Annual Debt Service Requirements means, for any Fiscal Year, the principal of and interest on all Parity Obligations coming due at Maturity or Stated Maturity (or that could come due on demand of the owner thereof other than by acceleration or other demand conditioned upon default by the Board on such Debt, or be payable in respect of any required purchase of such Debt by the Board) in such Fiscal Year, and, for such purposes, any one or more of the following rules shall apply at the election of the Board:
Annual Debt Service Requirements means, for any fiscal or calendar year, an amount equal to the Debt Service of the particular Parity Obligations for which computation is being made, which will become due and payable during such annual period.
Annual Debt Service Requirements means, with respect to the Series 2013 Warrants and any Additional Parity Securities, the amount of principal and interest maturing with respect thereto in the Fiscal Year in question; provided, that the principal amount of any such Series 2013 Warrants or Additional Parity Securities required, by the terms of the Warrant Ordinance or any Parity Securities Ordinance (as the case may be), to be redeemed during any Fiscal Year out of a sinking or other similar fund shall, for purposes of this definition, be considered as maturing in the Fiscal Year during which such redemption is required and not in the Fiscal Year in which their stated maturity occurs.
Examples of Annual Debt Service Requirements in a sentence
System, including sufficient Pledged Revenues as defined in the Master Resolution to satisfy the Annual Debt Service Requirements of the Financing System, and to meet all financial obligations of the U.
The Board hereby authorizes the Treasurer to make the necessary calculation with respect to the coverage factor of Net Income to Average Annual Debt Service Requirements, after the pricing of the Series 2017 Bonds, to be shown in the Official Statement for the Series 2017 Bonds.
Annual debt service on any proposed Additional Bonds to be issued may be estimated by the consulting engineer in projecting Average Annual Debt Service Requirements, but no Additional Bonds shall be issued requiring any annual debt service payment in excess of the amount so estimated by the consulting engineer.
System, including sufficient Pledged Reve- nues as defined in the Master Resolution to satisfy the Annual Debt Service Requirements of the Financing System, and to meet all financial obligations of the U.
System, including sufficient Pledged Revenues as defined in the Master Resolution to satisfy the Annual Debt Service Requirements of the Financing System, and to meetall financial obligations of the U.
More Definitions of Annual Debt Service Requirements
Annual Debt Service Requirements of any specified Person means, for any Fiscal Year, the principal of (and premium, if any) and interest and other debt service charges (which include for purposes hereof, any fees or premiums for any letter of credit, surety bond, policy of insurance, bond purchase agreement, or any similar credit or liquidity support secured in connection therewith payable in such Fiscal Year) on all Long-Term Indebtedness of such Person coming due at maturity or stated maturity, and, for
Annual Debt Service Requirements means, with respect to any Person (including the District and any Restricted Affiliate), for any Fiscal Year, the principal of and premium, if any, and interest and other debt service charges (including any annual and recurring fees or premiums for any letter of credit, or any similar credit or liquidity support secured in connection therewith) on all Outstanding Funded Debt of such Person coming due in such Fiscal Year, subject, however, to the following rules:
Annual Debt Service Requirements means, during any Bond Year, the amounts required to pay the principal of, redemption premium, if any, and any sinking fund requirement and interest on the Outstanding Bonds; provided, that with respect to the Series 2021 Bonds and any other series of Bonds for which the City has designated and provided Supplemental Security pursuant to Section 2.13, the Annual Debt Service Requirements for such Bonds in any Bond Year shall be reduced by the amount of Supplemental Security provided therefor that is on deposit in the Debt Service Fund and available to pay debt service for such Bond Year; provided further, solely for the purposes of determining the Debt Service Reserve Fund Requirement, the Debt Service Coverage Fund Requirement and any coverage requirement for the issuance of Additional Bonds, that with respect to the Series 2021 Bonds and any other series of Bonds for which the City has designated and provided Supplemental Security pursuant to Section 2.13, the Annual Debt Service Requirements for such Bonds in any Bond Year shall be reduced by the amount of Supplemental Security that is scheduled to be transferred to or is on deposit in the Debt Service Fund for such Bond Year.
Annual Debt Service Requirements means, as of the date of calculation, the principal of and interest on all Prior Lien Obligations corning due at Maturity or Stated Maturity (or that could come due on demand of the owner thereof other than by acceleration or other demand conditioned upon default by the District on such Debt, or be payable in respect of any required purchase of such Debt by the District) in such Fiscal Year, and, for such purposes, any one or more of the following rules shall apply at the election of the District:
Annual Debt Service Requirements means, for any Fiscal Year, (i) the principal of, premium, if any, and interest on all Bonds coming due at Maturity or Stated Maturity (or that could come due on demand of the owner thereof other than by acceleration or other demand conditioned upon default by the Commission on such Bonds, or be payable in respect of any required purchase of such Bonds by the Commission) plus (ii) all payments required to be made by the Commission under each Credit Agreement constituting Bonds (net of any credits as provided in (7) below) in such Fiscal Year, and minus (iii) all amounts on deposit to the credit of the Interest and Sinking Fund from original proceeds from the sale of Bonds or from any other lawfully available source and, for such purposes, any one or more of the following rules shall apply at the election of the Commission; provided, however, that this definition shall never be applied in a manner which results in Annual Debt Service Requirements for any Fiscal Year being an amount that is less than the aggregate amount actually required to be paid in such Fiscal Year with respect to Outstanding Bonds:
Annual Debt Service Requirements means, for any Fiscal Year, the principal of, interest on, and other payments due from the Authority under, all Senior Lien Obligations coming due (or that could come due on demand of the owner thereof other than by acceleration or other demand conditioned upon default by the Authority on such Senior Lien Obligations, or be payable in respect of any required purchase of such Senior Lien Obligations by the Authority) in such Fiscal Year (including any costs and amounts due and owing under any Credit Agreements), except to the extent that any such principal, interest or other payments are to be paid from amounts (including investment earnings thereon) held in the Interest and Sinking Fund, the Reserve Fund, or any other Fund into which amounts have been set aside for the purpose of providing for the payment of such principal, interest or other payments; and, for such purposes, any one or more of the following rules shall apply at the election of the Authority:
Annual Debt Service Requirements means, as of the date of calculation, the principal of and interest on all Senior Lien Obligations coming due at Maturity or Stated Maturity (or that could come due on demand of the owner thereof or other demand conditioned upon default by the Issuer on such Debt, or be payable in respect of any required purchase of such Debt by the Issuer) in such Year, and, for such purposes, the following rules may apply at the election of the Issuer: