s Certificate delivered on the related Determination Date pursuant to Section 3.10) shall cause an amount equal to the lesser of (A) the amount on deposit in the Reserve Fund and (B) the amount by which the Note Distributable Amount exceeds the sum of the amounts in the Note Distribution Account, to be deposited from the Reserve Account into the Note Distribution Account in immediately available funds in the amounts set forth in the Servicer’s Certificate for such Payment Date; provided that such amount shall be applied first, to the payment of interest due on the Notes to the extent, if any, that the amount deposited pursuant to Section 4.06(c)(v) is not sufficient to cover such payment of interest and, second, to the payment of principal of the Notes. (c) In the event that the Certificate Distributable Amount exceeds the sum of the amounts deposited into the Certificate Distribution Account pursuant to Sections 4.06(c)(vii) and (viii) on each Payment Date (or, if the Reserve Fund is not maintained by the Indenture Trustee, on the related Deposit Date), the Indenture Trustee shall cause an amount equal to the lesser of (A) the amount on deposit in the Reserve Fund and (B) the amount by which the Certificate Distributable Amount exceeds the sum of the amounts in the Certificate Distribution Account, to be deposited into the Certificate Distribution Account in immediately available funds in the amounts set forth in the Servicer’s Certificate for such Payment Date; provided that such amount shall be applied first, to the payment of interest due on the Certificates to the extent, if any, that the amount deposited pursuant to Section 4.06(c)(vii) is not sufficient to cover such payment of interest and, second, to the payment of principal of the Certificates. (d) On each Payment Date (or, if the Reserve Fund is not maintained by the Indenture Trustee, on the related Deposit Date), all interest and other income (net of losses and investment expenses) on funds on deposit in the Reserve Fund shall upon the written direction of the Servicer, be paid to the Seller to the extent that the funds therein exceed the Specified Reserve Fund Balance. Upon any distribution to the Seller of amounts in excess of the Specified Reserve Fund Balance, the Noteholders will not have any rights in, or claims to, such amounts.

  • Stock Reserve The Company shall at all times during the term of this Option Agreement reserve and keep available such number of shares of Stock as will be sufficient to satisfy the requirements of this Option Agreement.

  • Company to Reserve Common Stock The Company shall at all times reserve and keep available, free from preemptive rights, out of its authorized but unissued Common Stock, for the purpose of effecting the conversion of Securities, the full number of shares of Common Stock then issuable upon the conversion of all Outstanding Securities.

  • Replacement Reserve Fund Borrower shall pay to Lender on the Closing Date and on each Payment Date one twelfth of the amount (the "REPLACEMENT RESERVE MONTHLY DEPOSIT") reasonably estimated by Lender in its sole discretion to be due for replacements and repairs required to be made to the Property during the calendar year (collectively, the "REPLACEMENTS"), which Replacement Reserve Monthly Deposit shall be in an amount equal to no less than $0.15 per year per square foot of gross leasable area. Amounts so deposited shall hereinafter be referred to as Borrower's "REPLACEMENT RESERVE FUND" and the account in which such amounts are held shall hereinafter be referred to as Borrower's "REPLACEMENT RESERVE ACCOUNT". Lender may reassess its estimate of the amount necessary for the Replacement Reserve Fund from time to time, and may increase the monthly amounts required to be deposited into the Replacement Reserve Fund upon thirty (30) days notice to Borrower if Lender determines in its reasonable discretion that an increase is necessary to maintain the proper maintenance and operation of the Property. Any amount held in the Replacement Reserve Account and allocated for the Property shall be retained by Lender in an interest bearing account, or, at the option of Lender, in an Eligible Account at an Eligible Institution; PROVIDED, HOWEVER, that, any interest earned on said account shall accrue in said account for the benefit of Borrower, but shall remain in and constitute part of the Replacement Reserve Fund, and shall be disbursed in accordance with the terms hereof. Notwithstanding anything to the contrary in this Section 7.3, Borrower shall not be required to make Replacement Reserve Monthly Deposits, provided that: (i) no Event of Default shall have occurred; and (ii) Borrower makes all necessary Replacements and otherwise maintains the Property to Lender's satisfaction. Upon notice from Lender following: (a) an Event of Default; or (b) the failure of Borrower to make necessary Replacements or otherwise maintain the Property to Lender's satisfaction, Borrower shall begin to deposit the Replacement Reserve Monthly Deposit into the Replacement Reserve Fund beginning on the Payment Date (as defined herein) immediately following the date of such notice.