Sinking Fund Requirement definition

Sinking Fund Requirement means each annual scheduled contribution to a Sinking Fund for the redemption, at or prior to maturity, of Sinking Fund Bonds of a Series. The Authority may apply or credit against any Sinking Fund Requirement the principal amount of any Bonds to which that Sinking Fund Requirement applies (or, to the extent permitted by Series Resolution, other Bonds) that have been purchased or redeemed and not previously so applied or credited.

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Sinking Fund Requirement means, for any calendar year, the principal amount and

Sinking Fund Requirement means, for any Fiscal Year, the principal portion (and required redemption premium, if any) of any Term Bond that is required to be purchased, redeemed, or paid at maturity, as established in the applicable Loan Agreement or bond purchase contract.

Examples of Sinking Fund Requirement in a sentence

• If by 10:00 a.m., Puerto Rico time, on the second Business Day prior to each Interest Payment Date, Eligible Moneys on deposit to the credit of the Bond Fund are not sufficient to pay interest on and principal of (whether at maturity, redemption, by acceleration or in satisfaction of the Sinking Fund Requirement therefor) the Bonds on such Interest Payment Date, the Trustee shall transfer moneys deposited in the Debt Service Reserve Fund to the Bond Fund to the extent necessary to cover such insufficiency.

• Each Bond so delivered, or previously redeemed, or purchased and canceled, shall be credited by the Trustee at 100% of the principal amount thereof against the designated or then current Mandatory Sinking Fund Requirement (and corresponding mandatory redemption obligation) for the series of Bonds so delivered.

• A credit against the then current Mandatory Sinking Fund Requirement (and corresponding mandatory redemption obligation) of a series of Bonds shall be received by the Authority for any Bonds of the same series and maturity, which prior thereto have been redeemed (other than through the operation of the Mandatory Sinking Fund Requirements) or purchased for cancellation and canceled by the Trustee, to the extent not applied theretofore as a credit against any redemption obligation.

• Year Sinking Fund Requirement $ *Maturity Year Sinking Fund Requirement $ *Maturity Whenever Certificates subject to mandatory prepayment are purchased, paid (other than pursuant to mandatory prepayment) or delivered by the City to the Trustee for cancellation, the principal amount of the Certificates so retired shall satisfy and be credited against the mandatory prepayment requirements for such Certificates for such years as the City may direct.

• That option shall be exercised by the Authority, on or before the 45th day preceding the applicable mandatory redemption date, by furnishing the Trustee a certificate, signed by an Authorized Officer setting forth the extent of the credit to be applied and the Mandatory Sinking Fund Requirement to be credited.

More Definitions of Sinking Fund Requirement

Sinking Fund Requirement means, with respect to the Term Bonds, if any, for any Bond Year, the principal amount fixed or computed as provided in the Series Certificate for the retirement of the Term Bonds by purchase or redemption on July 1 of the following Bond Year.

Sinking Fund Requirement means, for any Fiscal Year, the principal

Sinking Fund Requirement means, as of any particular date of calculation, with respect to the Term Bonds of any Series and maturity, the amount of money required to be applied on any applicable date to the redemption prior to maturity or the purchase of those Bonds. Sinking Fund Requirements may be established as fixed dollar amounts or by formula.

Sinking Fund Requirement means, as of any particular Withdrawal Date in a particular Bond Year and with respect to all Bonds Outstanding on such date, an amount of money equal to all prior Sinking Fund Installments then due and unpaid plus that portion of the Sinking Fund Installment for Outstanding Bonds due and payable on such Sinking Fund Installment Date, as the case may be, as shall be determined by Supplemental Resolution of the Authority or by a duly executed Certificate of Authority Officer.

Sinking Fund Requirement means, with respect to the Series 2019 Bonds that are Term Bonds, if any, for any Bond Year, the principal amount fixed or computed for retirement by purchase or redemption on or prior to June 1 of the following Bond Year.

Sinking Fund Requirement means, for any fiscal year or calendar year, the principal amount of Term Bonds required to be purchased, redeemed or paid at maturity in such year as established by the ordinance of the City authorizing the issuance of such Term Bonds.

Sinking Fund Requirement means, for any Fiscal Year, the amount