TIFIA Debt Service Reserve Required Balance definition

TIFIA Debt Service Reserve Required Balance means [__________].
Sample 1Sample 2Sample 3
TIFIA Debt Service Reserve Required Balance means, as of any date, an amount equal to fifty percent (50%) of the principal and interest payments on the TIFIA Loan due and payable during the then-current Borrower Fiscal Year.
Sample 1Sample 2Sample 3
TIFIA Debt Service Reserve Required Balance means, as of any date of determination, the greater of (a) the amount of TIFIA Mandatory Debt Service due and payable during the then-current Borrower Fiscal Year or (b) the largest amount of TIFIA Mandatory Debt Service payable in any of the succeeding four (4) Borrower Fiscal Years after the then-current Borrower Fiscal Year.
Sample 1Sample 2

Examples of TIFIA Debt Service Reserve Required Balance in a sentence

  • The Borrower shall maintain the Senior Debt Service Reserve Account in an amount equal to the Senior Debt Service Reserve Required Balance and the TIFIA Debt Service Reserve Account in an amount equal to the TIFIA Debt Service Reserve Required Balance, in each case in accordance with the provisions of this Agreement and the applicable Indenture Documents.

  • The Borrower shall maintain the Senior Bonds Debt Service Reserve Account in an amount equal to the Senior Bonds Debt Service Reserve Account Requirement, the TIFIA Loans Debt Service Reserve Account in an amount equal to the TIFIA Debt Service Reserve Required Balance, and the Junior Bonds Debt Service Reserve Account in an amount equal to the Junior Bonds Debt Service Reserve Account Requirement, in each case in accordance with the provisions of this Agreement and the applicable Indenture Documents.

  • Any amounts on deposit in the TIFIA Debt Service Reserve Sub-Account in excess of the TIFIA Debt Service Reserve Required Balance (including as a result of funding of the TIFIA Debt Service Reserve Sub- Account with an Acceptable Letter of Credit) shall, subject to Section 5.20(d), be deposited into the Revenue Account for application pursuant to Section 5.03.

  • The Borrower shall fail to fund the TIFIA Loans Debt Service Reserve Account on or before the Debt Service Payment Commencement Date, in an amount equal to the TIFIA Debt Service Reserve Required Balance applicable as of the Debt Service Payment Commencement Date.

  • The Borrower shall maintain the Senior Debt Service Reserve Account in an amount equal to the Senior Debt Service Reserve Required Balance and the TIFIA Debt Service Reserve Account in an amount equal to the TIFIA Debt Service Reserve Required Balance, in each case in accordance with the provisions of the Collateral Agency Agreement.


More Definitions of TIFIA Debt Service Reserve Required Balance

TIFIA Debt Service Reserve Required Balance means, (a) on the SC Milestone Payment Date, $[•], and (b) as of any date of determination thereafter, an amount equal to one hundred percent (100%) of TIFIA Debt Service that will become due and payable by the Borrower in the six (6) consecutive months following such date of determination.
Sample 1
TIFIA Debt Service Reserve Required Balance means, as of any date prior to the Substantial Completion Date, the amount reflected for such date in Exhibit B under the column entitled “TIFIA Debt Service Reserve Required Balance,” provided that as of the earlier to occur of the Debt Service Payment Commencement Date and the Substantial Completion Date, the amount of the TIFIA Debt Service Reserve Required Balance shall be an amount equal to ten percent (10%) of the outstanding principal amount of the TIFIA Loan as of such date.
Sample 1
TIFIA Debt Service Reserve Required Balance means (a) from the Effective Date through, but not including, [December 30, 2023], $[•], (b) from and including [December 30, 2023] through, but not including [June 29, 2024], $[•], and (c) from and including [June 29, 2024], the greater of (i) the amount of TIFIA Mandatory Debt Service due and payable during the then-current Borrower Fiscal Year or (ii) the largest amount of TIFIA Mandatory Debt Service payable in any of the succeeding four (4) Borrower Fiscal Years after the then-current Borrower Fiscal Year.
Sample 1
TIFIA Debt Service Reserve Required Balance means, (a) on the Milestone 5 Payment Date, $7,331,079.32, and (b) as of any date of determination thereafter, an amount at least equal to one hundred percent (100%) of the TIFIA Debt Service that will become due and payable by the Borrower in the six (6) consecutive months following such date of determination.
Sample 1
TIFIA Debt Service Reserve Required Balance means an amount equal to the maximum annual TIFIA Debt Service in respect of any Borrower Fiscal Year during the term of the TIFIA Loan as set forth in Schedule IV and as described in Section 16(k)(ii).
Sample 1
TIFIA Debt Service Reserve Required Balance means, as of any date prior to the Substantial Completion Date, the amount reflected in Exhibit B-1 under the column entitled “TIFIA Debt Service Reserve Required Balance” as of the most recent December 31st prior to such date (or, if less, ten percent (10%) of the Outstanding TIFIA Loan Balance as of such December 31st date); provided, that as of the earlier to occur of the Debt Service Payment Commencement Date and the Substantial Completion Date, the amount of the TIFIA Debt Service Reserve Required Balance shall at all times be an amount equal to ten percent (10%) of the Outstanding TIFIA Loan Balance as of any date of measurement.
Sample 1

