Debt Service Reserve Agreement definition

Debt Service Reserve Agreement means that certain Debt Service Reserve Escrow and Security Agreement of even date herewith between Lender and Borrower.
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Debt Service Reserve Agreement means the agreement between the Governmental Unit and BAM related to the Reserve Account Insurance Policy.
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Debt Service Reserve Agreement means an agreement between the
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Examples of Debt Service Reserve Agreement in a sentence

  • No event has occurred and no condition exists which, upon the execution and delivery of this First Amendment or the Debt Service Reserve Agreement, would constitute an Event of Default on the part of the Governmental Unit under this First Amendment or the Debt Service Reserve Agreement.

  • Neither the execution and delivery of this First Amendment and the Debt Service Reserve Agreement by the Governmental Unit, nor compliance by the Governmental Unit with the obligations under such agreements, requires the approval of any regulatory body, or any other entity, which approval has not been obtained or which is not reasonably expected to be obtained.

  • She stated that the tax credit program is designed in such a way as that a business does not get the credit until they create the jobs.

  • The City further agrees to and acknowledges its obligation to reimburse the Bond Insurer for payments made by the Bond Insurer of interest on or principal of the Bonds to the registered owners of the Bonds pursuant to the Bond Insurance Policy, the DSRF Policy, the Second Supplemental Indenture and the Debt Service Reserve Agreement.

  • The Governmental Unit has taken all required action necessary to authorize the execution and delivery of this First Amendment and the Debt Service Reserve Agreement, and this First Amendment and the Debt Service Reserve Agreement constitute a legal, valid and binding special obligations of the Governmental Unit enforceable in accordance with their respective terms.

  • The Governmental Unit has duly authorized and approved the execution and delivery of this First Amendment, the Debt Service Reserve Agreement and the other documents related to the transaction.

  • To the knowledge of the Governmental Unit, no litigation or proceeding is pending or threatened against the Governmental Unit affecting the right of the Governmental Unit to execute or deliver this First Amendment or the Debt Service Reserve Agreement or to comply with its obligations under this First Amendment or the Debt Service Reserve Agreement.

  • Pursuant to the Debt Service Reserve Agreement, establish and maintain a debt service reserve fund with Lender equal to approximately three (3) months of debt service payments with respect to the Note as reasonably estimated by Lender, rounded upward to the nearest One Thousand Dollars ($1,000).

  • Peak shall be in compliance with its requirements under Section 11.4 (a) of the Master Credit Agreement and the referenced Debt Service Reserve Agreement by and among the parties to the Master Credit Agreement, all as referred to in Section 11.4 (a) of the Master Credit Agreement, as amended from time to time.

  • The Reserve Account shall be specifically governed by the Debt Service Reserve Agreement.


More Definitions of Debt Service Reserve Agreement

Debt Service Reserve Agreement means the Debt Service Reserve Agreement, dated, 2020, between the Authority and the Bond Insurer.
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Debt Service Reserve Agreement means the Debt Service Reserve Agreement, dated , 2016 between the Authority and the Bond Insurer.
Sample 1
Debt Service Reserve Agreement. The Debt Service Reserve and Security Agreement in form and substance acceptable to Lender between Borrower and Lender.
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Related to Debt Service Reserve Agreement

  • Debt Service Reserve Fund means the fund by that name established pursuant to the Second Resolution.

  • 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 Account shall have the meaning assigned to such term in the Depositary Agreement.

  • Debt Service Fund means the fund so designated in, and created pursuant to, Section 502 hereof.

  • Debt Service Reserve Fund Requirement means, with respect to the 2017 Series B Bonds and as of each determination date, an amount equal to maximum annual debt service on the 2017 Series B Bonds Outstanding from time to time and, with respect to any other Series of Bonds, the amount set forth in the Related Series Indenture.

