Debt Service Reserve Fund Requirement definition

Debt Service Reserve Fund Requirement means, with respect to the 2023 Series A Bonds and as of each determination date, an amount equal to maximum annual debt service on the 2023 Series A Bonds Outstanding from time to time and, with respect to any other Series of Bonds, the amount set forth in the Related Series Indenture.

Debt Service Reserve Fund Requirement means, as of a particular date of computation, and with respect to a particular issue of bonds, the amount required to be on deposit in the debt service reserve fund, which amount:

Debt Service Reserve Fund Requirement means, as of any date of calculation, the aggregate of the amounts specified as the Debt Service Reserve Fund Requirement for each Series of Bonds in the Supplemental Resolution authorizing the issuance of a Series of Bonds; provided, however, that a Supplemental Resolution may provide that the Debt Service Reserve Fund Requirement for the Series of Bonds authorized thereunder may be funded, in whole or in part, through Cash Equivalents and such method of funding shall, to the extent of such funding, be deemed to satisfy all provisions of the General Resolution with respect to the Debt Service Reserve Fund Requirement and the amounts required to be on deposit in the Debt Service Reserve Fund.

Examples of Debt Service Reserve Fund Requirement in a sentence

• If any Account in the 2011 Debt Service Reserve Fund contains less than the 2011 Debt Service Reserve Fund Requirement for such Account, the Trustee shall transfer into such Account an amount equal to the amount needed to restore the balance in such Account to the 2011 Debt Service Reserve Fund Requirement for such Account.

• If, at any time, the monies and securities in the Debt Service Reserve Fund are in excess of the Debt Service Reserve Fund Requirement, and the use or transfer of such excess is not otherwise provided for in the General Resolution, the Trustee, upon the written request of the Agency, shall transfer such excess to and deposit the same in the Revenue Fund.

• The Agency obligates and binds itself irrevocably to pay, or cause to be paid, an amount equal to the Debt Service Reserve Fund Requirement.

• Except to the extent otherwise provided in the applicable Supplemental Resolution, the application of amounts on deposit in the General Reserve Fund to any lawful use by the Agency permitted by this paragraph shall only be made if the amounts on deposit in the Debt Service Reserve Fund when valued at the lesser of par or Amortized Value, are at least equal to the Debt Service Reserve Fund Requirement.

• Any income or interest earned by, or increment to, the Debt Service Reserve Fund due to the investment thereof, shall, upon written direction of an Authorized Officer, be transferred as earned by the Trustee to the Revenue Fund, but only to the extent that any such transfer will not reduce the amount of the Debt Service Reserve Fund below the Debt Service Reserve Fund Requirement.

More Definitions of Debt Service Reserve Fund Requirement

Debt Service Reserve Fund Requirement means that amount as reasonably determined by the underwriter or placement agent for the TIF Notes with the reasonable concurrence of the City’s Financial Advisor.

Debt Service Reserve Fund Requirement means that amount as reasonably determined

Debt Service Reserve Fund Requirement means, with respect to the Initial Bonds, $0, and with respect to any additional Series of Bonds, the amount of money, if any, required to be deposited in the Debt Service Reserve Fund as provided in the Supplemental Indenture authorizing the issuance of such Series of Bonds.

Debt Service Reserve Fund Requirement means, as of any particular date of calculation, an amount equal to the aggregate of the amounts specified in each and every series resolution to be deposited in the Debt Service Reserve Fund with respect to all such series of Bonds.

Debt Service Reserve Fund Requirement means, for the 2023 Series Bonds, the aggregate of the Debt Service Reserve Fund Components described in Exhibit B attached to this Supplemental Resolution. Upon issuance of the 2023 Series Bonds, the Debt Service Reserve Fund Requirement for the 2023 Series Bonds shall be initially equal to $[ ], as reflected in said Exhibit B.

Debt Service Reserve Fund Requirement means, as of any date of determination, an amount equal to the least of: (a) Maximum Annual Debt Service with respect to the Bonds,

Debt Service Reserve Fund Requirement means, for the 2019 Series Bonds, the aggregate of the Debt Service Reserve Fund Components described in Exhibit B attached to this Supplemental Resolution. Upon issuance of the 2019 Series Bonds, the Debt Service Reserve Fund Requirement for the 2019 Series Bonds is initially equal to $ , as reflected in said Exhibit B.