Balloon Debt definition

Balloon Debt means Debt, 25% or more of the original principal of which matures during any consecutive twelve (12) month period, if such maturing principal amount is not required to be amortized below such percentage by mandatory redemption or mandatory prepayment prior to such twelve (12) month period; provided that in no event shall the term “Balloon Debt” include Unreimbursed Amounts or Bank Loans made hereunder or Debt that would otherwise be classified hereunder as “Put Debt.”

Balloon Debt means Indebtedness 25% or more of the principal amount of which matures in the same 12-month period, which portion of such principal amount is not required to be amortized by redemption prior to such period.

Balloon Debt means debt 25% or more of the principal amount of which comes or may come due in any one Fiscal Year by maturity, mandatory sinking fund redemption or optional or mandatory tender by the holder thereof.

Examples of Balloon Debt in a sentence

• Balloon Debt shall be deemed (A) to amortize in equal amount installments over a term of twenty (20) years, and (B) to bear interest on the unpaid principal balance in the manner assumed for Variable Rate Debt.

• If the City intends to issue balloon debt to refund balloon debt, it will submit a request for approval of Balloon Debt to the Office of State and Local Finance as defined by Public Chapter 766, Acts of 2014 and it will make sure to additionally comply with its Balloon Debt Management Plan, as attached in Exhibit A.

• If the City intends to issue balloon debt, it will submit a request for approval of Balloon Debt to the Office of State and Local Finance as defined by Public Chapter 766, Acts of 2014 and it will make sure to additionally comply with its Balloon Debt Management Plan, as attached in Exhibit A.

• This Balloon Debt Management Plan (the “Debt Plan”) is a written guideline to manage, reduce, and mitigate existing balloon indebtedness on the City.

• The term of Debt shall be determined by, but not limited to, the economic life of the assets financed, conditions in the capital markets, the availability of adequate revenue streams to service the Debt and the existing pattern of Debt payable from such identifiable fund or enterprise activity, but in no event will the term of such Debt exceed thirty (30) years, unless as otherwise outlined in TCA (e.g. federally sponsored loans or Balloon Debt, which requires prior Comptroller approval and permission).

More Definitions of Balloon Debt

Balloon Debt means Current Interest Obligations 50% or more of the original principal amount of which matures during any 12-month period. For purposes of this definition, the principal amount of Secured Obligations required to be redeemed prior to maturity shall be deemed payable on the mandatory redemption date rather than at maturity. For the avoidance of doubt, this definition shall not apply to Capital Appreciation Obligations or to Convertible Capital Appreciation Obligations prior to the Current Interest Commencement Date applicable thereto.

Balloon Debt means Long Term Debt where the principal of (and premium, if any) and interest and other debt service charges on such Long Term Debt due (or payable in respect of any required purchase of such Debt by such Person on demand) in any Fiscal Year either are equal to at least 25% of the total principal of (any premium, if any) and interest and other debt service charges on such Long Term Debt or exceed by more than 50% the greatest amount of principal of (and premium, if any) and interest and other debt service charges on such Long Term Debt due in any preceding or succeeding Fiscal Year.

Balloon Debt means Long-Term Indebtedness where the principal of (and premium, if any) and interest and other debt service charges on such Long-Term Indebtedness due (or payable in respect of any required purchase of such Indebtedness by such Person on demand) in any Fiscal Year either are equal to at least 25% of the total principal of (any premium, if any) and interest and other debt service charges on such Long-Term Indebtedness or exceed by more than 50% the greatest amount of principal of (and premium, if any) and interest and other debt service charges on such Long-Term Indebtedness due in any preceding or succeeding Fiscal Year.

Balloon Debt means any debt twenty-five percent (25%) or more of the principal amount of which is stated to mature or is otherwise payable in a single Fiscal Year.

Balloon Debt means Debt (i) twenty-five percent (25%) or more of the original principal amount of which matures within a period of twelve (12) consecutive months, which portion of such principal amount is not required by the documents governing such Debt to amortize prior to the commencement of such twelve (12) month period in amounts such that, following such amortization, the principal amount maturing during such twelve (12) month period will be less than twenty-five percent (25%) of such original principal amount, or (ii) any portion of the original principal amount of which (1) may be tendered for purchase or redemption prior to maturity at the option of the holder thereof (including any such Debt which is payable on demand within three hundred sixty-five (365) days from the date of incurrence), or

Balloon Debt any Recourse Debt on which the principal is not fully amortized over its stated term, either in level installments of principal or in approximately equal payments of principal and interest.

Balloon Debt means Long-Term Debt (i) twenty-five percent (25%) or more of the original principal amount of which matures within a period of twelve (12) consecutive months, which portion of such principal amount is not required by the documents governing such Debt to amortize prior to the commencement of such twelve (12) month period in amounts such that, following such amortization, the principal amount maturing during such twelve (12) month period will be less than twenty-five percent (25%) of such original principal amount, or (ii) any portion of the original principal amount of which (1) may be tendered for purchase or redemption prior to maturity at the option of the holder thereof (including any such Debt which is payable on demand within three hundred sixty-five (365) days from the date of incurrence), or