Qualifying Debt Service definition

Qualifying Debt Service means, for all Accounting Periods to ----------------------- date in each Fiscal Year, (i) the Stipulated Debt Service, (ii) interest and principal actually paid or accrued on all Qualified Debt (other than the Permanent Loan and all refinancings thereof in an amount up to the original principal amount thereof), plus (iii) all fees related thereto and all penalties attributable to acts or omissions of Management Company. In no event, however, shall "Qualifying Debt Service" include, with respect to any indebtedness: (i) any balloon payments; or (ii) voluntary prepayments on the Permanent Loan; or (iii) any repayments of the portion of the principal and interest of any indebtedness which is incurred for the purpose of distributing the same to the Partners of Owner. The term "balloon payments," as used in this Agreement, shall mean any repayments or prepayments (whether voluntary or involuntary) of principal in any given Fiscal Year (regardless of whether the borrower is permitted or obligated to make the same) to the extent that any such repayments or prepayments exceed the principal amount, if any, that would have been payable during such Fiscal Year pursuant to the terms of such indebtedness.
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Qualifying Debt Service means: -----------------------
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Qualifying Debt Service means Qualifying Mortgage Debt Service ----------------------- and Other Qualifying Debt Service.
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Examples of Qualifying Debt Service in a sentence

  • First, Owner shall retain any Operating Profit (to the extent of Operating Profit in that Fiscal Year) in amounts sufficient to pay the Ground Rent payable after giving effect to Section 4.02(d) of the Ground Leases, the Qualifying Debt Service and Administrative Expenses for such Fiscal Year (which shall be prorated among the Accounting Periods within any given Fiscal Year).

  • The initial amount of the annual loan is determined on the basis of the participant’s Qualifying Income, Qualifying Debt Service on Qualifying Debt, as hereinafter defined, and other information as reported on the annual application.

  • Payments on delinquent loans and debt service on loans in deferment or forbearance status are not eligible for consideration in calculating Qualifying Debt Service.

  • LRAP benefits are calculated on the basis of Qualifying Debt Service as described in section D.4., Qualifying Income as described in section D.5., and the Participant Contribution as described in sectionD.6. The monthly LRAP benefit will be equal to the monthly Qualifying Debt Service less the monthly Participant Contribution.

  • Fourth, Owner shall retain any remaining Operating Profit in amounts sufficient to pay any remaining Other Qualifying Debt Service for such Fiscal Year (which shall be prorated among the Accounting Periods within any given Fiscal Year).

  • Participants are eligible for LRAP benefits for 100% of Qualifying Debt Service (see section C.4. above) if their Qualifying Incomes are less than or equal to the Base Qualifying Income for their class.

  • Participant Contribution under the Alternate Benefit Calculation Participants are eligible for LRAP benefits for 100% of Qualifying Debt Service (see section D.4. above) if their Qualifying Income is less than or equal to the Base Qualifying Income for their class.

  • Notwithstanding anything contained in this Agreement to the contrary and at all times and in all circumstances during the term of the Loan, the Manager hereby acknowledges and agrees that the payment to Manager of any Incentive Management Fees and Building Estimates (as defined in the Management Agreement) shall be subordinate to the payment to the Lender of the Qualifying Debt Service.

  • Manager hereby agrees that any money to be ------------------ paid by Borrower to Manager pursuant to the terms of Section 7.03 of the Management Agreement shall only be paid to Manager after Owner's payment of the monthly Qualifying Debt Service (including all monthly escrow deposits required under the Loan Agreement).

  • First, Lessee shall retain any Operating Profit until Lessee has received (to the extent of Operating Profit in that Fiscal Year) the Qualifying Debt Service (which shall be prorated among the Accounting Periods within any given Fiscal Year).


