Total Senior Lender Debt Service Payments definition

Total Senior Lender Debt Service Payments means for each Fiscal Year during the Term hereof, (i) prior to the close and distribution of the VHDA Permanent Loan proceeds to the Borrower, Capital One Construction Loan payments that are then currently due and owing to Capital One; (ii) upon repayment of the Capital One Construction Loan, annual VHDA Permanent Loan payments that are then currently due and owing to VHDA; and (iii) any other annual debtservice 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 Total Senior Lender Debt Service Payments are consistent with the Annual Budget and the Annual Audited Financial Statements. To the extent that the Total Senior Lender Debt Service Payments exceed the amount budgeted in the Annual Budget, such excess Total Senior Lender Debt Service Payments shall not be included in the calculation of the Residual Receipts.
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Total Senior Lender Debt Service Payments means for each Budget Year during the Term hereof, (i) annual Senior Lender Loan payments that are then currently due and owing to the Senior Lender; and (ii) 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 Lender Loan Payments are consistent with the Annual Budget and the Annual Audited Financial Statements. To the extent that the Senior Lender Loan Payments exceed the amount budgeted in the Annual Budget, such excess Senior Lender Loan Payments shall not be included in the calculation of the Residual Receipts.
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Total Senior Lender Debt Service Payments means for each Fiscal Year during the Term hereof, (i) prior to the close and distribution of the VHDA Senior Lender Loan proceeds to the Borrower, VHDA Gap Loan payments that are then currently due and owing to VHDA; (ii) annual VHDA Senior Lender Loan payments that are then currently due and owing to VHDA; and
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Examples of Total Senior Lender Debt Service Payments in a sentence

  • To the extent that the Total Senior Lender Debt Service Payments exceed the amount budgeted in the Annual Budget, such excess Total Senior Lender Debt Service Payments shall not be included in the calculation of the Residual Receipts.

  • The County Loan Agreement defines “Residual Receipts” as “Total Gross Revenues minus the sum of the (a) Total Senior Lender Debt Service Payments, (b) Total Approved Operating Expenses, (c) Total Payments into Reserves, and (d) Total Property Management Fee Payment.”released shall not be included in “Total Gross Revenues,” as defined in the County Loan Agreement, for the year in which the M&T Ownership Interest is assigned and transferred to APAH from M&T Bank pursuant to the Assignment Agreement.

  • The proposed 12-month operating budget shall include with particularity the projected (I) Total Gross Revenues, (II) Total Senior Lender Debt Service Payments, (III) Total Approved Operating Expenses, (IV) Total Property Management Fee Payment, (V) annual General Partner Asset Management Fee, (VI) annual Limited Partner Asset Management Fee, (VII) payments by the Borrower into the Capital Replacement Reserve, and (VIII) Residual Receipts, on a month-by- month basis for the applicable Fiscal Year.

  • The proposed 12-month operating budget shall include with particularity the projected (aa) Total Gross Revenues, (bb) Total Senior Lender Debt Service Payments, (cc) Total Approved Operating Expenses, (dd) Property Management Fee Payment, (ee) payments by the Borrower into the Capital Replacement Reserve, (ff) APAH Services Fee payments, (gg) APAH VHTF Deferred Payment Subordinate Loan payments, (hh) VHDA Monitoring Fee payments, and (ii) Residual Receipts, for the applicable Fiscal Year.

  • Total Gross Revenues, (II) Total Senior Lender Debt Service Payments, (III) Total Approved Operating Expenses, (IV) Total Payments Into Reserves, (V) Total Property Management Fee Payment, and (VI) Residual Receipts, on a month-by-month basis for the applicable Budget Year.


More Definitions of Total Senior Lender Debt Service Payments

Total Senior Lender Debt Service Payments means for each Budget Year during the Term hereof, (i) prior to the close and distribution of the Senior Lender Loan proceeds to the Borrower, VHDA Gap Loan payments that are then currently due and owing to VHDA; (ii) annual Senior Lender 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 Total Senior Lender Debt Service Payments are consistent with the Annual Budget and the Annual Audited Financial Statements. To the extent that the Total Senior Lender Debt Service Payments exceed the amount budgeted in the Annual Budget, such excess Total Senior Lender Debt Service Payments shall not be included in the calculation of the Residual Receipts.
Sample 1
Total Senior Lender Debt Service Payments means for each Fiscal Year during the Term hereof, (i) prior to the close and distribution of the Permanent Loan proceeds to the Borrower, Construction Loan payments that are then currently due and owing to Xxxxx Fargo; (ii) annual Permanent Loan payments that are then currently due and owing to Xxxxx Fargo; 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 CDBG Loan, to the extent that all such Total Senior Lender Debt Service Payments are consistent with the Annual Budget and the Annual Audited Financial Statements. To the extent that the Total Senior Lender Debt Service Payments exceed the amount budgeted in the Annual Budget, such excess Total Senior Lender Debt Service Payments shall not be included in the calculation of the Residual Receipts.
Sample 1

Related to Total Senior Lender Debt Service Payments

  • 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.

  • 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.

  • 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.

  • 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.

  • 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 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.

