Minimum Debt Service Reserve Requirement definition

Minimum Debt Service Reserve Requirement means, on any date, scheduled principal plus interest payable on the Notes on the two Payment Dates following such date.

Minimum Debt Service Reserve Requirement is defined in the Depositary Agreement.

Minimum Debt Service Reserve Requirement means $3,000,000.

Examples of Minimum Debt Service Reserve Requirement in a sentence

• Contemporaneously with the Closing, the Company shall deposit or cause to be deposited the Minimum Debt Service Reserve Requirement in the Debt Service Reserve Account.

• The Issuer shall deposit the Minimum Debt Service Reserve Requirement in the Debt Service Reserve Account and $640,797 in the Maintenance Reserve Account, or, in lieu thereof, provide Acceptable Letters of Credit in accordance with the Depositary Agreement, and the Issuer shall deposit $253,617 in the Upgrade Reserve Account.

• The Issuer shall deposit the Minimum Debt Service Reserve Requirement in the Debt Service Reserve Account and $1,807,890 in the Maintenance Reserve Account, or, in lieu thereof, provide Acceptable Letters of Credit in accordance with the Depositary Agreement, and the Issuer shall deposit $3,000,000 in the Raft River Capital Expenditure Account.

• The undersigned, a Senior Financial Officer of the Grantor, hereby certifies that as of the date hereof, the stated amount credited to the Debt Service Reserve Account exceeds the Minimum Debt Service Reserve Requirement by $_____________.

• On the date of the Closing, the Grantor will deposit the Minimum Debt Service Reserve Requirement into the Debt Service Reserve Account.

More Definitions of Minimum Debt Service Reserve Requirement

Minimum Debt Service Reserve Requirement means, as of the Conversion Date, and for each Repayment Date thereafter, as applicable, an amount not to exceed the maximum amount of principal and interest payments under the Note issued by Borrower in favor of Lender during the following six (6) months and all fees projected with respect thereto (as reflected in the Conversion Date Base Case Model).

Minimum Debt Service Reserve Requirement means $1,594,437.

Minimum Debt Service Reserve Requirement in Schedule B of the Existing Note Purchase Agreement is hereby amended in its entirety to read as follows:

Minimum Debt Service Reserve Requirement means (i) $3,000,000 through and including May 30, 2015, (ii) $4,500,000 from and including May 31, 2015 through and including January 30, 2016, (iii) $6,000,000 from and including January 31, 2016 through and including August 30, 2016, and (iv) $7,500,000 thereafter.

Minimum Debt Service Reserve Requirement means an amount equal to scheduled principal and interest payments on the Notes for (a) prior to the successful extension of the RRG-2 Well, the 12-month period following such date, and (b) following the successful extension of the RRG-2 Well, the 6-month period following such date; provided that at the Closing the amount shall equal $1,799,841. For the purposes of the Minimum Debt Service Reserve Requirement, a successful extension of the RRG-2 Well means that the RRG-2 Well contributes at least an additional $500,000 to the annual cash flow of the Raft River Project Company.

Minimum Debt Service Reserve Requirement means $4,000,000, as of the Closing. After the Closing, the Minimum Debt Service Reserve Requirement shall be reduced by an amount equal to 10% of the principal amount of any prepayments of the Notes pursuant to Section 8.

Minimum Debt Service Reserve Requirement means, as of a given date, the amount of Debt Service due and payable over the following 6 month period.