Debt Service Reserve Account Required Balance definition

Debt Service Reserve Account Required Balance means, in respect of any Debt Service Reserve Account, the amount so designated in the Series Supplemental Indenture to the Indenture establishing such Debt Service Reserve Account.
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Debt Service Reserve Account Required Balance means, in respect of each Borrower, on and from the later to occur of the Delivery Date of such Borrower’s Vessel and the first Utilisation of such Borrower’s Term Loan, the sum of:
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Debt Service Reserve Account Required Balance means an amount equal to the projected maximum six months of (i) principal and interest scheduled to become due following such date, based on the amounts of the Loans that have been funded as of such date; (ii) Letter of Credit Fees; and (iii) commitment fees. The Debt Service Reserve Account Required Balance may be funded through cash, a Letter of Credit issued hereunder or an Acceptable Letter of Credit, and shall be calculated assuming no Default or Event of Default will occur during such six-month period and excluding principal payments due at maturity.
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Examples of Debt Service Reserve Account Required Balance in a sentence

  • The Intercreditor Agent promptly shall notify such Borrower of any dispute relating to the revised Debt Service Reserve Account Required Balance or the amount of any such payment expected to be made in accordance with Clause 26.6(b) on the next Repayment Date.

  • The Debt Service Reserve Account shall be funded in cash, with one or more Letters of Credit issued hereunder or with one or more Acceptable Letters of Credit issued for the Debt Service Reserve Account Required Balance in an amount at least equal to the Debt Service Reserve Account Required Balance.

  • Accordingly, the Outstanding Amount is hereby increased by $_______ to $________ to the extent that such increase shall not cause the Outstanding Amount (when added to the aggregate balances in the Debt Service Reserve Account and the Tax Exempt Debt Service Reserve Account plus the amount of any Debt Service Reserve Account Security (each capitalized term being used as defined in the Indenture)) to exceed the Debt Service Reserve Account Required Balance.

  • Mobile Energy was permitted to fund the Tax-Exempt Debt Service Reserve Account Required Balance with a letter of credit in such amount with Southern providing a debt service account guarantee.

  • The Debt Service Reserve Account Required Balance may be funded through cash, a Letter of Credit issued hereunder or an Acceptable Letter of Credit, and shall be calculated assuming no Default or Event of Default will occur during such six-month period and excluding principal payments due at maturity.

  • The amount on deposit in the Debt Service Reserve Account shall not be less than the Debt Service Reserve Account Required Balance, taking into account the application of the proceeds of the Revolving Advances on the Borrowing Date.

  • The Tax-Exempt Indenture provides that the Tax-Exempt Debt Service Reserve Account would be funded in an amount equal to $5,908,000 (the "Tax-Exempt Debt Service Reserve Account Required Balance").

  • Unless Section 2.2(c) shall apply, the Outstanding Amount of the Debt Service Reserve Letter of Credit, as so reduced, shall be reinstated to the extent that Loans are repaid, provided that such reinstatement shall not cause the Outstanding Amount (when added to the aggregate balances in the Debt Service Reserve Account and the Tax Exempt Debt Service Reserve Account plus the amount of any Debt Service Reserve Account Security) to exceed the Debt Service Reserve Account Required Balance.

  • The Borrower shall cause (i) the Debt Service Reserve Account to be established and maintained in accordance with the provisions of the Security and Control Agreement, and (ii) the amounts on deposit in the Debt Service Reserve Account to be at least equal to the Debt Service Reserve Account Required Balance at all times.

  • The Debt Service Reserve Account Required Balance has been previously reduced (each capitalized term being used as defined in the Trust Indenture dated as of November 1, 1994 among Indiantown Cogeneration Funding Corporation, Indiantown Cogeneration, L.P, and NationsBank of Florida, N.A., as Trustee (as the same may be amended, supplemented or modified from time to time, the "Indenture")).


More Definitions of Debt Service Reserve Account Required Balance

Debt Service Reserve Account Required Balance means, as of any Quarterly Payment Date, the amount specified for such Quarterly Payment Date in Schedule 10.10, which amount shall remain constant at all times thereafter until the following Quarterly Payment Date; provided that in no event shall the Debt Service Reserve Account Required Balance be less than, as of any date, an amount equal to the forecasted scheduled Debt Service for the 6 month period beginning on such date.
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Debt Service Reserve Account Required Balance means an amount equal to the projected maximum six months of (i) principal and interest scheduled to become due following such date, based on the amounts of the Loans that have been funded as of such date; (ii)
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Debt Service Reserve Account Required Balance means, for any six-month period following the most recent Interest Payment Date, the minimum amount required to satisfy scheduled interest payments under the Notes on the Interest Payment Date immediately following the most recent Interest Payment Date;
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Debt Service Reserve Account Required Balance shall have the meaning set forth in the CADA.
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Debt Service Reserve Account Required Balance means (i) commencing on the Borrowing Date and ending on the eighteen (18) month anniversary thereof, the amount of US$2,000,000, and (ii) thereafter, an amount in Dollars equal to the aggregate amount of payments of principal of and interest on the Loans due on the immediately succeeding Principal Repayment Date.
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Related to Debt Service Reserve Account Required Balance

  • Debt Service Reserve Account as defined in the Depositary Agreement.

