Bond Reserves definition

Bond Reserves means reserves established by the Bond Documents for the Authority Bonds to secure timely payment of amounts due on the Authority Bonds even if one or more local borrowers do not make timely payments on their loans.
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Bond Reserves means all funds (including, but not limited to, debt service reserve funds) held or otherwise required to be maintained under the Bond Documents.
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Bond Reserves. The following escrow or reserve accounts with respect to the Bonds, as provided for by the Bond Documents:
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Examples of Bond Reserves in a sentence

  • The Local Borrower acknowledges that payment of the Authority Bonds by the Authority, including payment from moneys drawn by the Trustee from the Bond Reserves or the CWRF Financial Assistance Account and DWRF Financial Assistance Accounts established under the Bond Documents, does not constitute payment of the amounts due under this Loan Agreement.

  • The payment of the Seller's Funds to Seller, to the extent that Buyer receives the September, 1998 distribution from the Bond Reserves accounts in accordance with the Bond Documents, shall be treated for purposes of this Agreement as a reimbursement of Seller by Buyer pursuant to Section 13.14 hereof.

  • On the Closing Date, the balance of the FF&E Reserve shall not be less than $1,375,000.00 and the balance of the Debt Service Reserve Fund, which is part of the Bond Reserves, shall not be less than $4,000,000.00.

  • Interest payments due on the Bonds and payments due on the Equity Reserve Fund that is part of the Bond Reserves for the period in which the Closing Date falls shall be prorated as of the Closing.

Related to Bond Reserves

  • road reserve means the area contained within the statutory width of a road, and includes roadways, shoulders and sidewalks and the airspace above such roadways, shoulders and sidewalks and all other areas within the road reserve boundary.

  • Yield Reserve means, on any date, an amount equal to: (a) the Capital at the close of business of the Servicer on such date multiplied by (b)(i) the Yield Reserve Percentage on such date divided by (ii) 100% minus the Yield Reserve Percentage on such date.

  • Production Payments and Reserve Sales means the grant or transfer by the Company or a Restricted Subsidiary to any Person of a royalty, overriding royalty, net profits interest, production payment (whether volumetric or dollar denominated), partnership or other interest in Oil and Gas Properties, reserves or the right to receive all or a portion of the production or the proceeds from the sale of production attributable to such properties where the holder of such interest has recourse solely to such production or proceeds of production, subject to the obligation of the grantor or transferor to operate and maintain, or cause the subject interests to be operated and maintained, in a reasonably prudent manner or other customary standard or subject to the obligation of the grantor or transferor to indemnify for environmental, title or other matters customary in the Oil and Gas Business, including any such grants or transfers pursuant to incentive compensation programs on terms that are reasonably customary in the Oil and Gas Business for geologists, geophysicists or other providers of technical services to the Company or a Restricted Subsidiary.

  • PDP Reserves means the Proven Reserves which are categorized as both “developed” and “producing” under the definitions for oil and gas reserves promulgated by the Society of Petroleum Evaluation Engineers (or any generally recognized successor) as in effect at the time in question and reasonably acceptable to the Administrative Agent.

  • Project Funding means the funding for the Services;