TIFIA Mandatory Debt Service definition

TIFIA Mandatory Debt Service means (a) with respect to any Semi-Annual Payment Date occurring on or after the Debt Service Payment Commencement Date and prior to the Level Payment Commencement Date, the principal portion of the Outstanding TIFIA Loan Balance and any interest payable thereon (including interest accruing after the date of any filing by the Borrower of any petition in bankruptcy or the commencement of any bankruptcy, insolvency or similar proceeding with respect to the Borrower), in each case, (i) designated as “TIFIA Mandatory Debt Service” on Exhibit G and (ii) due and payable on such Semi-Annual Payment Date in accordance with the provisions of Section 9(c) (Payment of TIFIA Mandatory Debt Service), and which shall be unconditionally required to be paid on such Semi-Annual Payment Date, and (b) with respect to any Semi-Annual Payment Date occurring on or after the Level Payment Commencement Date, the entire amount of each Fixed Level Payment required to be paid pursuant to Section 9(e) (Fixed Level Payments).
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TIFIA Mandatory Debt Service means with respect to any Semi-Annual Payment Date occurring on or after the Debt Service Payment Commencement Date, the principal portion of the Outstanding TIFIA Loan Balance and any interest payable thereon, in each case, (a) designated as “TIFIA Mandatory Debt Service” on Exhibit G and (b) due and payable on such Semi-Annual Payment Date in accordance with the provisions of Section 9(b), and which shall be unconditionally required to be paid on such Semi-Annual Payment Date.
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TIFIA Mandatory Debt Service means the portion of a TIFIA Loan which is unconditionally required to be paid in accordance with, and pursuant to, the terms of such TIFIA Loan Agreement, as of the date of calculation of TIFIA Mandatory Debt Service (assuming, for purposes of projected debt service, that the full amount of such TIFIA Loan will be disbursed).
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Examples of TIFIA Mandatory Debt Service in a sentence

  • On each Semi-Annual Payment Date occurring on or after the Debt Service Payment Commencement Date and prior to the Level Payment Commencement Date, the Borrower shall pay TIFIA Mandatory Debt Service in the amounts set forth in respect of such Semi-Annual Payment Date on Exhibit G, as the same may be revised as provided in Section 7 (Outstanding TIFIA Loan Balance; Revisions to Exhibit G and Loan Amortization Schedule), which payments shall be made in accordance with Section 9(g) (Manner of Payment).

  • On each Semi-Annual Payment Date commencing on the Level Payment Commencement Date, the Borrower shall pay TIFIA Mandatory Debt Service in the amount of one hundred percent (100%) of the Fixed Level Payment, which payments shall be made in accordance with Section 9(e) (Fixed Level Payments) and Section 9(g) (Manner of Payment).

  • On each Semi-Annual Payment Date occurring on or after the Level Payment Commencement Date, the Borrower shall pay TIFIA Mandatory Debt Service in the amount of one hundred percent (100%) of the Fixed Level Payment, which payments shall be made in accordance with Section 9(e) (Fixed Level Payments) and Section 9(g) (Manner of Payment).

  • Annual Debt Service in respect of the TIFIA Loan shall include TIFIA Mandatory Debt Service and TIFIA Scheduled Debt Service with respect to the applicable time period.

  • Any such prepayment shall be applied first to payments of TIFIA Scheduled Debt Service and second to payments of TIFIA Mandatory Debt Service.

  • On each Semi-Annual Payment Date occurring on or after the Debt Service Payment Commencement Date, the Borrower shall pay TIFIA Mandatory Debt Service in the amounts set forth in respect of such Semi-Annual Payment Date on Exhibit G hereto, which payments shall be made in accordance with Section 9(e).

  • Amounts in the Sweep Fund shall be used solely to ensure timely payment and, as provided in Section 10(a) (Mandatory Prepayments), prepayment of Senior Lien Obligations and Second Lien Obligations, including TIFIA Mandatory Debt Service and TIFIA Scheduled Debt Service.

  • The Borrower may make any such payment or portion thereof (or direct the Trustee to make such payment) with funds then on deposit in the TIFIA Series 2014 Interest Account and the TIFIA Series 2014 Principal Account in connection with TIFIA Mandatory Debt Service and in the TIFIA Prepayment Account, Airports Authority Account or Set-Aside Account as set forth in Section 9(c)(iii) in connection with the payment of TIFIA Debt Service other than TIFIA Mandatory Debt Service.

  • On each Semi-Annual Payment Date occurring on or after the Level Payment Commencement Date, the Borrower shall pay TIFIA Debt Service in the amount of one hundred percent (100%) of the Fixed Level Payment, which payments shall constitute TIFIA Mandatory Debt Service and shall be made in accordance with this Section 9(e) and Section 9(h) (Manner of Payment).

