Bond Reserve Requirement definition

Bond Reserve Requirement means, collectively, the bond reserve requirement for each series of Outstanding Parity Bonds, the Series 2020C Bond Reserve Requirement and any bond reserve requirement for any subsequent series of Parity Bonds.

Bond Reserve Requirement means the total of any Bond Reserve Requirements for the Project Bonds, as set forth in the Project Indentures.

Bond Reserve Requirement means, collectively or individually, as the context requires, the bond reserve requirement for each series of Outstanding Parity Bonds and any bond reserve requirement for any subsequent series of Parity Bonds, as applicable; provided that there shall be no bond reserve requirement for the WIFIA Bond and the WIFIA Credit Provider shall have no Lien on the Bond Reserve Account or any bond reserve subaccount established in connection with the issuance of other Parity Indebtedness.

Examples of Bond Reserve Requirement in a sentence

• All earnings on investments held in the Bond Reserve Account shall accrue to and become a part of the Bond Reserve Account until the amount on deposit in the Bond Reserve Account shall aggregate the Bond Reserve Requirement; thereafter, all such earnings shall be credited to the Principal and Interest Account.

• With respect to the issuance of Additional Bonds, an additional deposit to the Bond Reserve Account shall be made to bring the Bond Reserve Account to an amount equal to the Bond Reserve Requirement.

• There shall next be set aside and credited monthly to the Bond Reserve Account, for the credit of the respective subaccounts thereof as appropriate, the amount, if any, required to restore the Bond Reserve Account to the Bond Reserve Requirement.

• Any amounts in the Bond Reserve Fund in excess of the Bond Reserve Requirement will be transferred to the Bond Fund.

• Next there shall be deposited in the Bond Reserve Account an amount sufficient, when added to any other deposits made by the City, to meet the Bond Reserve Requirement, but not in excess of the maximum permitted by the Code.

More Definitions of Bond Reserve Requirement

Bond Reserve Requirement means, as of the date of computation, the amount of money required to be on deposit in the Bond Reserve Fund for any or all Series of Bonds, as determined by Supplemental Resolution of the Authority or by a Certificate of Authority Officer relating to the Bonds. All or any part of the Bond Reserve Requirement may be satisfied by depositing funds in the Bond Reserve Fund or by obtaining a Bond Reserve Credit Facility.

Bond Reserve Requirement means the reserve requirement established for a Series of Bonds under the terms of the Sales Documents or Trust Agreement with respect to such Series and pursuant to the terms of Section 3.04 hereof.

Bond Reserve Requirement means an amount equal to Maximum Annual Debt Service attributable to the Parity Bonds, provided, however, that the Bond Reserve Requirement may not exceed the lesser of (a) 125% of the average annual Debt Service Requirements for the Parity Bonds over the term of all such bonds, (b) the aggregate of 10% of the original stated principal amount of each Series of Parity Bonds or (c) the Maximum Annual Debt Service for all Parity Bonds during any Fiscal Year. If the aggregate initial offering price of any series of Bonds to the public is less than 98% or more than 102% of par, such offering price shall be used in clause (a) in lieu of the stated principal amount. When calculating the Bond Reserve Requirement in conjunction with the issuance of the Bonds described in Section 906 hereof, the debt service of refunded and defeased Bonds shall be deducted and disregarded in said calculations.

Bond Reserve Requirement means an amount equal to Maximum Annual Debt

Bond Reserve Requirement means at the time of the issuance of the Series 2007 Bonds, the least of (i) 10% of the stated principal amount of the Series 2006 Bonds, the Series 2007 Bonds and any Additional Bonds; (ii) Maximum Annual Debt Service on the Series 2006 Bonds, the Series 2007 Bonds and any Additional Bonds; and (iii) 125% of the average annual debt service on the Series 2006 Bonds, the Series 2007 Bonds and any Additional Bonds.

Bond Reserve Requirement means the balance required by the Trust Agreement to be maintained in the Bond Reserve Fund for the Bonds.

Bond Reserve Requirement or “Required Reserve” means as to any series of Bonds, an amount, if any, determined by the Fiscal Officer, in consultation with the Financial Advisor, to be financially advantageous to and in the best interest of the University to set aside as a reserve to secure a series of Bonds, which amount shall be set forth in the Certificate of Award for the related series of Bonds; provided that such Bond Reserve Requirement shall be subject to any applicable requirements of the Code.