Minimum Debt Service Reserve Requirement definition

Minimum Debt Service Reserve Requirement means, on any date, scheduled principal plus interest payable on the Notes on the two Payment Dates following such date.

Minimum Debt Service Reserve Requirement is defined in the Depositary Agreement.

Minimum Debt Service Reserve Requirement means, as of a given date, the amount of Debt Service due and payable over the following 6 month period.

Examples of Minimum Debt Service Reserve Requirement in a sentence

• Contemporaneously with the Closing, the Company shall deposit or cause to be deposited the Minimum Debt Service Reserve Requirement in the Debt Service Reserve Account.

• No later than the Closing Date, the Borrower shall deposit or cause to be deposited into the Debt Service Reserve Account (through the delivery to the Collateral Agent of the DSR Letter of Credit, from the Revenue Account pursuant to Section 7.3(b) or otherwise) an amount equal to the Minimum Debt Service Reserve Requirement calculated as of the Closing Date.

• If the funds on deposit in the Debt Service Reserve Account are greater than the Minimum Debt Service Reserve Requirement, any such excess funds shall be transferred by the Securities Intermediary pursuant to a direction from the Borrower and the Administrative Agent to the Revenue Account for application pursuant to Section 7.3(b) (including as a distribution pursuant to clause (vii) thereof to the extent such funds are not needed to pay Debt Service in accordance with clause (b) above).

• The Debt Service Reserve Account is fully funded with and/or supported by (or by a combination of): (i) cash deposited into the Debt Service Reserve Account in an amount equal to all or a portion of the Minimum Debt Service Reserve Requirement and (ii) the DSR Letter of Credit has been delivered to the Collateral Agent in an amount equal to all or a portion of the Minimum Debt Service Reserve Requirement.

• The Issuer will apply the proceeds of the sale of the Notes to (a) pay transaction expenses and third party fees, (b) fund the Debt Service Reserve Account in the amount of the Minimum Debt Service Reserve Requirement, the Maintenance Reserve Account in the amount of $1,807,890 and the Raft River Capital Expenditure Account in the amount of $3,000,000 and (c) fund the Closing Date Distribution.

More Definitions of Minimum Debt Service Reserve Requirement

Minimum Debt Service Reserve Requirement means $4,000,000, as of the Closing. After the Closing, the Minimum Debt Service Reserve Requirement shall be reduced by an amount equal to 10% of the principal amount of any prepayments of the Notes pursuant to Section 8.

Minimum Debt Service Reserve Requirement means an amount equal to scheduled principal and interest payments on the Notes for (a) prior to the successful extension of the RRG-2 Well, the 12-month period following such date, and (b) following the successful extension of the RRG-2 Well, the 6-month period following such date; provided that at the Closing the amount shall equal $1,799,841. For the purposes of the Minimum Debt Service Reserve Requirement, a successful extension of the RRG-2 Well means that the RRG-2 Well contributes at least an additional $500,000 to the annual cash flow of the Raft River Project Company.

Minimum Debt Service Reserve Requirement means, as of the Conversion Date, and for each Repayment Date thereafter, as applicable, an amount not to exceed the maximum amount of principal and interest payments under the Note issued by Borrower in favor of Lender during the following six (6) months and all fees projected with respect thereto (as reflected in the Conversion Date Base Case Model).

Minimum Debt Service Reserve Requirement in Schedule B of the Existing Note Purchase Agreement is hereby amended in its entirety to read as follows:

Minimum Debt Service Reserve Requirement means (i) $3,000,000 through and including May 30, 2015, (ii) $4,500,000 from and including May 31, 2015 through and including January 30, 2016, (iii) $6,000,000 from and including January 31, 2016 through and including August 30, 2016, and (iv) $7,500,000 thereafter.

Minimum Debt Service Reserve Requirement means $1,594,437.

Minimum Debt Service Reserve Requirement means $3,000,000.