Assumed Debt Service means the aggregate amount of Debt Service which would be due for the twelve (12) months immediately following the date of determination assuming the maximum principal amount of the Loan is outstanding and assuming an interest rate for the Loan equal to, as applicable (a) if the Loan is a LIBOR Rate Loan, the applicable LIBOR Margin plus LIBOR at the time of determination, (b) if the Loan is an Alternate Rate Loan, the applicable Alternate Rate Spread plus the Alternate Rate at the time of determination or (c) if the Loan is a Base Rate Loan, the applicable Base Rate Spread plus the Base Rate at the time of determination.
Assumed Debt Service means, for any Borrower Fiscal Year, the aggregate amount of principal and interest which would be payable on all Secured Obligations if each Excluded Principal Payment were amortized on a substantially level debt service basis for a period commencing on the date of calculation of such Assumed Debt Service and ending on the earlier of (a) the date specified by the Borrower not exceeding thirty (30) years from the date of calculation, or (b) the Tax Expiration Date. Assumed Debt Service will be calculated on a level debt service basis, based on a fixed interest rate equal to the rate at which the Borrower could borrow for such period. This rate will be as set forth in a certificate of a financial advisor or investment banker (which advisor or banker shall be reasonably acceptable to the TIFIA Lender), delivered to the Trustee and the TIFIA Lender, who may rely conclusively on such certificate, and which must be delivered no more than thirty (30) days prior to the date of calculation.
Assumed Debt Service means for any Fiscal Year the aggregate amount of principal and interest which would be payable on all Bonds if each Excluded Principal Payment were amortized on a substantially level debt service basis or other amortization schedule provided by NVTC for a period commencing on the date of calculation of such Assumed Debt Service and ending on the earlier of (i) the date specified by NVTC or (ii) 39 years from the date of calculation, such Assumed Debt Service to be calculated on a level debt service basis or other amortization schedule provided by NVTC, based on a fixed interest rate equal to the rate at which NVTC could borrow for such period, as expressed in an Officer's Certificate (which shall be based upon the opinion of NVTC's financial advisor or of a third party consultant reasonably acceptable to the Trustee).
Examples of Assumed Debt Service in a sentence
With respect to Debt Obligations that are incurred after January 31, 2006 ("Future Debt Obligations"), the Purchaser will (a) pay, commencing November 1, 2011, the monthly amortization of the Assumed Debt Service on such Debt Obligations attributable to Rocky Reach, and (b) pay, commencing July 1, 2012, the monthly amortization of the Assumed Debt Service on such Debt Obligations attributable to Rock Island.
More Definitions of Assumed Debt Service
Assumed Debt Service means for any Fiscal Year the aggregate amount of principal and interest which would be payable on all Bonds if each Excluded Principal Payment were amortized on a substantially level debt service basis or other amortization schedule provided by Alameda CTC for a period commencing on the date of calculation of such Assumed Debt Service and ending on the earlier of (i) the date specified by Alameda CTC or (ii) the last date Alameda CTC is authorized to collect the Measure BB Sales Tax (as such tax may be extended), such Assumed Debt Service to be calculated on a level debt service basis or other amortization schedule provided by Alameda CTC, based on a fixed interest rate equal to the rate at which Alameda CTC could borrow for such period, as set forth in a certificate of a Consultant, delivered to the Trustee, who may rely conclusively on such certificate, such certificate to be delivered within 30 days of the date of calculation.
Assumed Debt Service means for any Fiscal Year the aggregate amount of principal and interest which would be payable on all Sales Tax Debt if each Excluded Principal Payment were amortized on a substantially level debt service basis or other amortization schedule provided by the Authority for a period commencing on the date of calculation of such Assumed Debt Service and ending on the earlier of (i) the date specified by the Authority not exceeding thirty (30) years from the date of calculation, or (ii) the Sales Tax Expiration Date, such Assumed Debt Service to be calculated on a level debt service basis or other amortization schedule provided by the Authority, based on a fixed interest rate equal to the rate at which the Authority could borrow for such period, as set forth in a certificate of a financial advisor or
Assumed Debt Service means the aggregate amount of interest due and payable in accordance with the Notes during the applicable immediately succeeding twelve (12) month period, assuming that interest on the aggregate outstanding principal balance of the Notes is accruing at the Loan Constant.
Assumed Debt Service means the hypothetical equal monthly payments of principal and interest that would be owed by the Tenant to a lender, assuming (irrespective of whether the Tenant has actually incurred any indebtedness and the actual terms of any such indebtedness) that Tenant borrowed seventy percent (70%) of the most recent purchase price for the direct or indirect transfer of the entire Lease to a party that is not an Affiliate of the Tenant (including any indirect transfer of the Lease effected by means of the direct or indirect sale of all of the equity interest in the Tenant), at a rate of interest equal to the Ten Year Treasury Rate plus three hundred (300) basis points, determined on the date of transfer and with a thirty (30) year level debt service amortization. Notwithstanding, the foregoing, prior to the first sale of the Project, when using the defined term Available Cash for Partnership Distributions, actual debt service shall be deducted from cash proceeds in lieu of the Assumed Debt Service.
Assumed Debt Service means the product of the most recent regularly scheduled monthly payment of interest on the Loan and the applicable number of months for which the Assumed Debt Service is being calculated; provided, however, Assumed Debt Service shall be measured at the maximum interest rate as set forth in the Interest Rate Cap Agreement or if no Interest Rate Cap Agreement is required or in place then the greater of the then current Contract Rate and nine and 25/100 percent (9.25%).
Assumed Debt Service means, as of any date, the greater of (a) the product of (i) the Fixed Constant, and (ii) the outstanding principal balance of the Term Loans as of such date, or (b) the product of (i) the Variable Constant, and (ii) the outstanding principal balance of the Term Loans as of such date.
Assumed Debt Service means, for any Fiscal Year, the aggregate amount of principal and interest which would be payable on all Senior Lien Debt and/or Subordinate Obligations, as applicable, if each Excluded Principal Payment were amortized on a substantially level debt service basis or other amortization schedule provided by the Issuer for a period commencing on the date of calculation of such Assumed Debt Service and ending on the earlier of (i) the date specified by the Issuer or (ii) the Tax Expiration Date, such Assumed Debt Service to be calculated on a level debt service basis or other amortization schedule provided by the Issuer, based on a fixed interest rate equal to the rate at which the Issuer could borrow for such period, as set forth in a certificate of the Issuer, delivered to the Trustee, who may rely conclusively on such certificate, such certificate to be delivered within thirty (30) days of the date of calculation.