Mandatory Debt Service definition

Mandatory Debt Service means, for any period, the sum of all scheduled interest, premium, if any, and principal due and payable during such period in respect of all Indebtedness of the Company; provided that fees, including any consent fees, payable in connection with the issuance of any Additional Senior Indebtedness shall be excluded.

Mandatory Debt Service means, for any period of four fiscal quarters of the Borrower, the sum of the following amounts payable during such period: (a) all Required Class A Loan Repayment Amounts set forth in Column A of Schedule 2.5, (b) all interest on the Loans, (c) all commitment and agency fees payable by the Borrower, and (d) any payments constituting Hedging Obligations payable by the Borrower (or less amounts payable to the Borrower); provided that for purposes of calculating the Debt Service Coverage Ratio for any period of four fiscal quarters of the Borrower ending on any date specified below, Mandatory Debt Service shall be calculated as follows:

Mandatory Debt Service means, for any Calculation Period, the sum of the following amounts payable during such period: (a) all interest on the Loans, (c) all commitment and agency fees payable by the Borrower, and (c) any periodic scheduled payments constituting Hedging Obligations payable by the Borrower (or less amounts payable to the Borrower); provided that for purposes of calculating the Backward Debt Service Coverage Ratio for any period of four fiscal quarters of the Borrower ending on any date specified below, Mandatory Debt Service shall be calculated as follows:

Examples of Mandatory Debt Service in a sentence

• On each Semi-Annual Payment Date occurring on or after the Debt Service Payment Commencement Date and prior to the Level Payment Commencement Date, the Borrower shall pay TIFIA Mandatory Debt Service in the amounts set forth in respect of such Semi-Annual Payment Date on Exhibit G, as the same may be revised as provided in Section 7 (Outstanding TIFIA Loan Balance; Revisions to Exhibit G and Loan Amortization Schedule), which payments shall be made in accordance with Section 9(g) (Manner of Payment).

• Debt Service Reserve AccountBorrower shall maintain a Debt Service Reserve Account in an amount equal to three months of Mandatory Debt Service payable under the Facilities.

• If the aggregate amount in the Mandatory Debt Service Reserve Fund 2018 exceeds the principal of the outstanding indebtedness due, or to become due, any excess may be used for any lawful School District purpose.

• Debt Service Coverage Ratio The Debt Service Coverage Ratio (“DSCR”) for a particular period will be calculated on a quarterly basis as the ratio of (a) Net Cash Flow for the twelve-month period ending on the respective calculation date to (b) Mandatory Debt Service for the twelve-month period ending on the respective calculation date.

• On each Semi-Annual Payment Date commencing on the Level Payment Commencement Date, the Borrower shall pay TIFIA Mandatory Debt Service in the amount of one hundred percent (100%) of the Fixed Level Payment, which payments shall be made in accordance with Section 9(e) (Fixed Level Payments) and Section 9(g) (Manner of Payment).

More Definitions of Mandatory Debt Service

Mandatory Debt Service means, for any applicable period, the sum of (i) regularly scheduled Senior Debt Service plus (ii) regularly scheduled Issuer Debt Service (treating all Base Interest as due in cash except to the extent otherwise provided in the Projections).

Mandatory Debt Service means, for any period, the sum of all scheduled interest, premium, if any, and principal due and payable during such period in respect of all Indebtedness of the Issuer; provided that fees, including any consent fees, payable in connection with the issuance of any Additional Senior Indebtedness shall be excluded.

Mandatory Debt Service means, for any period, the sum of all interest, Make-Whole Premium, if any, premium, if any, and principal due and payable during such period in respect of all Debt of the Issuer; provided that (i) fees, including consent fees, payable in connection with the issuance of any Additional Senior Debt and (ii) any capitalized interest relating to Additional Senior Debt which is paid solely with a portion of the proceeds of such Additional Senior Debt, shall be excluded. For the avoidance of doubt, any costs incurred and payments made by the Issuer in connection with the termination of certain Interest Rate Agreements at or around the Closing Date shall not be included in the calculation of Mandatory Debt Service.

Mandatory Debt Service means with respect to any Payment Date occurring on or after the Debt Service Payment Commencement Date the portion of interest unconditionally required to be paid on the TIFIA Loan on such Payment Date pursuant to Section 9(b).

Mandatory Debt Service means, for any applicable period, the sum of (a) all interest on the Loans payable by the Borrower during such period, (b) all fees payable by the Borrower to the Lenders, the Administrative Agent, the Issuing Bank, and the Collateral Agent during such period, (c) any payments constituting net Hedging Obligations payable by the Borrower (or less net amounts payable to the Borrower) during such period and (d) all interest and other mandatory payments during such period in respect of any other Indebtedness of the Borrower and its Subsidiaries.

Mandatory Debt Service means Mandatory Secured Debt Service and/or Mandatory Unsecured Debt Service, as applicable.

Mandatory Debt Service for any period means all scheduled interest (including Additional Interest) and principal payments and fees payable during such period in respect of the Bonds.