Borrower Debt Service definition

Borrower Debt Service means as of any date of determination, an amount equal to Debt Service on the Unsecured Senior Debt for the previous four quarters including the quarter then ended.
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Borrower Debt Service is hereby added to Article I:
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Borrower Debt Service means, for any period, (a) the aggregate amount of all cash payments made by the Borrower during such period that, in accordance with GAAP, are or should be included in “interest paid, net of amounts capitalized” and “capital lease interest paid” reflected in the statement of cash flows for the Borrower on a stand alone basis, plus (b) the aggregate amount of all scheduled principal payments on Indebtedness of the Borrower made or required to be made by the Borrower during such period (including any such scheduled principal payments required to be made during such period that were prepaid by the Borrower during such period), determined for the Borrower on a stand alone basis.
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Examples of Borrower Debt Service in a sentence

  • As of the last day of each calendar quarter, the ratio of Borrowing Base Net Operating Cash Flow to Borrower Debt Service shall be equal to or greater than 2.00:1.00.

  • Criteria Defined, Business (non-developer) as Borrower Debt Service Coverage, Business (non-developer) as BorrowerThe ratio between net operating cash flow and proforma debt service.

  • Remit payment to: Bank Name: Bank ABA No: Account Name: Account No.: For Further Credit: [GSRP Warehouse Borrower Debt Service Reserve Account] This Sight Draft has been executed and delivered by a duly authorized officer of the undersigned on the date first above written.

  • The NACC Debt Service Reserve Account shall be used by the Servicer to pay Monthly Debt Service Payments if the amounts available from (i) Operating Profit transmitted by the Manager to the Servicer pursuant to the provisions of Sections 2.4, 6.4 and 7.8.2 and (ii) amounts contained in the Borrower Debt Service Reserve Account are insufficient for such payments.

  • The Borrower shall fund and maintain at all times (as such amount may be reduced from time to time if applied pursuant to the terms hereof) the Borrower Debt Service Reserve in the Borrower Debt Service Reserve Account in accordance with the terms of this Agreement and the Account Control Agreement governing the Borrower Debt Service Reserve Account.

  • However, the Series 2013A Financing Program does not require the funding of a Series 2013A Borrower Debt Service Reserve Fund to secure the Series 2013A Borrower Bonds, and, therefore, some, but not all, Series 2013A Borrower Trust Loan Bond Resolutions require the funding of a Series 2013A Borrower Debt Service Reserve Fund.

  • This can be used to block auto-updates until they have been approved.

  • However, the Series 2014A Financing Program does not require the funding of a Series 2014A Borrower Debt Service Reserve Fund to secure the Series 2014A Borrower Bonds, and, therefore, some, but not all, Series 2014A Borrower Trust Loan Bond Resolutions require the funding of a Series 2014A Borrower Debt Service Reserve Fund.

  • Minimum Borrower Debt Service Coverage Ratio of 1.25x to be evaluated annually.

  • Borrower Debt Service Coverage Ratio means, for any Computation Period with respect to the Approved Real Property, the ratio of (a) Borrower Net Income, to (b) the sum for such period of (i) cash Interest Expense for the Approved Real Property plus (ii) required payments of principal of each Line of Credit Tranche.


More Definitions of Borrower Debt Service

Borrower Debt Service means for any period, the sum, without duplication, of the amounts determined for Borrower and its Subsidiaries on a consolidated basis equal to (i)
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Borrower Debt Service means in respect of any Calculation Period the aggregate of any and all amounts in the nature of all principal, interest, agency and other fees and expenses payable by the Borrower taking into account the net amount payable under any agreements entered into in accordance with the Hedging Letter minus any mandatory prepayment defined as a percentage of Excess Cash (as described in Section 48(f)).
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Borrower Debt Service means (A) the sum of the aggregate actual principal and interest paid or payable respecting all Debt of the Borrower, including, without limitation, all principal and interest payments required with respect to the Loan, less (B) with respect to interest payments required with respect to the Loan, the amount paid to the Borrower or the Agent pursuant to any Interest Rate Protection Agreement relating to interest due during the subject Calculation Period.
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Borrower Debt Service means, for any period, (a) the aggregate amount of all cash payments made by the Borrower during such period that, in accordance with GAAP, are or should be included in "interest paid, net of amounts capitalized" and "capital lease interest paid" reflected in the statement of cash flows for the Borrower on a stand alone basis, plus (b) the aggregate amount of all scheduled principal payments on Indebtedness of the Borrower made or required to be made by the Borrower during such period (including any such scheduled principal payments required to be made during such period that were prepaid by the Borrower during such period), determined for the Borrower on a stand alone basis; provided, however, that principal and interest payments with respect to a debt obligation in the principal amount of $95,000,000 owed by the Borrower to TEP, which debt obligation (and all accrued interest thereon) was repaid in full on March 1, 2005, shall be excluded for purposes of calculating Borrower Debt Service.
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Related to Borrower Debt Service

