Examples of Outstanding Principal in a sentence
For the purpose of determining standby fees, the Agent and the relevant Operating Lender shall determine the Outstanding Principal assuming the exchange rate for each day of any month is the Exchange Rate for conversions of United States Dollars to Canadian Dollars established by the Bank of Canada for the first day of such month.
Subject to Section 2.18, the Outstanding Principal under a given Canadian Credit Facility shall not exceed the maximum principal amount of such Canadian Credit Facility.
In addition, the U.S. Borrower may make Drawdowns and Rollovers under the U.S. Credit Facilities of Letters of Credit denominated in United States Dollars; provided that the Outstanding Principal of Letters of Credit outstanding under the U.S. Syndicated Facility shall not exceed U.S.$50,000,000 at any time.
The issuance of Letters of Credit shall constitute Drawdowns or Rollovers (as applicable) hereunder and shall reduce the availability of the applicable Credit Facility by the aggregate Outstanding Principal of Letters of Credit under such Credit Facility.
In addition, the Canadian Borrower may make Drawdowns and Rollovers under the Canadian Credit Facilities of Letters of Credit denominated in Canadian Dollars or United States Dollars; provided that the Outstanding Principal of Letters of Credit outstanding under the Canadian Syndicated Facility shall not exceed U.S.$75,000,000 (or the Equivalent Amount thereof in Canadian Dollars) at any time.