TIFIA Mandatory Debt Service definition

TIFIA Mandatory Debt Service means (a) with respect to any Semi-Annual Payment Date occurring on or after the Debt Service Payment Commencement Date and prior to the Level Payment Commencement Date, the principal portion of the Outstanding TIFIA Loan Balance and any interest payable thereon (including interest accruing after the date of any filing by the Borrower of any petition in bankruptcy or the commencement of any bankruptcy, insolvency or similar proceeding with respect to the Borrower), in each case, (i) designated as “TIFIA Mandatory Debt Service” on Exhibit G and (ii) due and payable on such Semi-Annual Payment Date in accordance with the provisions of Section 9(c) (Payment of TIFIA Mandatory Debt Service), and which shall be unconditionally required to be paid on such Semi-Annual Payment Date, and (b) with respect to any Semi-Annual Payment Date occurring on or after the Level Payment Commencement Date, the entire amount of each Fixed Level Payment required to be paid pursuant to Section 9(e) (Fixed Level Payments).
Sample 1Sample 2
TIFIA Mandatory Debt Service means with respect to any Semi-Annual Payment Date occurring on or after the Debt Service Payment Commencement Date, the principal portion of the Outstanding TIFIA Loan Balance and any interest payable thereon, in each case, (a) designated as “TIFIA Mandatory Debt Service” on Exhibit G and (b) due and payable on such Semi-Annual Payment Date in accordance with the provisions of Section 9(b), and which shall be unconditionally required to be paid on such Semi-Annual Payment Date.
Sample 1Sample 2
TIFIA Mandatory Debt Service means with respect to any Semi-Annual Payment Date occurring on or after the Debt Service Payment Commencement Date, the principal portion of the Outstanding TIFIA Series 2014 Bonds and any interest payable thereon, in each case, (a) designated as “TIFIA Mandatory Debt Service” on Exhibit G to the TIFIA Loan Agreement and
Sample 1

Examples of TIFIA Mandatory Debt Service in a sentence

  • On each Semi-Annual Payment Date occurring on or after the Debt Service Payment Commencement Date and prior to the Level Payment Commencement Date, the Borrower shall pay TIFIA Mandatory Debt Service in the amounts set forth in respect of such Semi-Annual Payment Date on Exhibit G, as the same may be revised as provided in Section 7 (Outstanding TIFIA Loan Balance; Revisions to Exhibit G and Loan Amortization Schedule), which payments shall be made in accordance with Section 9(g) (Manner of Payment).

  • On each Semi-Annual Payment Date commencing on the Level Payment Commencement Date, the Borrower shall pay TIFIA Mandatory Debt Service in the amount of one hundred percent (100%) of the Fixed Level Payment, which payments shall be made in accordance with Section 9(e) (Fixed Level Payments) and Section 9(g) (Manner of Payment).

  • On each Semi-Annual Payment Date occurring on or after the Level Payment Commencement Date, the Borrower shall pay TIFIA Mandatory Debt Service in the amount of one hundred percent (100%) of the Fixed Level Payment, which payments shall be made in accordance with Section 9(e) (Fixed Level Payments) and Section 9(g) (Manner of Payment).

  • Notwithstanding anything to the contrary herein, upon the occurrence of a Bankruptcy Related Event with respect to the Borrower, all TIFIA Debt Service shall be treated as TIFIA Mandatory Debt Service for all purposes under the TIFIA Loan Documents and Indenture Documents.

  • Any such prepayment shall be applied first to payments of TIFIA Scheduled Debt Service and second to payments of TIFIA Mandatory Debt Service.

  • Interest on the TIFIA Loan reflected in the TIFIA Mandatory Debt Service schedule shall be paid from the TIFIA Series 2014 Interest Account and principal of the TIFIA Loan reflected in the TIFIA Mandatory Debt Service schedule shall be paid from the TIFIA Series 2014 Principal Account.

