Debt Service Requirement Definition: 156 Samples | Law Insider (2024)

Debt Service Requirement

means, as of any date of calculation with respect to the Bonds, the sum of (i) all interest due or to become due on such date on all Outstanding Bonds plus (ii) all Principal Installments due or to become due on such date on all Outstanding Bonds or, if no Principal Installment is due and payable on such date on any Outstanding Bonds, one- half of the Principal Installments, if any, due and payable on all Outstanding Bonds on the next succeeding Interest Payment Date.

Debt Service Requirement

means, for any period of calculation, (i) all interest payable on all Bonds Outstanding during such period, plus (ii) the Principal Installment or Installments payable on such Bonds during such period, less (iii) amounts available to pay Principal Installments and interest becoming due in such Fiscal Year on Bonds Outstanding as of the first day of such Fiscal Year, including but not limited to (A) amounts on deposit in the Debt Service Assistance Account or Debt Service Assistance certified by an Authorized Officer of the City as reasonably expected to be received and deposited to the Debt Service Assistance Account on or before the last day of the Fiscal Year during which the applicable Debt Service Requirement calculation is to be made if such Debt Service Assistance has been appropriated by the applicable governmental entity, if any, or is payable pursuant to an agreement constituting a valid general obligation of the grantor, (B) amounts on deposit in the Stabilization Account and

Debt Service Requirement

means the Annual Requirement component required to be paid by the WCID to GBRA during an Annual Payment Period and which relates to Debt Service Costs.

Debt Service Requirement

means the total principal and interest coming due, whether at maturity or upon mandatory redemption (less any amount of interest that is capitalized and payable with the proceeds of debt on deposit with the Authority or the Trustee), in any specified period, provided:

Debt Service Requirement.

The dollar amount of principal and/or interest due to the Bondholders on the next scheduled Payment Date.

Debt Service Requirement

means for any Bond Year, the aggregate of

Debt Service Requirement.

Except as otherwise provided in the related Series Supplement, with respect to a particular Payment Date for a Series, the Available Funds.

Debt Service Requirement

for any period shall mean, as of any date of calculation and with respect to any Series, an unpaid amount equal to the sum of (i) interest accruing during such period on Bonds of such Series, except to the extent that such interest is to be paid from deposits into the Interest Account in the Sinking Fund made from the proceeds of Bonds (including amounts, if any, transferred thereto from the Construction Fund) and (ii) that portion of each Principal Installment for such Series coming due on the next respective Principal Installment due date within each applicable Fiscal Year (including for this purpose the first day of the following Fiscal Year and excluding the first day of the current Fiscal Year) that would accrue during such period if such Principal Installment were deemed to accrue daily in equal amounts from the next preceding Principal Installment due date to the next succeeding Principal Installment due date. If there shall be no such preceding Principal Installment due date, then principal shall be deemed to accrue daily from a date one year preceding the next succeeding due date of such Principal Installment, or from the date of issuance of the Bonds of such Series, whichever date is later. The calculation of the Debt Service Requirement hereunder shall be subject to the following rules:

Debt Service Requirement

means, as of any date of calculation with respect to the Bonds, the sum of (i) all interest due or to become due on such date on all Outstanding Series A Bonds and Series B Bonds plus (ii) all Principal Installments due or to become due on such date on all Outstanding Series A Bonds and Series B Bonds or, if no Principal Installment is due and payable on such date on any Outstanding Series A Bonds and Series B Bonds, one-half of the Principal Installments, if any, due and payable on all Outstanding Series A Bonds and Series B Bonds on the next succeeding Interest Payment Date.

Debt Service Requirement

means the sum of (i) interest expense (whether paid or accrued and including interest attributable to Capital Leases), (ii) scheduled principal payments on borrowed money, and (iii) capitalized lease expenditures, all determined without duplication and in accordance with GAAP.