Fixed Asset Reserve definition

Fixed Asset Reserve means the reserve to be established by the Partnership for fixed asset improvement and additional purposes pursuant to Section 6.1(d).
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Fixed Asset Reserve has the meaning specified in Section 7.6(b).
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Fixed Asset Reserve means, on any date of determination thereof, an amount equal to the aggregate amount of all proceeds received by Guarantor as of such date as a result of any sale, lease, transfer or disposition of any of the Guarantor's equipment or real Property.
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Examples of Fixed Asset Reserve in a sentence

  • The amount of any Receivable Reserve, Inventory and Fixed Asset Reserve, Bank Product Reserve, the Distilled Spirits Tax Reserve, the Rail Reserve, or any other Reserve established by Agent shall have a reasonable relationship to the event, condition, other circumstance, or fact that is the basis for such reserve and shall not be duplicative of any other reserve established and currently maintained.

  • Upon full and timely satisfaction of the foregoing conditions, Collateral Agent shall then reduce the Built In Fixed Asset Reserve by an amount equal to 80% of the orderly liquidation value of such Equipment contained in the appraisal.

  • Upon full and timely satisfaction of the foregoing conditions, Collateral Agent shall then reduce the Built In Fixed Asset Reserve by an amount equal to 80% of the orderly liquidation value of motor vehicles (as set forth on the Appraisals) whose certificates of title and other required documents were delivered to Collateral Agent pursuant to Section 6.11(d).

  • No later than thirty (30) days after the date of this Lease, Landlord and Tenant shall jointly conduct a physical inventory of the Equipment, making any corrections to the Fixed Asset Reserve Report as necessary, and each shall agree in writing upon a final inventory listing of Equipment.

  • The president of the Broward Teachers Union may make a direct request to the Superintendent to send a team to a specific school.

  • Upon such payment, a reserve shall automatically be created against the Maximum Revolver Amount and Individual Maximum Revolver Amount with respect to such Borrower (a "Fixed Asset Reserve") in an amount equal to such Net Proceeds.


More Definitions of Fixed Asset Reserve

Fixed Asset Reserve the aggregate amount of reserves established by Agent from time to time in its sole discretion in respect of Eligible Equipment and/or Eligible Real Estate.
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Related to Fixed Asset Reserve

  • Yield Reserve means, on any date, an amount equal to: (a) the Capital at the close of business of the Servicer on such date multiplied by (b)(i) the Yield Reserve Percentage on such date divided by (ii) 100% minus the Yield Reserve Percentage on such date.

  • FF&E Reserve shall have the meaning given such term in Section 5.1.2(a).

  • 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.

  • Availability Reserve means the sum (without duplication of any other reserves or items that are otherwise addressed or excluded through eligibility criteria (including collection rates or collection percentages)) of (a) the Rent and Charges Reserve; (b) the Bank Product Reserve; provided that reserves of the type described in this clause (b) shall be instituted only after consultation with the Lead Borrower; (c) customs duties, and other costs to release Inventory which is being imported into the United States; (d) outstanding Taxes and other governmental charges, including, ad valorem, real estate, personal property, sales, and other Taxes which have priority over the interests of the Administrative Agent in the Current Asset Collateral; (e) salaries, wages and benefits due to employees of the Borrowers which have priority over the interests of the Administrative Agent in the Current Asset Collateral; (f) Customer Credit Liabilities, (g) the Inventory Reserve, and (h) such additional reserves not otherwise addressed in clauses (a) through (g) above, in such amounts and with respect to such matters, as the Administrative Agent in its Credit Judgment may elect to establish or modify from time to time. Notwithstanding anything to the contrary in this Agreement, (i) such Availability Reserves shall not be established or changed except upon not less than three (3) Business Days’ prior written notice to the Lead Borrower, which notice shall include a reasonably detailed description of such Availability Reserve being established (during which period (a) the Administrative Agent shall, if requested, discuss any such Availability Reserve or change with the Lead Borrower and (b) the Lead Borrower shall have the opportunity to take such action as may be required so that the event, condition or matter that is the basis for such Availability Reserve or change thereto no longer exists or exists in a manner that would result in the establishment of a lower Availability Reserve or result in a lesser change thereto, in a manner and to the extent reasonably satisfactory to the Administrative Agent), (ii) the amount of any Availability Reserve established by the Administrative Agent, and any change in the amount of any Availability Reserve, shall have a reasonable relationship to the event, condition or other matter that is the basis for such Availability Reserve or such change and (iii) no event, condition or matter existing or arising prior to or on the Closing Date shall be the basis for any reserve unless such event, condition or matter shall have changed since such time in a manner that is materially adverse to the Lenders. Notwithstanding clause (i) of the preceding sentence, changes to the Availability Reserves solely for purposes of correcting mathematical or clerical errors shall not be subject to such notice period, it being understood that no Default or Event of Default shall be deemed to result therefrom, if applicable, for a period of three (3) Business Days.

  • Servicing Reserve means, the product (expressed as a percentage) of (a) 1.0%, 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.