Monthly Debt Service definition

Monthly Debt Service for any calendar month means the sum of the Monthly Financing Charge for such calendar month.
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Monthly Debt Service means regularly scheduled monthly installments of principal and interest required to be paid by Lessor on a term loan or other term debt constituting Permitted Indebtedness secured only by Permitted Lessor Liens, it being understood and agreed that such monthly installments shall not include (a) default interest, penalties or late fees or charges, (b) gross-up or withholding payments, (c) payment of interest prior to accrual of such interest, (d) principal payments in excess of the greater of the amounts necessary to amortize the original principal amount of such Permitted Indebtedness either (i) in equal monthly payments of principal over a period of not less than ten (10) years, or (ii) on a straight line amortization method over a period not less than ten (10) years, (e) any “balloon” payment of principal, payment of principal at maturity, principal reductions required due to a failure to satisfy financial or other covenants or operating results, or other similar disproportionate payments of principal, (f) amounts due with respect to funding, hedging, swap or similar arrangements, or (g) other fees, charges or expenses.
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Monthly Debt Service shall have the meaning set forth in Section 7.21.
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Examples of Monthly Debt Service in a sentence

  • Borrower shall make a payment to Lender of interest in the amount of the Monthly Debt Service Payment Amount on the First Monthly Payment Date and on each Monthly Payment Date occurring thereafter to and including the Maturity Date.

  • The Tax and Insurance Escrow Fund and the Monthly Debt Service Payment Amount, shall be added together and shall be paid as an aggregate sum by Borrower to Lender.

  • The Monthly Debt Service Payment Amount due on any Payment Date shall first be applied to the payment of interest accrued during the preceding Interest Period and the remainder of such Monthly Debt Service Payment Amount shall be applied to the reduction of the unpaid Principal.

  • If a Monthly Interest Payment Advance is made with respect to the Trust Loan, then that Monthly Interest Payment Advance, together with interest on such Monthly Debt Service Advance, shall only be reimbursed out of future payments and collections on the Trust Loan, but not out of payments or other collections on the Companion Loans.

  • Any regularly scheduled Monthly Debt Service Payment that is received by Lender before the applicable Payment Date shall be deemed to have been received on such Payment Date solely for the purpose of calculating interest due.

  • Absent a demand by Lender, any such amounts shall be payable by Borrower in the same manner as provided for the payment of Monthly Debt Service Payments.

  • The Monthly Debt Service Payment Amount shall be applied first to accrued and unpaid interest and the balance to the Outstanding Principal Balance.

  • Unless otherwise expressly provided in this Loan Agreement, any prepayment required by any Loan Document of less than the entire unpaid principal balance of the Mortgage Loan shall not extend or postpone the due date of any subsequent Monthly Debt Service Payments, Monthly Replacement Reserve Deposit, or other payment, or change the amount of any such payments or deposits.

  • In no event shall the preceding sentence obligate Lender to make any adjustment to the Monthly Debt Service Payments.

  • The Monthly Debt Service Payment Amount due on any Payment Date shall be applied to the payment of interest accrued during the preceding Interest Period.


More Definitions of Monthly Debt Service

Monthly Debt Service means one 48th (1/48) of the aggregate principal amount of the Loan as at the date of expiry of the Availability Period;
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Monthly Debt Service. The monthly debt service (i.e. all interest, including without limitation, interest, if any, calculated at a default or penalty rate and principal) payments due under any Fee Mortgage Loan Documents during any calendar month including, without limitation, any costs, expenses and late charges incurred by the Lessor as a result of any failure by the Lessee to satisfy, on a timely basis, the Lessee's obligations under the Lease, but, specifically excluding any so-called "balloon payments" due at the maturity thereof. Net Income (or Net Loss): The net income (or net loss, expressed as a negative number) of the Facility for any period, after all taxes actually paid or accrued and all expenses and other charges determined in accordance with GAAP.
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Monthly Debt Service. Sub-account";
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