Examples of Debt Service Charges in a sentence
The Borrower will not at any time permit the outstanding principal amount of the Unsecured Indebtedness to exceed an amount such that: (a) the Unencumbered Net Operating Income, divided by (b) Pro Forma Unsecured Debt Service Charges would be less than 1.5 for any Fiscal Quarter.
Subject to such priorities of application as are established herein, moneys on deposit in the Bond Fund shall be used to pay Debt Service Charges when due at maturity, upon prior redemption, prepayment or acceleration, or otherwise.
As at the end of any fiscal quarter or other date of measurement, the Borrowers shall not permit the aggregate Adjusted Unencumbered Property NOI for all Unencumbered Properties for the two (2) most recent, complete, consecutive fiscal quarters to be less than two (2) times Consolidated Assumed Amortizing Unsecured Debt Service Charges.
Payment of the Debt Service Charges on any Water Improvement Note will be made only to, or on the order of, that person.
So long as any portion of the Debt Service Charges on the Notes is unpaid, the money credited to that account shall be used solely for the purpose of paying those Debt Service Charges.