  • Lender PMI Loans Mortgage Loans with respect to which the lender rather than the borrower acquired the primary mortgage guaranty insurance and charged the related borrower an interest premium.

  • Borrower Loan means the mortgage loan made by the Governmental Lender to the Borrower pursuant to this Borrower Loan Agreement, in the maximum principal amount of the Borrower Loan Amount, as evidenced by the Borrower Note.

  • Borrower Loan Documents shall have the meaning given such term in the Borrower Loan Agreement.

  • Subordinated Lenders means the holders of Subordinated Debt.

  • Borrower/s means and refers to jointly and severally to the Applicants (more particularly described in the Application Form) who has/have been sanctioned/granted/disbursed the Loan by ABFL pursuant to the relevant Application Form submitted by such applicants to ABFL for availing of the Loan and depending upon the nature of the Borrower/s, shall, unless repugnant to the context or meaning thereof, be deemed to include his/her legal heirs, executors and administrators;

  • Borrower Group has the meaning provided in Section 10(c) hereof.

  • Subordinate Loan Documents means the Subordinate Note, the Subordinate Mortgage, and all other documents at any time evidencing, securing, guaranteeing, or otherwise delivered in connection with the Subordinate Indebtedness.

  • Borrower Loan Agreement means the Borrower Loan Agreement, of even date herewith, between the Governmental Lender and the Borrower, as supplemented, amended or replaced from time to time in accordance with its terms.

  • Subordinated Lender means each Seller, in its capacity as subordinated lender pursuant to the relevant Subordinated Loan Agreement.

  • Subordinate Lender means the person or entity named as such in the first paragraph of this Agreement and any other person or entity who becomes the legal holder of the Subordinate Note after the date of this Agreement.

  • Borrower Account has the meaning specified in Section 2.11(a)(ii).

  • Borrower as defined in the preamble hereto.

  • Canadian Borrowing Base means, at any time, an amount in Dollars equal to:

  • Borrower Note means the “Borrower Note” as defined in the Borrower Loan Agreement.

  • Foreign Borrowing Base means, as of any date, an amount equal to:

  • Co-Borrowers means Wholly Owned Restricted Subsidiaries organized in any Applicable Jurisdiction from time to time designated by the Borrower to the Administrative Agent as “borrowers” with respect to Borrowings in accordance with Section 11.01, and “Co-Borrower” means any one of them.

  • Domestic Rate Loan means any Advance that bears interest based upon the Alternate Base Rate.

  • Revolving Administrative Agent has the meaning assigned to such term in the preamble of this Agreement.

  • Term Loan Administrative Agent means the administrative agent under the Term Loan Agreement

  • Domestic Borrowing Base means, at any time of calculation, an amount equal to:

  • Canadian Credit Party means the Canadian Borrower and each Canadian Subsidiary Guarantor.

  • Term Loan Documents means the “Loan Documents” as defined in the Term Loan Agreement.

  • Subordinated Loan Documents means at any time the agreements and other documents then governing the Subordinated Indebtedness.

  • Subordinate Prepayment Percentage As to any Distribution Date, 100% minus the Senior Prepayment Percentage for such Distribution Date.

  • Administrative Advance shall have the meaning given thereto in the Lead Securitization Servicing Agreement.

  • Canadian Borrowers has the meaning specified in the preamble to this Agreement.