Mandatory Sinking Account Payment definition

Mandatory Sinking Account Payment means, as of any date of calculation, with respect to the Term Bonds of any series and maturity, the principal amount required to be paid on a given date for the redemption before maturity or the purchase of such Term Bonds pursuant to a Series Indenture or Remarketing Indenture. Such amounts may be established as fixed-dollar amounts or by formula.

Mandatory Sinking Account Payment means, with respect to Bonds of any Series and maturity, the amount required by the Supplemental Indenture establishing the terms and provisions of such Series of Bonds to be deposited by the Authority in a Sinking Account for the payment of Term Bonds of such Series and maturity.

Mandatory Sinking Account Payment means, with respect to Term Bonds of any Series and maturity, and pursuant to, the Supplemental Indenture establishing the terms and provisions of such Series of Secured Obligations, the amount required to be deposited by the Borrower in a sinking account in the “Principal Fund” established pursuant to Article V of the Indenture for the payment of Term Bonds of such Series and maturity.

Examples of Mandatory Sinking Account Payment in a sentence

• All Bonds of any subseries and maturity purchased from the Principal Fund or deposited by the Borrower with the Trustee shall be allocated first to the next succeeding Mandatory Sinking Account Payment for such Bonds, then to the remaining Mandatory Sinking Account Payments for such Bonds, unless otherwise provided by Borrower Order.

• The Trustee, on each Principal Payment Date and each Mandatory Sinking Account Payment Date, shall deposit in the Principal Fund that amount of moneys representing the portion of the Base Rental Payments designated as the principal component coming due on such Principal Payment Date or Mandatory Sinking Account Payment Date.

• On or before the second Business Day preceding each Mandatory Sinking Account Payment date, the Trustee shall transfer the amount deposited in the Principal Account pursuant to Section 5.02 for the purpose of making a Mandatory Sinking Account Payment from the Principal Account to the Sinking Account.

• Redemption of Bank Bonds pursuant to optional redemption or special mandatory redemption shall be credited against the redemption of Bonds from Mandatory Sinking Account Payments pursuant to Section 3.01(c), first against the next succeeding Mandatory Sinking Account Payment and then against such future Mandatory Sinking Account Payments as the Authority may specify in a certificate of an Authorized Representative of the Authority.

• All Term Bonds purchased from the Sinking Account or deposited by the City with the Trustee shall be allocated first to the next succeeding Mandatory Sinking Account Payment, then pro-rata to the remaining Mandatory Sinking Account Payments in proportion to the amount of such Mandatory Sinking Account Payments.

More Definitions of Mandatory Sinking Account Payment

Mandatory Sinking Account Payment means the principal evidenced by the Certificates required to be paid on each Mandatory Sinking Account Payment Date pursuant to Section 4.01 of the Trust Agreement.

Mandatory Sinking Account Payment means (i) with respect to Senior Lien Bonds of any Series and maturity, the amount required by the Supplemental Indenture establishing the terms and provisions of such Series of Senior Lien Bonds to be deposited by the Issuer in the Senior Lien Principal Account for the payment of principal of Term Bonds of such Series and maturity, and

Mandatory Sinking Account Payment means the amount required by this Indenture to be paid by the Authority on any single date for the retirement of Bonds pursuant to Section 3.01(c).

Mandatory Sinking Account Payment means the amount required by Section 5.03 to be paid by the Trustee on any single date for the redemption of Bonds.

Mandatory Sinking Account Payment means the principal amount of any Bond required to be paid on each Mandatory Sinking Account Payment Date pursuant to the terms of this Trust Agreement or any Supplemental Trust Agreement.

Mandatory Sinking Account Payment means, with respect to Term Bonds of any maturity, the amount required by this Indenture to be paid on any single date for the retirement of Term Bonds of such maturity.

Mandatory Sinking Account Payment means the amount so designated which is established pursuant to Section 5.04 of this Indenture with respect to the Series 2017A Bonds.