Examples of Principal Proceeds in a sentence
After the Facility Termination Date, fundings of Delayed Drawdown Collateral Assets shall be made using, first, amounts on deposit in the Delayed Drawdown Reserve Account, then available Principal Proceeds on deposit in the Collection Account.
All Cash contributed to the Borrower shall be treated as Principal Proceeds, except to the extent that the Borrower (or the Investment Advisor on the Borrower’s behalf) specifies in the Contribution Notice that such Cash shall constitute Interest Proceeds and shall be deposited into a Collection Account in accordance with Section 8.02 as designated by the Borrower (or the Investment Advisor on the Borrower’s behalf).
During the Reinvestment Period, fundings of Delayed Drawdown Collateral Assets shall be made using, first, amounts on deposit in the Delayed Drawdown Reserve Account, then available Principal Proceeds on deposit in the Collection Account and finally, available Advances.
By the Determination Date relating to the first Payment Date following the Closing Date, all funds in the Expense Reserve Account (after deducting any expenses paid on such Determination Date) will be deposited in the Collection Account as Principal Proceeds and the Expense Reserve Account will be closed.
It shall instruct the Collateral Agent to apply all Interest Proceeds and Principal Proceeds solely in accordance with the Priority of Payments and the other provisions of this Agreement.