Estimated Debt Service Requirement definition

Estimated Debt Service Requirement means the schedule of principal and interest payments for a hypothetical Series of Bonds that refunds a Balloon Payment that is prepared by the Debt Manager and that meets the requirements of Section 5.6.
Sample 1Sample 2Sample 3
Estimated Debt Service Requirement means the schedule of principal and interest payments for a hypothetical Series of Bonds or a hypothetical Series of Subordinate Obligations that refunds a Balloon Payment which schedule is prepared by an Authorized Representative and that meets the requirements of Section 10.01(f) with respect to a Series of Bonds or the requirements of Section 10.04(f) with respect to a Series of Subordinate Obligations.
Sample 1

Examples of Estimated Debt Service Requirement in a sentence

  • The annual installments shall be assumed to be due on the first day of each Fiscal Year, with the first installment due at least six months after the date on which the Estimated Debt Service Requirement is calculated.

  • The Estimated Debt Service Requirement for Balloon Payments shall be calculated in accordance with this Section 5.6.

  • The Estimated Debt Service Requirement for Balloon Payments shall be calculated in accordance with this Section 6.4.

  • In addition to allowing refunding of maturities of Outstanding Senior Lien Borrowings which are not Balloon Payments, this Section 5.2 is intended to allow Outstanding Senior Lien Borrowings which comprise a Balloon Payment to be refunded with Parity Senior Lien Indebtedness when the Annual Debt Service on the refunding Parity Senior Lien Indebtedness does not exceed the Estimated Debt Service Requirement for the refunded Outstanding Senior Lien Borrowings in any Fiscal Year by more than $5,000.

  • Each Balloon Payment shall be assumed to be paid according to its Estimated Debt Service Requirement.

  • The Estimated Debt Service Requirement for Balloon Payments shall be calculated in accordance with this Section 5.4.

  • The Estimated Debt Service Requirement for Balloon Indebtedness shall be calculated in accordance with this Section 6.4.

  • Therefore, almost all of the information provided in tables 6 and 7 reflect international bond stocks.financing role for reporting banks.

  • The Estimated Debt Service Requirement for Balloon Payments shall be calculated in accordance with this Section5.4.

  • For the tests for issuing Parity Senior Lien Indebtedness in Section 5.1, the covenants in Section 7.4, and any other applicable tests in this Master Borrowing Declaration: The schedule described in this Section5.4 shall be used to calculate each Estimated Debt Service Requirement.

Related to Estimated Debt Service Requirement

  • Debt Service Requirements means the aggregate principal payments (whether at maturity or pursuant to scheduled mandatory sinking fund redemption requirements) and interest payments on the Bonds for the period of time for which calculated; provided, however, that for purposes of calculating such amount, principal and interest shall be excluded from the determination of Debt Service Requirements to the extent that such principal or interest is payable from amounts deposited in trust, escrowed or otherwise set aside for the payment thereof with the Paying Agent or other commercial bank or trust company located in the State and having full trust powers.

  • Maximum Annual Debt Service Requirement means, at any given time of determination, the greatest amount of principal, interest and Amortization Installments coming due in any current or future Bond Year with regard to the Series of Bonds for which such calculation is made; provided, the amount of interest coming due in any Bond Year shall be reduced to the extent moneys derived from the proceeds of Bonds are used to pay interest in such Bond Year.

  • Debt Service Reserve Requirement means, as of any date of calculation, and for any Fiscal Year, the amount equal to the maximum Adjusted Aggregate Debt Service on Bonds in the current or any future Fiscal Year on all Bonds Outstanding; provided, however, that if, upon the issuance of a Series of Bonds, such amount would require moneys, in an amount in excess of the maximum amount permitted under the Code to be deposited therein from the proceeds of such Bonds, to be deposited therein, the Debt Service Reserve Requirement shall mean an amount equal to the sum of the Debt Service Reserve Requirement immediately preceding issuance of such Bonds and the maximum amount permitted under the Code to be deposited therein from the proceeds of such Bonds, as certified by an Authorized Representative of the Authority; provided, further, that, if (i) the payment of the Principal Installments of or interest on any Series of Bonds or portion thereof is secured by a Special Credit Facility, (ii) the payment of the Tender Option Price of any Option Bond of a Series is secured by a Special Credit Facility or (iii) the Authority has determined in a Supplemental Resolution authorizing the issuance of a Series of Bonds that such Series of Bonds will not be secured by the Common Account in the Debt Service Reserve Fund, the Supplemental Resolution authorizing such Series may specify the Debt Service Reserve Requirement, if any, for the Bonds of such Series: provided, further, that if, as a result of the expiration or termination of a Financial Guaranty, a deficiency shall be created in the Debt Service Reserve Fund, the Debt Service Reserve Requirement shall be calculated so as to exclude the amount of such deficiency and the Debt Service Reserve Requirement shall be increased in each of the five Fiscal Years after the date such deficiency was created by an amount equal twenty per centum (20%) of the aforesaid deficiency.For the purpose of calculating the Debt Service Reserve Requirement for any Variable Rate Bonds of a Series, the maximum Adjusted Debt Service on such Series shall be determined by reference to the Pro Forma Bond Issue for the Variable Rate Bonds of such Series set forth in the Supplemental Resolution authorizing such Series.

  • Debt Service Reserve Fund Requirement means, with respect to the 2016 Series A Bonds and as of each determination date, an amount equal to maximum annual debt service on the 2016 Series A Bonds Outstanding from time to time and, with respect to any other Series of Bonds, the amount set forth in the Related Series Indenture.

  • Debt Service Coverage Ratio means a ratio for the applicable period in which:

  • Annual Debt Service Charge as of any date means the amount which is expensed in any 12-month period for interest on Debt of the Company and its Subsidiaries.

  • Annual Debt Service as of any date means the maximum amount which is expensed in any 12-month period for interest on Debt of the Company and its Subsidiaries.

  • Debt Service means, with respect to any particular period of time, scheduled principal and interest payments under the Note.

  • Collateral Coverage Ratio means (i) the aggregate value of any relevant collateral security, including the pro rata value of any shared collateral, divided by (ii) the outstanding aggregate principal amount of the relevant debt.

  • Debt Service Coverage means that for every $1.00 of debt service required to be paid there must be $1.15 of Net Operating Income available. A worksheet for the calculation of Debt Service Coverage is found in the Report of Operations attached hereto as Exhibit "H" and incorporated herein by this reference.

  • Reserve Requirement means, with respect to an Interest Period, the maximum aggregate reserve requirement (including all basic, supplemental, marginal and other reserves) which is imposed under Regulation D on “Eurocurrency liabilities” (as defined in Regulation D).