Debt Service Reserve Required Balance definition

Debt Service Reserve Required Balance means, as of the end of each fiscal quarter of the Borrower, an amount equal to Mandatory Debt Service projected to become due during the next succeeding six (6) months, as calculated by the Administrative Agent.

Debt Service Reserve Required Balance means, on the Closing Date, $6,200,000, and thereafter an amount equal to the aggregate amount of the principal and interest due on the Senior Secured Notes on the next succeeding semi-annual scheduled payment date.

Debt Service Reserve Required Balance means, individually and collectively, as applicable, any Senior Debt Service Reserve Required Balance or the TIFIA Debt Service Reserve Required Balance.

Examples of Debt Service Reserve Required Balance in a sentence

• The Debt Service Reserve Account shall have been funded in an amount equal to not less than the Debt Service Reserve Required Balance.

• The Borrower shall have funded the Debt Service Reserve Account with the initial Debt Service Reserve Required Balance, other than any portion thereof that will be wired by the Administrative Agent to the Collateral Agent out of the proceeds of the Borrowing of Loans.

• Funds on deposit in the Debt Service Reserve Account shall be transferred to the Debt Payment Account as and when needed pursuant to Section 7.5. If at any time amounts on deposit in the Debt Service Reserve Account, together with the amount available for drawing under any Debt Service Reserve Letter of Credit, shall exceed the then current Debt Service Reserve Required Balance, such excess shall be transferred to the Revenue Account.

• The Debt Service Reserve Account shall have been funded with Cash Revenues in an amount which when added to the Debt Service Line of Credit Facility Commitment is equal to the Debt Service Reserve Required Balance.

• The Borrower shall initially fund the Debt Service Reserve Fund up to the Debt Service Reserve Required Balance on or before the Conversion Date with the making of a cash deposit and/or the delivery of a Debt Service Reserve Letter of Credit to the Collateral Agent.

More Definitions of Debt Service Reserve Required Balance

Debt Service Reserve Required Balance means, as of any Semi-annual Payment Date, the amount specified for such Semi-annual Payment Date in Schedule 10.10, which amount shall remain constant at all times thereafter until the following Semi-annual Payment Date, provided that in no event shall the Debt Service Reserved Required Balance be less than, as of any date, an amount equal to the forecasted scheduled Debt Service for the next succeeding six month period.

Debt Service Reserve Required Balance means an amount equal to the sum of the next two (2) quarterly principal and interest payments coming due on the Loans.

Debt Service Reserve Required Balance means, as of the date of the First Amendment, prior to the end of the Capitalized Interest Period, the projected maximum annual TIFIA Debt Service based on the most recent Financial Model delivered to the TIFIA Lender. Such Debt Service Reserve Required Balance amount shall be subject to adjustment as of the end of the Capitalized Interest Period pursuant to the determination of the final Outstanding TIFIA Loan Balance pursuant to Section 9 (b) and shall equal the maximum annual TIFIA Debt Service.

Debt Service Reserve Required Balance means, as applicable, the TIFIA Debt Service Reserve Required Balance or any Pari Passu Debt Service Reserve Required Balance.

Debt Service Reserve Required Balance. Debt Service Reserve Fund', 'Interest Payment Date', 'Principal Fund' and 'Principal Payment Date'. 3. Section 2.1 is hereby amended by deleting the words "opposite such Bank's name on the signature pages hereof" in the sixth line of such section and substituting therefor "in Annex I or Annex II hereto, as applicable". Annex I hereto is hereby added to the Amended and Restated Debt Service Reserve Letter of Credit and Reimbursement Agreement as Annex I. Annex II hereto is hereby added to the Amended and Restated Debt Service Reserve Letter of Credit and Reimbursement Agreement as Annex II.

Debt Service Reserve Required Balance means, at any date of determination thereof, the sum of (a) the next succeeding semiannual principal and interest payment on the Initial Bonds, (b) the next succeeding principal and interest payment on the Additional Bonds, if any, and (c) the next succeeding interest payment under any ACS LOC Reimbursement Agreement with respect to which the Company is the obligor.

Debt Service Reserve Required Balance means the amount equal to the next succeeding semi-annual scheduled payment of principal and interest due and payable on Outstanding Bonds plus, if a DSR LOC is to be provided, an amount corresponding to six months of interest on the maximum amount of such DSR LOC, as established by the Partnership and the DSR LOC Agent pursuant to the DSR LOC Reimbursement Agreement.