Required Debt Service Reserve Amount as of any date of determination, the projected Debt Service for the six months next succeeding such date.
Required Debt Service Reserve Amount means as of any date on and after the Project Completion Date, an amount projected by the Common Security Trustee equal to the amount necessary to pay the forecasted Debt Service in respect of Secured Debt (other than Working Capital Debt) from such date through (and including) the next two (2) Payment Dates (which shall, if not already included, include the maturity date under any Secured Debt (other than Working Capital Debt)) (assuming that no Default will occur during such period) taking into account, with respect to interest, the amount of interest that would accrue on the aggregate principal amount of the Advances for the next six (6) months; provided, that for purposes of calculation of the amount specified in clause (c) of the definition of Debt Service, any final balloon payment or bullet maturity of Secured Debt shall not be taken into account and instead only the equivalent of the principal payment on the immediately preceding Payment Date prior to such balloon payment or bullet maturity shall be taken into account.
Required Debt Service Reserve Amount means as of any date on and after the Term Conversion Date, an amount projected by the Agent equal to the amount necessary to pay the forecasted Debt Service in respect of Secured Obligations from the immediately preceding (or if the date of calculation is a Principal Payment Date, such) Principal Payment Date (or the Term Conversion Date, if there has not yet been a Principal Payment Date) through (and including) the next Principal Payment Date (assuming that no Default will occur during such period taking into account, with respect to interest, the amount of Interest Expense that would accrue on the aggregate principal amount of the Loans for the next six months.
Examples of Required Debt Service Reserve Amount in a sentence
The Supplemental Resolution providing for the issuance of such Additional Bonds shall provide for the deposit to the Debt Service Reserve Account in the amount necessary to satisfy the Required Debt Service Reserve Amount for the Additional Bonds.
Interest earnings, if any, on investments made of money in the Debt Service Reserve Account, to the extent that such earnings result in a balance in the Debt Service Reserve Account in excess of the Required Debt Service Reserve Amount, (1) may, at the Port’s option, be transferred on each valuation date for such investments to the Project Fund; otherwise (2) shall be transferred on each valuation date for such investments to the Debt Service Account.
Guarantee of Fort Union’s Debt Service Reserve obligations Terminates on earliest of: (i) the Termination Date, (ii) the payment by Guarantor of amount equal to the Supplemental Guarantee Cap (i.e., six-months debt service) and (iii) the election to terminate by the Guarantor, provided the Required Debt Service Reserve Amount (i.e., six-months debt service) is otherwise on deposit.
More Definitions of Required Debt Service Reserve Amount
Required Debt Service Reserve Amount means, as of any date of determination, an amount equal to all Debt Service over the next six (6) month period following such date of determination.
Required Debt Service Reserve Amount shall have the meaning given to it in the Depository Agreement.
Required Debt Service Reserve Amount means (a) on the Closing Date, $25,603,537.34, and (b) as of any Quarterly Transfer Date, the amount equal to the scheduled Debt Service due and payable under the Financing Documents for the following six-month period (excluding, under all circumstances, any such amounts due and payable on the Term Loan Maturity Date and the Revolving Termination Date).
Required Debt Service Reserve Amount means as of any date on and after the Project Completion Date, an amount projected by the Common Security Trustee equal to the amount necessary to pay the forecasted Debt Service in respect of Secured Debt from such date through (and including) the next two (2) Payment Dates (which shall, if not already included, include the maturity date under any Secured Debt) (assuming that no Default will occur during such period) taking into account, with respect to interest, the amount of interest that would accrue on the aggregate principal amount of the Advances for the next six (6) months; provided, that for purposes of calculation of the amount specified in clause (c) of the definition of Debt Service, any final balloon payment or bullet maturity of Secured Debt shall not be taken into account and instead only the equivalent of the principal payment on the immediately preceding Payment Date prior to such balloon payment or bullet maturity shall be taken into account.
Required Debt Service Reserve Amount means, the Tranche A Required Debt Service Reserve Amount and/or the Tranche B Required Debt Service Reserve Amount, as the context may require.
Required Debt Service Reserve Amount means, as of any date, an amount reasonably projected by the Administrative Agent (such amount and supporting calculations advised by the Administrative Agent to the Borrower at least five (5) Business Days prior to such date) equal to the amount necessary to pay the forecasted Debt Service in respect of Term Loans through (and including) the next six (6) month period (assuming that no Default will occur during such period and taking into account, with respect to interest, the maximum amount of interest that could accrue during any six month period from the date of calculation to the Final Maturity Date).
Required Debt Service Reserve Amount has the meaning assigned to such term in the Disbursement Agreement.