Senior Facilities Reserve Amount definition

Senior Facilities Reserve Amount means as of any date on and after the Project Completion Date, an amount necessary to pay Facility Debt Obligations projected to be due and payable on the next two (2) (in the case of quarterly Payment Dates) or one (1) (in the case of semi-annual Payment Dates) Payment Dates (assuming that no Event of Default will occur during such period) taking into account, with respect to interest, the amount of interest that would accrue on the aggregate principal amount of Facility Debt Obligations outstanding for the covered six month period and only such interest amount after giving effect to any Permitted Hedging Instrument in respect of interest rates then in effect; provided that (a) the Facility Debt Obligations projected to be due and payable for purposes of this calculation shall not include (i) Working Capital Debt; (ii) any voluntary or mandatory prepayment; or (iii) Hedging Termination Amounts; and (b) for purposes of the calculation of the scheduled principal payments in respect of any Senior Debt, any final balloon payment in respect of such Senior Debt shall not be taken into account and instead only the equivalent of the principal payment on the immediately preceding Payment Date for payment of principal prior to such balloon payment shall be taken into account.
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Senior Facilities Reserve Amount means as of any date (a) on and after the Project Phase 1 Completion Date, an amount necessary to pay Facility Debt Obligations projected to be due and payable on the next two (in the case of quarterly Payment Dates) or one (in the case of semi-annual Payment Dates) Payment Dates (assuming that no Event of Default will occur during such period) taking into account, with respect to interest, the amount of interest that would accrue on the aggregate principal amount of the Initial Term Loan Amount (as defined in the Credit Facility Agreement) outstanding for the covered six month period and only such interest amount after giving effect to any Permitted Hedging Instrument in respect of interest rates then in effect and (b) on and after the Project Phase 2 Completion Date, an amount necessary to pay Facility Debt Obligations projected to be due and payable on the next two (in the case of quarterly Payment Dates) or one (in the case of semi-annual Payment Dates) Payment Dates (assuming that no Event of Default will occur during such period) taking into account, with respect to interest, the amount of interest that would accrue on the aggregate principal amount of the Facility Debt Obligations outstanding for the covered six month period and only such interest amount after giving effect to any Permitted Hedging Instrument in respect of interest rates then in effect; provided that (a) the Facility Debt Obligations projected to be due and payable for purposes of this calculation shall not include (i) Working Capital Debt; (ii) any voluntary or mandatory prepayment; or (iii) Hedging Termination Amounts; and (b) for purposes of the calculation of the scheduled principal payments in respect of any Senior Debt, any final balloon payment in respect of such Senior Debt shall not be taken into account and instead only the equivalent of the principal payment on the immediately preceding Payment Date for payment of principal prior to such balloon payment shall be taken into account.
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Senior Facilities Reserve Amount has the meaning given in Schedule A of the CSAA.
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Examples of Senior Facilities Reserve Amount in a sentence

  • The Senior Facilities Debt Service Reserve Account shall have been funded in an amount equal to the Senior Facilities Reserve Amount.

Related to Senior Facilities Reserve Amount

  • Business Day means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or any day on which banking institutions in the State of New York are authorized or required by law or other governmental action to close.

  • Day means calendar day.

  • Subsidiary means an entity in which more than 50 percent of the entity is owned—

  • Effective Date has the meaning set forth in the preamble.

  • Company has the meaning set forth in the Preamble.

  • Affiliate of any specified Person means any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition, “control” when used with respect to any specified Person means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing.

  • Services means those functional services ancillary to the supply of the goods, such as transportation and any other incidental services, such as installation, commissioning, provision of technical assistance, training, catering, gardening, security, maintenance and other such obligations of the supplier covered under the contract.

  • Board means the Board of Directors of the Company.

  • Confidential Information means any communication or record (whether oral, written, electronically stored or transmitted, or in any other form) provided to or made available to Contractor or that Contractor may create, receive, maintain, use, disclose or have access to on behalf of HHS that consists of or includes any or all of the following:

  • Contract means the written agreement entered into between the purchaser and the supplier, as recorded in the contract form signed by the parties, including all attachments and appendices thereto and all documents incorporated by reference therein.

  • Person means any natural person, corporation, limited liability company, trust, joint venture, association, company, partnership, Governmental Authority or other entity.