Subordinate Lien Debt Service Fund definition

Subordinate Lien Debt Service Fund means the Series 2013 Subordinate Lien Debt Service Fund and any other fund established pursuant to a Supplemental Indenture in accordance with the provisions of Section 8.2(a)(1)(F) for the payment of Debt Service on Subordinate Lien Obligations.
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Subordinate Lien Debt Service Fund means the Subordinate Lien Debt Service Fund created in Section 4.01 hereof.
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Subordinate Lien Debt Service Fund means the Subordinate Lien Debt Service Fund established pursuant to Section 504(a) of, and as defined in, the Indenture.
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Examples of Subordinate Lien Debt Service Fund in a sentence

  • This Policy applies to all the financial assets of the Authority including: - Pledged Revenue Fund- Senior Lien Debt Service Fund- Senior Lien Reserve Fund- Subordinate Lien Debt Service Fund- Subordinate Lien Reserve Fund- Project Fund- Rebate Fund Other funds received by the Authority are included under this Policy unless specifically excluded by the Authority Board.

  • To provide security for the payment of the principal of and interest on the Commercial Paper Notes, the Bank Note and all other amounts due under this Agreement, as the same shall become due and payable, DART has granted a lien on and pledge of the money and investments deposited and held in the [Senior Subordinate Lien Debt Service Fund] pursuant to Section 5.5 of the Master Debt Resolution.

  • The City shall, at least five days prior to each May 1 or November 1, deposit into the DSP Subordinate Lien Debt Service Fund any additional DSP Pledged Revenues available in the DSP System Fund which may be necessary to pay in full the interest or interest and principal coming due on such May 1 or November 1.

  • Any amounts remaining in the Rebate Fund and not necessary for the payment of amounts to the United States of America in accordance with the Federal Tax Certificate shall be transferred, in accordance with instructions from an Authorized Officer, to the System Expansion and Acquisition Fund, to the Series I Note Proceeds Account, and/or to the Senior Subordinate Lien Debt Service Fund.

  • Notwithstanding the foregoing, if and to the extent so directed by an Authorized Department Representative, the interest accruing on and any profit realized from the investment of moneys in any fund or account, other than the Senior Lien Debt Service Fund or Subordinate Lien Debt Service Fund, shall be credited to the Rebate Fund.

  • Additionally, all DSP Net Revenues, if any, which are to be transferred from the DSP System Fund to pay the principal of and interest on District Commercial Paper Notes or DSP Commercial Paper Notes pursuant to the District Commercial Paper Resolution when due shall be deposited from the applicable DSP Subordinate Lien Debt Service Fund into the DSP Note Payment Fund and used to reimburse any bank described in this clause.

  • There shall be paid from the Subordinate Lien Interest Account and the Subordinate Lien Principal Account from time to time the interest on and the principal of and premium on the Subordinate Lien Obligations as the same shall become due, except to the extent such interest, principal or premium are payable from a fund or account other than the Subordinate Lien Debt Service Fund as provided in any Supplemental Indenture.

  • The Trustee shall, on any date designated for the payment of Debt Service on any Outstanding Senior Lien Obligations, withdraw from the Subordinate Lien Debt Service Fund and deposit to the Senior Lien Debt Service Fund the amount of any deficiency in the Senior Lien Debt Service Fund on such payment date and shall apply such amount to the payment of Debt Service on Outstanding Senior Lien Obligations on such payment date.

  • Money in the Subordinate Lien Debt Service Fund shall be held in trust by the Trustee.

  • Investment earnings on deposit in, or transferred to, a Subordinate Lien Debt Service Fund shall be credited against the required deposits.


More Definitions of Subordinate Lien Debt Service Fund

Subordinate Lien Debt Service Fund means the fund created and so designated by Section 4.3.
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Related to Subordinate Lien Debt Service Fund

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

  • Subordinate Obligations means, collectively, the Subordinate Notes and any Other Subordinate Obligations.

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

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

  • Subordinate Companion Loan A Companion Loan that, to the extent provided in the related Loan Documents and/or the related Co-Lender Agreement, is generally subordinate in right of payment to the related Split Mortgage Loan. The only Subordinate Companion Loans related to the Trust as of the Closing Date are evidenced by the Notes identified in the Loan Combination Table under the column heading “Subordinate Companion Loan(s),” each of which Notes evidences a separate Subordinate Companion Loan.

  • 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 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.

  • Subordinate Lender means the person or entity named as such in the first paragraph of this Agreement and any other person or entity who becomes the legal holder of the Subordinate Note after the date of this Agreement.

  • Subordinated Loan has the meaning set forth in Section 1.2(a) of the Agreement.

  • 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.

  • Subordinate Liquidation Amount For any Distribution Date and each Loan Group, the excess, if any, of the aggregate Liquidation Principal of Mortgage Loans related to that Loan Group which became Liquidated Mortgage Loans during the prior calendar month over the related Senior Liquidation Amount for that Distribution Date.

  • Subordinated Amount As of any Distribution Date, the excess, if any, of (a) the aggregate Stated Principal Balance of the Mortgage Loans for such Distribution Date over (b) the aggregate of the Class Certificate Balances of the LIBOR Certificates as of such Distribution Date (after giving effect to the payment of the Principal Remittance Amount on such Certificates on such Distribution Date).

  • Subordinate Debt means indebtedness secured hereby or by any Supplemental Indenture which is by its terms expressly subordinate and inferior hereto both in lien and right of payment.

  • Subordinated Lenders means the holders of Subordinated Debt.

  • Subordinate Loan Documents means the Subordinate Note, the Subordinate Mortgage, and all other documents at any time evidencing, securing, guaranteeing, or otherwise delivered in connection with the Subordinate Indebtedness.

  • 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.

  • Subordinate Notes means the B Notes and the C Notes, individually or collectively, as the context may require.

  • Senior Subordinate Certificates The Class B1, Class B2 and Class B3 Certificates.

  • Subordinated Lender means each Seller, in its capacity as subordinated lender pursuant to the relevant Subordinated Loan Agreement.

  • Subordinated Loan Documents means at any time the agreements and other documents then governing the Subordinated Indebtedness.

  • Junior Subordinate Certificates The Class B-4, Class B-5 and Class B-6 Certificates.

  • Subordination Level On any specified date, with respect to any Class of Class X-X Regular Interests, the percentage obtained by dividing the aggregate Class Principal Balance of such Class and the Classes of Class X-X Regular Interests which are subordinate in right of payment to such Class by the aggregate Class Principal Balance of the REMIC I Regular Interests and the Class R-1 Residual Interest as of such date prior to giving effect to distributions of principal and interest and allocations of Realized Losses on the Mortgage Loans on such date.

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

  • 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.

  • Subordinated Loan Agreement means the subordinated loan agreement dated on or about the Closing Date, as amended from time to time, and entered into by, amongst others, the Issuer, the Subordinated Lender and the Security Trustee, under which the Subordinated Lender will advance (or has advanced) the Subordinated Loan to the Issuer.

  • Senior Subordinated Indebtedness means the Securities and any other Indebtedness of the Company that specifically provides that such Indebtedness is to rank pari passu with the Securities in right of payment and is not subordinated by its terms in right of payment to any Indebtedness or other obligation of the Company which is not Senior Indebtedness.