Reserve Fund Requirement means (i) on any Payment Date other than a Payment Date described in clause (ii), an amount equal to 0.25% of the Aggregate Securitization Value of the 2023-2 Leases as of the Cutoff Date or (ii) on any Payment Date occurring on or after the date on which the Note Balance has been reduced to zero, zero.

Reserve Fund Requirement has the meaning set forth in the Indenture.

Reserve Fund Requirement. With respect to any Distribution Date, the greater of (i) the Targeted Overcollateralization Amount for such date minus the Overcollateralization Amount for such date and (ii) zero.

Examples of Reserve Fund Requirement in a sentence

Borrower shall first apply all Gross Income to Expenses of the Project, including all amounts then required to be paid under the Borrower Loan Documents and the Funding Loan Documents and the funding of all sums necessary to meet the Replacement Reserve Fund Requirement, before using or applying such Gross Income for any other purpose.
Pursuant to Section 5.02, the Trustee shall deposit monthly into the Replacement Reserve Fund from money paid to the Trustee pursuant to the Loan Agreement and Section 5.02 hereof an amount equal to one-twelfth of the Replacement Reserve Fund Requirement.
Notwithstanding the foregoing, if on any Monthly Calculation Date the Balance in the Reserve Fund exceeds the Reserve Fund Requirement, such excess shall, upon Issuer Order, be transferred to the Collection Fund.
Under a Replenishment Agreement, the Town is required to take such actions as necessary to assure that the amounts required to meet the Debt Service Reserve Fund Requirement will be available on the Bond Payment Date.
In calculating the Reserve Fund Requirement, all Notes to be defeased by a series of refunding Notes shall be deemed not Outstanding as of the date of calculation.

More Definitions of Reserve Fund Requirement

Reserve Fund Requirement means (i) on any Payment Date other than a Payment Date described in clause (ii), an amount equal to [____]% of the Aggregate Securitization Value of the 20[__]-[__] Leases as of the Cutoff Date or (ii) on any Payment Date occurring on or after the date on which the Note Balance has been reduced to zero, zero.

Reserve Fund Requirement means, at any time, an amount equal to the greatest amount established as such in any Supplemental Resolution, which may be expressed as a percentage of Outstanding Bonds, as a stated dollar amount, or in any other manner. In calculating the Reserve Fund Requirement, all Bonds to be redeemed or defeased by a series of Refunding Bonds shall be deemed not Outstanding as of the date of calculation.

Reserve Fund Requirement means as of any date of calculation, a sum equal to one- half of the maximum principal and interest requirements for any succeeding Bond Year on the Bonds. The Reserve Fund Requirement for any issue(s) of Additional Parity Bonds shall be defined in the ordinance(s) authorizing the issuance of such Additional Parity Bonds.

Reserve Fund Requirement means, as of any particular date of computation, the amount of money designated as the minimum capital reserve fund requirement as established by the resolution of the authority authorizing the issuance of or by the trust indenture securing any issue of bonds.

Reserve Fund Requirement means, as of any date of calculation, a sum equal to the lesser of (i) 10% of the original proceeds of the Bonds, the Outstanding Parity Bonds and the Additional Parity Bonds, calculated in accordance with applicable Internal Revenue Service regulations, (ii) the maximum principal and interest requirements for any succeeding Bond Year (beginning June 1) on the Bonds, the Outstanding Parity Bonds and the Additional Parity Bonds, or (iii) 125% of the average annual principal and interest requirements on the Bonds, the Outstanding Parity Bonds and the Additional Parity Bonds, subject in each case to the payment of the reasonable costs and expenses of collecting and administering the Tax; provided, however, that the Reserve Fund Requirement may be satisfied by cash or Reserve Fund Alternative Investment, or a combination of the foregoing.

Reserve Fund Requirement means, at any time, an amount equal to the greater of (1) two percent (2.00%) of the aggregate Principal Amount of Class A Notes and Class B Notes then Outstanding, and (2) $500,000; or, as determined upon the issuance of any Class A Notes or any Class B Notes, such lesser or greater amount as will not cause any Rating Agency to lower or withdraw any rating on any Unenhanced Outstanding Notes, as confirmed in writing to the Trustee by each Rating Agency or, if no Unenhanced Notes are then Outstanding, but Other Obligations are Outstanding, and the Reserve Fund Requirement is to be reduced, such lesser amount as is acceptable to the Other Beneficiaries holding such Other Obligations, as evidenced in writing to the Trustee by each such Other Beneficiary.