More Definitions of Qualifying Debt Service

Qualifying Debt Service have the meanings given them in the Management Agreement.
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Qualifying Debt Service means, without duplication, for each Fiscal Year: -----------------------
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Qualifying Debt Service is amended by inserting the following at the end thereof: Upon the Termination of this Agreement with respect to a given Inn or Inns (whether in connection with a Sale of the Inn or Inns, or pursuant to other applicable provisions of this Agreement), Qualifying Debt Service shall be reduced by interest and principal on any (or any portion of any) Additional Inn Investment Loans attributable to such Inn or Inns.
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Related to Qualifying Debt Service

  • Qualifying Debt means amount due, which includes interest or any other sum due in respect of the amounts owed under any contract, by the debtor for a liquidated sum either immediately or at certain future time and does not include—

  • 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.

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

  • Qualifying Notes means, at any time, any securities (other than the Notes) issued directly or indirectly by the Issuer:

  • 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.

  • Excess Cash Flow Payment Date means the date occurring 90 days after the last day of a fiscal year of the Parent (commencing with its fiscal year ending December 31, 2000).

  • 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.

  • 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.

  • Scheduled Funded Debt Payments means, as of any date of determination for the Borrower and its Subsidiaries, the sum of all scheduled payments of principal on Funded Debt for the applicable period ending on the date of determination (including payments due on Capital Leases and mortgaged real properties (including any Mortgaged Properties) during the applicable period ending on the date of determination).

  • 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.

  • 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 Reduction Mortgage Loan Any Mortgage Loan that became the subject of a Debt Service Reduction.

  • Excess Cash Flow Payment Period means, with respect to the repayment required on each Excess Cash Flow Payment Date, the immediately preceding fiscal year of the Borrower.

  • 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.

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

  • Noteholders' Monthly Principal Distributable Amount means, with respect to any Distribution Date, the Noteholders' Percentage of the Principal Distributable Amount.

  • Qualifying Loans has the meaning specified in Section 2.05(d)(iv).

  • Consolidated Scheduled Funded Debt Payments means for any period for the Borrower and its Subsidiaries on a consolidated basis, the sum of all scheduled payments of principal on Consolidated Funded Indebtedness, as determined in accordance with GAAP. For purposes of this definition, “scheduled payments of principal” (a) shall be determined without giving effect to any reduction of such scheduled payments resulting from the application of any voluntary or mandatory prepayments made during the applicable period, (b) shall be deemed to include the Attributable Indebtedness in respect of Capital Leases, Securitization Transactions and Synthetic Leases and (c) shall not include any voluntary prepayments or mandatory prepayments required pursuant to Section 2.05.

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

  • Consolidated Income Available for Debt Service for any period means Earnings from Operations of the Company and its Subsidiaries plus amounts which have been deducted, and minus amounts which have been added, for the following (without duplication): (i) interest on Debt of the Company and its Subsidiaries, (ii) provision for taxes of the Company and its Subsidiaries based on income, (iii) amortization of debt discount and deferred financing costs, (iv) provisions for gains and losses on properties and property depreciation and amortization, (v) the effect of any noncash charge resulting from a change in accounting principles in determining Earnings from Operations for such period and (vi) amortization of deferred charges.

  • 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.

  • Note Monthly Principal Distributable Amount means, with respect to any Payment Date, the Note Percentage of the Principal Distributable Amount for such Payment Date.

  • Monthly Excess Cashflow For any Distribution Date, an amount equal to the sum of the Monthly Excess Interest and Overcollateralization Release Amount, if any, for such date.

  • Debt Service Fund means the fund so designated in, and created pursuant to, Section 502 hereof.

  • Net Monthly Excess Cashflow With respect to each Distribution Date, the sum of (a) any Overcollateralization Release Amount for such Distribution Date and (b) the excess of (x) Available Funds for such Distribution Date over (y) the sum for such Distribution Date of (A) the Monthly Interest Distributable Amounts for the Class A Certificates and the Mezzanine Certificates, (B) the Unpaid Interest Shortfall Amounts for the Class A Certificates and (C) the Principal Remittance Amount.

  • Debt Service Reserve Fund Requirement means, with respect to the 2013 Series C Bonds and as of each determination date, an amount equal to maximum annual debt service on the 2013 Series C Bonds Outstanding from time to time and, with respect to any other Series of Bonds, the amount set forth in the Related Series Indenture.