Examples of Net Debt Service in a sentence
Differences between the amount of Net Debt Service paid by Wholesale Customers prior to that year and the amount of Net Debt Service that they should have paid during that time based on the actual expenditure of proceeds will be taken into account in calculation of the balancing account for the fiscal year in which the proceeds were Substantially Expended.
The application of the remaining proceeds shall be proportionate to the allocation of the Net Debt Service to New Regional Assets.
The resulting allocation of Net Debt Service to New Regional Assets for a series of bonds will be used in the fiscal year in which the proceeds have been Substantially Expended and thereafter.
The Issuer shall, as long as any Bond remains outstanding, ensure that the Debt Service Cover Ratio on each testing date shall be equal to or shall exceed 1.2.For the avoidance of doubt, the Debt Service Cover Ratio will not be considered to be breached on a testing date if in relation to the Annual Relevant Period immediately preceding such testing date the Net Debt Service is negative or equal to zero.
Discussion ensued about the financing plan, which will convert prior unspent tax exempt proceeds to new project funds for Series A and B bonds, and refund of Series 2015 A bonds, which result in and the estimated Net Debt Service and savings.