Debt Service Requirement Sample Clauses

The Debt Service Requirement clause defines the minimum amount of funds that must be set aside or available to cover scheduled payments of principal and interest on a loan. Typically, this clause specifies how the required amount is calculated, such as referencing a percentage of outstanding debt or a fixed sum, and may require the borrower to maintain a dedicated reserve account. Its core practical function is to ensure that the lender has assurance of timely debt repayment, thereby reducing the risk of default and providing financial stability throughout the loan term.
Debt Service Requirement. From and after June 17, 2006, and until the Loan is paid in full by Borrower, Borrower shall not allow the Net Operating Income of the Project any calendar quarter to be less than 1.25 times the principal and interest payments then due and payable by Borrower under the Note for the respective designated period in question. In the event that the Net Operating Income falls below such minimum debt service requirement, Borrower shall promptly within ten (10) days of its Knowledge of such non-compliance prepay a portion of the principal balance of the Note so that the debt service requirement is satisfied and maintained.
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Debt Service Requirement. GEM shall maintain a Debt Service Requirement of one month of current debt requirement excluding scheduled principal payments in excess of $100,000.00. Funds required to debt service all principal reductions in excess of $100,000 shall be maintained for a period of no less than fifteen calendar days from the due date of such payments.
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Debt Service Requirement. For the calculation of any Debt Service Coverage Ratio, and for the applicable Computation Period, the payments of principal (if any and whether actual or assumed, as provided in the applicable provision hereof) and accrued interest required to be paid.
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Debt Service Requirement. 8 Default..............................................................................8
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Debt Service Requirement. 8 Default . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
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Related to Debt Service Requirement

  • Service Requirement Except as otherwise provided in Section 6(e) of the Plan or Section 2 of this Agreement, this Option may be exercised only while you continue to provide Service to the Company or any Affiliate, and only if you have continuously provided such Service since the Grant Date of this Option.

  • Service Requirements Grantee shall:

  • Coverage Requirements (08/19) Contractor shall comply with the following insurance requirements:

  • Performance Requirements A. There is no guaranteed minimum amount of work which will be ordered under this Contract. B. The total Contract amount will not exceed $4,900,000. C. This is a Contract for work specified in individual Job Orders. Work ordered prior to but not completed by the expiration of the Contract period, and any additional work required as a result of unforeseen conditions encountered during construction up to six (6) months after the contract expiration date, will be completed with all provisions of this Contract still in force. Performance time for each Job Order issued under this Contract will be determined in accordance with the Contract. This performance time will be determined and agreed upon by both Parties for each individual Job Order. Contractor must self-perform 20% of the Work under this Contract for ‘A’ and ‘B’ licenses. Contractor must self-perform 75% of the Work under this Contract, unless otherwise approved by the County, for ‘C’ licenses. D. This is an indefinite-quantity Contract for the supplies or services specified and effective for the period stated. Work or performance shall be made only as authorized by Job Orders issued in accordance with the ordering procedures clause. The Contractor agrees to furnish to the County when and if ordered, the supplies or services specified in the Contract up to and including the quantity designated in the Job Orders issued as the maximum designated in the Contract.

  • Maintenance Requirements The Contractor shall ensure and procure that at all times during the Maintenance Period, the Project Highway conforms to the maintenance requirements set forth in Schedule-E (the “Maintenance Requirements”).