Accrued Debt Service means, as of any date of calculation, the amount of Debt Service that has accrued with respect to any Series of Bonds and any related Security Instrument Repayment Obligations, calculating the Debt Service that has accrued with respect to each Series of Bonds and any related Security Instrument Repayment Obligations as an amount equal to the sum of (a) the interest on the Bonds of such Series and on any related Security Instrument Repayment Obligations that has accrued and is unpaid and that will have accrued by the end of the then-current calendar month, and (b) that portion of all Principal Installments payable within the 12-month period following the date of calculation for the Bonds of such Series and on any
Accrued Debt Service means, as of any date of calculation, an amount equal to the sum of the amounts of accrued and unpaid Debt Service, calculating the accrued Debt Service with respect to each obligation to include Debt Service (including interest and Principal Installments) to accrue to the end of the then current calendar month and calculating any Principal Installments to be that portion of any such payments which would accrue during such period if such Principal Installments were deemed to accrue daily in equal amounts from the next preceding Principal Installment due date for such obligations (or, if there is no preceding Principal Installment due date or such preceding Principal Installment due date is more than one year prior to the due date of such Principal Installment, then, from a date one year preceding the due date of such Principal Installment or from the date of issuance of such obligations, whichever date is later). For the purposes of this definition, Principal Installment means, with respect to any obligations the payment of which constitute Debt Service, principal and sinking fund payments and any other such payment obligations not constituting interest or an interest component of such payment obligation.
Accrued Debt Service means, as of any date of calculation, the amount of Debt Service that has accrued with respect to any of the Bonds, calculating the Debt Service that has accrued with respect to the Bonds as an amount equal to the sum of (a) the interest on the Bonds that has accrued and is unpaid and that will have accrued by the end of the then current calendar month and (b) that portion of the principal for all Bonds payable within the 12-month period following the date of calculation for the Bonds that would have accrued (if deemed to accrue in the same manner as interest accrues) by the end of the then current calendar month.
Examples of Accrued Debt Service in a sentence
Retention Procedures At the beginning of each calendar month, the Trustee shall begin to transfer all Revenues from the Collection Account to the Bond Account until the amount in the Bond Account is equal to Accrued Debt Service to the last day of such month.
If at any time the amount held in the Bond Account exceeds Accrued Debt Service, the Trustee shall transfer such excess to the Collection Account as Revenues.
The Water Authority does, however, account for Water Revenues, Maintenance and Operation Costs, Debt Service and Monthly Accrued Debt Service in a manner consistent with and authorized by the General Resolution, and the accounting system employed by the Water Authority enables the Water Authority to calculate Net Water Revenues and to allocate Water Revenues in the priority specified in the General Resolution.
When Bonds of a Series are refunded in whole or in part or are otherwise paid in accordance with the Bond Resolution, moneys may be withdrawn from the Special Redemption Fund to pay or provide for the payment of such Bonds or refunded Bonds, as the case may be; provided that immediately after such withdrawal or transfer there shall be on credit to the Special Redemption Fund an amount equal to the Accrued Debt Service for the Bonds then Outstanding after taking into account such refunding or payment.
For purposes of calculating Debt Service Fund deposits, Principal Installments shall not include amounts that an Authorized Officer has notified the Trustee are to be paid from sources other than Revenues, nor shall Accrued Debt Service include any amounts that, as certified by an Authorized Officer, have been set aside hereunder or otherwise in trust for the payment thereof.
More Definitions of Accrued Debt Service
Accrued Debt Service means, as of any date of calculation, an amount equal to the sum of the amounts of accrued and unpaid Debt Service with respect to all Obligations and Parity Debt, calculating the accrued Debt Service with respect to each obligation at an amount equal to the sum of (i) as estimated by an Authorized Officer, interest on the Obligations and interest components of Parity Debt accrued and unpaid and to accrue to the end of the then current Quarter, and (ii) Principal Installments due and unpaid and that portion of the Principal Installment for such Obligations and Parity Debt next due which would have accrued (if deemed to accrue in the manner set forth in the Resolution) to the end of such Quarter. For purposes of calculating Debt Service Fund deposits, Principal Installments shall not include amounts that an Authorized Officer has notified the Trustee are to be paid from sources other than Gross Revenues, nor shall Accrued Debt Service include any amounts that, as certified by an Authorized Officer, have been set aside under the Resolution or otherwise in trust for the payment thereof.
