Debt Service Reserve Required Balance definition

Debt Service Reserve Required Balance means, as of the end of each fiscal quarter of the Borrower, an amount equal to Mandatory Debt Service projected to become due during the next succeeding six (6) months, as calculated by the Administrative Agent.

Debt Service Reserve Required Balance means, on the Closing Date, $6,200,000, and thereafter an amount equal to the aggregate amount of the principal and interest due on the Senior Secured Notes on the next succeeding semi-annual scheduled payment date.

Debt Service Reserve Required Balance means, individually and collectively, as applicable, any Senior Debt Service Reserve Required Balance or the TIFIA Debt Service Reserve Required Balance.

Examples of Debt Service Reserve Required Balance in a sentence

• The Debt Service Reserve Account shall have been funded in an amount equal to not less than the Debt Service Reserve Required Balance.

• The Borrower shall have funded the Debt Service Reserve Account with the initial Debt Service Reserve Required Balance, other than any portion thereof that will be wired by the Administrative Agent to the Collateral Agent out of the proceeds of the Borrowing of Loans.

• The Borrower shall maintain the Senior Debt Service Reserve Account in an amount equal to the Senior Debt Service Reserve Required Balance and the TIFIA Debt Service Reserve Account in an amount equal to the TIFIA Debt Service Reserve Required Balance, in each case in accordance with the provisions of this Agreement and the applicable Indenture Documents.

• The Series 2017 Bonds Debt Service Reserve Sub-Account shall be funded (i) on the SC Milestone Payment Date, from available amounts on deposit in the Construction Account (subject to the Tax Regulatory Agreement) pursuant to Section 5.02(e) or from other amounts available to the Borrower, in an amount equal to the Series 2017 Bonds Debt Service Reserve Required Balance (as calculated on such date) and (ii) thereafter in accordance with clause “Eighth” of Section 5.03(b).

• The Borrower shall fail to fund the TIFIA Loans Debt Service Reserve Account on or before the Debt Service Payment Commencement Date, in an amount equal to the TIFIA Debt Service Reserve Required Balance applicable as of the Debt Service Payment Commencement Date.

More Definitions of Debt Service Reserve Required Balance

Debt Service Reserve Required Balance means, as of any Semi-annual Payment Date, the amount specified for such Semi-annual Payment Date in Schedule 10.10, which amount shall remain constant at all times thereafter until the following Semi-annual Payment Date, provided that in no event shall the Debt Service Reserved Required Balance be less than, as of any date, an amount equal to the forecasted scheduled Debt Service for the next succeeding six month period.

Debt Service Reserve Required Balance means an amount equal to the sum of the next two (2) quarterly principal and interest payments coming due on the Loans.

Debt Service Reserve Required Balance means the amount equal to the next succeeding semi-annual scheduled payment of principal and interest due and payable on Outstanding Bonds plus, if a DSR LOC is to be provided, an amount corresponding to six months of interest on the maximum amount of such DSR LOC, as established by the Partnership and the DSR LOC Agent pursuant to the DSR LOC Reimbursement Agreement.

Debt Service Reserve Required Balance. Debt Service Reserve Fund', 'Interest Payment Date', 'Principal Fund' and 'Principal Payment Date'. 3. Section 2.1 is hereby amended by deleting the words "opposite such Bank's name on the signature pages hereof" in the sixth line of such section and substituting therefor "in Annex I or Annex II hereto, as applicable". Annex I hereto is hereby added to the Amended and Restated Debt Service Reserve Letter of Credit and Reimbursement Agreement as Annex I. Annex II hereto is hereby added to the Amended and Restated Debt Service Reserve Letter of Credit and Reimbursement Agreement as Annex II.

Debt Service Reserve Required Balance means, at any date of determination thereof, the sum of (a) the next succeeding semiannual principal and interest payment on the Initial Bonds, (b) the next succeeding principal and interest payment on the Additional Bonds, if any, and (c) the next succeeding interest payment under any ACS LOC Reimbursement Agreement with respect to which the Company is the obligor.

Debt Service Reserve Required Balance means an amount equal to six (6) future payments of principal and interest under the Notes.

Debt Service Reserve Required Balance means the amount set forth on Schedule I hereto, as such amount may be adjusted from time to time in accordance with the provisions set forth on such Schedule.