Principal and Interest Requirements definition

Principal and Interest Requirements means the respective amounts which are required in each Fiscal Year to provide:

Principal and Interest Requirements for any Payment Date or for any period means the sum of the Principal Requirements and the Interest Requirements for such date or such period, respectively.

Principal and Interest Requirements for any Fiscal Year means the sum of the Principal Requirements and Interest Requirements for such Fiscal Year.

Examples of Principal and Interest Requirements in a sentence

• NVTC may make such covenants as it may in its sole discretion determine to be appropriate with any Bond Credit Provider or DSRF Provider that shall agree to provide for Bonds of any one or more Series a Bond Credit Facility or a DSRF Credit Facility that shall enhance the security or the value of such Bonds and thereby reduce the Principal and Interest Requirements on such Bonds or substitute for amounts in the Related Debt Service Reserve Fund.

• HRTAC may make such covenants as it may in its sole discretion determine to be appropriate with any Bond Credit Provider or DSRF Provider that shall agree to provide for Bonds of any one or more Series a Bond Credit Facility or a DSRF Credit Facility that shall enhance the security or the value of such Bonds and thereby reduce the Principal and Interest Requirements on such Bonds or substitute for amounts in the Related Debt Service Reserve Fund.

• For purposes of this covenant, Debt Coverage Ratio means Net Revenues Available for Debt Service of the Borrower for a Fiscal Year divided by the Principal and Interest Requirements for such Fiscal Year.

• On each date on which any Specified Period Principal and Interest Requirements are payable, the Trustee shall apply moneys in the Specified Period Defeasance Fund to pay the Specified Period Principal and Interest Requirements that are payable on such date.

• The transfer of moneys from the Reserve Account to the Specified Period Defeasance Fund in accordance with Section 510A hereof shall constitute an irrevocable deposit of such moneys in trust solely for the purpose of paying the Specified Period Principal and Interest Requirements, and such moneys will not constitute property of the Authority.

More Definitions of Principal and Interest Requirements

Principal and Interest Requirements means for any Fiscal Year the amount required to pay the interest on and principal of (whether pursuant to a stated maturity or redemption requirements applicable thereto) all outstanding Parity Obligations becoming due in such Fiscal Year. In calculating Principal and Interest Requirements the principal and interest coming due in any Fiscal Year on any Parity Obligations which bear interest at a variable rate which cannot be predetermined shall be assumed to be that which would come due if (i) the interest rate on such Parity Obligations for the applicable period was the interest rate that was in effect on the last day of the immediately preceding Fiscal Year (or, if such Parity Obligations were issued during the current Fiscal Year, then the first interest rate in effect for such Parity Obligations) and (ii) the principal amortization schedule would be that which would result in substantially level debt service throughout the remaining term of such Parity Obligations assuming such interest rate. In calculating Principal and Interest Requirements, if any such outstanding Parity Obligations do not pay current interest during the term to maturity thereof, but rather accrete in value according to a schedule, the principal and interest coming due on any such Parity Obligation shall be calculated as equal to the accreted value at maturity.

Principal and Interest Requirements means, for any fiscal year, as applied to the bonds of any Series issued under the 1974 Agreement, the sum of:

Principal and Interest Requirements means, with respect to any Fiscal Year, the respective amounts of principal of and interest on all outstanding Permanent University Fund Obligations scheduled to be paid in such Fiscal Year from the Available University Fund Share. If the rate or rates of interest to be borne by any Additional Parity Obligations or Subordinate Lien Obligations is not fixed, but is variable or adjustable by any formula, agreement, or otherwise, and therefore cannot be calculated as actually being scheduled to be paid in a particular amount for any particular period, then for the purposes of the previous sentence, such Additional Parity Obligations or Subordinate Lien Obligations shall be deemed to bear interest at all times to maturity or due date at the lesser of (i) the maximum rate then permitted by law or (ii) the maximum rate specified in such Additional Parity Obligations or Subordinate Lien Obligations.

Principal and Interest Requirements. - shall mean the amount required in each Fiscal Year, beginning with the Fiscal Year of the first maturity or mandatory sinking fund redemption of such Bonds, to pay the principal or redemption price of and the interest on all such Bonds which become due and payable in such Fiscal Year; all such computations shall be made by a Commission Official under the provisions of Section 906. In computing the Principal and Interest Requirements, the amount of any capitalized interest shall be deducted therefrom and any debt service reserve fund established in connection with the Bonds in question shall, to the extent that it is funded with cash or Permitted Investments and is available to pay the final year's debt service on such Bonds, be credited against such final year's Principal and Interest Requirements. To the extent any Bonds under consideration bear interest at a variable rate the Principal and Interest Requirements for such Bonds shall be calculated assuming an interest rate equal to the average PSA Municipal Swap Index published for the corresponding rate period by Munifacts Wire System, Inc. (or its successor) during the preceding Fiscal Year or, at the option of the Commission, the actual interest rate on such Bonds during the preceding Fiscal Year.

Principal and Interest Requirements for any Bond Year means the sum of the Principal Requirements and Interest Requirements for such Bond Year.

Principal and Interest Requirements for any fiscal year, as applied to the Bonds of any Series, shall mean the sum of:

Principal and Interest Requirements means for any Bond Year (or Fiscal Year, as the case may be) the sum of the amount required to pay principal of, to fund any Sinking Fund Requirement for, and to pay the interest on Bonds, other than from the proceeds of Bonds.