Accrued Debt Service means, as of any date of calculation, the amount of Debt Service that has accrued with respect to any Series of Senior Bonds or any Series of Junior Indebtedness Obligations, as the case may be, calculating the Debt Service that hasaccrued with respect to such Series of Bonds or Junior Indebtedness Obligations as an amount equal to the sum of (1) the interest on such Series of Bonds or Junior Indebtedness Obligations that has accrued and is unpaid and that will have accrued by the end of the then current calendar month, including, to the extent not otherwise provided in a Supplemental Resolution, all net amounts due and payable by the Authority and all net amounts to accrue to the end of the then current calendar month pursuant to a Qualified Swap or a Qualified Reverse Swap (with respect to Senior Bonds only) or a Parity Reimbursement Obligation; and (2) that portion of the Principal Installments for such Series next due which would be accrued (if deemed to accrue in the manner set forth in the definition of “Debt Service” (as defined in the General Revenue Bond Resolution)) to the end of such calendar month; provided that the definition of Accrued Debt Service for any Series of Variable Interest Rate Senior Bonds shall be set forth in the applicable Supplemental Resolution.
Accrued Debt Service means, as of any date of computation and with respect to the Bonds of any Series, an amount equal to the sum of: (i) interest on such Bonds accrued and unpaid and to accrue to the end of the then current calendar month, and (ii) principal, Sinking Fund Installment and redemption premium which are due and unpaid for such Bonds and that portion of the principal, unsatisfied balance of any Sinking Fund Installment (as determined in accordance with the Bond Resolution) and redemption premium for such Bonds next due which would have accrued to the end of such calendar month if deemed to accrue monthly from a date one year prior to its due date.
Accrued Debt Service means, as of any date of calculation, the amount of Debt Service that has accrued with respect to any Series of Bonds and any related Security Instrument Repayment Obligation, calculating the Debt Service that has accrued with respect to each Series of Bonds (other than Pledged Bonds) and each related Security Instrument Repayment
Accrued Debt Service means, as of any date of calculation, the amount of Debt Service that has accrued with respect to any Series of Bonds and any related Security Instrument Repayment Obligations, calculating the Debt Service that has accrued with respect to each Series of Bonds and any related Security Instrument Repayment Obligations as an amount equal to the sum of (a) the interest on the Bonds of such Series and on any related Security Instrument Repayment Obligations that has accrued and is unpaid and that will have accrued by the end of the then-current calendar month, and (b) that portion of all Principal Installments payable within the 12-month period following the date of calculation for the Bonds of such Series (other than Subordinated Bond Anticipation Notes) and on any related Security Instrument Repayment Obligations that would have accrued, if deemed to accrue in the same manner as interest accrues, by the end of the then current calendar month.
Accrued Debt Service means, as of any date of calculation, the amount of Debt Service that has accrued with respect to any Series of Bonds, any Contract and any related Security Instrument Repayment Obligation, calculating the Debt Service that has accrued with respect to each Series of Bonds (other than Pledged Bonds), each Contract and each related Security Instrument Repayment Obligation as an amount equal to the sum of (a) the interest on the Bonds of such Series, such Contract and such related Security Instrument Repayment Obligation that has accrued and is unpaid and that will have accrued up to and including the day next preceding an interest payment date for such Bonds, Contract and Security Instrument Repayment Obligation, and (b) the Principal Installment for the Bonds of such Series, such Contract and such related Security Instrument Repayment Obligation that is due and payable on the next succeeding Principal Installment payment date.
Accrued Debt Service means, as of any date of calculation, unless otherwise specified in the Supplemental Indenture with respect to a particular Series of Bonds, an amount equal to (i) accrued and unpaid interest on the Outstanding Series of Bonds (accrued and unpaid interest shall not include the Appreciated Amount of a Deferred Interest Bond), plus (ii)(A) in the case of semiannual principal maturities (including Sinking Fund Installments), the amount obtained by multiplying the total amount of Outstanding Bonds of such Series due on the next succeeding principal payment date by the number of full months elapsed since the most recent preceding principal payment date, and dividing the product by six, (B) in the case of annual principal maturities (including Sinking Fund Installments), the amount obtained by multiplying the total amount of Outstanding Bonds of such Series due on the next succeeding principal payment date by the number of full months elapsed since the most recent preceding principal payment date, and dividing the product by 12 and (C) in the case of principal maturities (including Sinking Fund Installments) on other than an annual or semiannual basis, the amount obtained by multiplying the total amount of Outstanding Bonds of such Series due on the next succeeding principal payment date by the number of days elapsed since the most recent preceding principal payment date, and dividing the product by the number of days in the period between principal payment dates for such Series of Bonds.