Reserve Fund Requirement means (i) on any Payment Date other than a Payment Date described in clause (ii), an amount equal to 0.25% of the Aggregate Securitization Value of the 2015-2 Leases as of the Cutoff Date or (ii) on any Payment Date occurring on or after the date on which the Note Balance has been reduced to zero, zero.

Reserve Fund Requirement has the meaning set forth in the Indenture.

Reserve Fund Requirement. With respect to any Distribution Date, the greater of (i) the Targeted Overcollateralization Amount for such date minus the Overcollateralization Amount for such date and (ii) zero.

Examples of Reserve Fund Requirement in a sentence

Borrower shall first apply all Gross Income to Expenses of the Project, including all amounts then required to be paid under the Borrower Loan Documents and the Funding Loan Documents and the funding of all sums necessary to meet the Replacement Reserve Fund Requirement, before using or applying such Gross Income for any other purpose.
The Trustee shall promptly notify the Corporation of the results of such computation and the amount by which the amount in the Debt Service Reserve Fund exceeds or is less than the Debt Service Reserve Fund Requirement, if any.
If at any time the amount in the Debt Service Reserve Fund is not at least equal to the Debt Service Reserve Fund Requirement, the Corporation shall have no obligation to maintain or restore the Debt Service Reserve Fund to the Debt Service Reserve Fund Requirement other than as expressly provided in this Indenture.
The Borrower agrees to restore the Series B Bonds Debt Service Reserve Fund to the Series B Bonds Debt Service Reserve Fund Requirement by directing the Trustee to transfer available funds, if any, to the Series B Bonds Debt Service Reserve Fund from the Surplus Fund.
The purposes for which the 2022 Series Bonds are being issued are (i) the crediting of monies to the Bond Proceeds Account and (ii) to pay into the Debt Service Reserve Fund an amount which, together with other amounts on deposit therein, will at least equal the Debt Service Reserve Fund Requirement.

More Definitions of Reserve Fund Requirement

Reserve Fund Requirement means (i) on any Payment Date other than a Payment Date described in clause (ii), an amount equal to [____]% of the Aggregate Securitization Value of the 20[__]-[__] Leases as of the Cutoff Date or (ii) on any Payment Date occurring on or after the date on which the Note Balance has been reduced to zero, zero.

Reserve Fund Requirement means, at any time, an amount equal to the greatest amount established as such in any Supplemental Resolution, which may be expressed as a percentage of Outstanding Bonds, as a stated dollar amount, or in any other manner. In calculating the Reserve Fund Requirement, all Bonds to be redeemed or defeased by a series of Refunding Bonds shall be deemed not Outstanding as of the date of calculation.

Reserve Fund Requirement means as of any date of calculation, a sum equal to one- half of the maximum principal and interest requirements for any succeeding Bond Year on the Bonds. The Reserve Fund Requirement for any issue(s) of Additional Parity Bonds shall be defined in the ordinance(s) authorizing the issuance of such Additional Parity Bonds.

Reserve Fund Requirement means, as of any date of calculation, a sum equal to the lesser of (i) 10% of the original proceeds of the Bonds, the Outstanding Parity Bonds and the Additional Parity Bonds, calculated in accordance with applicable Internal Revenue Service regulations, (ii) the maximum principal and interest requirements for any succeeding Bond Year (ending June 1) on the Bonds, the Outstanding Parity Bonds and the Additional Parity Bonds, or

Reserve Fund Requirement means, at any time, an amount equal to (a) 0.75% of the aggregate Principal Amount of Notes then Outstanding, or (b) such other lesser or greater amount specified as the Reserve Fund Requirement in another supplemental indenture; provided, however, that in no event shall the amount on deposit be less than $500,000.

Reserve Fund Requirement means, as of any particular date of computation, the amount of money designated as the minimum capital reserve fund requirement as established by the resolution of the authority authorizing the issuance of or by the trust indenture securing any issue of bonds.