  • Reserve Account Required Amount means, with respect to any Payment Date, the lesser of (i) the excess of (A) the Specified Reserve Balance, over (B) the amount on deposit in the Reserve Account on such Payment Date, after taking into account the amount of any Reserve Account Withdrawal Amount on such Payment Date, and (ii) the amount remaining in the Indenture Collections Account after taking into account the distributions therefrom described in clauses (i) through (xiv) of Section 8.3(a) of the Indenture.

  • Debt Service Reserve Fund means the fund by that name established pursuant to the Second Resolution.

  • Debt Service Reserve means the reserve for payment of principal and interest on the Bonds, created and established by Sections 502 and 506 of the General Trust Indenture.

  • Debt Service Reserve Fund Requirement means, with respect to the 2013 Series C Bonds and as of each determination date, an amount equal to maximum annual debt service on the 2013 Series C Bonds Outstanding from time to time and, with respect to any other Series of Bonds, the amount set forth in the Related Series Indenture.

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];

  • Reserve Account Draw Amount means, for any Payment Date, an amount equal to the lesser of (a) the Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount of cash or other immediately available funds on deposit in the Reserve Account (excluding any net investment earnings) on such Payment Date; provided, however, that if such Payment Date is the Redemption Date, the “Reserve Account Draw Amount” shall mean an amount equal to the amount of cash or other immediately available funds on deposit in the Reserve Account on the Redemption Date.

  • Required Reserve Account Amount means, with respect to any Distribution Date on or after the Reserve Account Funding Date, an amount equal to (1) 0.50% of the Class A Invested Amount as of the preceding Distribution Date (after giving effect to all changes therein on such date) or (2) any other percentage (which may be 0%) of the Class A Invested Amount designated by the Transferors, provided that if such percentage is less than the percentage specified in clause (1) above, the Transferors shall have received the prior written consent of the Collateral Interest Holder and written notice from each Rating Agency that the Rating Agency Condition shall have been satisfied with respect to such designation and shall have delivered copies of each such written notice to the Servicer and the Trustee.

  • Reserve Account Requirement means, with respect to the Closing Date and any Distribution Date, an amount equal to the lesser of: (A) 2.0% of the sum of (x) the initial Class A Note Balance, (y) the initial Class B Note Balance and (z) the initial Class C Note Balance; and (B) the sum of (x) the Class A Note Balance on such Distribution Date, (y) the Class B Note Balance on such Distribution Date and (z) the Class C Note Balance on such Distribution Date, after giving effect to the payment of principal on such Distribution Date.

  • Targeted Accumulation Reserve Subaccount Deposit means, with respect to any Distribution Date during the Accumulation Reserve Funding Period, an amount equal to (i) [0.5]% of the Outstanding Dollar Principal Amount of the Class C( - ) Notes as of the close of business on the last day of the related Due Period or (ii) any other amount designated by the Calculation Agent on behalf of the Issuer.]

  • Reserve Account Withdrawal Amount means, with respect to any Distribution Date, the lesser of (x) any shortfall in the amount of Available Funds available to pay the amounts specified in clauses (i) through (xvii) of Section 5.7(a) (taking into account application of Available Funds to the priority of payments specified in Section 5.7(a) and ignoring any provision hereof which otherwise limits the amounts described in such clauses to the amount of funds available) and (y) the amount on deposit in the Reserve Account on such Distribution Date prior to application of amounts on deposit therein pursuant to Section 5.8.

  • Class C Reserve Account Percentage means, for any Distribution Date on which a condition in the left column of the following table was in effect on the immediately preceding Distribution Date, the percentage in the corresponding right column of the following table (or if more than one conditions were in effect on the immediately preceding Distribution Date, the largest percentage). Condition: The three-month rolling average Excess Spread Percentage is: Class C Reserve Account Percentage:

  • 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.

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.

