Reserve System Clause Samples
The Reserve System clause establishes a mechanism for setting aside specific resources, funds, or assets to be used for designated purposes within an agreement. Typically, this clause outlines how reserves are created, maintained, and accessed, such as requiring a party to deposit a certain amount into a reserve account or to maintain a minimum balance for future obligations like repairs, replacements, or unforeseen expenses. Its core practical function is to ensure that sufficient resources are available to meet anticipated or unexpected needs, thereby reducing financial risk and providing assurance to all parties involved.
Reserve System. The parties have established the reserve system described below (the "Reserve").
Reserve System. The Reserve system will be on a month to month rotating basis. All Flight Attendants below the top thirty five (35) percentile in each domicile will sit reserve. A Secondary top thirty-five (35) percentile will be calculated after Primary bids close to include a one-for-one substitution for each Flight Attendant bidding down to Reserve from the Primary top thirty-five (35) percentile. A Reserve Flight Attendant who is awarded a Vacation Relief Line or Open Time line will be treated as a regular Bid Line holder for that month but the month will count toward such Flight Attendant's Reserve rotation requirement. Flight Attendants are responsible for ensuring that Scheduling has a proper contact number. There will be three (3) classifications of Reserve Flight Attendants: Ready Reserve (RR), AM (AR), and PM (PR) Reserve. Any check-ins prior to 0300 Local Time may not be assigned the first day of the Reserve block. All Reserve days built from Crew Planning must end by 0259 Local Time.
Reserve System. The Reserve system will be on a month to month rotating basis. All Flight Attendants below the top thirty five (35) percentile in each domicile will sit reserve. A Secondary top thirty-five (35) percentile will be calculated after Primary bids close to include a one-for-one substitution for each Flight Attendant bidding down to Reserve from the Primary top thirty-five (35) percentile. A Reserve Flight Attendant who is awarded a Vacation Relief Line or Open Time line will be treated as a regular Bid Line holder for that month but the month will count toward such Flight Attendant's Reserve rotation requirement. Flight Attendants are responsible for ensuring that Crew Scheduling has a proper contact number. There will be five
Reserve System. A. Reservation of Rights
(1) Each Member reserves the Rights to all Players on its Protected List during the Season and until 11:59PM Eastern Time on June 15.
(2) Members may reserve Rights to Qualified Players as provided in this Article.
(3) A Member shall only be entitled to reserve Rights to a maximum of eight (8) Qualified Players. Of these eight (8) Qualified Players, no more than four (4) of the Qualified Players shall be Veterans.
(4) A Season Ending Roster shall be finalized by each Member and shall be submitted to the League and the PHPA on or before 11:59 P.M. Eastern Time on June 15 following the End of the Season. Except as otherwise provided, no Player on a Member’s Season Ending Roster shall be traded by a Member after June 15 at 11:59 P.M. Eastern Time. At this time, all trades from the previous Season, including trades for future considerations, shall be considered final.
B. Qualifying Offers
(1) A Member secures Rights to a Qualified Player when the Member extends to that Player a Qualifying Offer in the form attached hereto as Appendix C that is received by the Player no later than 11:59 P.M. Eastern Time on June 30 following the End of the Season. The Qualifying Offer shall be sent via email by the Member to the Player’s last known email address with a copy emailed to the League, the PHPA, and to the Player’s agent of record, if any has been filed by the Player with the Member. However, failure of the Member to e- mail a copy of the Qualifying Offer to the Player’s agent shall not invalidate the Qualifying Offer. The Qualifying Offer must contain the following required terms:
i. With respect to a Player with thirty-nine (39) or fewer regular season professional games in any ECHL/PHPA recognized professional league, the Qualifying Offer must be for no less than the Player’s Previous Season’s Average Weekly Salary;
ii. With respect to a Player with forty (40) or more regular season professional games in any ECHL/PHPA recognized professional league who are not Veterans, the Qualifying Offer must be for no less than the Player’s Previous Season’s Average Weekly Salary plus five percent (5%); and
iii. With respect to Players who are Veterans, the Qualifying Offer must be for no less than the Player’s Previous Season’s Average Weekly Salary plus five percent (5%). In addition, the Player shall be entitled to either Restricted Free Agency or Unrestricted Free Agency as provided in this CBA.
iv. With respect to a Player who is a goaltender, wit...
Reserve System. In the event that the Issuer determines to use such proceeds for the purpose of buying, carrying or trading securities, whether in connection with an acquisition of another company or otherwise, the Issuer shall give the Dealer at least five business days’ prior written notice to that effect. The Issuer shall also give the Dealer prompt notice of the actual date that it commences to purchase securities with the proceeds of the Notes. Thereafter, in the event that the Dealer purchases Notes as principal and does not resell such Notes on the day of such purchase, to the extent necessary to comply with Regulation T and the interpretations thereunder, the Dealer will sell such Notes either (i) only to offerees it reasonably believes to be Qualified Institutional Buyers or to Qualified Institutional Buyers it reasonably believes are acting for other Qualified Institutional Buyers, in each case in accordance with Rule 144A or (ii) in a manner which would not cause a violation of Regulation T and the interpretations thereunder.
Reserve System. The creation and management of the Reserve System is a component of the Conservation Strategy, as described in Conservation Measure 3 in Chapter 3.
Reserve System. It is agreed that for purposes of this definition, Eurodollar Loans made hereunder shall be deemed to constitute Eurocurrency Liabilities as defined in Regulation D and to be subject to the reserve requirements of Regulation D.
Reserve System. If requested by Agent, each Credit Party will furnish to Agent and each Lender a statement to the foregoing effect in conformity with the requirements of FR Form G-3 or FR Form 0-1, as applicable, referred to in Regulation U.
Reserve System. For certain specified classifications, there shall exist in the classification immediately below, (according to the promotional chart in Appendix “A”) an employee known as a reserve. There may be deletions or additions to Appendix “A” if operating conditions so warrant.
Reserve System. The Reserve system will be on a month to month rotating basis. All Flight Attendants below the top thirty five (35) percentile in each domicile will sit reserve. A Secondary top thirty-five (35) percentile will be calculated after Primary bids close to include a one-for-one substitution for each Flight Attendant bidding down to Reserve from the Primary top thirty-five (35) percentile. A Reserve Flight Attendant who is awarded a Vacation Relief Line or Open Time line will be treated as a regular Bid Line holder for that month but the month will count toward such Flight Attendant's Reserve rotation requirement. Flight Attendants are responsible for ensuring that Scheduling has a proper contact number. There will be three (3) classifications of Reserve Flight Attendants: Ready Reserve (RR), AM (AR), and PM (PR) Reserve.
A. Ready Reserve (RR)
1. On the first day of the block, contact time for a RR Flight Attendant will be two (2) hours prior to the first scheduled check-in in her/his domicile until 2400 hours that day. On subsequent days of the reserve block, the Ready Reserve will be available on a twenty-four