TIFIA Debt Service Reserve Required Balance definition

TIFIA Debt Service Reserve Required Balance means [__________].
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TIFIA Debt Service Reserve Required Balance means, as of any date, an amount equal to fifty percent (50%) of the principal and interest payments on the TIFIA Loan due and payable during the then-current Borrower Fiscal Year.
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TIFIA Debt Service Reserve Required Balance means, as of any date of determination, the greater of (a) the amount of TIFIA Mandatory Debt Service due and payable during the then-current Borrower Fiscal Year or (b) the largest amount of TIFIA Mandatory Debt Service payable in any of the succeeding four (4) Borrower Fiscal Years after the then-current Borrower Fiscal Year.
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Examples of TIFIA Debt Service Reserve Required Balance in a sentence

  • The Borrower shall maintain the Senior Debt Service Reserve Account in an amount equal to the Senior Debt Service Reserve Required Balance and the TIFIA Debt Service Reserve Account in an amount equal to the TIFIA Debt Service Reserve Required Balance, in each case in accordance with the provisions of this Agreement and the applicable Indenture Documents.

  • The Borrower shall maintain the Senior Bonds Debt Service Reserve Account in an amount equal to the Senior Bonds Debt Service Reserve Account Requirement, the TIFIA Loans Debt Service Reserve Account in an amount equal to the TIFIA Debt Service Reserve Required Balance, and the Junior Bonds Debt Service Reserve Account in an amount equal to the Junior Bonds Debt Service Reserve Account Requirement, in each case in accordance with the provisions of this Agreement and the applicable Indenture Documents.

  • Any amounts on deposit in the TIFIA Debt Service Reserve Sub-Account in excess of the TIFIA Debt Service Reserve Required Balance (including as a result of funding of the TIFIA Debt Service Reserve Sub- Account with an Acceptable Letter of Credit) shall, subject to Section 5.20(d), be deposited into the Revenue Account for application pursuant to Section 5.03.

  • The Borrower shall fail to fund the TIFIA Loans Debt Service Reserve Account on or before the Debt Service Payment Commencement Date, in an amount equal to the TIFIA Debt Service Reserve Required Balance applicable as of the Debt Service Payment Commencement Date.

  • The Borrower shall maintain the Senior Debt Service Reserve Account in an amount equal to the Senior Debt Service Reserve Required Balance and the TIFIA Debt Service Reserve Account in an amount equal to the TIFIA Debt Service Reserve Required Balance, in each case in accordance with the provisions of the Collateral Agency Agreement.


More Definitions of TIFIA Debt Service Reserve Required Balance

TIFIA Debt Service Reserve Required Balance means, as of any date prior to the Substantial Completion Date, the amount reflected for such date in Exhibit B under the column entitled “TIFIA Debt Service Reserve Required Balance,” provided that as of the earlier to occur of the Debt Service Payment Commencement Date and the Substantial Completion Date, the amount of the TIFIA Debt Service Reserve Required Balance shall be an amount equal to ten percent (10%) of the outstanding principal amount of the TIFIA Loan as of such date.
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TIFIA Debt Service Reserve Required Balance means, (a) on the Milestone 5 Payment Date, $[7,331,079.32]3, and (b) as of any date of determination thereafter, an amount equal to one hundred percent (100%) of TIFIA Debt Service that will become due and payable by the Borrower in the six (6) consecutive months following such date of determination.
Sample 1
TIFIA Debt Service Reserve Required Balance means (a) from the Effective Date through, but not including, [December 30, 2023], $[•], (b) from and including [December 30, 2023] through, but not including [June 29, 2024], $[•], and (c) from and including [June 29, 2024], the greater of (i) the amount of TIFIA Mandatory Debt Service due and payable during the then-current Borrower Fiscal Year or (ii) the largest amount of TIFIA Mandatory Debt Service payable in any of the succeeding four (4) Borrower Fiscal Years after the then-current Borrower Fiscal Year.
Sample 1
TIFIA Debt Service Reserve Required Balance means, (a) on the Milestone 5 Payment Date, $7,331,079.32, and (b) as of any date of determination thereafter, an amount at least equal to one hundred percent (100%) of the TIFIA Debt Service that will become due and payable by the Borrower in the six (6) consecutive months following such date of determination.
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TIFIA Debt Service Reserve Required Balance means an amount equal to the maximum annual TIFIA Debt Service in respect of any Borrower Fiscal Year during the term of the TIFIA Loan as set forth in Schedule IV and as described in Section 16(k)(ii).
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TIFIA Debt Service Reserve Required Balance means, as of any date prior to the Substantial Completion Date, the amount reflected in Exhibit B-1 under the column entitled “TIFIA Debt Service Reserve Required Balance” as of the most recent December 31st prior to such date (or, if less, ten percent (10%) of the Outstanding TIFIA Loan Balance as of such December 31st date); provided, that as of the earlier to occur of the Debt Service Payment Commencement Date and the Substantial Completion Date, the amount of the TIFIA Debt Service Reserve Required Balance shall at all times be an amount equal to ten percent (10%) of the Outstanding TIFIA Loan Balance as of any date of measurement.
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Related to TIFIA Debt Service Reserve Required Balance

  • Debt Service Reserve Requirement means, as of any date of calculation, and for any Fiscal Year, the amount equal to the maximum Adjusted Aggregate Debt Service on Bonds in the current or any future Fiscal Year on all Bonds Outstanding; provided, however, that if, upon the issuance of a Series of Bonds, such amount would require moneys, in an amount in excess of the maximum amount permitted under the Code to be deposited therein from the proceeds of such Bonds, to be deposited therein, the Debt Service Reserve Requirement shall mean an amount equal to the sum of the Debt Service Reserve Requirement immediately preceding issuance of such Bonds and the maximum amount permitted under the Code to be deposited therein from the proceeds of such Bonds, as certified by an Authorized Representative of the Authority; provided, further, that, if (i) the payment of the Principal Installments of or interest on any Series of Bonds or portion thereof is secured by a Special Credit Facility, (ii) the payment of the Tender Option Price of any Option Bond of a Series is secured by a Special Credit Facility or (iii) the Authority has determined in a Supplemental Resolution authorizing the issuance of a Series of Bonds that such Series of Bonds will not be secured by the Common Account in the Debt Service Reserve Fund, the Supplemental Resolution authorizing such Series may specify the Debt Service Reserve Requirement, if any, for the Bonds of such Series: provided, further, that if, as a result of the expiration or termination of a Financial Guaranty, a deficiency shall be created in the Debt Service Reserve Fund, the Debt Service Reserve Requirement shall be calculated so as to exclude the amount of such deficiency and the Debt Service Reserve Requirement shall be increased in each of the five Fiscal Years after the date such deficiency was created by an amount equal twenty per centum (20%) of the aforesaid deficiency.For the purpose of calculating the Debt Service Reserve Requirement for any Variable Rate Bonds of a Series, the maximum Adjusted Debt Service on such Series shall be determined by reference to the Pro Forma Bond Issue for the Variable Rate Bonds of such Series set forth in the Supplemental Resolution authorizing such Series.

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

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

  • Primary Reserve Requirement means the megawatts required to be maintained in a Reserve Zone or Reserve Sub-zone as Primary Reserve, absent any increase to account for additional reserves scheduled to address operational uncertainty. The Primary Reserve Requirement is calculated in accordance with the PJM Manuals.

  • Reserve Requirement means, with respect to an Interest Period, the maximum aggregate reserve requirement (including all basic, supplemental, marginal and other reserves) which is imposed under Regulation D on Eurocurrency liabilities.

  • 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.