Bond Reserves definition

Bond Reserves means reserves established by the Bond Documents for the Authority Bonds to secure timely payment of amounts due on the Authority Bonds even if one or more local borrowers do not make timely payments on their loans.
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Bond Reserves means all funds (including, but not limited to, debt service reserve funds) held or otherwise required to be maintained under the Bond Documents.
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Bond Reserves. The following escrow or reserve accounts with respect to the Bonds, as provided for by the Bond Documents:
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Examples of Bond Reserves in a sentence

  • The Local Borrower acknowledges that payment of the Authority Bonds by the Authority, including payment from moneys drawn by the Trustee from the Bond Reserves or the CWRF Financial Assistance Account and DWRF Financial Assistance Accounts established under the Bond Documents, does not constitute payment of the amounts due under this Loan Agreement.

  • The payment of the Seller's Funds to Seller, to the extent that Buyer receives the September, 1998 distribution from the Bond Reserves accounts in accordance with the Bond Documents, shall be treated for purposes of this Agreement as a reimbursement of Seller by Buyer pursuant to Section 13.14 hereof.

  • On the Closing Date, the balance of the FF&E Reserve shall not be less than $1,375,000.00 and the balance of the Debt Service Reserve Fund, which is part of the Bond Reserves, shall not be less than $4,000,000.00.

  • Interest payments due on the Bonds and payments due on the Equity Reserve Fund that is part of the Bond Reserves for the period in which the Closing Date falls shall be prorated as of the Closing.