  • Notwithstanding anything to the contrary herein, upon the occurrence of a Bankruptcy Related Event with respect to the Borrower, all TIFIA Debt Service shall be treated as TIFIA Mandatory Debt Service for all purposes under the TIFIA Loan Documents and Indenture Documents.


More Definitions of TIFIA Mandatory Debt Service

TIFIA Mandatory Debt Service means with respect to any Semi-Annual Payment Date occurring on or after the Debt Service Payment Commencement Date, the principal portion of the Outstanding TIFIA Series 2014 Bonds and any interest payable thereon, in each case, (a) designated as “TIFIA Mandatory Debt Service” on Exhibit G to the TIFIA Loan Agreement and
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TIFIA Mandatory Debt Service means, with respect to any Semi-Annual Payment Date occurring on or after the Debt Service Payment Commencement Date, the portion of the principal of the Outstanding TIFIA Loan Balance and the interest payable on such Outstanding TIFIA Loan Balance, or portion thereof, (including interest accruing after the date of any filing by the Borrower of any petition in bankruptcy or the commencement of any bankruptcy, insolvency or similar proceeding with respect to the Borrower), in each case, (a) designated as “TIFIA Mandatory Debt Service” on Exhibit G (or that becomes payable as TIFIA Mandatory DebtService as a result of an election by the Borrower pursuant to Section 9(c) (Early Debt Service Payment Commencement Date)) and (b) due and payable on such Semi-Annual Payment Date in accordance with the provisions of Section 9(c) (Payment of TIFIA Mandatory Debt Service), and which shall be unconditionally required to be paid on such Semi-Annual Payment Date.
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TIFIA Mandatory Debt Service has the meaning set out in the TIFIA Loan Agreement. “TIFIA Scheduled Debt Service” has the meaning set out in the TIFIA Loan Agreement. “Tolling Agreement” means (a) the Managed Lanes Tolling Services Agreement dated May 7, 2015 between the Transportation Enterprise and E-470 Public Highway Authority, as it may be amended or extended from time-to-time in accordance with its terms or (b) any subsequent tolling agreement entered into by the Transportation Enterprise pursuant to Section 4.20 of the Master Indenture.
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TIFIA Mandatory Debt Service means with respect to any TIFIA PaymentDate occurring on or after the TIFIA Debt Service Payment Commencement Date, the portion of the principal of the Outstanding Obligation in the form of the TIFIA Loan then due and payable on such Payment Date and any interest then due and payable on such Obligation (including interest accruing after the date of any filing by the Authority of any petition in bankruptcy or the commencement of any bankruptcy, insolvency or similar proceeding with respect to the Authority) on such TIFIA Payment Date that is designated as TIFIA Mandatory Debt Service pursuant to the terms of the TIFIA Loan Agreement and is required to be paid on such TIFIA Payment Date.
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Related to TIFIA Mandatory Debt Service

  • 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.

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

  • 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.

  • 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.

  • 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.

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

  • 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 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.

  • 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.

  • Required Pro Forma Note Balance means, with respect to any Distribution Date, a dollar amount equal to (x) the Pool Balance as of the end of the prior calendar month minus (y) the excess of (i) 14.75% of the Pool Balance as of the end of the prior calendar month over (ii) the Specified Reserve Balance.

  • Consolidated Debt Service Coverage Ratio means, as of any date of determination, the ratio of (a) the sum of (i) Consolidated EBITDA for the most recently completed four fiscal quarters minus (ii) income taxes payable for such period minus (iii) Consolidated Capital Expenditures for such period to (b) the sum of (i) Consolidated Interest Charges for such period plus (ii) Consolidated Scheduled Funded Debt Payments for such period.

  • 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.

  • S&P Recovery Rate With respect to a Collateral Obligation, the recovery rate set forth in Section 1 of Schedule 4 using the Initial Rating of the most senior Class of Secured Notes Outstanding at the time of determination.

  • Debt Service Coverage Ratio means a ratio for the applicable period in which:

  • 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.

  • Moody’s Recovery Rate With respect to any Collateral Obligation, as of any date of determination, the recovery rate determined in accordance with the following, in the following order of priority:

  • 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.

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

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

  • Prepayment Charge Period As to any Mortgage Loan, the period of time during which a Prepayment Charge may be imposed.

  • Consolidated Scheduled Funded Debt Payments means, as of any date for the applicable period ending on such date with respect to the Borrower Parties on a consolidated basis, the sum of all scheduled payments of principal on Consolidated Funded Indebtedness made during such period (including the implied principal component of payments made on Capitalized Leases during such period) as determined in accordance with GAAP.

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

  • Monthly Debt Service Payment Amount means, for each Monthly Payment Date, an amount equal to the amount of interest which is then due on all the Components of the Loan in the aggregate for the Interest Period during which such Monthly Payment Date occurs.

  • 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.