Debt Service Reserve Amount definition

Debt Service Reserve Amount means:

Debt Service Reserve Amount means the principal, interest, fees, costs, expenses, indemnities, and any other amounts in each case payable in respect of the Lessor Notes on the next Rent Payment Date.

Debt Service Reserve Amount has the meaning specified in Section 2.14.

Examples of Debt Service Reserve Amount in a sentence

• On the Closing Date and on any date on which a payment is made pursuant to Section 6.9 of the Participation Agreement, the Debt Service Reserve Amount on such date of determination will be 100% of the projected debt service on the Lessor Notes for the succeeding six-month period, and may be satisfied by one or a combination of the following: (i) cash or (ii) a letter of credit issued by a bank or trust company that constitutes Acceptable Credit Support.

• Subject to Section 2.19(b), if on the first date of any fiscal quarter of the Borrower the amount in the Debt Service Account is greater than the Debt Service Reserve Amount on such date, at the Borrower’s request, the Agent shall release to the Borrower amounts from the Debt Service Account to the extent of such excess, provided that no Event of Default is continuing.

• Subject to Section 3.06 of the Security Agreement, if on the first date of any fiscal quarter of the Borrower the amount in the Debt Service Account is less than the Debt Service Reserve Amount on such date, within ten Business Days of such date the Borrower shall transfer League Pledged Revenue Receipts and Local Pledged Revenue Receipts deposited into the Collection Account in an amount equal to such shortfall into the Debt Service Account.

• Subject to Section 3.06(d) of the Security Agreement and to the terms of the NBA Consent Letter in each event, at any time that the amount in the Debt Service Account is less than the Debt Service Reserve Amount, League Pledged Revenue Receipts deposited into the Collection Account shall be transferred into the Debt Service Account to the extent required so that the amount in the Debt Service Account is equal to the Debt Service Reserve Amount.

• Issuance of the Notes On the Issue Date, the Subscription Price of the Senior Notes, the Mezzanine Notes and the Junior Notes will be paid, respectively, by the Senior Notes Underwriters, the Mezzanine Notes Underwriter and the Junior Notes Underwriter, in accordance with the Terms and Conditions and the relevant Subscription Agreement in order to fund the Purchase Price of the Portfolio and the Debt Service Reserve Amount as of the Issue Date.

More Definitions of Debt Service Reserve Amount

Debt Service Reserve Amount has the meaning assigned to such term in Section 5.13(a).

Debt Service Reserve Amount means the amount, as of the date of determination, equal to Consolidated Projected Debt Service for the six-month period immediately following the date of the then most recent financial statements of the Borrower.

Debt Service Reserve Amount means, as of any date of determination, the aggregate amount of cash on deposit in the Debt Service Reserve Account, plus the aggregate fair market value of all Permitted Investments on deposit therein at such time, plus the amount available to be drawn or demanded under all Debt Service Reserve Support Instruments credited to such account at such time.

Debt Service Reserve Amount means on the Issue Date and on each Payment Date thereafter the higher of (i) an amount equal to 2% of the Principal Amount Outstanding of the Rated Notes as at the immediately preceding Payment Date; and (ii) €3,000,000.00.

Debt Service Reserve Amount means the amount that the Borrower is required to have on deposit in the Debt Service Reserve Account pursuant to Section 5.14 (Debt Service Reserve Amount).

Debt Service Reserve Amount means an amount equal to $30,000.

Debt Service Reserve Amount means, at any time, an amount equal to the projected interest payments in respect of the Notes payable by the Issuer during the next six (6) months, being EUR 2,625,000 following the First Issue Date.