Maximum Annual Debt Service Requirement means, at any given time of determination, the greatest amount of principal, interest and Amortization Installments coming due in any current or future Bond Year with regard to the Series of Bonds for which such calculation is made; provided, the amount of interest coming due in any Bond Year shall be reduced to the extent moneys derived from the proceeds of Bonds are used to pay interest in such Bond Year.
Maximum Annual Debt Service Requirement means the maximum annual Debt Service Requirement for any Fiscal Year.
Maximum Annual Debt Service Requirement means the maximum Annual Debt Service Requirement in the then current or any succeeding Fiscal Year.
Examples of Maximum Annual Debt Service Requirement in a sentence
The Town shall not incur any Included Debt unless the amount of Legally Available Non-Ad Valorem Revenues during the Fiscal Year of the Town most recently concluded prior to the incurrence of such Included Debt and for which audited financial statements of the Town are available, adjusted as hereinafter provided, equals or exceeds 125% of the Maximum Annual Debt Service Requirement on all Included Debt, including the proposed debt.
More Definitions of Maximum Annual Debt Service Requirement
Maximum Annual Debt Service Requirement means, with respect to any Long-Term Indebtedness, the maximum Debt Service Requirement for any one Fiscal Year during the remaining life of such Long-Term Indebtedness.
Maximum Annual Debt Service Requirement means the highest Debt Service Requirement for the then current or any succeeding Fiscal Year.
Maximum Annual Debt Service Requirement means, at any given time of determination with respect to the Bonds, or any series thereof, an amount equal to the maximum Annual Debt Service Requirement coming due thereon for the then current or any future Fiscal Year.
Maximum Annual Debt Service Requirement means, at any time, the highest Annual Debt Service Requirement occurring in the current or any succeeding Fiscal Year.
Maximum Annual Debt Service Requirement means the highest Annual Debt Service Requirement becoming due and payable in any Fiscal Year including the Fiscal Year in which the calculation is made or any subsequent Fiscal Year; provided that for the purposes of computing Maximum Annual Debt Service Requirement:
Maximum Annual Debt Service Requirement means, with respect to any Bonds, the maximum Debt Service Requirements on such Bonds in the current or any succeeding Fiscal Year of the Corporation; provided, however, that in making such determination, the amount of principal and interest payable on any Bonds in any Fiscal Year of the Corporation shall be reduced by any amount which will be released during such Fiscal Year from the Debt Service Reserve Fund as a result of the amortization of the Bonds in such Fiscal Year or a prior Fiscal Year.
Maximum Annual Debt Service Requirement means (1) for purposes of computing the Debt Service Reserve Fund Requirement, the greatest Debt Service Requirements on all aggregate Reserve-Secured Bonds Outstanding in the then current or any future Fiscal Year, other than the Debt Service Requirements on the 2007A Bonds for the twelve (12) month period ending October 1, 2041; provided that the Maximum Annual Debt Service Requirement for any Long-Term Indebtedness shall be disregarded for any period during which the interest on such Long-Term Indebtedness is funded from the proceeds thereof; and (2) for purposes of computing the Debt Service Coverage Ratio shall be such amount described in (1) above including all 2007B Bonds.