Maximum Debt Service definition

Maximum Debt Service has the meaning set forth in Section 6.3.
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Maximum Debt Service means the highest principal and interest requirements (to the extent not capitalized) on the Bonds then Outstanding during any Fiscal Year. With respect to any Series of Variable Rate Bonds, the following methods shall determine the interest rate to be used:
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Maximum Debt Service means the maximum amount payable by the City in any single Fiscal Year following the date of calculation as Debt Service on all Obligations (as defined in the Master Resolution) outstanding on the date of calculation, calculated as provided in the Master Resolution and the Agreement. 4820-4078-3180.6 XX Xxxxxx Xxxxxx RCA Fee Letter During any time that this paragraph 2 is applicable, the Debt Service Coverage Ratio (“DSCR” in the table below) will be calculated by the City on the first Business Day of each April and October and upon such calculation the Commitment Fee and the Applicable Spread shall equal the number of basis points on the level in the chart below that corresponds to the applicable Debt Service Coverage Ratio. APPLICABLE SPREAD LEVEL DSCR COMMITMENT FEE TAXABLE RATE TAX EXEMPT RATE 1 >2.0x 25.0 bps 45.0 bps 35.0 bps 2 >1.85x-≤2.0x 27.5 bps 50.0 bps 40.0 bps 3 >1.70x-≤1.85x 30.0 bps 57.5 bps 47.5 bps 4 >1.45-≤1.70x 35.0 bps 67.5 bps 57.5 bps 5 >1.25-≤1.45x 40.0 bps 82.5 bps 72.5 bps 6 ≥1.10x-≤1.25x 55.0 bps 107.5 bps 97.5 bps 7 <1.10x 155.0 bps If at any time an Event of Default shall occur and be continuing (whether or not such Event of Default is declared and whether or not waived by the Bank) under the Agreement, the Commitment Fee, computed as described in this Section, shall be immediately increased, without notice, to a Commitment Fee Rate equal to the Commitment Fee set forth on Xxxxx 0 above. If the DSCR falls to Level 7 the Notes shall bear the Default Rate.
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Examples of Maximum Debt Service in a sentence

  • This Maximum Debt Service Requirement on the Series 1996 Bonds occurs in Fiscal Year 2036.

  • Sinking Fund Reserves represent the legal requirements as stipulated in the General Bond Ordinance wherein it is stated that Fund Balances, including investments at Market Value, must be maintained at an amount at least equal to the Maximum Debt Service Requirements (MDSR) in any subsequent year of all bonds outstanding.

  • Total Maximum Debt Service Statutory Limitation As of July 1, 2015, state law requires the total debt service payments for debt issued and outstanding through the SDBA and the vocational education program of the SDHEFA in South Dakota not to exceed 4.0% of South Dakota’s total ongoing general fund revenue for the most recently completed state fiscal year.

  • Determine the amount of contract authority required by multiplying the TDC by the Maximum Debt Service Contribution Percentage.

  • Any amount of outstanding principal and accrued interest on such developer advances that remains unpaid as of the expiration of the Maximum Debt Service Mill Levy term shall be deemed to be forever discharged and satisfied in full.

  • The Maximum Debt Service Mill Levy shall be a property tax levy of fifty (50) mills levied by the District on the taxable property of the District, which levy may be adjusted to take into account legislative or constitutionally imposed adjustments in assessed values or their method of calculation so that, to the extent possible, the revenue produced by such mill levy is neither diminished nor reduced as a result of such changes.

  • For allocating additional blocks, LACNIC shall verify that the organization presenting the application is in compliance with contractual obligations.

  • In those intersections of race, gender, sexual fluidity and artistic profession, I exist in the margins.

  • Upon the issuance of the initial Series of Bonds, the Port shall deposit into the CFC Rolling Coverage Account an amount equal to twenty-five percent (25%) of the Maximum Debt Service Requirement on Senior Bonds from any lawful source of funds.

