Debt Service Requirement definition
Debt Service Requirement means the total principal, Maturity Amounts and interest coming due, whether at maturity or upon mandatory redemption (less any amount of interest that is capitalized and payable with the proceeds of debt on deposit with the Authority or any paying agent for the or other obligations of the Authority payable from all or some portion of Gross Earnings), for any period of 12 consecutive calendar months for which such a determination is made, provided:
Debt Service Requirement means, as of any date of calculation with respect to the Bonds, the sum of (i) all interest due or to become due on such date on all Outstanding Bonds plus (ii) all Principal Installments due or to become due on such date on all Outstanding Bonds or, if no Principal Installment is due and payable on such date on any Outstanding Bonds, one- half of the Principal Installments, if any, due and payable on all Outstanding Bonds on the next succeeding Interest Payment Date.
Debt Service Requirement means for any Bond Year, the aggregate of
(1) Principal and Interest Requirements on Bonds of all Series then outstanding for such Bond Year and (2) the payments required to be made in respect of Parity Indebtedness for such Bond Year, employing the methods of calculation set forth in clauses (i), (ii), (iii) and (iv) of Section 2.04(c) of the Original Agreement in the case of Balloon Indebtedness, Variable Rate Indebtedness, Optional Tender Indebtedness, and Qualified Swaps, respectively; provided, however, that interest expense shall be excluded from the determination of Debt Service Requirement to the extent such interest is to be paid from the proceeds of such Indebtedness or from investment earnings thereon if such proceeds shall have been invested in Investment Obligations and to the extent such earnings may be determined precisely; and provided further that interest expense on Credit Facilities drawn upon to purchase but not to retire Bonds, to the extent such interest exceeds the interest payable on the related Bonds, shall be included in the determination of Debt Service Requirements; and provided further that net payments due under a Qualified Swap (exclusive of any amounts payable under any Qualified Swap upon any termination thereof or other fees, expenses, indemnification or other similar payments to the counterparty to such Qualified Swap) shall be included in the determination of the Debt Service Requirement for any Bond Year to the extent required by Section 2.04(c) of the Original Agreement. The determination of Debt Service Requirement shall exclude (i) any amounts deposited in or credited to the Bond Service Subaccount or any other fund or account created to pay principal or interest on any Bonds or Parity Indebtedness and, (ii) to the extent not already excluded by operation of clause (i), any funds the MDTA is legally entitled to receive from the United States government or any instrumentality or agency thereof, including Subsidy Payments, provided that the MDTA is able to determine the precise amount of such funds and that the MDTA has assigned such funds to the Trustee for the purpose of paying principal or interest on one or more series of outstanding Bonds or Parity Indebtedness.
Examples of Debt Service Requirement in a sentence
GBRA shall promptly render monthly bills to the WCID for any portion of the Debt Service Requirement that becomes due and payable during the monthly period pursuant to the terms of the applicable bond resolution.
Subject to the provisions of this Section 5.2, while this Contract is in force and effect but while (1) no Bonds to fund the Initial Improvements are outstanding, and (2) no related Debt Service Requirement is in effect, GBRA shall remit to the WCID an Annual GBRA Payment equal to all Hydro Revenues received in that Fiscal Year.
One-twelfth (1/12) of such allocated portion of the Debt Service Requirement shall be paid to the WCID by GBRA monthly so long as the Bonds for the Initial Improvements or any refunding bonds issued to refinance the Bonds for Initial Improvements remain outstanding.
Thereafter, GBRA shall be unconditionally obligated to reimburse the WCID each year for any Debt Service Requirement associated with such Initial Improvements engineering, planning and design costs.
GBRA shall deposit, as collected, that portion of the Annual WCID Payment that represents the Debt Service Requirement into the appropriate Debt Service Fund as required by the resolution or indenture of trust authorizing the Bonds.
More Definitions of Debt Service Requirement
Debt Service Requirement means the sum of (i) interest expense (whether paid or accrued and including interest attributable to Capital Leases), (ii) scheduled principal payments on borrowed money, and (iii) capitalized lease expenditures, all determined without duplication and in accordance with GAAP.
Debt Service Requirement means the Annual Requirement component required to be paid by the WCID to GBRA during an Annual Payment Period and which relates to Debt Service Costs.
Debt Service Requirement means the total principal and interest coming due, whether at maturity or upon mandatory redemption (less any amount of interest that is capitalized and payable with the proceeds of debt on deposit with the Authority or the Trustee), in any specified period, provided:
Debt Service Requirement. Except as otherwise provided in the related Series Supplement, with respect to a particular Payment Date for a Series, the Available Funds.
Debt Service Requirement. The dollar amount of principal and/or interest due to the Bondholders on the next scheduled Payment Date.
Debt Service Requirement means the total principal and interest coming due on all Restricted Indebtedness, whether at maturity or upon mandatory redemption, in any specified period.
Debt Service Requirement means, for any period of calculation, (i) all interest payable on all Bonds Outstanding during such period, plus (ii) the Principal Installment or Installments payable on such Bonds during such period, less (iii) amounts available to pay Principal Installments and interest becoming due in such Fiscal Year on Bonds Outstanding as of the first day of such Fiscal Year, including but not limited to (A) amounts on deposit in the Debt Service Assistance Account or Debt Service Assistance certified by an Authorized Officer of the City as reasonably expected to be received and deposited to the Debt Service Assistance Account on or before the last day of the Fiscal Year during which the applicable Debt Service Requirement calculation is to be made if such Debt Service Assistance has been appropriated by the applicable governmental entity, if any, or is payable pursuant to an agreement constituting a valid general obligation of the grantor, (B) amounts on deposit in the Stabilization Account and