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.

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.

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.

Examples of Total Senior Lender Debt Service Payments in a sentence

The proposed operating budget shall show with particularity all projected (i) Total Gross Revenue, (ii) Total Senior Lender Debt Service Payments, (iii) Total Senior Lender Fee Payments, (iv) Total Subordinate Lender Fee Payments, (v) Total Approved Operating Expenses, (vi) Total Property Management Fee Payments, (vii) payments by the Borrower into the Capital Replacement Reserve, and (viii) Residual Receipts, on a month-by-month basis for the applicable Budget Year.
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.

More Definitions of Total Senior Lender Debt Service Payments

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.

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

Debt Service means, with respect to any particular period of time, the scheduled principal and interest payments due under this Agreement and the Note.
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.
Debt Service Fund means the fund so designated in, and created pursuant to, Section 502 hereof.
First Lien Net Leverage Ratio means, with respect to any Test Period, the ratio of (i) Consolidated Total Indebtedness secured on a first lien basis, net of Unrestricted Cash, as of the last day of such Test Period, to (ii) Consolidated EBITDA for such Test Period.
Principal Debt means, at any time, the unpaid principal balance of all Borrowings.