Additional Bonds Test definition

Additional Bonds Test means, for each fiscal year or part of a fiscal year, as required in Section 11(b) of this resolution, Net Revenues at least equal to 1.0 times Maximum Annual Debt Service.
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Additional Bonds Test means, for each fiscal year or part of a fiscal year, as required in Section 5(b) of this resolution, Net Revenues at least equal to 1.25 times the average Annual Debt Service for the period during which the Bonds then proposed to be issued will remain Outstanding. For purposes of this test, Net Revenues generated from Pledged Amounts (fees levied on upon all students of the University and/or other amounts specifically pledged under any Series Resolution) may be computed on the basis of student population officially enrolled on the records of the University as of the Fall quarter during which Parity Bonds are to be issued (if Parity Bonds are being issued during a Fall quarter) or immediately preceding the date of issuance of Parity Bonds. Such calculation shall be made by multiplying the number of full-time
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Additional Bonds Test has the meaning ascribed to such term in Part D of Schedule I (WIFIA Loan Specific Terms).
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Examples of Additional Bonds Test in a sentence

  • Additional Bonds Test – The County shall maintain, when issuing new GRT debt, an additional bonds test = 2.00x (debt service) computed for a period of 12 consecutive calendar months out of the preceding 18 months.

  • Recommendation for Debt Limit and Rationale Underlying BorrowerIndenture Required Additional Bonds Test PFMB recommends minimum debt service coverage level of 3.5x as a limit, because this level will allow the state flexibility to make infrastructure investments while providing a more stringent requirement than the required ABT (of 3.0x), and staying within recommended rating agency levels of 3.0x coverage.

  • While the specific formulation of the Additional Bonds Test may vary depending on the type of Revenue Bonds being contemplated, the Agency will utilize an Additional Bonds which establishes a limitation on new issuances such that the Pledged Revenues are no less than one and a half times (1.5x) the maximum annual principal and interest and debt service for the aggregate outstanding senior lien Revenue Bonds including the debt service for the new issuance.

  • Thus, there is no benefit to the DSO in seeking to issue bonds on parity with the Series 2010B Bonds.The DSO could issue the Debt on parity with the Series 2010A Bonds, except that it is currently unable to meet the Additional Bonds Test under the 2010 Indenture.

  • Because the Innovation Village Project opened for occupancy in Fall 2011, the DSO does not have a full year of historical financial information available to perform the Additional Bonds Test.

  • If not, does the County anticipate issuing any additional debt?No, but they reserve the right to issue additional debt assuming they meet the 1.35X Additional Bonds Test.

  • In particular, State debt should be structured with a focus on:• Rapid Debt Amortization.• Appropriate level of variable rate and derivative exposure.• Stringent Additional Bonds Test (revenue-backed debt).• Flow of funds (revenue-backed debt).

  • Based on the financials published by the Ministry of Finance, the resulted companies have generated a consolidated turnover of 13.3 BRON, down by 7% compared to previous year.

  • While each of the five new worker-owners bought a $6,000 membership share to join the co-op, $30,000 was hardly enough.

  • Adoption of the ‘like for like’ nutritional specification for similar service models will ensure greater consistency.


More Definitions of Additional Bonds Test

Additional Bonds Test means, as of any date of calculation, (A) Pledged Revenues are not less than 105% of Debt Service for each Bond Year in which the Bonds are scheduled to be Outstanding, and (B) the Debt Service Reserve Fund Requirement is satisfied.
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Related to Additional Bonds Test

  • Additional Bonds means the debt instruments issued under a Tap Issue, including any Temporary Bonds.

  • Series 2019 Bonds means, collectively, the Series 2019A Bonds and the Series 2019B Bonds.

  • Series 2020 Bonds means the West Virginia Hospital Finance Authority Refunding Revenue Bonds (Thomas Health System, Inc.), Series 2020 A to be issued as a combination of tax-exempt and taxable non-rated fixed rate bonds by the Issuer, subject to its authority and discretion, in the aggregate principal amount of $60,100,000, to (i) refund and retire the Series 2008 Bonds at a discount to the current par amount outstanding, (ii) fund a debt service reserve fund for the Series 2020 Bonds, (iii) fund the Operating Reserve Fund, if necessary, as described in Article IV.C.1 of the Plan and (iv) finance costs of issuance of the Series 2020 Bonds.

  • Series 2017 Bonds means, collectively, the Series 2017A Bonds and the Series 2017B Bonds.

  • Initial Bonds means the Bonds issued on the First Issue Date.

  • Additional Series Equipment Notes means Equipment Notes issued under the Indenture and designated as a Series (other than “Series AA” or “Series A”) thereunder in the principal amounts and maturities and bearing interest as specified in Schedule I to the Indenture amended at the time of original issuance of such Additional Series under the heading for such Series.

  • Covered Bonds means any and all the covered bonds (obbligazioni bancarie garantite) issued or to be issued by the Issuer pursuant to the terms and subject to the conditions of the Programme Agreement.

  • Existing Bonds means the following obligations of Seller:

  • Completion Bonds means Bonds issued pursuant to a Supplemental Indenture ranking on parity with the Series of Bonds issued under such Supplemental Indenture, the proceeds of which are to be used to complete the Project.

  • Outstanding Parity Bonds means the Outstanding Series 2010B Bonds, Series 2011A Bonds, Series 2012A Bonds, Series 2014 Bonds, Series 2015 Bonds, Series 2016 Bonds, Series 2017 Bonds, and Series 2019A Bonds.

  • Parity Bonds means bonds payable from the revenues of the System other than the Bonds but issued on a parity and equality with the Bonds pursuant to the restrictive provisions of Section 11 of this Resolution;

  • Transition bonds means bonds, notes, certificates of

  • Refunding Bonds means Bonds issued pursuant to provisions of this Master Indenture, the proceeds of which are used to refund one or more Series of Outstanding Bonds.

  • Series 2015 Bonds means, collectively, the Series 2015B Bonds, Series 2015C Bonds and Series 2015D Bonds.

  • Additional Secured Debt Designation means a notice in substantially the form of Exhibit A.

  • First Mortgage Bonds means bonds issued by the Company pursuant to the Indenture.

  • 2019 Notes has the meaning set forth in the definition of “2018 Exchange Offers”.

  • Outstanding Bonds means any Bonds not redeemed or otherwise discharged.

  • Additional Senior Debt Facility means each credit agreement, indenture or other governing agreement with respect to any Additional Senior Debt.

  • Additional Series or “Additional Series Equipment Notes” means Equipment Notes issued under the Indenture and designated as a Series (other than “Series AA” or “Series A”) thereunder in the principal amounts and maturities and bearing interest as specified in Schedule I to the Indenture amended at the time of original issuance of such Additional Series under the heading for such Series.

  • Senior Bonds means all Bonds issued as Senior Bonds in compliance with the provisions of the Indenture.

  • Initial Additional Notes means Additional Notes issued in an offering not registered under the Securities Act and any Notes issued in replacement thereof, but not including any Exchange Notes issued in exchange therefor.

  • Replacement Bonds means Bonds issued to the Beneficial Owners of the Bonds in accordance with Section 210 hereof.

  • Additional Obligor means an Additional Borrower or an Additional Guarantor.

  • Subsequent Bonds means any Bonds issued after the First Issue Date on one or more occasions.

  • Previously Issued Bonds means all Bonds that have been issued by CFD No. 2001-1 prior to the date of prepayment.