  • Debt Service Charges means for any Measurement Period, the sum of (a) Consolidated Interest Charges required to be paid for such Measurement Period, plus (b) regularly scheduled principal payments required to be made on account of Indebtedness (excluding the Obligations and any Synthetic Lease Obligations and Capital Lease Obligations) for such Measurement Period, in each case determined on a Consolidated basis in accordance with GAAP.

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

  • Debt Service Reserve Account shall have the meaning given to it in the Depository Agreement.

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

  • 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 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 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.

  • Consolidated Debt Service means, for any relevant period, the sum (without double counting), determined in accordance with GAAP, of:

  • Class D Interest Coverage Ratio means, as of any Measurement Date occurring on and after the Determination Date immediately preceding the second Payment Date, the ratio (expressed as a percentage) obtained by dividing the Interest Coverage Amount by the scheduled interest payments due on the Class A Notes, the Class B Notes, the Class C Notes and the Class D Notes on the following Payment Date. For the purposes of calculating the Class D Interest Coverage Ratio, the expected interest income on Collateral Obligations, Eligible Investments and the Accounts (to the extent applicable) and the expected interest payable on the Class A Notes, the Class B Notes, the Class C Notes and the Class D Notes will be calculated using the then current interest rates applicable thereto as at the relevant Measurement Date.

  • 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.

  • First Lien Net Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated First Lien Net Indebtedness as of the last day of such Test Period to (b) Consolidated EBITDA for such Test 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.

  • Principal Debt means, for a Lender and at any time, the unpaid principal balance of all outstanding Borrowings from such Lender hereunder.

  • Total Secured Indebtedness means, as of any date of determination, that portion of Total Indebtedness which is secured by a Lien on a Property, any ownership interests in any Subsidiary or Unconsolidated Affiliate or any other assets which had, in each case, in the aggregate, a value in excess of the amount of the applicable Indebtedness at the time such Indebtedness was incurred. Such Indebtedness that is secured only with a pledge of ownership interests and is also recourse to the Borrower or any Guarantor shall not be treated as Total Secured Indebtedness.

  • 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 the principal component of payments due on Capital Leases during the applicable period ending on the date of determination).

  • Secured Indebtedness Leverage Ratio means, with respect to any Person at any date, the ratio of (i) Secured Indebtedness of such Person and its Restricted Subsidiaries as of such date (determined on a consolidated basis in accordance with GAAP) to (ii) EBITDA of such Person for the four full fiscal quarters for which internal financial statements are available immediately preceding such date. In the event that the Company or any of the Restricted Subsidiaries Incurs or redeems any Indebtedness subsequent to the commencement of the period for which the Secured Indebtedness Leverage Ratio is being calculated but prior to the event for which the calculation of the Secured Indebtedness Leverage Ratio is made (the “Secured Leverage Calculation Date”), then the Secured Indebtedness Leverage Ratio shall be calculated giving pro forma effect to such Incurrence or redemption of Indebtedness as if the same had occurred at the beginning of the applicable four-quarter period; provided that the Company may elect, pursuant to an Officer’s Certificate delivered to the Trustee, that all or any portion of the commitment under any Secured Indebtedness as being Incurred at the time such commitment is entered into and any subsequent Incurrence of Indebtedness under such commitment shall not be deemed, for purposes of this calculation, to be the creation or Incurrence of a Lien at such subsequent time. For purposes of making the computation referred to above, Investments, acquisitions (including the Acquisition), dispositions, mergers, amalgamations, consolidations and discontinued operations (as determined in accordance with GAAP), in each case with respect to an operating unit of a business, and any operational changes that the Company or any of the Restricted Subsidiaries has either determined to make or made after the Issue Date and during the four-quarter reference period or subsequent to such reference period and on or prior to or simultaneously with the Secured Leverage Calculation Date (each, for purposes of this definition, a “pro forma event”) shall be calculated on a pro forma basis assuming that all such Investments, acquisitions (including the Acquisition), dispositions, mergers, amalgamations, consolidations, discontinued operations and other operational changes (and the change in EBITDA resulting therefrom) had occurred on the first day of the four-quarter reference period. If since the beginning of such period any Person that subsequently became a Restricted Subsidiary or was merged with or into the Company or any Restricted Subsidiary since the beginning of such period shall have made any Investment, acquisition, disposition, merger, consolidation, discontinued operation or operational change, in each case with respect to an operating unit of a business, that would have required adjustment pursuant to this definition, then the Secured Indebtedness Leverage Ratio shall be calculated giving pro forma effect thereto for such period as if such Investment, acquisition, disposition, discontinued operation, merger, consolidation or operational change had occurred at the beginning of the applicable four-quarter period. For purposes of this definition, whenever pro forma effect is to be given to any pro forma event, the pro forma calculations shall be made in good faith by a responsible financial or accounting officer of the Company. Any such pro forma calculation may include adjustments appropriate, in the reasonable good faith determination of the Company as set forth in an Officer’s Certificate, to reflect (1) net operating expense reductions and other net operating improvements or synergies reasonably expected to result from the applicable pro forma event (including, to the extent applicable, from the Transactions), and (2) all adjustments of the nature used in connection with the calculation of “Adjusted EBITDA” as set forth in footnote 5 to the “Summary historical and pro forma combined financial data” under “Summary” in the Offering Memorandum to the extent such adjustments, without duplication, continue to be applicable to such four-quarter period.