Debt Service Account definition

Debt Service Account means the Debt Service Account for General Obligation Temporary Notes, Series 2017-1 (within the Bond and Interest Fund) created pursuant to Section 501 hereof.

Debt Service Account means the Debt Service Account for General Obligation Bonds, Series 2017 created within the Bond and Interest Fund pursuant to Section 501 hereof.

Debt Service Account shall have the meaning set forth in Section 9.1 hereof.

Examples of Debt Service Account in a sentence

• Moneys held for the credit of a Series Reserve Account shall be used for the purpose of paying interest or principal or Amortization Installment or Maturity Amount on the Bonds of the related Series whenever amounts on deposit in the Series Debt Service Account shall be insufficient for such purpose.

• Levy and Collection of Annual Tax; Transfer to Debt Service Account.

• If the balance in the Debt Service Account is ever insufficient to pay all principal and interest then due on the Bonds and any other bonds payable therefrom, the deficiency shall be promptly paid out of any other funds of the City which are available for such purpose, and such other funds may be reimbursed with or without interest from the Debt Service Account when a sufficient balance is available therein.

• The proceeds derived from said taxes shall be deposited in the Bond and Interest Fund, shall be kept separate and apart from all other funds of the Issuer shall thereafter be transferred to the Debt Service Account and shall be used solely for the payment of the principal of and interest on the Bonds as and when the same become due, taking into account any scheduled mandatory redemptions, and the fees and expenses of the Paying Agent.

• Out of the revenues in the Project Revenue Account, there shall be set aside no later than the 25th day of each month into the account designated Project Debt Service Account, a sum sufficient to provide for the payment as the same become due of the next maturing principal of, interest and Administrative Surcharge on the Revenue Bonds and any reserve determined by the City’s governing body to be necessary.

More Definitions of Debt Service Account

Debt Service Account shall have the meaning set forth in Section 3.1 hereof.

Debt Service Account shall have the meaning set forth in the Cash Management Agreement.

Debt Service Account means the account by that name created within the Bond and Interest Fund by the Bond Resolution.

Debt Service Account means the debt service account established in the name of the Governmental Unit and administered by the Finance Authority to pay the Loan Agreement Payments under the Loan Agreement as the same become due.

Debt Service Account means the account created in the Sanitary Sewerage System Fund pursuant to Section 7.04 of the Original Resolution.

Debt Service Account means the bank account opened in the name of the Owner with the Account Bank and designated “Skopelos Debt Service Account”.

Debt Service Account means the Debt Service Account for General Obligation Refunding and Improvement Bonds, Series 2020-A created within the Bond and Interest Fund pursuant to Section 501 hereof.