Initial Reserves Sample Clauses

The 'Initial Reserves' clause defines the amount of funds or resources that must be set aside at the outset of an agreement to cover anticipated obligations or liabilities. Typically, this clause specifies how the reserve amount is calculated, who is responsible for maintaining it, and under what circumstances it may be adjusted or drawn upon. By establishing a clear initial reserve, the clause ensures that sufficient resources are available to meet future commitments, thereby reducing the risk of shortfalls and providing financial security for the parties involved.
Initial Reserves. Upon execution of this agreement, or at time of execution of a new lease, Owner shall remit to Broker the sum of $ to be deposited in the Operating and/or Reserve Accounts as an initial deposit representing the estimated disbursements to be made in the first month following the commencement of this Agreement. Owner agrees to maintain the reserve stated above at all times in the Operating and/or Reserve Account(s) to enable Broker to pay the obligations of Owner under this Agreement as they become due. Owner and Broker shall review the amount of the reserve from time to time and shall agree in writing on a new reserve. These reserve funds will be used to pay an expense related to the leasing and management of the property. If the balance of the reserve becomes less than the amount stated, Broker may deduct the applicable amount from the monthly income to bring the balance to the amount requested. The standard reserve is 300.00 per home.
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Initial Reserves. CHANGES TO RESERVES. (a) As of the date hereof, the only Reserves are as reflected on the Borrowing Base Certificate dated as of the date hereof, a specimen of which is annexed hereto as EXHIBIT 6:6-4. (b) The Administrative Agent shall provide not less than seven (7) days prior notice to the Borrowers' Representative of the establishment of any Reserve (other than those established at the execution of this Agreement) except that the following may be undertaken without such prior notice: (i) a change to the amount of a then existing Reserve (as distinguished from a change by which such Reserve is measured or determined), which change reasonably reflects changed circumstances (e.g. the amount of the Reserve for Customer Credit Liability will change based on the aggregate of Customer Credit Liability at any one time); and (ii) the creation of, or a change to an existing Reserve on account of circumstances which the Administrative Agent reasonably determines as having a material adverse change on the maintenance of loan to collateral values.
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Initial Reserves. CHANGES TO RESERVES. (a) At the execution of this Agreement, the only Reserves are as reflected on the initial Borrowing Base Certificate. (b) Reserves that may be revised, by the Agent in good faith in its reasonable business judgment: (ii) To reflect events, conditions, contingencies or risks that, as determined by the Agent in good faith in its reasonable business judgment, do or may affect any of: (B) The Collateral or any other property which secures the Liabilities.
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Initial Reserves. (a) The following are the only Reserves in effect at the execution of this Agreement: (i) Gift Certificates and Customer Credits (an Availability Reserve): 50% of the outstanding amount thereof from time to time.
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Initial Reserves. CHANGES TO RESERVES. (a) At the execution of this Agreement, the only Reserves are as reflected on the initial Borrowing Base Certificate. (b) Reserves that may be revised, by the Agent in good faith in its reasonable business judgment: (i) To reflect events, conditions, contingencies or risks that, as determined by the Agent in good faith in its reasonable business judgment, do or may affect any of: (A) The Collateral or any other property which secures the Liabilities. (B) The assets, business or prospects of any Borrower. (C) The Collateral Interests and other rights of the Agent in, or to realize upon, the Collateral (including the enforceability, perfection and priority thereof). (ii) To reflect the Agent's good faith belief in its reasonable business judgment that any collateral report or financial information furnished by or on behalf of the Borrower to the Agent is or may have been incomplete, inaccurate or misleading in any material respect. (iii) To reflect any state of facts which constitutes an Event of Default. (c) A change to a then existing Reserve may be made only with not less than seven (7) Business Days prior notice to the Lead Borrower, during which period the Agent shall afford the Borrower an opportunity to demonstrate that such Reserve is not necessary (unless the Agent determines that the Collateral would be materially and adversely affected by such delay or an Event of Default exists, in which case such Reserve may be immediately imposed), except that a change to a then existing Reserve, which change reflects changed circumstances of which the Lead Borrower has knowledge (such as a change in the aggregate of taxes then outstanding), may be made without such notice.
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Initial Reserves 
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Related to Initial Reserves

  • Mineral Reserves and Resources The estimated proven and probable mineral reserves and estimated indicated, measured and inferred mineral resources disclosed in the SSR Public Disclosure Record have been prepared and disclosed in all material respects in accordance with all applicable Laws. The information provided by SSR to the Qualified Persons in connection with the preparation of such estimates was complete and accurate in all material respects at the time such information was furnished. There has been no material reduction in the aggregate amount of estimated mineral reserves or estimated mineral resources of SSR and its subsidiaries, taken as a whole, from the amounts disclosed in the SSR Public Disclosure Record.

  • Initial Report An initial performance report no later than 30 days after FEMA has approved the first Public Assistance project.

  • PROJECT FINANCIAL RESOURCES i) Local In-kind Contributions $0 ii) Local Public Revenues $200,000 iii) Local Private Revenues iv) Other Public Revenues: $0 - ODOT/FHWA $0 - OEPA $0 - OWDA $0 - CDBG $0 - Other $0 v) OPWC Funds: - Loan Assistance $0

  • Additional Resources The WLSC may establish workgroups that include other department representatives and/or subject matter experts. These subcommittees shall conform with rules established by the WLSC.

  • Annual Operating Budget and Financial Projections Within sixty (60) days after the end of each fiscal year of Borrower Representative (and promptly and within five (5) days of any material modification thereto), an annual operating budgets, on a consolidating basis (including income statements, balance sheets and cash flow statements, by month) for the upcoming fiscal year of Borrower Representative, as approved by Borrower Representative’s Board, together with any related business forecasts used in the preparation of such annual financial projections.