Rolling Coverage Amount definition

Rolling Coverage Amount has the meaning set forth in the Master Bond Resolution.
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Rolling Coverage Amount means the amount which may, in the City’s discretion, be deposited in the Rolling Coverage Account in order for the City to have on deposit therein with respect to any Annual Debt Service due and payable in the current Fiscal Year on Outstanding Subordinate Obligations, an amount not to exceed fifteen percent (15%) of such Annual Debt Service. The Rolling Coverage Amount is in addition to the Senior Rolling Coverage Amount that may be deposited to the Rolling Coverage Account from time to time.
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Examples of Rolling Coverage Amount in a sentence

  • Other Available Funds hereby pledged include the following: (1) the Rolling Coverage Amount, (2) [all monies in the Surplus Revenue Fund, together with any additional uncommitted balance of the General Revenue Fund on the first day of each Fiscal Year], and (3) all CFC Revenues in an amount not to exceed to Annual Debt Service on the 2011B Bonds.

  • Other Available Funds hereby pledged include the following: (1) the Rolling Coverage Amount, (2) [all monies in the Surplus Revenue Fund, together with any additional uncommitted balance of the General Revenue Fund on the first day of each Fiscal Year], and (3) all CFC Revenues in an amount not to exceed Annual Debt Service on the 2011B Bonds.

Related to Rolling Coverage Amount

  • Interest Coverage Amount The amount to be paid by the Depositor to the Trustee for deposit into the Interest Coverage Account on the Closing Date pursuant to Section 4.08, which amount is $____________.

  • Fraud Loss Coverage Amount As of the Closing Date, $4,743,244, subject to reduction from time to time by the aggregate amount of Fraud Losses that would have been previously allocated to the Subordinate Certificates in the absence of the Loss Allocation Limitation since the Cut-off Date. In addition, the Fraud Loss Coverage Amount will be reduced as follows:

  • Initial Bankruptcy Coverage Amount $100,000.

  • Bankruptcy Loss Coverage Amount As of any date of determination, the Bankruptcy Loss Coverage Amount shall equal the Initial Bankruptcy Loss Coverage Amount as reduced by (i) the aggregate amount of Bankruptcy Losses allocated to the Certificates since the Cut-off Date and (ii) any permissible reductions in the Bankruptcy Loss Coverage Amount as evidenced by a letter of each Rating Agency to the Trustee to the effect that any such reduction will not result in a downgrading, qualification or withdrawal of the then current ratings assigned to the Classes of Certificates rated by it.

  • Initial Bankruptcy Loss Coverage Amount $226,715.