Subordinate Lien Debt Service Fund definition

Subordinate Lien Debt Service Fund means the Series 2013 Subordinate Lien Debt Service Fund and any other fund established pursuant to a Supplemental Indenture in accordance with the provisions of Section 8.2(a)(1)(F) for the payment of Debt Service on Subordinate Lien Obligations.
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Subordinate Lien Debt Service Fund means the fund created and so designated by Section 4.3.
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Subordinate Lien Debt Service Fund means the Subordinate Lien Debt Service Fund established pursuant to Section 504(a) of, and as defined in, the Indenture.
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Examples of Subordinate Lien Debt Service Fund in a sentence

  • Junior Subordinate Lien Debt Service Fund - means the special trust fund so designated and established in Section 5.1 of the Master Debt Resolution.

  • On the day of receipt, the Trustee is required to withdraw that money and to make deposits to three debt service funds in amounts equal to the Accrued Aggregate Debt Service on the Obligations of each lien ranking, beginning first with the Senior Lien Debt Service Fund, then the Senior Subordinate Lien Debt Service Fund, and finally the Junior Subordinate Lien Debt Service Fund, before any monies are released to us for other uses.

  • This Policy applies to all the financial assets of the Authority including: - Pledged Revenue Fund- Senior Lien Debt Service Fund- Senior Lien Reserve Fund- Subordinate Lien Debt Service Fund- Subordinate Lien Reserve Fund- Project Fund- Rebate Fund Other funds received by the Authority are included under this Policy unless specifically excluded by the Authority Board.

  • On the day of receipt, the Trustee is required to withdraw that money and to make deposits to three debt service funds inamounts equal to the Accrued Aggregate Debt Service on the Obligations of each lien ranking, beginning first with the Senior Lien Debt Service Fund, then the Senior Subordinate Lien Debt Service Fund, and finally the Junior Subordinate Lien Debt Service Fund, before any monies are released to us for other uses.

  • As at 31 December 2017, a prepayment of RMB45,000,000 was paid to the contractor in accordance with the terms of the construction agreement.

  • Amounts to be paid on or with respect to Senior Lien Obligations pursuant to this Section 7.4 shall be paid only from the Senior Lien Debt Service Fund, amounts to be paid on or with respect to Senior Subordinate Lien Obligations pursuant to this Section 7.4 shall be paid only from the Senior Subordinate Lien Debt Service Fund and amounts to be paid on or with respect to Junior Subordinate Lien Obligations pursuant to this Section 7.4 shall be paid only from the Junior Subordinate Lien Debt Service Fund.

  • Any amounts remaining in the Rebate Fund and not necessary for the payment of amounts to the United States of America in accordance with the Federal Tax Certificate shall be transferred, in accordance with instructions from an Authorized Officer, to the System Expansion and Acquisition Fund, to the Series I Note Proceeds Account, and/or to the Senior Subordinate Lien Debt Service Fund.

  • No assets have been pledged as collateral to secure commercial paper notes except for money accumulated in the Subordinate Lien Debt Service Fund which was $246 as of September 30, 2019.

  • No assets have been pledged as collateral to secure commercial paper notes except for money accumulated in the Subordinate Lien Debt Service Fund which was $198 as of September 30, 2020 and $246 as of September 30, 2019.

  • Upon completion of the Projects, surplus monies remaining in the Series 2017 Construction Account shall be transferred to Subordinate Lien Debt Service Fund and used to pay Debt Service on the Series 2017 Subordinate Lien Bonds.


More Definitions of Subordinate Lien Debt Service Fund

Subordinate Lien Debt Service Fund means the Subordinate Lien Debt Service Fund created in Section 4.01 hereof.
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Related to Subordinate Lien Debt Service Fund

  • Debt Service Fund means the fund so designated in, and created pursuant to, Section 502 hereof.

  • Subordinate Obligations means, collectively, the Subordinate Notes and any Other Subordinate Obligations.

  • Debt Service Reserve Account shall have the meaning assigned to such term in the Depositary Agreement.

  • Debt Service Reserve Fund means the fund by that name established pursuant to the Second Resolution.

  • Subordinate Companion Loan A Companion Loan that, to the extent provided in the related Loan Documents and/or the related Co-Lender Agreement, is generally subordinate in right of payment to the related Split Mortgage Loan. The only Subordinate Companion Loans related to the Trust as of the Closing Date are evidenced by the Notes identified in the Loan Combination Table under the column heading “Subordinate Companion Loan(s),” each of which Notes evidences a separate Subordinate Companion Loan.

