Debt Service Reserve Required Amount definition

Debt Service Reserve Required Amount shall have the meaning given to it in the Depository Agreement.

Debt Service Reserve Required Amount on the Closing Date and on any Quarterly Payment Date occurring after the Closing Date, an amount no less than the aggregate scheduled principal amortization payment and interest (taking into account any payments projected to be made or received by the Borrower under any Interest Rate Hedging Agreements) under the Term Loans and the amount of any letter of credit and commitment fees projected to be payable in respect of the Revolving Facility for the six-month period occurring after such date but excluding the final principal installment of the Term Loan payable on the Maturity Date.

Debt Service Reserve Required Amount has the meaning set forth in the CADA.

Examples of Debt Service Reserve Required Amount in a sentence

• The Debt Service Reserve Account shall have been funded (or credited with funds), to the extent required, in an amount equal to the Debt Service Reserve Required Amount in accordance with the Depositary Agreement.

• After giving effect to such proposed Borrowing, the Debt Service Reserve Account shall be funded, or an Acceptable DSR Letter of Credit has been posted, in an aggregate amount greater than or equal to the Debt Service Reserve Required Amount.

• The Debt Service Reserve Account shall have been (or shall contemporaneously on the Closing Date be) funded in an amount equal to the Debt Service Reserve Required Amount with an Other Letter of Credit, cash or a combination thereof.

• The Debt Service Reserve Account shall have on deposit a credit balance of immediately available funds in an amount not less than the Debt Service Reserve Required Amount, provided that the initial funding of the Debt Service Reserve Account may be made with the proceeds of the Initial Term Loans.

• The Debt Service Reserve Account shall be funded to the Debt Service Reserve Required Amount from proceeds of the Closing Term Loans, Letters of Credit, Acceptable Letters of Credit or a combination thereof in accordance with the Depositary Agreement.

More Definitions of Debt Service Reserve Required Amount

Debt Service Reserve Required Amount means, as of any date, the amount equal to the projected scheduled Debt Service payable in respect of the succeeding six (6) months.

Debt Service Reserve Required Amount an amount equal to the aggregate scheduled principal amortization payment, interest and fees (taking into account any payments projected to be made or received by the Borrower under any Interest Rate Hedging Agreements) under the Facilities for the following six-month period.

Debt Service Reserve Required Amount means, as of any date, the amount equal to all of the following scheduled amounts payable in respect of any Loans that are then outstanding or that are pending pursuant to a Funding Notice for the period of time to and including [***] (or, in the case of any calculation prior to the Date Certain, for [***] (i) interest on the Loans (taking into account any Rate Contracts) scheduled to become due and payable during such period to the Lender, and (ii) principal payments of the Loans (excluding any mandatory prepayments) scheduled to become due and payable during such period to the Lender.

Debt Service Reserve Required Amount. (a) for the period from the Closing Date until the first Semi-Annual Payment Date, $5,500,000 and (b) on any Semi-Annual Payment Date occurring after the Closing Date, an amount no less than the aggregate scheduled principal amortization payment and interest (taking into account any payments projected to be made or received by the Borrower under any Interest Rate Hedging Agreements) under the Term Loans and the amount of any letter of credit and commitment fees projected to be payable in respect of the Revolving Facility for the six-month period occurring after such date.

Debt Service Reserve Required Amount means, for any Settlement Date prior to the Fourth Amendment Date, $0 and for any Quarterly Settlement Date after the Fourth Amendment Date means the sum of (i) the aggregate estimated interest on the Loans to accrue and be payable for the next two Monthly Settlement Periods, and (ii) the Amortization Payment Amount due to be paid for the next two Monthly Settlement Periods.

Debt Service Reserve Required Amount means, with respect to any Quarterly Date, the amount then-projected by the Borrower (such amount and supporting calculations to be provided, in writing, by the Borrower to the Administrative Agent at least five Business Days prior to such Quarterly Date) that is approximately equal to the amount of Debt Service scheduled to be due during the six-month period commencing on the day after such Quarterly Date; provided, however, that the Debt Service Reserve Required Amount shall not exceed $49,790,000 at any time, except as required to accommodate any Replacement Letter of Credit Facility.

Debt Service Reserve Required Amount means, at any time of determination, (a) on the Effective Date, (i) $181,000,000, and thereafter,plus (b) the Net Cash Proceeds of any capital contributions contemplated by clause (d) of the definition of “Borrower Contracted Cash Flow Available for Debt Service”, plus (c) the aggregate amount of all interest income received in cash or Cash Equivalents in respect of any amounts in the Debt Service Reserve Account, plus (d) the aggregate of all distributions and dividends received by the Borrower from the Project Parents in an amount not to exceed $25,000,000, minus (e) the aggregate amount of Debt Service payments actually made in an amount not to exceed the sum of clauses (a) and (c), minus (f) the aggregate amount of payments made by the Borrower and its Subsidiaries (other than Sabine Pass) in respect of operating expenses, overhead and tax payments in aggregate amount not to exceed (i) $2,000,000 from the Effective Date to the first Qualified Fiscal Quarter and (ii) $1,000,000 from the first Qualified Fiscal Quarter to August 30, 2012.