Annual Debt Service Requirements definition

Annual Debt Service Requirements means, for any Fiscal Year, the principal of and interest on all Parity Obligations coming due at Maturity or Stated Maturity (or that could come due on demand of the owner thereof other than by acceleration or other demand conditioned upon default by the Board on such Debt, or be payable in respect of any required purchase of such Debt by the Board) in such Fiscal Year, and, for such purposes, any one or more of the following rules shall apply at the election of the Board:

Annual Debt Service Requirements means, for any fiscal or calendar year, an amount equal to the Debt Service of the particular Parity Obligations for which computation is being made, which will become due and payable during such annual period.

Annual Debt Service Requirements means, with respect to the Series 2013 Warrants and any Additional Parity Securities, the amount of principal and interest maturing with respect thereto in the Fiscal Year in question; provided, that the principal amount of any such Series 2013 Warrants or Additional Parity Securities required, by the terms of the Warrant Ordinance or any Parity Securities Ordinance (as the case may be), to be redeemed during any Fiscal Year out of a sinking or other similar fund shall, for purposes of this definition, be considered as maturing in the Fiscal Year during which such redemption is required and not in the Fiscal Year in which their stated maturity occurs.

Examples of Annual Debt Service Requirements in a sentence

• The Net Pledged Revenues for any 12 consecutive months out of the 18 months preceding the month in which such proposed Parity Bonds are to be issued are at least equal to the sum of 125% of the Combined Maximum Annual Debt Service Requirements of the Outstanding Bonds, all Outstanding Parity Bonds and such additional Parity Bonds proposed to be issued.

• If, however, the Board is making payments on a guarantee or anticipates doing so in its annual budget, such obligation shall be treated as Parity Obligations and calculations of Annual Debt Service Requirements with respect to such guarantee shall be made assuming that the Board will make all additional payments due under the guaranteed obligation.

• The Board shall determine that after the conveyance, sale, or other disposition of such properties, the Board shall have sufficient funds during each Fiscal Year during which Parity Obligations are to be Outstanding to meet the financial obligations of each Participant in the Financing System, including sufficient Pledged Revenues to satisfy the Annual Debt Service Requirements of the Financing System and to meet all financial obligations of the Board relating to the Financing System.

• System, including sufficient Pledged Revenues as defined in the RFS Master Resolution to satisfy the Annual Debt Service Requirements of the Financing System, and to meet all financial obligations of the U.

• In the event that, according to such calculation, the Net Pledged Revenues received in any Fiscal Year are less than 1.35 times such Maximum Annual Debt Service Requirements, the Enterprise shall, immediately upon the filing thereof, commence funding the Debt Service Reserve Fund monthly so that no later than twenty-four (24) months after the date of such filing, the amount accumulated in the Debt Service Reserve Fund is equal to the Reserve Requirement.

More Definitions of Annual Debt Service Requirements

Annual Debt Service Requirements of any specified Person means, for any Fiscal Year, the principal of (and premium, if any) and interest and other debt service charges (which include for purposes hereof, any fees or premiums for any letter of credit, surety bond, policy of insurance, bond purchase agreement, or any similar credit or liquidity support secured in connection therewith) on all Long Term Debt of such Person coming due at Maturity or Stated Maturity, and, for such purposes, any one or more of the following rules shall

Annual Debt Service Requirements means, with respect to any Person (including the District and any Restricted Affiliate), for any Fiscal Year, the principal of and premium, if any, and interest and other debt service charges (including any annual and recurring fees or premiums for any letter of credit, or any similar credit or liquidity support secured in connection therewith) on all Outstanding Funded Debt of such Person coming due in such Fiscal Year, subject, however, to the following rules:

Annual Debt Service Requirements means, for any Fiscal Year, (i) the principal of, premium, if any, and interest on all Parity Debt coming due at Maturity or Stated Maturity (or that could come due on demand of the owner thereof other than by acceleration or other demand conditioned upon default by the Commission on such Parity Debt, or be payable in respect of any required purchase of such Parity Debt by the Commission) plus (ii) all payments required to be made by the Commission under each Credit Agreement constituting Parity Debt (net of any credits as provided in (7) below) in such Fiscal Year, and minus (iii) all amounts on deposit to the credit of the Interest and Sinking Account from original proceeds from the sale of Parity Debt or from any other lawfully available source (other than moneys that would constitute Pledged Revenues in the subject annual period) and, for such purposes, any one or more of the following rules shall apply at the election of the Commission; provided, however, that this definition shall never be applied in a manner which results in Annual Debt Service Requirements for any Fiscal Year being an amount that is less than the aggregate amount actually required to be paid in such Fiscal Year with respect to Outstanding Parity Debt:

Annual Debt Service Requirements of any specified Person means, for any Fiscal Year, the principal of (and premium, if any) and interest and other debt service charges (which include for purposes hereof, any fees or premiums for any letter of credit, surety bond, policy of insurance, bond purchase agreement, or any similar credit or liquidity support secured in connection therewith payable in such Fiscal Year) on all Long-Term Indebtedness of such Person coming due at maturity or stated maturity, and, for such purposes, any one or more of the following rules shall apply:

Annual Debt Service Requirements means, for any Fiscal Year, (i) the principal of, premium, if any, and interest on all Bonds coming due at Maturity or Stated Maturity (or that could come due on demand of the owner thereof other than by acceleration or other demand conditioned upon default by the Commission on such Bonds, or be payable in respect of any required purchase of such Bonds by the Commission) plus (ii) all payments required to be made by the Commission under each Credit Agreement constituting Bonds (net of any credits as provided in (7) below) in such Fiscal Year, and minus (iii) all amounts on deposit to the credit of the Interest and Sinking Fund from original proceeds from the sale of Bonds or from any other lawfully available source and, for such purposes, any one or more of the following rules shall apply at the election of the Commission; provided, however, that this definition shall never be applied in a manner which results in Annual Debt Service Requirements for any Fiscal Year being an amount that is less than the aggregate amount actually required to be paid in such Fiscal Year with respect to Outstanding Bonds:

Annual Debt Service Requirements means, as of the date of calculation, the principal of and interest on all Bonds Similarly Secured coming due at Maturity or Stated Maturity (or that could come due on demand of the owner thereof other than by acceleration or other demand conditioned upon default by the Town on such Bonds Similarly Secured, or be payable in respect of any required purchase of such Bonds Similarly Secured by the Town) in such Fiscal Year.

Annual Debt Service Requirements means, for any Fiscal Year, the principal of, interest on, and other payments due from the Authority under, all Senior Lien Obligations coming due (or that could come due on demand of the owner thereof other than by acceleration or other demand conditioned upon default by the Authority on such Senior Lien Obligations, or be payable in respect of any required purchase of such Senior Lien Obligations by the Authority) in such Fiscal Year (including any costs and amounts due and owing under any Credit Agreements), except to the extent that any such principal, interest or other payments are to be paid from amounts (including investment earnings thereon) held in the Interest and Sinking Fund, the Reserve Fund, or any other Fund into which amounts have been set aside for the purpose of providing for the payment of such principal, interest or other payments; and, for such purposes, any one or more of the following rules shall apply at the election of the Authority: