Rate Covenant Requirement means an amount equal to at least (1) 125% of the Aggregate Debt Service excluding amounts payable on Repayment Obligations for the Fiscal Year,(2) 100% of the Repayment Obligations, if any, which will be due and payable during the forthcoming Borrower Fiscal Year and (3) 100% of the amounts, if any, then required by the 4 Further description to be provided.Indenture to be deposited into the Debt Service Reserve Account during the forthcoming Borrower Fiscal Year.
Rate Covenant Requirement has the meaning specified in Section 6.13.
Examples of Rate Covenant Requirement in a sentence
The Borrower fails to satisfy the Rate Covenant Requirement for two (2) consecutive Borrower Fiscal Years.
It is expressly understood and agreed that to the extent that any such activities have been conducted by Xxxxxx prior to the date hereof, the continued conduct of such activities (or the conduct of activities similar in nature and scope thereto) subsequent to the date hereof shall not thereafter be deemed to interfere with the performance of Xxxxxx'x responsibilities to the Company.
More Definitions of Rate Covenant Requirement
Rate Covenant Requirement means an amount at least equal to: the sum (a) 110% of the Aggregate Debt Service excluding amounts payable on Repayment Obligations for the forthcoming Fiscal Year, and
Rate Covenant Requirement means an amount equal to at least (1) 125% of the Aggregate Debt Service excluding amounts payable on Repayment Obligations for the Fiscal Year, (2) 100% of the Repayment Obligations, if any, which will be due and payable during the forthcoming Fiscal Year and (3) 100% of the amounts, if any, then required by the Indenture to be deposited into the Debt Service Reserve Account during the forthcoming Fiscal Year.
Rate Covenant Requirement means an amount of Net Revenues which is equal to the sum of: (a) 120% of the Debt Service Requirement for the forthcoming Fiscal Year plus (b) 100% of (i) the amounts, if any, required by the Resolution to be deposited by the Issuer into the Reserve Fund during the forthcoming Fiscal Year, (ii) debt service payable on, or reserve fund funding requirements for, any subordinate lien indebtedness, and (iii) any required payments in lieu of taxes to the Municipality or other governmental entities.
Rate Covenant Requirement means, for each Fiscal Year, an amount equal to at least the sum of (a) 125% of the Aggregate Debt Service, excluding amounts payable on Repayment Obligations for such Fiscal Year, (b) 100% of the Repayment Obligations, if any, due and payable during such Fiscal Year, and (c) 100% of the amounts, if any, required by the Resolution to be deposited into the Debt Service Reserve Account, the Subordinated Indebtedness Fund and the Extension and Repair Fund during such Fiscal Year.