  • The Borrower may make any such payment or portion thereof (or direct the Trustee to make such payment) with funds then on deposit in the TIFIA Series 2014 Interest Account and the TIFIA Series 2014 Principal Account in connection with TIFIA Mandatory Debt Service and in the TIFIA Prepayment Account, Airports Authority Account or Set-Aside Account as set forth in Section 9(c)(iii) in connection with the payment of TIFIA Debt Service other than TIFIA Mandatory Debt Service.

  • On each Semi-Annual Payment Date occurring on or after the Debt Service Payment Commencement Date, the Borrower shall pay TIFIA Mandatory Debt Service in the amounts set forth in respect of such Semi-Annual Payment Date on Exhibit G hereto, which payments shall be made in accordance with Section 9(e).


More Definitions of TIFIA Mandatory Debt Service

TIFIA Mandatory Debt Service means with respect to any TIFIA PaymentDate occurring on or after the TIFIA Debt Service Payment Commencement Date, the portion of the principal of the Outstanding Obligation in the form of the TIFIA Loan then due and payable on such Payment Date and any interest then due and payable on such Obligation (including interest accruing after the date of any filing by the Authority of any petition in bankruptcy or the commencement of any bankruptcy, insolvency or similar proceeding with respect to the Authority) on such TIFIA Payment Date that is designated as TIFIA Mandatory Debt Service pursuant to the terms of the TIFIA Loan Agreement and is required to be paid on such TIFIA Payment Date.
Sample 1
TIFIA Mandatory Debt Service means the portion of a TIFIA Loan which is unconditionally required to be paid in accordance with, and pursuant to, the terms of such TIFIA Loan Agreement, as of the date of calculation of TIFIA Mandatory Debt Service (assuming, for purposes of projected debt service, that the full amount of such TIFIA Loan will be disbursed).
Sample 1
TIFIA Mandatory Debt Service means, with respect to any Semi-Annual Payment Date occurring on or after the Debt Service Payment Commencement Date, the portion of the principal of the Outstanding TIFIA Loan Balance and the interest payable on such Outstanding TIFIA Loan Balance, or portion thereof, (including interest accruing after the date of any filing by the Borrower of any petition in bankruptcy or the commencement of any bankruptcy, insolvency or similar proceeding with respect to the Borrower), in each case, (a) designated as “TIFIA Mandatory Debt Service” on Exhibit G (or that becomes payable as TIFIA Mandatory DebtService as a result of an election by the Borrower pursuant to Section 9(c) (Early Debt Service Payment Commencement Date)) and (b) due and payable on such Semi-Annual Payment Date in accordance with the provisions of Section 9(c) (Payment of TIFIA Mandatory Debt Service), and which shall be unconditionally required to be paid on such Semi-Annual Payment Date.
Sample 1
TIFIA Mandatory Debt Service has the meaning set out in the TIFIA Loan Agreement. “TIFIA Scheduled Debt Service” has the meaning set out in the TIFIA Loan Agreement. “Tolling Agreement” means (a) the Managed Lanes Tolling Services Agreement dated May 7, 2015 between the Transportation Enterprise and E-470 Public Highway Authority, as it may be amended or extended from time-to-time in accordance with its terms or (b) any subsequent tolling agreement entered into by the Transportation Enterprise pursuant to Section 4.20 of the Master Indenture.
Sample 1Sample 2

Related to TIFIA Mandatory Debt Service

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

  • 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.

  • 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.

  • Implied Debt Service means (a) a given principal balance of Unsecured Indebtedness and Secured Recourse Indebtedness multiplied by (b) the greatest of (i) 10% per annum, (ii) the highest per annum interest rate then applicable to any of the outstanding principal balance of the Loans and (iii) a mortgage debt constant for a loan calculated using a per annum interest rate equal to the yield on a 10 year United States Treasury Note at such time as determined by the Administrative Agent plus 3.50% and amortizing in full in a 25-year period.

  • 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.

  • 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 Coverage Ratio means a ratio for the applicable period in which:

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

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