Debt Service Reserve means the reserve for payment of principal and interest on the Bonds, created and established by Sections 502 and 506 of the General Trust Indenture.

Debt Service Reserve shall have the meaning set forth in Section 7.5.1 hereof.

Debt Service Reserve means the amount estimated by the Agent (following consultation with the Borrower) and notified to the Borrower as the amount as shall be necessary to provide for the Borrower to meet its payment obligations under this Agreement and under the Swap Contracts during the following six Months (taking account of Swap Payments receivable by the Borrower under the Swap Contracts);

Examples of Debt Service Reserve in a sentence

The bonds are secured by the loans made to the local entities by the OWRB, investment income in the Drinking Water State Revolving Fund Account and monies held in the Debt Service Reserve Fund.
Investment of the Debt Service Reserve Fund shall be valued every ten (10) years, at the market value thereof, exclusive of accrued interest.
Notwithstanding anything to the contrary contained in the General Resolution, the Corporation may, at any time, provide to the Trustee one or more Cash Equivalents for deposit in the Debt Service Reserve Account in an amount not exceeding the amount of the Debt Service Reserve Account Requirement specified in this Supplemental Resolution.
Prior to any such transfer described herein, investments held in the Debt Service Reserve Fund shall be liquidated to the extent necessary in order to provide for the transfer described herein.
All funds drawn from the Debt Service Reserve Account, from the Liquidity Reserve Account and from the Trigger Event Reserve Account outside Brazil to be used for Interest Payment and for the portion of Principal Payment that represents capital gain as a consequence of exchange rate movement are subject to IRRF ( Imposto de Renda Retido na Fonte) at the rate of 15,00%.

More Definitions of Debt Service Reserve

Debt Service Reserve means the monies standing to the credit of the Debt Service Reserve Account at any given time.

Debt Service Reserve means the portion of the Bond Fund in excess of the aggregate principal, interest, and Bond Fund Charges of Outstanding Bonds for the ensuing year, which excess portion shall constitute the "Debt Service Reserve" created and provided for in Section 4.05(3) of the Basic Resolution.

Debt Service Reserve means, as of any date of determination, an amount equal to the sum of (a) $30,000,000 plus (b) all interest that is scheduled to be paid by the Company under this Indenture during the immediately succeeding six months; provided, that such amount shall be increased to (i) $45,000,000 plus (ii) all interest that is scheduled to be paid by the Company under this Indenture during the immediately succeeding nine months if (x) there is a casualty event (other than an Event of Loss) with respect to the Collateral Rig in excess of $50,000,000, until such time as the Collateral Rig is repaired and operational under the applicable Drilling Contract, or (y) Shell (or any other entity that is the counterparty under the Drilling Contract) is more than 90 days late with respect to the making of payments under the Drilling Contract in an aggregate amount in excess of $30,000,000.

Debt Service Reserve means, as of any date of determination, an amount equal to the sum of (a) $30,000,000 plus (b) all interest that is scheduled to be paid by the Company under this Indenture during the immediately succeeding six months; provided, that such amount shall be increased to (i) $45,000,000 p lu s (ii) all interest that is scheduled to be paid by the Company under this Indenture during the immediately succeeding nine months if (x) there is a casualty event (other than an Event of Loss) with respect to the Collateral Rig in excess of $50,000,000, until such time as the Collateral Rig is repaired and operational under the applicable Drilling Contract, or (y) Shell (or any other entity that is the counterparty under the Drilling Contract) is more than 90 days late with respect to the making of payments under the Drilling Contract in an aggregate amount in excess of $30,000,000.

Debt Service Reserve means on any date a sum equal to the projected Debt Service obligations of the Borrower under this Agreement due in the six month period from that date (excluding the Mooring Tranche Repayment Instalment, the Balloon and any projected repayments of LC Loans and in respect of any period commencing on a Repayment Date, excluding the amounts payable on that Repayment Date) and provided that for such purpose LIBOR shall be assumed to be unchanged from the rate currently applicable for any Loan or pursuant to any Hedging Contract.

Debt Service Reserve. As defined in Section 6.17 of the Common Agreement.