Accumulation of Debt Service Sample Clauses

Accumulation of Debt Service. 19 (a) Capital Payment Dates. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 (b) Notices. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 (c) Establishment of Debt Service Account and Reserve Account. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 (d) Depositing of Borrowings for Lenders Fees and Expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 (e) Depositing of Borrowings for Interest. . . . . . . . . . . . . . . . . . . . . . . . . . . 21 (f) Depositing of Borrowings for Special Payments. . . . . . . . . . . . . . . . . . . . . . . 21 (g) Depositing of Borrowing for Regular Reserve Account. . . . . . . . . . . . . . . . . . . . 21 (h) Depositing of Borrowings for Selected Qualified Bank. . . . . . . . . . . . . . . . . . . . 21 (i) Depositing of Source of Debt Service Before Amortization Period. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 (j) Depositing of Source of Debt Service in Loan Account and Special Payment Account During Amortization Period. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 (k) Depositing of Source of Debt Service in Reserve Account, Mandatory Prepayment Account and Payment Account During Amortization Period . . . . . . . . . . . . . . . . . . . . . . . . 23 (l)
Sample 1
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Accumulation of Debt Service. (a) The Loan Agreement shall provide that all payment dates for payment of principal and interest thereunder shall be uniform dates within each calendar quarter, subject to any option provided for in the Loan Agreement permitting the borrower thereunder to elect Interest Periods for the calculation of interest which are six months in length and which end on the same calendar quarter date (each such date ending a three-month or six-month Interest Period for payment of principal or interest, a "Capital Payment Date").
Sample 1

Related to Accumulation of Debt Service

  • Debt Service The provisions of this Section 3.9 regarding disbursements shall include the payment of debt service related to any mortgages of the Property, unless otherwise instructed in writing by Owner.

  • Debt Service Reserve Account The Debt Service Reserve Account shall have been funded (or credited with funds), to the extent required, in an amount equal to the Debt Service Reserve Required Amount in accordance with the Depositary Agreement.

  • Debt Service Reserve Reserved.

  • Monthly Debt Service Payments Borrower shall pay to Lender (a) on the Closing Date, an amount equal to interest only on the outstanding principal balance of the Loan for the initial Accrual Period and (b) on September 1, 2010, and on each Payment Date thereafter up to and including the Maturity Date, the Monthly Debt Service Payment Amount, which payments shall be applied first to accrued and unpaid interest and the balance to principal.

  • Calculation of CP Costs On the third Business Day immediately preceding each Settlement Date, each Conduit shall calculate the aggregate amount of its Conduit Costs for the related Settlement Period and shall notify Seller of such aggregate amount.

  • Determination of Applicable Interest Rate As soon as practicable on each Interest Rate Determination Date, Bank shall determine (which determination shall, absent manifest error in calculation, be final, conclusive and binding upon all parties) the interest rate that shall apply to the LIBOR Advances for which an interest rate is then being determined for the applicable Interest Period and shall promptly give notice thereof (in writing or by telephone confirmed in writing) to Borrower.

  • Interest Coverage Ratio The Borrower will not permit the Interest Coverage Ratio to be less than 2.75 to 1.0 on the last day of any Fiscal Quarter.

  • Application of Earnings Each Borrower undertakes with the Lenders that money from time to time credited to, or for the time being standing to the credit of, its Earnings Account shall, unless and until an Event of Default shall have occurred (whereupon the provisions of Clause 17.1 shall be and become applicable), be available for application in the following manner:

  • Interest Coverage Account (a) No later than the Closing Date, the Trustee shall establish and maintain a segregated trust account that is an Eligible Account, which shall be titled "Interest Coverage Account, ____________________, as Trustee for the registered holders of Long Beach Securities Corp., [__] Floating Rate Mortgage Pass-Through Certificates, Series ____-___" (the "Interest Coverage Account"). The Trustee shall, promptly upon receipt, deposit in the Interest Coverage Account and retain therein the Interest Coverage Amount remitted on the Closing Date to the Trustee by the Depositor. Funds deposited in the Interest Coverage Account shall be held in trust by the Trustee for the Certificateholders for the uses and purposes set forth herein.

  • RECONCILIATION OF RESERVE ACCOUNT Beginning Reserve Account Balance Reserve Account Deposits Made Reserve Account Draw Amount Ending Reserve Account Balance Change in Reserve Account Balance Specified Reserve Balance

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