Debt Service Requirements Sample Clauses
The Debt Service Requirements clause defines the obligations of a borrower to make regular payments covering both principal and interest on a loan. Typically, this clause outlines the schedule, amounts, and methods by which these payments must be made, and may specify the consequences of missed or late payments. By clearly setting out these requirements, the clause ensures that both parties understand the borrower's payment responsibilities, thereby reducing the risk of default and providing predictability for both lender and borrower.
Debt Service Requirements. The term “Debt Service Requirements” shall mean principal and interest payments due and owing for the prior calendar quarter multiplied by four (4), based upon, (i) all debt of Guarantor payable to Lender and any other non-subordinated debt, excluding balloon payments, if any, due to Lender, and (ii) the then applicable interest rate(s) on such debt.
Debt Service Requirements. The term "Debt Service Requirements" shall mean a hypothetical aggregate annual amount of principal and interest obligations which would be borne on the Loan calculated using the following criteria:
Debt Service Requirements. For Calendar Periods occurring from and after Loan Extension (and in connection with the calculation of the Debt Coverage Ratio for purposes of determining whether Borrower qualifies for the Loan Extension), the term “Debt Service Requirements” shall mean all principal and interest payments with respect to the Loan which would be owing during such Calendar Period, based upon a hypothetical payment schedule calculated using the outstanding balance of the Note at Loan Extension, based upon a level‑payment mortgage amortization schedule of thirty (30) years and utilizing an interest rate which is the greater of: (i) two hundred (200) basis points over the ten (10) year Treasury Index, or (ii) seven percent (7.0%). As used herein, “Treasury Index” means the Treasury Constant Maturity Series yields reported, for the latest day for which such yields shall have been so reported as of the applicable business day, in Federal Reserve statistical Release H.15 (519) (or any comparable successor publication) for actively traded U.S. Treasury securities having a constant maturity equal to ten (10) years. Such implied yield shall be determined, if necessary, by (i) converting U.S. Treasury ▇▇▇▇ quotations to bond-equivalent yields in accordance with accepted financial practice and (ii) interpolating linearly between reported yields.
Debt Service Requirements. Incorporate existing and any anticipated new issues in the revenue requirement. » Financial Policies. Review existing financial policies for compliance with operating, capital and power reserve targets.
Debt Service Requirements. For Calendar Periods occurring from and after Loan Extension, the term "Debt Service Requirements" shall mean all principal and interest payments with respect to the Loan which would be owing during such Calendar Period, based upon a hypothetical payment schedule calculated using the outstanding balance of the Note at Loan Extension, utilizing an interest rate based upon a level-payment mortgage amortization schedule of twenty-five (25) years and is the greater of: (i) two hundred (200) basis points over the ten (10) year Treasury Index, or (ii) eight and 50/100 percent (8.50%).
Debt Service Requirements. Before January 31 in each of its fiscal years, the Project Implementing Entity shall, based on forecasts prepared by the Project Implementing Entity and satisfactory to the Association, review whether it will expect to meet the requirements set forth in the preceding subparagraph in respect of such year and the next following fiscal year and shall furnish to the Association the results of such review upon its completion.