Bond Reserve Requirement definition

Bond Reserve Requirement means, collectively, the bond reserve requirement for each series of Outstanding Parity Bonds, the Series 2020C Bond Reserve Requirement and any bond reserve requirement for any subsequent series of Parity Bonds.

Bond Reserve Requirement means the total of any Bond Reserve Requirements for the Project Bonds, as set forth in the Project Indentures.

Bond Reserve Requirement means, as of the date of computation, the amount of money required to be on deposit in the Bond Reserve Fund for any or all Series of Bonds, as determined by Supplemental Resolution of the Authority or by a Certificate of Authority Officer relating to the Bonds. All or any part of the Bond Reserve Requirement may be satisfied by depositing funds in the Bond Reserve Fund or by obtaining a Bond Reserve Credit Facility.

Examples of Bond Reserve Requirement in a sentence

• With respect to the public hearing list of parcels, Ms. Kvilvang explained that this was a statutory technicality to prove the City’s portion of taxes would cover the annual principal payment on the bonds and that it was a requirement to list specific properties which taxes will be bated from.

• There is hereby pledged, in priority to all other expenses, claims and payments, to the security of the Bonds and for the payment of the Bond Service Charges and for establishment and maintenance of any Bond Reserve Requirement, the gross amount of General Receipts and the Bond Service Fund as provided in the Trust Agreement.

• If at any time there is any excess in the Bond Reserve Account over the Bond Reserve Requirement, such excess may be transferred to such fund or account as the City shall direct.

• All earnings on investments held in the Bond Reserve Account shall accrue to and become a part of the Bond Reserve Account until the amount on deposit in the Bond Reserve Account shall aggregate the Bond Reserve Requirement; thereafter, all such earnings shall be credited to the Principal and Interest Account.

• An amount equal to the Common [Senior] Bond Reserve Requirement shall be maintained in or credited to the Common [Senior] Bonds Reserve Fund and amounts equal to each Separate [Senior] Bonds Reserve Requirement shall be maintained in or credited to such Separate [Senior] Bonds Reserve Fund at all times, subject to the provisions of subsection (e) of this Section, and any deficiency therein shall be replenished from the first available [Senior] Revenues pursuant to Section 4.04(e) below.

More Definitions of Bond Reserve Requirement

Bond Reserve Requirement means, collectively or individually, as the context requires, the bond reserve requirement for each series of Outstanding Parity Bonds and any bond reserve requirement for any subsequent series of Parity Bonds, as applicable; provided that there shall be no bond reserve requirement for the WIFIA Bond and the WIFIA Credit Provider shall have no Lien on the Bond Reserve Account or any bond reserve subaccount established in connection with the issuance of other Parity Indebtedness.

Bond Reserve Requirement means the reserve requirement established for a Series of Bonds under the terms of the Sales Documents or Trust Agreement with respect to such Series and pursuant to the terms of Section 3.04 hereof.

Bond Reserve Requirement means an amount equal to Maximum Annual Debt Service attributable to the Parity Bonds, provided, however, that the Bond Reserve Requirement may not exceed the lesser of (a) 125% of the average annual Debt Service Requirements for the Parity Bonds over the term of all such bonds, (b) the aggregate of 10% of the original stated principal amount of each Series of Parity Bonds or (c) the Maximum Annual Debt Service for all Parity Bonds during any Fiscal Year. If the aggregate initial offering price of any series of Bonds to the public is less than 98% or more than 102% of par, such offering price shall be used in clause (a) in lieu of the stated principal amount. When calculating the Bond Reserve Requirement in conjunction with the issuance of the Bonds described in Section 906 hereof, the debt service of refunded and defeased Bonds shall be deducted and disregarded in said calculations.

Bond Reserve Requirement means an amount equal to Maximum Annual Debt

Bond Reserve Requirement means the balance required by the Trust Agreement to be maintained in the Bond Reserve Fund for the Bonds.

Bond Reserve Requirement means at the time of the issuance of the Series 2007 Bonds, the least of (i) 10% of the stated principal amount of the Series 2006 Bonds, the Series 2007 Bonds and any Additional Bonds; (ii) Maximum Annual Debt Service on the Series 2006 Bonds, the Series 2007 Bonds and any Additional Bonds; and (iii) 125% of the average annual debt service on the Series 2006 Bonds, the Series 2007 Bonds and any Additional Bonds.

Bond Reserve Requirement means, subject to the provisions of this Ninth Supplemental Resolution permitting deposit of a Reserve Fund Credit Policy, the amount to be deposited in a Reserve Fund established for a Series of Refinancing Bonds, which shall be set forth in the terms of the Sales Documents with respect to such Series pursuant to the terms of Section 3.4(b) hereof.