  • TAX ADEQUACY (Includes Self-Supporting Debt)2017 Freeze Adjusted Net Taxable Assessed Valuation $ 3,462,594,756Maximum Annual Debt Service Requirements (Fiscal Year Ending 9-30-2020) 8,296,685 *Indicated required I&S Fund Tax Rate at 98% Collections to produce Maximum Debt Service requirements * Includes the Certificates.$ 0.2445 *Note: Above computations are exclusive of investment earnings, delinquent tax collections and penalties and interest on delinquent tax collections.


More Definitions of Maximum Debt Service

Maximum Debt Service means the highest aggregate principal and interest requirements (to the extent not paid from the proceeds of Bonds or investment earnings thereon) on the Bonds then Outstanding during the then current or any future Fiscal Year. In the case of determining the Maximum Debt Service for purposes of Section 3.3 of this Ordinance, the provisions of items (b) through (d) in the definition of “Debt Service” shall apply, as applicable.
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Maximum Debt Service means, at any time, the maximum amount required in the then current or any future Fiscal Year (calculated in accordance with Section 3.06(e) with respect to Designated Maturity Debt) to pay (i) the proposed indebtedness of the County (A) which will be payable from Pledged Revenues, or (B) for which any Pledged Revenues will be pledged; and (ii) all Series 2017 Bonds Outstanding and any other outstanding bonds on a parity therewith which are payable from Pledged Revenues. In calculating Maximum Debt Service for the issuance of Additional Bonds under Section 3.9.B., interest payments on any bonds which are eligible to receive Federal Direct Payments shall be calculated net of expected receipt of such Federal Direct Payments. In the case of Variable Rate Bonds, interest on such Variable Rate Bonds shall be calculated on the same assumptions as set forth in the definition of Variable Rate Bonds.
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Maximum Debt Service means the highest aggregate principal and interest requirements (to the extent not paid from the proceeds of Bonds or investment earnings thereon) on the Bonds then Outstanding during any then current or future Fiscal Year. In the case of determining the Maximum Debt Service for purposes of Section 3.3 of this Ordinance, interest on Variable Rate Indebtedness shall be calculated at the lesser of (a) the 25-Bond Revenue Index published by The Bond Buyer (or if no longer published, any reasonably equivalent nationally recognized index published for the periods in question selected by the Town) no more than one month prior to the date of calculation or (b) the maximum interest rate allowable on such Variable Rate Indebtedness.
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Related to Maximum Debt Service

  • 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, excluding amortization of debt discounts and deferred financing costs.

  • Maximum Annual Debt Service means, as of the date of any calculation, the largest Annual Debt Service during the current or any future Bond Year.

  • Total Debt Service means the sum of (i) scheduled or other required payments of principal on Indebtedness, and (ii) Interest Expense, in each case for such period.

  • Aggregate Debt Service means, with respect to any particular period of time, the sum of (a) the Debt Service, (b) the Mortgage Debt Service and (c) the Other Mezzanine Debt Service.

  • 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.

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

  • 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.

  • Monthly Debt Service Payment Amount means, for each Monthly Payment Date, an amount equal to the amount of interest which is then due on all the Components of the Loan in the aggregate for the Interest Period during which such Monthly Payment Date occurs.

  • Cash Flow Available for Debt Service for any period, means (i) Cash Flow received during such period minus (ii) (A) all O&M Costs paid during such period and (B) if an Equity Cure has been made in any fiscal quarter during the period for which Cash Flow Available for Debt Service is calculated, the lesser of the aggregate amount of (x) such Equity Cure during such period and (y) the aggregate amount of cash distributions paid by the Company during such period.

  • Debt Service Reserve means the reserve for payment of principal and interest on the Bonds, created and established by Sections 502 and 506 of the General Trust Indenture.

  • Maximum Mortgage Rate With respect to each Adjustable Rate Mortgage Loan, the percentage set forth in the related Mortgage Note as the maximum Mortgage Rate thereunder.

  • Debt Service Charges means for any Measurement Period, the sum of (a) Consolidated Interest Charges required to be paid for such Measurement Period, plus (b) regularly scheduled principal payments required to be made on account of Indebtedness (excluding the Obligations and any Synthetic Lease Obligations and Capital Lease Obligations) for such Measurement Period, in each case determined on a Consolidated basis in accordance with GAAP.