  • Debt Service Reserve Requirement means, as of any date of calculation, and for any Fiscal Year, the amount equal to the maximum Adjusted Aggregate Debt Service on Bonds in the current or any future Fiscal Year on all Bonds Outstanding; provided, however, that if, upon the issuance of a Series of Bonds, such amount would require moneys, in an amount in excess of the maximum amount permitted under the Code to be deposited therein from the proceeds of such Bonds, to be deposited therein, the Debt Service Reserve Requirement shall mean an amount equal to the sum of the Debt Service Reserve Requirement immediately preceding issuance of such Bonds and the maximum amount permitted under the Code to be deposited therein from the proceeds of such Bonds, as certified by an Authorized Representative of the Authority; provided, further, that, if (i) the payment of the Principal Installments of or interest on any Series of Bonds or portion thereof is secured by a Special Credit Facility, (ii) the payment of the Tender Option Price of any Option Bond of a Series is secured by a Special Credit Facility or (iii) the Authority has determined in a Supplemental Resolution authorizing the issuance of a Series of Bonds that such Series of Bonds will not be secured by the Common Account in the Debt Service Reserve Fund, the Supplemental Resolution authorizing such Series may specify the Debt Service Reserve Requirement, if any, for the Bonds of such Series: provided, further, that if, as a result of the expiration or termination of a Financial Guaranty, a deficiency shall be created in the Debt Service Reserve Fund, the Debt Service Reserve Requirement shall be calculated so as to exclude the amount of such deficiency and the Debt Service Reserve Requirement shall be increased in each of the five Fiscal Years after the date such deficiency was created by an amount equal twenty per centum (20%) of the aforesaid deficiency.For the purpose of calculating the Debt Service Reserve Requirement for any Variable Rate Bonds of a Series, the maximum Adjusted Debt Service on such Series shall be determined by reference to the Pro Forma Bond Issue for the Variable Rate Bonds of such Series set forth in the Supplemental Resolution authorizing such Series.

  • Liquidity Reserve Account shall have the meaning set forth in Section 8.2(A)(iii).

  • Expense Reserve Account The trust account established pursuant to Section 10.3(d).

  • Reserve Account Amount means, for any Distribution Date, the amount on deposit in and available for withdrawal from the Reserve Account on such Distribution Date (after giving effect to all deposits to and withdrawals from the Reserve Account on the preceding Distribution Date, or, in the case of the initial Distribution Date, the Closing Date), including all interest and other income (net of losses and investment expenses) earned on such amount during the preceding Collection Period.

  • Series Reserve Account means the Reserve Account for the Series of Bonds established in the Reserve Fund by Supplemental Indenture in an amount equal to the Series Reserve Account Requirement for such Series of Bonds.

  • Reserve Account Excess Amount means, with respect to any Payment Date, an amount equal to the excess, if any, of (a) the amount of cash or other immediately available funds in the Reserve Account (excluding any net investment earnings) on that Payment Date, after giving effect to all deposits to and withdrawals from the Reserve Account on such Payment Date, over (b) the Specified Reserve Account Balance with respect to such Payment Date.

  • Required Accumulation Reserve sub-Account Amount means, with respect to any Monthly Period during the Accumulation Reserve Funding Period, an amount equal to (i) 0.5% of the Outstanding Dollar Principal Amount of the Class A(2024-1) Notes as of the close of business on the last day of the preceding Monthly Period or (ii) any other amount designated by the Issuer; provided, however, that if such designation is of a lesser amount, the Note Rating Agencies shall have provided prior written confirmation that a Ratings Effect will not occur with respect to such change.

  • Accumulation Reserve Funding Period shall not apply if the Calculation Agent on behalf of the Issuer notifies the Indenture Trustee that it expects the Accumulation Period Length to be adjusted to one (1) month, and otherwise shall mean a period commencing on the first Distribution Date on which a condition in the right column of the following table was in effect on the immediately preceding Distribution Date, if the Distribution Date is a Distribution Date described in the corresponding left column of the following table, and ending on the Distribution Date immediately preceding the earlier to occur of:

  • Available Reserve Account Amount means, with respect to any Distribution Date, the lesser of (a) the amount on deposit in the Reserve Account on such date (before giving effect to any deposit to be made to the Reserve Account on such date) and (b) the Required Reserve Account Amount.

  • Required Reserve Fund Amount With respect to any Distribution Date on which the Net Excess Spread is less than 0.25%, the amount, if any by which (a) the product of 1.00% and the Pool Balance for such date exceeds (b) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. With respect to any Distribution Date on which the Net Excess Spread is equal to or greater than 0.25%, the amount, if any, by which (i) $1,000 exceeds (ii) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. Provided, however, that on any Distribution Date on which the Class Principal Amount of each Class of LIBOR Certificates has been reduced to zero, the Required Reserve Fund Amount shall be zero.

  • Excess Reserve Fund Account The separate Eligible Account created and maintained by the Trustee pursuant to Sections 3.07(b) and 3.07(c) in the name of the Trustee for the benefit of the Regular Certificateholders and designated "Deutsche Bank, National Trust Company in trust for registered Holders of Morgan Stanley ABS Capital I Inc. Trust 2006-HE3, Mortgage Pass-Through Xxxxxfxxxxxx, Series 2006-HE3." Funds in the Excess Reserve Fund Account shall be held in trust for the Regular Certificateholders for the uses and purposes set forth in this Agreement. Amounts on deposit in the Excess Reserve Fund Account shall not be invested.

  • Specified Reserve Fund Balance means, on the Closing Date $3,846,153.85, and with respect to any Payment Date 0.25% of the initial aggregate principal balance of the Receivables as of the Cutoff Date.