Interest Requirement definition

Interest Requirement means, with respect to each series of Bonds, an amount equal to the interest due and payable on the Interest Payment Date next succeeding the date of determination (assuming that no principal of Bonds is paid or redeemed between such date and the next succeeding Interest Payment Date).
Interest Requirement means, for any Interest Payment Date, as applied to all of the Current Interest Bonds or a portion thereof, the total of the interest regularly scheduled to become due on such Bonds on such Interest Payment Date. Interest expense shall be excluded from the definition of Interest Requirement to the extent that proceeds of any Bonds are held by the Trustee to pay such interest. Unless the Transportation Board shall otherwise provide in a Supplemental Indenture, interest expense on Bond Credit Facilities drawn upon to purchase but not to retire Bonds, to the extent such interest exceeds the interest otherwise payable on such Bonds, shall not be included in the determination of an Interest Requirement.
Interest Requirement means for any Bonds, Additional Bonds, or Junior Lien Bonds and for any Bond Year the aggregate amount of interest on such Bonds, Additional Bonds, or Junior Lien Bonds having a Stated Maturity during such Bond Year.

Examples of Interest Requirement in a sentence

  • All income or other gain (net of losses and investment expenses) from investments of moneys deposited in the Owner Trust Spread Account shall be applied, as directed by the Administrator by an Issuer Order, (a) to the extent available, to pay the Class C Note Interest Requirement and (b) to the extent of any remaining investment proceeds, to increase the amount on deposit on the Owner Trust Spread Account.

  • On each Transfer Date, the Indenture Trustee or the Paying Agent, acting at the Administrator's request, shall transfer Investment Earnings from the Owner Trust Spread Account to the Note Distribution Account to the extent required to pay the Class C Note Interest Requirement on the related Payment Date pursuant to subsection 2.7(a)(iii).

  • On or before the Payment Date until the Payment Date on or immediately following the Prefunding Termination Date, the Indenture Trustee shall, based on the Monthly Servicer Report, withdraw, to the extent available, from the Capitalized Interest Account for deposit into the Collection Account, an amount equal to the Capitalized Interest Requirement.

  • On the Business Day preceding any Distribution Date occurring during the Prefunding Period, the Securities Administrator shall withdraw from the Capitalized Interest Account an amount equal to the Capitalized Interest Requirement (based on a monthly report provided to the Securities Administrator by the Master Servicer no later than such Business Day) for deposit into the Certificate Account for distribution to Certificateholders in accordance with Article V on such Distribution Date.

  • On each Distribution Date, funds in the Capitalized Interest Account equal to the Capitalized Interest Requirement for such Distribution Date shall be withdrawn by the Securities Administrator from the Capitalized Interest Account and deposited into the Distribution Account as required by Section 5.02(a).


More Definitions of Interest Requirement

Interest Requirement means 35 days’ interest on the Bonds at the Maximum Rate or such other number of days as may be permitted or required by the Rating Agency.
Interest Requirement means, with respect to each Series of Bonds as of any date of calculation, an amount equal to the accrued but unpaid interest of the Bonds of such Series (except Compound Interest Bonds or Convertible Deferred Interest Bonds before the Full Accretion Date), plus with respect to each Enhancement Agreement, any Enhancement Accrual.
Interest Requirement means (a) during the Variable Period, 35 days’ interest computed at the Maximum Rate, and (b) during a Reset Period or the Fixed Rate Period, 189 days’ interest computed at the Reset Rate or Fixed Rate, as applicable; or, in the case of either (a) or (b), such lesser number of days as may be acceptable to the Rating Agency, as confirmed in writing by the Rating Agency.
Interest Requirement means, as of any particular date of calculation, the amount equal to any unpaid interest then due and payable, plus an amount which will on the next succeeding Interest Payment Date be equal to the interest to become due and payable on the Bonds on such next succeeding Interest Payment Date.
Interest Requirement means as of any particular date of calculation, the amount equal to any unpaid interest then due, plus an amount to the interest accruing or payable during the period between the date of calculation and the next Redemption Fund Deposit Day with respect to each Series of Outstanding Bonds.
Interest Requirement means, as of any particular date of computation, the sum of the unpaid interest then past due, if any, plus the interest to become due on all Outstanding Bonds on the next Interest Payment Date (if such computation is made on an Interest Payment Date for one or more Series of Bonds before the interest then due on such Interest Payment Date is paid, such Interest Payment Date shall be treated as the next Interest Payment Date for such Series).
Interest Requirement means, for any Fiscal Year, the aggregate amount of interest having a Stated Maturity during the period from May 2 of such Fiscal Year up to and including May 1 of the next Fiscal Year.