Senior Debt Service Payments definition

Senior Debt Service Payments means for each Budget Year during the Term hereof, the annual VHDA Senior Debt payments that are then currently due and owing to VHDA, the annual CONA Interim Construction Debt payments that are then currently due and owing to CONA, and any other debt payments due and owing which have been pre-approved by the County Board and is senior to the Consolidated CDBG/AHIF Loan, to the extent that all such Senior Debt Service Payments are consistent with the Borrower’s Annual Budget and the Borrower’s annual independent audit performed by a certified public accountant using generally accepted accounting principles. To the extent that the Senior Debt Service Payments exceed the amount budgeted in the Annual Budget, such excess Senior Debt Service Payments shall not be included to calculate the Residual Receipts.
Sample 1Sample 2Sample 3
Senior Debt Service Payments means for each Budget Year during the Term hereof, the annual VHDA Senior Loan payments that are then currently due and owing to VHDA, and any other annual debt payments due and owing which have been pre-approved by the County Board and is senior to the AHIF Loan, to the extent that all such Senior Debt Service Payments are consistent with the Annual Budget and the Annual Audited Financial Statements. To the extent that the Senior Debt Service Payments exceed the amount budgeted in the Annual Budget, such excess Senior Debt Service Payments shall not be included in the calculation of the Residual Receipts.
Sample 1Sample 2
Senior Debt Service Payments means for each Budget Year during the Term hereof, the annual Xxxxxx and Dunlop Senior Debt payments that are then currently due and owing to Xxxxxx and Dunlop and any other debt payments due and owing which have been pre-approved by the County Board and is senior in lien priority to the AHIF Loan, to the extent that all such Senior Debt Service Payments are consistent with the Annual Budget and the Annual Audited Financial Statements. To the extent that the Senior Debt Service Payments exceed the amount budgeted in the Annual Budget, such excess Senior Debt Service Payments shall not be included in the calculation of the Residual Receipts.
Sample 1

Examples of Senior Debt Service Payments in a sentence

  • The proposed operating budget shall show with particularity all projected (A) Gross Revenues, (B) Approved Operating Expenses, (C) Senior Debt Service Payments, (D) the VHDA Monitoring Fee, (E) Investor Member Asset Management Fee payment, (F) WHDC Asset Management Fee payment, (G) the WHDC Property Management Fee payment, (H) payments to or withdrawals from Replacement Reserve, and (I) Residual Receipts, on a month-by-month basis for the applicable Budget Year.

  • The proposed operating budget shall include with particularity the projected (I) Gross Revenues, (II) Approved Operating Expenses, (III) Senior Debt Service Payments, (IV) the Property Management Fee payments, (V) payments into or withdrawals from the Replacement Reserve, and (VI) Residual Receipts, on a month-by-month basis for the applicable Budget Year.

  • The proposed operating budget shall show with particularity all projected (i) Gross Revenue, (ii) Approved Operating Expenses, (iii) Senior Debt Service Payments, (iv) Investor Member Fee payments, (v) Property Management Fee payment, (vi) payment to or withdrawals from Replacement Reserve, and (vii) Residual Receipts, on a month-by-month basis for the applicable Budget Year.


More Definitions of Senior Debt Service Payments

Senior Debt Service Payments means for each Budget Year during the Term hereof, (i) prior to the close and distribution of the VHDA Senior Loan proceeds to the Borrower, Capital One Construction Loan payments that are then currently due and owing to Capital One; (ii) annual VHDA Senior Loan payments that are then currently due and owing to VHDA; and (iii) any other annual debt service payments due and owing which have been pre-approved by the County Board and is senior to the AHIF Loan, to the extent that all such Senior Debt Service Payments are consistent with the Annual Budget and the Annual Audited Financial Statements. To the extent that the Senior Debt Service Payments exceed the amount budgeted in the Annual Budget, such excess Senior Debt Service Payments shall not be included in the calculation of the Residual Receipts.
Sample 1
Senior Debt Service Payments means for each Budget Year during the Term hereof, the annual VHDA Permanent Senior Loan payments that are then currently due and owing to VHDA, and any other annual debt service payments due and owing which have been pre-approved by the
Sample 1
Senior Debt Service Payments means for each Budget Year during the Term hereof, the annual VHDA Permanent Senior Loan payments that are then currently due and owing to VHDA, and any other annual debt service payments due and owing which have been pre-approved by the County Board and is senior to the County Loans, to the extent that all such Senior Debt Service Payments are consistent with the Annual Budget and the Annual Audited Financial Statements. To the extent that the Senior Debt Service Payments exceed the amount budgeted in the Annual Budget due to late fees, default interest charges or costs, collection fees incurred by VHDA, or such other fees, costs and expenses added to the VHDA Permanent Senior Loan payments by VHDA due to some action or inaction by the Borrower, such excess Senior Debt Service Payments shall not be included in the calculation of the Residual Receipts.
Sample 1

Related to Senior Debt Service Payments

  • 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.

  • 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.

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

  • Debt Service Charges means for any Measurement Period, the sum of (a) Consolidated Interest Charges paid or required to be paid for such Measurement Period, plus (b) principal payments made or required to be made on account of Indebtedness (excluding the Obligations and any Synthetic Lease Obligations but including, without limitation, Capital Lease Obligations) for such Measurement Period, in each case determined on a Consolidated basis in accordance with GAAP.

