DSRF Requirement definition

DSRF Requirement means, with respect to a Debt Service Reserve Fund established for a Series of Bonds, (i) the maximum Principal and Interest Requirements on such Bonds in the then-current or any future Fiscal Year or (ii) such other amount as specified in the Related Series Supplement.
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DSRF Requirement means the lesser of the following: (i) the Maximum Annual Debt Service on the Bonds; (ii) ten percent (10%) of the stated principal amount of the Bonds; and (iii) 125% of the average annual principal and interest requirements of the Bonds, which DSRF Requirement will be confirmed to the Trustee by the District at the beginning of each Bond Year.
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DSRF Requirement means one hundred percent (100%) of the Maximum Annual Debt Service on the Bonds (other than Subordinate Bonds) then outstanding.
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Examples of DSRF Requirement in a sentence

  • If on any DSRF Determination Date the amount in any Debt Service Reserve Fund (i) is less than its DSRF Requirement, the Trustee shall promptly notify NVTC of such fact and the amount of the deficiency, or (ii) greater than the DSRF Requirement, the Trustee shall promptly notify NVTC of such fact and the amount of the surplus.

  • Any DSRF Credit Facility will permit the Trustee to draw or obtain under it for deposit in the Debt Service Reserve Fund amounts that, when combined with the other amounts in such Fund, are not less than the applicable DSRF Requirement.

  • The remaining amount of the DSRF Requirement applicable to the Series 2011 Bonds shall be derived from proceeds of the Series 201lB Bonds.

  • If on any DSRF Determination Date the amount in any Debt Service Reserve Fund is less than its DSRF Requirement, the Trustee shall promptly notify NVTC of such fact and the amount of the deficiency.