Debt Service Reserve Fund. Pursuant to the Debt Service Reserve Fund Agreement, establish and maintain a debt service reserve fund with Lender equal to approximately three (3) months of debt service payments with respect to the Note as reasonably estimated by Lender, rounded upward to the nearest One Thousand Dollars ($1,000).
Debt Service Reserve Fund. Unless a Qualified Reserve Fund Substitute shall be in effect, the District shall reimburse the 2011 Trust Agreement Debt Service Reserve Fund for any loss resulting from a decline in the value of Investment Obligations in which money held for the credit of the 2011 Trust Agreement Debt Service Reserve Fund is invested if on any date of valuation the amount on deposit in the 2011 Trust Agreement Debt Service Reserve Fund is less than the 2011 Trust Agreement Debt Service Reserve Fund Requirement. Such reimbursement shall be made by depositing in the 2011 Trust Agreement Debt Service Reserve Fund on a monthly basis an amount equal to one- sixth (1/6) of such loss commencing in the month following a valuation made in accordance with Section 603 hereof in which such a loss is computed. The District Representative shall give to the Trustee written directions respecting the investment of any money required to be invested hereunder, subject, however, to the provisions of this Article, and the Trustee shall then invest such money under this Section 602 as so directed by the District Representative. The Trustee may request, in writing, direction or authorization of the District Representative with respect to the proposed investment of money under the provisions of this Trust Agreement. Upon receipt of such request, accompanied by a memorandum setting forth the details of any proposed investment, the District Representative will either approve such proposed investment or will give written directions to the Trustee respecting the investment of such money and, in the case of such directions, the Trustee shall then, subject to the provisions of this Article, invest such money in accordance with such directions. The Trustee may conclusively rely upon the District’s written instructions as to both the suitability and legality of all investments directed under this Trust Agreement. Ratings of investments, to the extent such ratings affect the permissibility of a proposed investment for purposes of this Trust Agreement, shall be determined at the time of purchase of such investments and without regard to ratings subcategories. The Trustee shall have no responsibility to monitor the ratings of investments after the initial purchase of such investments. The Trustee may make any and all such investments through its own investment department or that of its affiliates or subsidiaries, and may charge its ordinary and customary fees for such trades. Notwithstanding anything that...
Debt Service Reserve Fund. (a) (1) The Trustee shall deposit to the credit of the Debt Service Reserve Fund such proceeds of the sale of Bonds, if any, as shall be prescribed in the Supplemental Indenture authorizing the issuance of such Series of Bonds. If at any time the amount in the Debt Service Reserve Fund is not at least equal to the Debt Service Reserve Fund Requirement, the Corporation shall have no obligation to maintain or restore the Debt Service Reserve Fund to the Debt Service Reserve Fund Requirement other than as expressly provided in this Indenture.
Debt Service Reserve Fund. If provided for on Schedule I, Borrower shall pay to Lender on the Closing Date an amount equal to the Debt Service Reserve Deposit which shall be deposited into an account which shall be referred to as a “
Debt Service Reserve Fund. No reserve or replacement fund has been established for the Bonds.
Debt Service Reserve Fund. MRWPCA and MPWMD agree to equally fund the debt service reserve fund required for the SRF loan. MRWPCA agrees to invest the debt reserve fund in an interest-bearing account agreeable to both parties. MRWPCA agrees to remit to MPWMD one half of the interest earned on an annual basis through the final maturity of the SRF loan. Upon maturity of the SRF loan, MRWPCA agrees to remit to MPWMD one half of the debt reserve fund.
Debt Service Reserve Fund. (a) The Borrower hereby agrees to establish and maintain, so long as the Loan remains unpaid, a debt service reserve account with the Lead Lender (the “Debt Service Reserve Fund”) in an amount equal to the Debt Service Reserve Fund Requirement to be applied as hereinafter set forth.
Debt Service Reserve Fund. Pursuant to the Debt Service Reserve Fund Agreement, establish and maintain a debt service reserve fund with Lender equal to approximately ninety (90) days of debt service payments with respect to the Note as reasonably estimated by Lender, rounded upward to the nearest One Thousand Dollars ($1,000).
Debt Service Reserve Fund. (a) The Debt Service Reserve Fund shall be held by the Trustee for the benefit of the Bonds. If available moneys in the Debt Service Fund shall be insufficient to pay in full the interest on and principal of any Bonds becoming due on any Interest Payment Date, Principal Payment Date or any date on which Bonds have been called for redemption, the Trustee shall transfer an amount equal to the deficiency, from the Debt Service Reserve Fund to the Debt Service Fund for such purpose unless the Authority shall, by an Officer’s Certificate delivered to the Trustee prior to the Interest Payment Date, designate one or more Funds or Accounts from which an amount equal to the deficiency in the Debt Service Fund is required to be transferred to the Debt Service Fund.
Debt Service Reserve Fund. In the event an Agency fails to pay any obligation required to be paid to Washoe County under this Agreement in excess of 90 days from the date the obligation was required to be paid, that Agency shall be deemed to be in default under this Agreement.