  • Debt Service Reduction With respect to any Mortgage Loan, a reduction in the scheduled Monthly Payment for such Mortgage Loan by a court of competent jurisdiction in a proceeding under the Bankruptcy Code, except such a reduction resulting from a Deficient Valuation.

  • Debt Service Ratio means for any period the Modified Cash NOI for all consolidated and unconsolidated properties of the Operating Partnership based on its share (determined on a proportional ownership basis based upon the Operating Partnership’s ownership (direct or indirect) in each of its Subsidiaries and Joint Ventures) divided by Debt Service.

  • Maximum Lifetime Mortgage Rate The maximum level to which a Mortgage Interest Rate can adjust in accordance with its terms, regardless of changes in the applicable Index.

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

  • Average Annual Debt Service means, at the time of calculation, the sum of the Annual Debt Service for the remaining years of the loan to the last scheduled maturity of the loan divided by the number of those years.

  • Maximum Leverage Ratio shall have the meaning assigned thereto in the Pricing Side Letter.

  • Minimum Mortgage Rate With respect to each Adjustable-Rate Mortgage Loan, the percentage set forth in the related Mortgage Note as the minimum Mortgage Rate thereunder.

  • Consolidated Debt Service means, for any relevant period, the sum (without double counting), determined in accordance with GAAP, of:

  • Pro Forma Debt Service means with respect to the Borrower and the Restricted Subsidiaries, on a consolidated basis, with respect to the next succeeding complete twelve (12) month period following the calculation date, and after giving effect to any Interest Rate Hedge Agreements and Eurodollar Advances, the amount of all (i) scheduled payments of principal on Indebtedness for Money Borrowed for such period (including imputed principal payments with respect to Capitalized Lease Obligations), determined on the basis of the aggregate amount of Indebtedness for Money Borrowed outstanding as of the date of calculation and giving effect to any mandatory reductions in the Commitments and the operation of the other terms of this Agreement (or other instruments or agreements governing Indebtedness for Money Borrowed) during such next succeeding twelve (12) month period, (ii) cash interest payable (including imputed interest with respect to Capitalized Lease Obligations) with respect to Indebtedness for Money Borrowed of such Persons, (iii) fees payable under this Agreement and the other Loan Documents (but specifically excluding fees paid during previous periods but amortized during such period in accordance with GAAP), and (iv) other payments (including fees) payable by such Persons during such period in respect of Indebtedness for Money Borrowed (other than voluntary prepayments under Section 2.7 hereof). For purposes of this definition, where interest payments for the twelve (12) month period immediately succeeding the calculation date are not fixed by way of Interest Rate Hedge Agreements, Eurodollar Advances, or otherwise for the entire period, interest shall be calculated on such Indebtedness for Money Borrowed for periods for which interest payments are not so fixed at the Eurodollar Basis (as determined on the date of calculation and based on the then current adjustment under Section 2.3(f) hereof) for a Eurodollar Advance having an Interest Period of twelve (12) months; provided, however, that if such Eurodollar Basis cannot be determined in the reasonable opinion of the Administrative Agent, such interest shall be calculated using the Base Rate Basis as then in effect.

  • Consolidated Debt Service Coverage Ratio means, as of any date of determination, the ratio of (a) the sum of (i) Consolidated EBITDA for the most recently completed four fiscal quarters minus (ii) income taxes payable for such period minus (iii) Consolidated Capital Expenditures for such period to (b) the sum of (i) Consolidated Interest Charges for such period plus (ii) Consolidated Scheduled Funded Debt Payments for such period.

  • EBITDA Coverage Ratio defined as EBITDA divided by the aggregate of total interest expense plus the prior period current maturity of long-term debt and the prior period current maturity of subordinated debt.

  • Loan Limit means, at any time, the lesser of (a) the Total Commitment at such time and (b) the Borrowing Base at such time (including as it may be reduced pursuant to Section 2.14(h)).