  • Debt Service Reserve Requirement means, as of any date of calculation, and for any Fiscal Year, the amount equal to the maximum Adjusted Aggregate Debt Service on Bonds in the current or any future Fiscal Year on all Bonds Outstanding; provided, however, that if, upon the issuance of a Series of Bonds, such amount would require moneys, in an amount in excess of the maximum amount permitted under the Code to be deposited therein from the proceeds of such Bonds, to be deposited therein, the Debt Service Reserve Requirement shall mean an amount equal to the sum of the Debt Service Reserve Requirement immediately preceding issuance of such Bonds and the maximum amount permitted under the Code to be deposited therein from the proceeds of such Bonds, as certified by an Authorized Representative of the Authority; provided, further, that, if (i) the payment of the Principal Installments of or interest on any Series of Bonds or portion thereof is secured by a Special Credit Facility, (ii) the payment of the Tender Option Price of any Option Bond of a Series is secured by a Special Credit Facility or (iii) the Authority has determined in a Supplemental Resolution authorizing the issuance of a Series of Bonds that such Series of Bonds will not be secured by the Common Account in the Debt Service Reserve Fund, the Supplemental Resolution authorizing such Series may specify the Debt Service Reserve Requirement, if any, for the Bonds of such Series: provided, further, that if, as a result of the expiration or termination of a Financial Guaranty, a deficiency shall be created in the Debt Service Reserve Fund, the Debt Service Reserve Requirement shall be calculated so as to exclude the amount of such deficiency and the Debt Service Reserve Requirement shall be increased in each of the five Fiscal Years after the date such deficiency was created by an amount equal twenty per centum (20%) of the aforesaid deficiency.For the purpose of calculating the Debt Service Reserve Requirement for any Variable Rate Bonds of a Series, the maximum Adjusted Debt Service on such Series shall be determined by reference to the Pro Forma Bond Issue for the Variable Rate Bonds of such Series set forth in the Supplemental Resolution authorizing such Series.

  • Debt Service Account means the Debt Service Account for General Obligation Temporary Notes, Series 2017-1 (within the Bond and Interest Fund) created pursuant to Section 501 hereof.

  • Debt Service means, with respect to any particular period of time, scheduled principal and/or interest payments under the Note.

  • Replacement Reserve Agreement means any Replacement Reserve Agreement between the Borrower and the Funding Lender, as the same may be amended, restated or supplemented from time to time.

  • Debt Service Reduction With respect to any Mortgage Loan, a reduction in the scheduled Monthly Payment for such Mortgage Loan by a court of competent jurisdiction in a proceeding under the Bankruptcy Code, except such a reduction resulting from a Deficient Valuation.

  • Debt Service Reduction Mortgage Loan Any Mortgage Loan that became the subject of a Debt Service Reduction.

  • Debt Service Charges means for any Measurement Period, the sum of (a) Consolidated Interest Charges paid or required to be paid for such Measurement Period, plus (b) principal payments made or required to be made on account of Indebtedness (excluding the Obligations and any Synthetic Lease Obligations but including, without limitation, Capital Lease Obligations) for such Measurement Period, in each case determined on a Consolidated basis in accordance with GAAP.

  • Expense Reserve Account The trust account established pursuant to Section 10.3(d).

  • Monthly Debt Service Payment Amount means, for each Monthly Payment Date, an amount equal to the amount of interest which is then due on all the Components of the Loan in the aggregate for the Interest Period during which such Monthly Payment Date occurs.

  • Series Reserve Account means the Reserve Account for the Series of Bonds established in the Reserve Fund by Supplemental Indenture in an amount equal to the Series Reserve Account Requirement for such Series of Bonds.

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.

  • Annual Debt Service as of any date means the maximum amount which is expensed in any 12-month period for interest on Debt of the Company and its Subsidiaries.

  • Debt Service Ratio means for any period the Modified Cash NOI for all consolidated and unconsolidated properties of the Operating Partnership based on its share (determined on a proportional ownership basis based upon the Operating Partnership’s ownership (direct or indirect) in each of its Subsidiaries and Joint Ventures) divided by Debt Service.

  • Annual Debt Service Charge as of any date means the amount which is expensed in any 12-month period for interest on Debt of the Company and its Subsidiaries.

  • Liquidity Reserve Account shall have the meaning set forth in Section 8.2(A)(iii).

  • Interest Reserve Account As defined in Section 3.4(d).

  • 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.

  • Requisite Reserve Amount As of any date with respect to any Series (or Class within such Series), the amount, if any, required to be maintained in the Reserve Account, if any, for such Series or Class as specified in or determined pursuant to the related Supplement.

  • Interest Reserve Amount has the meaning set forth in Section 5.1(d).

  • Excess Reserve Fund Account The separate Eligible Account created and maintained by the Securities Administrator pursuant to Sections 3.07(b) and 3.07(c) in the name of the Securities Administrator for the benefit of the Regular Certificateholders and designated "Wells Fargo Bank, National Association in trust for registered Holders xx Xxrgan Stanley Capital I Inc. Trust 2006-HE2, Mortgage Pass-Through Cerxxxxxxtxx, Xxxies 2006-HE2." Funds in the Excess Reserve Fund Account shall be held in trust for the Regular Certificateholders for the uses and purposes set forth in this Agreement. Amounts on deposit in the Excess Reserve Fund Account shall not be invested.

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];