Parity Debt Service definition

Parity Debt Service means, for any Fiscal Year, the sum of: (1) the principal and interest due and payable during such Fiscal Year for all outstanding Parity Debt, and (2) annual fees, if any, under Parity Debt.

Parity Debt Service means, for any period of twelve consecutive months, the Debt Service Requirement with respect to Parity Indebtedness.

Parity Debt Service means, with respect to any Parity Obligation for any period of calculation, those portions of the payments of interest on and principal and redemption premiums, if any, required to be made during such period under such Parity Obligation, less any such interest that is to be paid from proceeds of such Parity Obligation, less the earnings to be derived from the investment of moneys on deposit in debt service reserve funds and capitalized interest funds established for such Parity Obligation; provided, that for purposes of the calculation of Parity Debt Service, the following shall apply:

Examples of Parity Debt Service in a sentence

• At the direction of the City, without notice to or consent of the owners of the 2015A Junior Bonds and the Series 2017D Junior Bonds, the Junior Lien Parity Reserve Fund may secure additional Junior Obligations and the Junior Lien Parity Debt Service Reserve Requirement may be modified to the extent necessary to reflect on an aggregate basis the principal amount and annual debt service requirements of the Junior Obligations to be secured by the Junior Lien Parity Reserve Fund.

• At the direction of the City, without notice to or consent of the owners of the Series 2018 Bonds, the Senior Lien Parity Reserve Fund may secure additional Senior Obligations and the Senior Lien Parity Debt Service Reserve Requirement may be modified to the extent necessary to reflect on an aggregate basis the principal amount and annual debt service requirements of the Senior Lien Obligations to be secured by the Senior Lien Parity Reserve Fund.

• Application of Series 2021 Bond Proceeds and Parity Debt Service Reserve Fund.

• At the time of the issuance of any Future Parity Bonds, the County must have on file a certificate from a Professional Utility Consultant (the certificate may not be dated more than 90 days prior to the date of delivery of such Future Parity Bonds) showing that the “annual income available for revenue bond debt service” for each year during the life of such Future Parity Bonds will be at least equal to 1.25 times the amount required in each such year to pay the Annual Parity Debt Service for such year.

• The County agrees to cause to be created within the Parity Debt Service Fund established pursuant to the Indenture an account for the payment of the Bond.

More Definitions of Parity Debt Service

Parity Debt Service means the principal of and interest on, or lease rentals for, any Parity Obligations which are leases, the principal of and interest on any Parity Obligations which are bonds, the payment of BOT payments for any Parity Obligation, and any fiscal agency charges associated with such Parity Obligations and the collection of Tax Increment for the Parity Obligations.

Parity Debt Service means for any period of twelve consecutive months the sum of the amounts required to be deposited in the Parity Debt Service Fund during the period pursuant to the Master Indenture with respect to Parity Indebtedness.

Parity Debt Service has the meaning set forth in the Installment Purchase Contract. “Parity Obligations” has the meaning set forth in the Installment Purchase Contract. “Participant” has the meaning set forth in Section 9.06(b) hereof.

Parity Debt Service means, for any period of calculation,

Parity Debt Service for any period, the sum of (i) total interest expense accrued of the Borrower, Holdings and the Subsidiary Guarantors in respect of Parity Debt for such period (including all commissions, discounts and other fees and charges owed with respect to letters of credit and bankers’ acceptance financing and net costs or benefits under Swap Agreements in respect of interest rates relating to Parity Debt to the extent such net costs or benefits are allocable to such period in accordance with IFRS), and (ii) all scheduled principal payments required to be made by the Borrower, Holdings and the Subsidiary Guarantors on Parity Debt for such period; provided that for purposes of the Additional Parity Debt incurrence test set forth in Section 6.3, the interest payments in respect of outstanding floating rate Parity Debt (unless such floating rate debt is subject to a Swap Agreement that effectively fixes the interest rate with respect to such floating rate Parity Debt) shall be calculated using the floating interest rate as of the date of calculation.

Parity Debt Service means, for any Fiscal Year, the sum of:

Parity Debt Service means, for any period, the sum of (i) total interest expense accrued of MAPL and the other Guarantors in respect of Parity Debt for such period (including all commissions, discounts and other fees and charges owed with respect to letters of credit and bankers’ acceptance financing and net costs or benefits under hedging agreements in respect of interest rates to the extent such net costs or benefits are allocable to such period in accordance with IFRS), and (ii) all scheduled principal payments required to be made by MAPL and the other Guarantors on Parity Debt for such period; provided that for purposes of the Additional Parity Debt incurrence test set forth in clause (c) of the Negative Covenants, the interest payments in respect of outstanding floating rate Parity Debt (unless such floating rate debt is subject to a hedging obligation that effectively fixes the interest rate with respect to such floating rate Parity Debt) shall be calculated using the floating interest rate that is set as of the date of calculation.