Related to TIFIA Debt Service Reserve Required Balance

  • Debt Service Reserve Requirement means, as of any date of calculation, and for any Fiscal Year, the amount equal to the maximum Adjusted Aggregate Debt Service on Bonds in the current or any future Fiscal Year on all Bonds Outstanding; provided, however, that if, upon the issuance of a Series of Bonds, such amount would require moneys, in an amount in excess of the maximum amount permitted under the Code to be deposited therein from the proceeds of such Bonds, to be deposited therein, the Debt Service Reserve Requirement shall mean an amount equal to the sum of the Debt Service Reserve Requirement immediately preceding issuance of such Bonds and the maximum amount permitted under the Code to be deposited therein from the proceeds of such Bonds, as certified by an Authorized Representative of the Authority; provided, further, that, if (i) the payment of the Principal Installments of or interest on any Series of Bonds or portion thereof is secured by a Special Credit Facility, (ii) the payment of the Tender Option Price of any Option Bond of a Series is secured by a Special Credit Facility or (iii) the Authority has determined in a Supplemental Resolution authorizing the issuance of a Series of Bonds that such Series of Bonds will not be secured by the Common Account in the Debt Service Reserve Fund, the Supplemental Resolution authorizing such Series may specify the Debt Service Reserve Requirement, if any, for the Bonds of such Series: provided, further, that if, as a result of the expiration or termination of a Financial Guaranty, a deficiency shall be created in the Debt Service Reserve Fund, the Debt Service Reserve Requirement shall be calculated so as to exclude the amount of such deficiency and the Debt Service Reserve Requirement shall be increased in each of the five Fiscal Years after the date such deficiency was created by an amount equal twenty per centum (20%) of the aforesaid deficiency.For the purpose of calculating the Debt Service Reserve Requirement for any Variable Rate Bonds of a Series, the maximum Adjusted Debt Service on such Series shall be determined by reference to the Pro Forma Bond Issue for the Variable Rate Bonds of such Series set forth in the Supplemental Resolution authorizing such Series.

  • 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.

  • Debt Service Reserve Fund Requirement means, with respect to the 2023 Series B Bonds and as of each determination date, an amount equal to maximum annual debt service on the 2023 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.

  • Debt Service Reserve Account shall have the meaning given to it in the Depository Agreement.

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

  • Eurodollar Reserve Requirement means, at any time, the maximum rate at which reserves (including, without limitation, any marginal, special, supplemental, or emergency reserves) are required to be maintained under regulations issued from time to time by the Board of Governors of the Federal Reserve System (or any successor) by member banks of the Federal Reserve System against "Eurocurrency liabilities" (as such term is used in Regulation D). Without limiting the effect of the foregoing, the Eurodollar Reserve Requirement shall reflect any other reserves required to be maintained by such member banks with respect to (i) any category of liabilities which includes deposits by reference to which the Eurodollar Rate is to be determined, or (ii) any category of extensions of credit or other assets which include Eurodollar Loans. The Eurodollar Rate shall be adjusted automatically on and as of the effective date of any change in the Eurodollar Reserve Requirement.

  • Specified Reserve Fund Balance means, on the Closing Date $3,846,153.85, and with respect to any Payment Date 0.25% of the initial aggregate principal balance of the Receivables as of the Cutoff Date.

  • Required Accumulation Reserve sub-Account Amount means, with respect to any Monthly Period during the Accumulation Reserve Funding Period, an amount equal to (i) 0.5% of the Outstanding Dollar Principal Amount of the Class A(2019-1) Notes as of the close of business on the last day of the preceding Monthly Period or (ii) any other amount designated by the Issuer; provided, however, that if such designation is of a lesser amount, the Note Rating Agencies shall have provided prior written confirmation that a Ratings Effect will not occur with respect to such change.

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

  • Debt Service Ratio means for any period the Modified Cash NOI for all consolidated and unconsolidated properties of the Operating Partnership based on its share (determined on a proportional ownership basis based upon the Operating Partnership’s ownership (direct or indirect) in each of its Subsidiaries and Joint Ventures) divided by Debt Service.

  • LIBOR Reserve Requirement means, for any LIBOR Loan or Bid Rate Loan, the average maximum rate at which reserves (including any marginal, supplemental or emergency reserves) are required to be maintained during the Interest Period for such LIBOR Loan or Bid Rate Loan under Regulation D by member banks of the Federal Reserve System in New York City with deposits exceeding One Billion Dollars ($1,000,000,000) against "Eurocurrency liabilities" (as such term is used in Regulation D). Without limiting the effect of the foregoing, the LIBOR Reserve Requirement shall also reflect any other reserves required to be maintained by such member banks by reason of any Regulatory Change against (1) any category of liabilities which includes deposits by reference to which the LIBOR Base Rate is to be determined as provided in the definition of "LIBOR Base Rate" in this Section 1.01 or (2) any category of extensions of credit or other assets which include loans the interest rate on which is determined on the basis of rates referred to in said definition of "LIBOR Base Rate".