  • Net Liquidation Proceeds After Debt Service means, with respect to any Liquidation Event, all amounts paid to or received by or on behalf of Borrower, Senior Mezzanine Borrower or Mortgage Borrower in connection with such Liquidation Event, including, without limitation, proceeds of any sale, refinancing or other disposition or liquidation, less (a) Lender’s, Senior Mezzanine Lender’s and/or Mortgage Lender’s reasonable costs incurred in connection with the recovery thereof, (b) amounts required or permitted to be deducted therefrom and amounts paid pursuant to the Mortgage Loan Documents and Senior Mezzanine Loan Documents to Mortgage Lender and/or Senior Mezzanine Lender (as applicable), (c) in the case of a foreclosure sale, disposition or Transfer of any Individual Property in connection with realization thereon following a Mortgage Loan Event of Default, such reasonable and customary costs and expenses of sale or other disposition (including attorneys’ fees and brokerage commissions), (d) in the case of a foreclosure sale, disposition or Transfer of any Senior Mezzanine Collateral in connection with realization thereon following a Senior Mezzanine Loan Default under any Senior Mezzanine Loan Documents, such reasonable and customary costs and expenses of sale or other disposition (including attorneys’ fees and brokerage commissions), (e) in the case of a foreclosure sale, such costs and expenses incurred by Mortgage Lender under the Mortgage Loan Documents as Mortgage Lender shall be entitled to receive reimbursement for under the terms of the Mortgage Loan Documents, (f) in the case of a foreclosure sale, such costs and expenses incurred by Senior Mezzanine Lender under the Senior Mezzanine Loan Documents as Senior Mezzanine Lender shall be entitled to receive reimbursement for under the terms of the Senior Mezzanine Loan Documents, (g) in the case of a refinancing of the Mortgage Loan and/ Senior Mezzanine Loan, such costs and expenses (including attorneys’ fees) of such refinancing as shall be reasonably approved by Lender, Mortgage Lender and/or Senior Mezzanine Lender, and (h) the amount of any prepayments required pursuant to the Mortgage Loan Documents, Senior Mezzanine Loan Documents and/or the Loan Documents, in connection with any such Liquidation Event.

  • Debt Service Reserve means the reserve for payment of principal and interest on the Bonds, created and established by Sections 502 and 506 of the General Trust Indenture.

  • Subordinate Lender means the person or entity named as such in the first paragraph of this Agreement and any other person or entity who becomes the legal holder of the Subordinate Note after the date of this Agreement.

  • Subordinated Loan has the meaning set forth in Section 1.2(a) of the Agreement.

  • Debt Service Account means the Debt Service Account for General Obligation Temporary Notes, Series 2017-1 (within the Bond and Interest Fund) created pursuant to Section 501 hereof.

  • Subordinate Liquidation Amount For any Distribution Date and each Loan Group, the excess, if any, of the aggregate Liquidation Principal of Mortgage Loans related to that Loan Group which became Liquidated Mortgage Loans during the prior calendar month over the related Senior Liquidation Amount for that Distribution Date.

  • Subordinate Debt means indebtedness secured hereby or by any Supplemental Indenture which is by its terms expressly subordinate and inferior hereto both in lien and right of payment.

  • Subordinated Lenders means each and every Person to whom any of the Subordinated Indebtedness are owed.

  • Subordinate Loan Documents means the Subordinate Note, the Subordinate Mortgage, and all other documents at any time evidencing, securing, guaranteeing, or otherwise delivered in connection with the Subordinate Indebtedness.

  • Subordinated Loans means any loan incurred by the Issuer or any of its Subsidiaries, if such loan (i) according to its terms (or pursuant to a subordination agreement on terms and conditions satisfactory to the Trustee) is subordinated to the obligations of the Issuer under the Terms and Conditions; (ii) according to its terms have a final redemption date or, when applicable, early redemption dates or instalment dates which occur after the Final Redemption Date; and (iii) according to its terms yield only payment-in-kind interest.

  • Subordinate Notes means the B Notes and the C Notes, individually or collectively, as the context may require.

  • Subordinated Lender means each Seller, in its capacity as subordinated lender pursuant to the relevant Subordinated Loan Agreement.

  • Subordinated Loan Documents means at any time the agreements and other documents then governing the Subordinated Indebtedness.

  • Subordination Level On any specified date, with respect to any Class of Class X-X Regular Interests, the percentage obtained by dividing the aggregate Class Principal Balance of such Class and the Classes of Class X-X Regular Interests which are subordinate in right of payment to such Class by the aggregate Class Principal Balance of the REMIC I Regular Interests and the Class R-1 Residual Interest as of such date prior to giving effect to distributions of principal and interest and allocations of Realized Losses on the Mortgage Loans on such date.

  • Debt Service Reduction Mortgage Loan Any Mortgage Loan that became the subject of a Debt Service Reduction.

  • Debt Service Reserve Fund Requirement means, with respect to the 2017 Series B Bonds and as of each determination date, an amount equal to maximum annual debt service on the 2017 Series B Bonds Outstanding from time to time and, with respect to any other Series of Bonds, the amount set forth in the Related Series Indenture.

  • Subordinate Indebtedness means all present and future indebtedness, obligations, and liabilities of Borrower to Subordinate Lender under or in connection with the Subordinate Loan or the Subordinate Loan Documents.

  • Subordinated Loan Agreement means a binding agreement with a Subordinated Debt Provider providing unsecured debt financing for the benefit of the Energy Complex and on terms and conditions that shall satisfy the requirements of the Financing Documents.

  • Senior Subordinated Indebtedness means the Securities and any other Indebtedness of the Company that specifically provides that such Indebtedness is to rank pari passu with the Securities in right of payment and is not subordinated by its terms in right of payment to any Indebtedness or other obligation of the Company which is not Senior Indebtedness.

  • Debt Service means, with respect to any particular period of time, scheduled principal and/or interest payments under the Note.

  • Subordination Percentage With respect to each class of Class A Certificates and Class M Certificates, the respective approximate percentage set forth in the table below: Class Percentage (1) Percentage (2) A 73.250% 78.600% M-1 81.625% 85.300% M-2 88.125% 90.500% M-3 91.500% 93.200% M-4 92.750% 94.200% M-5 94.125% 95.300%