Subordinated Debt Service definition

Subordinated Debt Service means, for any period, as of any date of calculation, an amount equal to the sum of all fees and interest and principal of the Effective Date Subordinated Debt, any Subordinated Refinancing Debt and any Permitted Subordinated Debt accruing and payable during such period as set forth in the Base Case Financial Model (as it may be updated pursuant to the terms of the Funding Documents). In determining the principal amount of the Effective Date Subordinated Debt, any Subordinated Refinancing Debt and any Permitted Subordinated Debt during such period, payment shall be assumed to be made in accordance with any amortization schedule established in respect thereof. Except with respect to Variable Rate Indebtedness, in determining the interest amount on the Effective Date Subordinated Debt, any Subordinated Refinancing Debt and any Permitted Subordinate Debt during such period, payment shall be assumed to be made at the interest rate(s) and on the interest payment dates established in respect thereof and set forth in the Subordinated Loan Agreement or the agreement entered into by the Concessionaire with respect to the incurrence of any Subordinated Refinancing Debt or any Permitted Subordinated Debt. In determining the interest amount on any Subordinated Refinancing Debt or Permitted Subordinated Debt that is incurred as Variable Rate Indebtedness, the Variable Rate Indebtedness Interest Rate Assumption shall apply; provided that if a Permitted Hedging Arrangement has been entered into by the Concessionaire with respect to such Variable Rate Indebtedness, the interest amount on such Variable Rate Indebtedness shall be determined at the rate payable by the Concessionaire as provided by the terms of the Permitted Hedging Arrangement or the net interest rate payable by the Concessionaire pursuant to offsetting indices as set forth in the Permitted Hedging Arrangement.
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Subordinated Debt Service means, for any date, an amount equal ------------------------- to the sum of all regularly scheduled payments of principal, interest, fees and other amounts payable during the period in question by the Borrowers with respect to obligations, contingent or otherwise, subordinate in right of payment to the Borrowers' Obligations including any redeemable common stock.
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Subordinated Debt Service means, for any period, an amount equal to the sum of Third Party Subordinated Debt Service, Affiliated Subordinated Debt Service and Subordinated Working Capital Debt Service for such period.
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Examples of Subordinated Debt Service in a sentence

  • The Financial Guaranties shall be payable (upon the giving of notice as required thereunder) on any date on which moneys will be required to be withdrawn from the applicable Account in the Subordinated Debt Service Reserve Fund and applied to the payment of a Principal Installments of or interest on any Subordinated Bonds and such withdrawal cannot be met by moneys on deposit in the applicable Account.

  • The Trustee shall so call such Subordinated Bonds for redemption whether or not it then has moneys in the Subordinated Debt Service Fund sufficient to pay the applicable Redemption Price thereof on the redemption date.

  • Moneys in the Subordinated Debt Service Fund shall also be transferred to the Note Payment Fund and applied to the payment of interest on notes issued pursuant to Section 208 to the extent provided in any Supplemental Resolution authorizing such notes.

  • Amounts on deposit in each of the Special Accounts in the Subordinated Debt Service Reserve Fund shall be applied, to the extent other funds are not available therefor pursuant to Section 509 of this Resolution, solely to pay the Principal Installments of and interest on the Subordinated Bonds of the Series to which such Special Account relates as and when specified in the applicable Supplemental Resolution.

  • Fifth, to the Subordinated Debt Service Reserve Fund, (i) an amount necessary to increase the amount on deposit in each Series Subaccount of the Common Account to equal the level required by any Supplemental Resolution, and (ii) the deposit required by any Supplemental Resolution to any Special Account.

  • In lieu of the required deposits and transfers to any Account in the Subordinated Debt Service Reserve Fund, the City may cause to be deposited in any such Account Financial Guaranties in an amount equal to the difference between the Subordinated Debt Service Reserve Fund Requirement or Special Account requirement, as applicable, and the sums, if any, then on deposit in such Account or being deposited in such Account concurrently with such Financial Guaranties.

  • The Trustee shall also apply moneys in the Subordinated Debt Service Fund as set forth in Section 507(e) hereof.

  • Amounts on deposit in the Common Account in the Subordinated Debt Service Reserve Fund shall be applied on a pro rata basis, based on the Subordinated Debt Service Reserve Fund Requirement, to the extent other funds are not available therefor pursuant to Section 509 of this Resolution, solely to pay the Principal Installments of and interest on the Subordinated Bonds when due.

  • Any Supplemental Resolution which provides for a Credit Facility to secure the payment of the Principal Installments of and interest on the Secured Bonds authorized thereby or to secure the payment of the Tender Option Price of any Option Bonds authorized thereby, may establish one or more “Special Accounts” in the Debt Service Reserve Fund or the Subordinated Debt Service Reserve Fund.