  • LIBOR Reserve Requirements for any day as applied to a LIBOR Loan, the aggregate (without duplication) of the maximum rates (expressed as a decimal fraction) of reserve requirements in effect on such day (including, without limitation, basic, supplemental, marginal and emergency reserves under any regulations of the Board of Governors of the Federal Reserve System or other Governmental Authority having jurisdiction with respect thereto) dealing with reserve requirements prescribed for eurocurrency funding (currently referred to as "Eurocurrency Liabilities" in Regulation D of such Board) maintained by a member bank of such Federal Reserve System.

  • Primary Reserve Requirement means the megawatts required to be maintained in a Reserve Zone or Reserve Sub-zone as Primary Reserve, absent any increase to account for additional reserves scheduled to address operational uncertainty. The Primary Reserve Requirement is calculated in accordance with the PJM Manuals.

  • Loss Reserve Ratio means, for any Calculation Period, the product of (a) the Stress Factor, (b) the highest three-month average, during the twelve-month period ending on the most recent Month End Date, of the Default Ratio and (c) the Loss Horizon Ratio for such Calculation Period.

  • Eurodollar Rate (Reserve Adjusted) means, with respect to any Settlement Period and any portion of the Capital, a rate per annum (rounded upwards, if necessary, to the nearest 1/100 of 1%) determined pursuant to the following formula: Eurodollar Rate = Eurodollar Rate (Reserve Adjusted) 1 - Eurodollar Reserve Percentage where:

  • Required Overcollateralization Amount With respect to any Distribution Date, (a) prior to the Stepdown Date, an amount equal to 1.80% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date, (b) on or after the Stepdown Date if a Trigger Event is not in effect, the greater of (i) an amount equal to 3.60% of the aggregate outstanding Stated Principal Balance of the Mortgage Loans after giving effect to distributions made on that Distribution Date and (ii) the Overcollateralization Floor and (c) on or after the Stepdown Date if a Trigger Event is in effect, an amount equal to the Required Overcollateralization Amount from the immediately preceding Distribution Date. The Required Overcollateralization Amount may be reduced so long as written confirmation is obtained from each Rating Agency that such reduction shall not reduce the ratings assigned to any Class of Certificates by such Rating Agency below the lower of the then-current rating or the rating assigned to such Certificates as of the Closing Date by such Rating Agency. Residential Funding: Residential Funding Corporation, a Delaware corporation, in its capacity as seller of the Mortgage Loans to the Depositor and any successor thereto.

  • Required Reserve Fund Amount With respect to any Distribution Date on which the Net Excess Spread is less than 0.25%, the amount, if any by which (a) the product of 1.00% and the Pool Balance for such date exceeds (b) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. With respect to any Distribution Date on which the Net Excess Spread is equal to or greater than 0.25%, the amount, if any, by which (i) $1,000 exceeds (ii) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. Provided, however, that on any Distribution Date on which the Class Principal Amount of each Class of LIBOR Certificates has been reduced to zero, the Required Reserve Fund Amount shall be zero.

  • Yield Supplement Overcollateralization Amount means, with respect to any calendar month and the related Payment Date, or with respect to the Closing Date, the aggregate amount by which the Principal Balance as of the last day of the related Collection Period or the Cutoff Date, as applicable, of each of the related Receivables with an APR as stated in the related contract of less than the Required Rate, other than Defaulted Receivables, exceeds the present value, calculated by using a discount rate equal to the Required Rate, of each scheduled payment of each such Receivables assuming such scheduled payment is made on the last day of each month and each month has 30 days.

  • Reserve Requirement means, with respect to an Interest Period, the maximum aggregate reserve requirement (including all basic, supplemental, marginal and other reserves) which is imposed under Regulation D on Eurocurrency liabilities.

  • Required Reserve Factor Floor means, for any Calculation Period, the sum (expressed as a percentage) of (a) 12.5% plus (b) the product of the Adjusted Dilution Ratio and the Dilution Horizon Ratio, in each case, as of the most recent Cut-Off Date.

  • Cash Flow Available for Debt Service for any period, means (i) Cash Flow received during such period minus (ii) (A) all O&M Costs paid during such period and (B) if an Equity Cure has been made in any fiscal quarter during the period for which Cash Flow Available for Debt Service is calculated, the lesser of the aggregate amount of (x) such Equity Cure during such period and (y) the aggregate amount of cash distributions paid by the Company during such period.

  • 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.

  • 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.

  • Targeted Accumulation Reserve Subaccount Deposit means, with respect to any Distribution Date during the Accumulation Reserve Funding Period, an amount equal to (i) [0.5]% of the Outstanding Dollar Principal Amount of the Class A( - ) Notes as of the close of business on the last day of the related Due Period or (ii) any other amount designated by the Calculation Agent on behalf of the Issuer.]