Maximum Annual Debt Service definition

Maximum Annual Debt Service means the largest Annual Debt Service for any Bond Year after the calculation is made through the final maturity date of any Outstanding Bonds.
Maximum Annual Debt Service means the maximum amount of Debt Service Requirements as computed for the then current or any future Fiscal Year; provided that the Debt Service Requirements in the final Stated Maturity of any series of Utility Indebtedness shall be reduced by the value of cash and Permitted Investments on deposit in the Bond Reserve Subaccount for such series, so long as the Bond Reserve Subaccount for such Utility Indebtedness is maintained at the Bond Reserve Requirement.
Maximum Annual Debt Service means, as of the date of determination, the maximum annual Debt Service, as computed for the then current or any future Fiscal Year.

Examples of Maximum Annual Debt Service in a sentence

  • Until payment of the unamortized portion (or provision for payment pursuant to Section 11.1) Maximum Annual Debt Service shall be calculated by treating the useful life of the Project, on a level annual Debt Service basis, with interest payable semiannually at a rate equal to the net interest cost of the Series.


More Definitions of Maximum Annual Debt Service

Maximum Annual Debt Service means, as of the date of any calculation, the largest Annual Debt Service during the current or any future Bond Year.
Maximum Annual Debt Service means the maximum amount of Debt Service due on System Obligations in a Fiscal Year during the period commencing with the Fiscal Year for which such calculation is made and within the next five years in which Debt Service for any System Obligations will become due.
Maximum Annual Debt Service means, at the time of calculation, the maximum amount of Annual Debt Service that will mature or come due in the current calendar year or any future year with respect to the then-outstanding Parity Bonds.
Maximum Annual Debt Service means as of any date of calculation the highest principal and interest payment requirements with respect to all Outstanding Bonds for any succeeding Bond Year except the Bond Year in which the Bonds mature and the year in which any mandatory tender for purchase of the Bonds occurs.
Maximum Annual Debt Service means an amount of money equal to the highest future principal and interest requirement of all Outstanding Bonds required by this ordinance in any Bond Year (i.e., each January 2 to the next January 1 period), including and subsequent to the Bond Year in which the computation is made; and any Outstanding Bonds required to be redeemed pursuant to mandatory redemption shall be treated as falling due on the date required to be redeemed (except in the case of failure to make any such mandatory redemption) and not on the stated maturity date of such Outstanding Bonds.
Maximum Annual Debt Service means the maximum sum obtained for any Bond Year prior to the final maturity of the Bonds and any Parity Bonds by adding the following for each Bond Year:
Maximum Annual Debt Service means the largest Annual Debt Service for any Bond Year, including the Bond Year in which the calculation is made.