  • To the Subordinated Debt Service Fund, such portion of the amount required to be deposited therein pursuant to Section 505(a)(iv) as the City shall elect, provided that the amount so transferred shall not exceed the amount permitted by applicable law and provided further that the amount so transferred shall not be less than the amount, if any, provided in the current Operating Budget of the City.

Related to Subordinated Debt Service

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

  • Annual Debt Service as of any date means the maximum amount which is expensed in any 12-month period for interest on Debt of the Company and its Subsidiaries.

  • Subordinated Debt is indebtedness incurred by Borrower subordinated to all of Borrower’s now or hereafter indebtedness to Bank (pursuant to a subordination, intercreditor, or other similar agreement in form and substance satisfactory to Bank entered into between Bank and the other creditor), on terms acceptable to Bank.

  • Consolidated Debt Service means, for any relevant period, the sum (without double counting), determined in accordance with GAAP, of:

  • Subordinated Debt Documents means any documents evidencing and/or securing Debt governed by a Subordination Agreement, all of which documents must be in form and substance acceptable to Agent in its sole discretion. As of the Closing Date, there are no Subordinated Debt Documents.

  • Total Debt Service means the sum of (i) scheduled or other required payments of principal on Indebtedness, and (ii) Interest Expense, in each case for such period.

  • Subordinated Indebtedness Documents means any document, agreement or instrument evidencing any Subordinated Indebtedness or entered into in connection with any Subordinated Indebtedness.

  • Implied Debt Service means, as of any date, the annual debt service that would be required to fully amortize the Consolidated Outstanding Indebtedness as of the calculation date by equal monthly payments over a 25 year amortization period, using an implied interest rate equal to the greater of (A) the yield on 10 year United States Treasury obligations or (B) five percent (5.00%), plus, in either case, two percent (2.00%) per annum.

  • Annual Debt Service Charge as of any date means the amount which is expensed in any 12-month period for interest on Debt of the Company and its Subsidiaries.

  • Debt Service Reduction With respect to any Mortgage Loan, a reduction in the scheduled Monthly Payment for such Mortgage Loan by a court of competent jurisdiction in a proceeding under the Bankruptcy Code, except such a reduction resulting from a Deficient Valuation.

  • Debt Service Charges means for any Measurement Period, the sum of (a) Consolidated Interest Charges paid or required to be paid for such Measurement Period, plus (b) principal payments made or required to be made on account of Indebtedness (excluding the Obligations and any Synthetic Lease Obligations but including, without limitation, Capital Lease Obligations) for such Measurement Period, in each case determined on a Consolidated basis in accordance with GAAP.

  • 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.

  • Aggregate Debt Service means, with respect to any particular period of time, the sum of (a) the Debt Service, (b) the Mortgage Debt Service and (c) the Other Mezzanine Debt Service.

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

  • Subordinated Indebtedness means any Indebtedness of the Borrower or any Subsidiary the payment of which is subordinated to payment of the obligations under the Loan Documents.

  • Pro Forma Debt Service means with respect to the Borrower and the Restricted Subsidiaries, on a consolidated basis, with respect to the next succeeding complete twelve (12) month period following the calculation date, and after giving effect to any Interest Rate Hedge Agreements and Eurodollar Advances, the amount of all (i) scheduled payments of principal on Indebtedness for Money Borrowed for such period (including imputed principal payments with respect to Capitalized Lease Obligations), determined on the basis of the aggregate amount of Indebtedness for Money Borrowed outstanding as of the date of calculation and giving effect to any mandatory reductions in the Commitments and the operation of the other terms of this Agreement (or other instruments or agreements governing Indebtedness for Money Borrowed) during such next succeeding twelve (12) month period, (ii) cash interest payable (including imputed interest with respect to Capitalized Lease Obligations) with respect to Indebtedness for Money Borrowed of such Persons, (iii) fees payable under this Agreement and the other Loan Documents (but specifically excluding fees paid during previous periods but amortized during such period in accordance with GAAP), and (iv) other payments (including fees) payable by such Persons during such period in respect of Indebtedness for Money Borrowed (other than voluntary prepayments under Section 2.7 hereof). For purposes of this definition, where interest payments for the twelve (12) month period immediately succeeding the calculation date are not fixed by way of Interest Rate Hedge Agreements, Eurodollar Advances, or otherwise for the entire period, interest shall be calculated on such Indebtedness for Money Borrowed for periods for which interest payments are not so fixed at the Eurodollar Basis (as determined on the date of calculation and based on the then current adjustment under Section 2.3(f) hereof) for a Eurodollar Advance having an Interest Period of twelve (12) months; provided, however, that if such Eurodollar Basis cannot be determined in the reasonable opinion of the Administrative Agent, such interest shall be calculated using the Base Rate Basis as then in effect.

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

  • 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.

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

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

  • 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.

  • 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 Incentive Fee means the fee payable to the Advisor under certain circumstances if the Shares are Listed, as calculated in Section 8.07.

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

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