Average Annual Debt Service Requirements definition

Average Annual Debt Service Requirements means the quotient obtained by dividing

Average Annual Debt Service Requirements means that average amount which, at the time of computation, will be required to pay the Annual Debt Service Requirements when due (either at Stated Maturity or mandatory redemption) and derived by dividing the total of such Annual Debt Service Requirements by the number of Fiscal Years then remaining before Stated Maturity of such Parity Obligations. For the purposes of this definition, a fractional period of a Fiscal Year shall be treated as an entire Fiscal Year. Capitalized interest payments provided from bond proceeds, accrued interest on any Debt, and interest earnings thereon shall be excluded in making such computation.

Average Annual Debt Service Requirements means that number computed by adding all of the principal and interest due when computed to the absolute maturity of the bonds for which such computation is required and dividing by the number of years remaining that the longest bond of any issue for which such computation is required has to run to maturity. In making such computation, the principal of any bonds for which mandatory redemptions are scheduled shall be treated as maturing in accordance with such schedule of mandatory redemptions.

Examples of Average Annual Debt Service Requirements in a sentence

• The Board hereby authorizes the Treasurer to make the necessary calculation with respect to the coverage factor of Net Income to Average Annual Debt Service Requirements, after the pricing of the Series 2017 Bonds, to be shown in the Official Statement for the Series 2017 Bonds.

• Annual debt service on any proposed Additional Bonds to be issued may be estimated by the consulting engineer in projecting Average Annual Debt Service Requirements, but no Additional Bonds shall be issued requiring any annual debt service payment in excess of the amount so estimated by the consulting engineer.

• The Board hereby authorizes the Treasurer to make the necessary calculation with respect to the coverage factor of Net Income to Average Annual Debt Service Requirements, after the pricing of the Series 2016 Bonds, to be shown in the Official Statement for the Series 2016 Bonds.

• Average Annual Debt Service Requirements: the aggregate of all Debt Service Requirements (excluding any redemption premiums) due on the Bond or any other Securities payable from the Pledged Revenues for all Fiscal Years beginning with the Fiscal Year in which Debt Service Requirements of the Bond or such Securities are first payable after the computation date and ending with the Fiscal Year in which the last of the Debt Service Requirements are payable, divided by the whole number of such years.

• Combined Average Annual Debt Service Requirements: the sum of the Average Annual Debt Service Requirements for all issues of Securities or portions thereof for which the computation is being made.

More Definitions of Average Annual Debt Service Requirements

Average Annual Debt Service Requirements means the average of the Debt Service Requirements as computed for the then current and all future fiscal years; provided that the Debt Service Requirements in the final Stated Maturity of any series of Parity Bonds shall be reduced by the value of cash and Permitted Investments on deposit in the applicable debt service reserve account, so long as such debt service reserve account is maintained at the applicable Debt Service Reserve Requirement.

Average Annual Debt Service Requirements means that sum determined by adding all of the principal and interest which become due when computed to the absolute maturity of the Bonds and any Additional Bonds and dividing such total by the number of years that the longest bond of any issue has to run to maturity;

Average Annual Debt Service Requirements means the aggregate of all Debt Service Requirements (excluding any redemption premiums) due on the Securities for which the computation is being made for all Bond Years beginning with the Bond Year in which Debt Service Requirements of such Securities or any portion thereof are first payable after the computation date and ending with the Bond Year in which the last of the Debt Service Requirements are payable, divided by the whole number of such years.

Average Annual Debt Service Requirements means the aggregate of all Debt Service Requirements (excluding any redemption premiums) due on the Bonds or any other given issue of Parity Securities or any portion thereof for all Bond Years beginning with the Bond Year in which Debt Service Requirements of the Bonds or such Parity Securities or any portion thereof are first payable after the computation date and ending with the Bond Year in which the last of the Debt Service Requirements are payable divided by the whole number of such years.

Average Annual Debt Service Requirements means the sum of the principal of and interest on a security or securities to be paid during each Fiscal Year for the period beginning with the year in which such computation is made and ending with the year in which such security last becomes due at maturity or on a redemption date on which any security thereafter maturing is called for prior redemption, whichever time is later (but excluding any reserve requirement to secure such payments unless otherwise expressly provided), divided by the number of full years during the period beginning with the year in which such computation is made and ending with the year in which such security last becomes due at maturity or on a redemption date on which any security thereafter maturing is called for prior redemption, whichever time is later.

Average Annual Debt Service Requirements means that average amount which, at the time of computation, will be required to pay the Debt Service Requirements on the Bonds Similarly

Average Annual Debt Service Requirements means the aggregate of all Debt Service Requirements (excluding any redemption premiums) due on the Bonds or any other Securities payable from the Pledged Revenues for all Fiscal Years beginning with the Fiscal Year in which Debt Service Requirements of the Bonds or such Securities are first payable after the computation date and ending with the Fiscal Year in which the last of the Debt Service Requirements are payable, divided by the whole number of such years.