Principal Obligation definition

Principal Obligation means the Dollar Equivalent amount of (a) the aggregate outstanding principal amount of the Loans (including Swingline Loans); plus (b) the Letter of Credit Liability.

Principal Obligation means, at any time of calculation, the aggregate unpaid principal amount of the Loan or the Local Governmental Obligations, as applicable, which shall equal the Initial Obligation Amount less all Payments and all Prepayments on account of the principal amount thereof then or theretofore made or provided for by or for the account of the Borrower and received by or for the account of the Trust;

Principal Obligation means, for any particular Fund Group, the sum of: (a) the aggregate outstanding principal amount of the Loans of such Fund Group; plus (b) the Letter of Credit Liability of such Fund Group.

Examples of Principal Obligation in a sentence

• The applicable Principal Obligation Amount shall be reduced as provided in this Rider.

• Administrative Agent will determine whether the conditions for reduction of the Principal Obligation Amount have been satisfied or not, in each instance reasonably promptly upon Guarantor’s written request and at Guarantor’s sole cost and expense, but not more often than once per calendar quarter.

• No such reduction of the Principal Obligation Amount shall be effective unless and until the First Reduction Conditions or Second Reduction Conditions, as applicable shall have been satisfied and Administrative Agent shall have given written confirmation of such reduction to Guarantor.

• For avoidance of doubt, the reduction of the Principal Obligation Amount as provided in this Rider shall not apply to the obligations of Guarantor under Sections 1(b) or 1(c) of this Guaranty.

• Date: Official Signature of notary Notary's printed or typed name, Notary Public RIDER TO GUARANTY AGREEMENT DATED _______________ __, 20___ CONDITIONS FOR REDUCTION OF GUARANTOR’S LIABILITY FOR PRINCIPAL UNDER THE LOAN UNDER SECTION 1(A) (GUARANTY OF PAYMENT) Notwithstanding the language of Section 1(a) of this Guaranty, Guarantor’s obligations under Section 1(a) of this Guaranty with respect to the repayment of principal of the Loan shall not at any time exceed the applicable Principal Obligation Amount.

More Definitions of Principal Obligation

Principal Obligation means the aggregate outstanding principal amount of the Loans.

Principal Obligation means a portion of the Principal Amount of the Loan as follows:

Principal Obligation means the sum of: (a) the aggregate outstanding principal amount of the Loans; plus (b) the Letter of Credit Liability.

Principal Obligation means, as of any date of determination, the aggregate outstanding amount of the Loans on such date, after giving effect to any Borrowings or prepayments being made on such date.

Principal Obligation means 25% of the outstanding principal balance as of the date of acceleration by the Bank.

Principal Obligation means, as of the date of any determination thereof, the aggregate unpaid principal balance of all Loans and Reimbursement Obligations made by any Bank up to the time in question.

Principal Obligation means the sum of: (a) the aggregate amount of the Outstanding Balance of all Loans; and (b) the aggregate amount of the Letter of Credit Liability.