Reserve Fund Requirement means (i) on any Payment Date other than a Payment Date described in clause (ii), an amount equal to 0.50% of the Aggregate Securitization Value of the 2012-1 Leases as of the Cutoff Date or (ii) on any Payment Date occurring on or after the date on which the Note Balance has been reduced to zero, zero.
Reserve Fund Requirement has the meaning set forth in the Indenture.
Reserve Fund Requirement. With respect to any Distribution Date, the greater of (i) the Targeted Overcollateralization Amount for such date minus the Overcollateralization Amount for such date and (ii) zero.
Examples of Reserve Fund Requirement in a sentence
In the event that Bonds are issued hereafter in the manner provided by this Bond Ordinance, the payments into the Reserve Fund shall continue, or if the said payments have ceased because of the accumulation of the maximum amount provided above, then such payments shall be resumed, until such time as there has been accumulated in the Reserve Fund an amount of money equal to the Reserve Fund Requirement.
More Definitions of Reserve Fund Requirement
Reserve Fund Requirement means (i) on any Payment Date other than a Payment Date described in clause (ii), an amount equal to [____]% of the Aggregate Securitization Value of the 20[__]-[__] Leases as of the Cutoff Date or (ii) on any Payment Date occurring on or after the date on which the Note Balance has been reduced to zero, zero.
Reserve Fund Requirement means, at any time, an amount equal to the greatest amount established as such in any Supplemental Resolution, which may be expressed as a percentage of Outstanding Bonds, as a stated dollar amount, or in any other manner. In calculating the Reserve Fund Requirement, all Bonds to be redeemed or defeased by a series of Refunding Bonds shall be deemed not Outstanding as of the date of calculation.
Reserve Fund Requirement means as of any date of calculation, a sum equal to one- half of the maximum principal and interest requirements for any succeeding Bond Year on the Bonds. The Reserve Fund Requirement for any issue(s) of Additional Parity Bonds shall be defined in the ordinance(s) authorizing the issuance of such Additional Parity Bonds.
Reserve Fund Requirement means the amount which is equal to the average annual principal and interest requirements on the Bonds, the Previously Issued Senior Lien Bonds and any Additional Bonds at any time outstanding.
Reserve Fund Requirement means, as of any date of calculation, a sum equal to the lesser of (i) 10% of the original proceeds of the Bonds, the Outstanding Parity Bonds and the Additional Parity Bonds, calculated in accordance with applicable Internal Revenue Service regulations, (ii) the maximum principal and interest requirements for any succeeding Bond Year (ending June 1) on the Bonds, the Outstanding Parity Bonds and the Additional Parity Bonds, or
Reserve Fund Requirement means, at any time, an amount equal to (a) 0.75% of the aggregate Principal Amount of Notes then Outstanding, or (b) such other lesser or greater amount specified as the Reserve Fund Requirement in another supplemental indenture; provided, however, that in no event shall the amount on deposit be less than $500,000.
Reserve Fund Requirement means, as of any particular date of computation, the amount of money designated as the minimum capital reserve fund requirement as established by the resolution of the authority authorizing the issuance of or by the trust indenture securing any issue of bonds.