  • 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 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.

  • Debt Service Reserve means the reserve for payment of principal and interest on the Bonds, created and established by Sections 502 and 506 of the General Trust Indenture.

  • 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.

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

  • Cash Flow Available for Debt Service for any period, means (i) Cash Flow received during such period minus (ii) (A) all O&M Costs paid during such period and (B) if an Equity Cure has been made in any fiscal quarter during the period for which Cash Flow Available for Debt Service is calculated, the lesser of the aggregate amount of (x) such Equity Cure during such period and (y) the aggregate amount of cash distributions paid by the Company during such period.

  • Subordinated Incentive Fee means the fee payable to the Advisor under certain circumstances if the Shares are Listed, as calculated in Section 8.07.

  • Debt Service Reserve Account as defined in the Depositary Agreement.

  • Debt Payments means for any period, in each case, all cash actually expended by any Borrower to make: (a) interest payments on any Advances hereunder, plus (b) scheduled principal payments on the Equipment Loans plus (c) scheduled principal payments on the Term Loans plus (d) payments for all fees, commissions and charges set forth herein, plus (e) payments on Capitalized Lease Obligations, plus (f) payments with respect to any other Indebtedness for borrowed money.

  • Debt Service Reserve Fund means the fund by that name established pursuant to the Second Resolution.

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

  • Net Liquidation Proceeds After Debt Service means, with respect to any Liquidation Event, all amounts paid to or received by or on behalf of Borrower, Senior Mezzanine Borrower or Mortgage Borrower in connection with such Liquidation Event, including, without limitation, proceeds of any sale, refinancing or other disposition or liquidation, less (a) Lender’s, Senior Mezzanine Lender’s and/or Mortgage Lender’s reasonable costs incurred in connection with the recovery thereof, (b) amounts required or permitted to be deducted therefrom and amounts paid pursuant to the Mortgage Loan Documents and Senior Mezzanine Loan Documents to Mortgage Lender and/or Senior Mezzanine Lender (as applicable), (c) in the case of a foreclosure sale, disposition or Transfer of any Individual Property in connection with realization thereon following a Mortgage Loan Event of Default, such reasonable and customary costs and expenses of sale or other disposition (including attorneys’ fees and brokerage commissions), (d) in the case of a foreclosure sale, disposition or Transfer of any Senior Mezzanine Collateral in connection with realization thereon following a Senior Mezzanine Loan Default under any Senior Mezzanine Loan Documents, such reasonable and customary costs and expenses of sale or other disposition (including attorneys’ fees and brokerage commissions), (e) in the case of a foreclosure sale, such costs and expenses incurred by Mortgage Lender under the Mortgage Loan Documents as Mortgage Lender shall be entitled to receive reimbursement for under the terms of the Mortgage Loan Documents, (f) in the case of a foreclosure sale, such costs and expenses incurred by Senior Mezzanine Lender under the Senior Mezzanine Loan Documents as Senior Mezzanine Lender shall be entitled to receive reimbursement for under the terms of the Senior Mezzanine Loan Documents, (g) in the case of a refinancing of the Mortgage Loan and/ Senior Mezzanine Loan, such costs and expenses (including attorneys’ fees) of such refinancing as shall be reasonably approved by Lender, Mortgage Lender and/or Senior Mezzanine Lender, and (h) the amount of any prepayments required pursuant to the Mortgage Loan Documents, Senior Mezzanine Loan Documents and/or the Loan Documents, in connection with any such Liquidation Event.

  • Debt Service Account means the Debt Service Account for General Obligation Temporary Notes, Series 2017-1 (within the Bond and Interest Fund) created pursuant to Section 501 hereof.

  • Debt Service Ratio means for any period the Modified Cash NOI for all consolidated and unconsolidated properties of the Operating Partnership based on its share (determined on a proportional ownership basis based upon the Operating Partnership’s ownership (direct or indirect) in each of its Subsidiaries and Joint Ventures) divided by Debt Service.

  • Service payments means payments to the private entity of a qualifying project pursuant to a service contract.

  • 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.

  • Senior Debt to EBITDA Ratio means, for any Four Quarter Period, the ratio of Senior Debt as at the last day of the applicable Four Quarter Period to EBITDA in respect of such Four Quarter Period.

  • Maximum Annual Debt Service means the largest Annual Debt Service for any Bond Year after the calculation is made through the final maturity date of any Outstanding Bonds.

  • 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 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.

  • Incentive Payments means any and all federal or state governmental subsidies, payments, transfers or other benefits, whether now or hereafter established, received by the Borrower in any fiscal year aged less than 120 days.

  • Subordinated Loans means any loan incurred by the Issuer or any of its Subsidiaries, if such loan (i) according to its terms (or pursuant to a subordination agreement on terms and conditions satisfactory to the Trustee) is subordinated to the obligations of the Issuer under the Terms and Conditions; (ii) according to its terms have a final redemption date or, when applicable, early redemption dates or instalment dates which occur after the Final Redemption Date; and (iii) according to its terms yield only payment-in-kind interest.