DSR Required Balance definition

DSR Required Balance means (a) on or prior October 31, 2024, $5,000,000 and (b) thereafter, all principal and interest in respect of Loans required to be paid by the Borrower under the Loan Documents scheduled to be due during any three (3) month period commencing from (and excluding) any Payment Date up to (but including) the immediately succeeding Payment Date and occurring on or before the Maturity Date, as set forth in the then current Base Case Financial Model as confirmed by the Administrative Agent (acting at the direction of the Required Lenders).

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DSR Required Balance has the meaning given in the Depositary Agreement.

DSR Required Balance has the meaning set forth in the Collateral Agreement.

Examples of DSR Required Balance in a sentence

The Debt Service Reserve Account shall have been funded in cash or by the posting of DSR Letters of Credit to the DSR Required Balance in accordance with the Collateral Agreement.
The Borrower shall have funded or shall fund on the Term Conversion Date the Debt Service Reserve Account in cash or through issuance of DSR Letters of Credit in an amount equal to the DSR Required Balance on such date.
Borrower shall use the DSR Letter of Credit to support its obligation to maintain the DSR Required Balance in the Debt Service Reserve Account pursuant to Section 4.6 of the Depositary Agreement.
If at any time the amount of Account Funds in the Debt Service Reserve Account exceeds the then current DSR Required Balance, the Administrative Agent shall direct the Depositary Agent to transfer an amount of Account Funds equal to such excess from the Debt Service Reserve Account to the Post-Completion Revenue Account.
On the Term Period Commencement Date, the amount on deposit in or credited to the Debt Service Reserve Account, together with the stated amount of any Qualified Letter of Credit available for payment to Administrative Agent for disbursement to the Debt Service Reserve Account, shall be not less than 50% of the DSR Required Balance, and each Project Company has available to it in its O&M Account or in use as working capital the amount of working capital required under the applicable Depositary Agreement.
Such amount requested equals the amount necessary to fund the Debt Service Reserve Account so that the amount then on deposit in or credited to the Debt Service Reserve Account plus the aggregate Drawing Amount under all issued and outstanding Letters of Credit issued for such purpose as of the date hereof equals the DSR Required Balance as of the date hereof.
Such DSR Letter of Credit may be issued solely to satisfy Borrower’s obligation to maintain the DSR Required Balance, it being understood that the Stated Amount of the DSR Letters of Credit shall never exceed the Total DSR LC Commitment.
Borrower may not reduce the Stated Amount of any DSR Letter of Credit if, after giving effect to such reduction, the Debt Service Reserve Account would not be funded to the DSR Required Balance.
The Borrower shall have funded or shall fund on the Term Conversion Date the Debt Service Reserve Account, in cash or through issuance of DSR Letters of Credit, in an amount equal to the DSR Required Balance on such date.
Co-Borrowers shall have funded or shall fund on the Term Conversion Date the Debt Service Reserve Account in cash in an amount equal to the DSR Required Balance on such date.

More Definitions of DSR Required Balance

DSR Required Balance means, as of any date, an amount equal to all principal (other than the final principal payment of the Loans on the Maturity Date and excluding, for the avoidance of doubt, any principal required to be repaid pursuant to Section 2.1.6(c)), the LC Fee, the Commitment Fee, the Fronting Fee and interest in respect of the Term Loans (other than the LC Fee, the Commitment Fee, the Fronting Fee and interest in respect of the Term Loans payable on the Maturity Date) due or to become due within six months after such date. For the purposes of the foregoing, interest shall be determined after giving effect to any net payments expected to be made or received by Borrower with respect to any Interest Rate Agreements.

DSR Required Balance means, as of any date of determination, an amount equal to the Debt Service projected to be due during the next six (6)-month period following such date of determination.

DSR Required Balance means, as of any date, an amount equal to all principal and interest in respect of the Term Loans due or to become due within six months after such date.

DSR Required Balance. ’ means the aggregate amount of:

DSR Required Balance means, as of any date of determination, an amount equal to the Debt Service projected to be due during the next six (6)-month period following such date of determination plus (or minus), without duplication, any net payments reasonably anticipated to be payable by a Project Company or received by a Project Company, as the case may be, under Secured Hedge Agreements during such period, as reasonably determined by Borrower based on the assumption that interest will continue to accrue on the Term Loans and Incremental Term Loans at the blended fixed rate set forth in the Secured Hedge Agreements.have the meaning assigned to such term in the Credit Agreement.