Examples of Servicing Reserve in a sentence
Shortfall undertaking/ Undertaking towards maintaining Debt Servicing Reserve Account (DSRA) or maintaining desired Debt Service Coverage Ratio (DSCR) by an external entitySome structures have a Debt Service Reserve Account (DSRA) funded to the extent of the debt repayment scheduled for next one or two quarters (interest payment and principal repayment) through the tenure of the debt.
HUD staff will document that a property will have the RFR releases administered by the lender in the Integrated Real Estate Management System (iREMS) e.g. on the Servicing Reserve Tracking screen.
Balance, December 31, 2010Roads Rehabilitation Capital Reserve Fund $13,435,231Cycling Paths Reserve Fund$ 667,803Land Servicing$ 34,788Highway Servicing Reserve Fund$ 10,316Total$14,148,138Projected Balance, December 31, 2011$ 6,027,000Projected Balance, December 31, 2012$ 6,461,000Projected Balance, December 31, 2013 $ 6,090,000 Committed Applications:Future balances have been earmarked to fund Roads and Traffic base program capital expenditures.
The breaches are the failure to maintain the minimum sum in the Debt Servicing Reserve Account and certain financial ratios.
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