Common use of Principal Sum Clause in Contracts

Principal Sum. B▇▇▇▇▇▇▇ agrees that the funded amount of all Loans shall be reduced by the Original Issue Discount, which sum shall be retained by L▇▇▇▇▇. B▇▇▇▇▇▇▇ agrees that, notwithstanding such deduction of the Original Issue Discount, Borrower is and shall remain liable to pay (a) the full principal amount of all Loans, inclusive of the Original Issue Discount and without giving effect to such deduction, and (b) interest, which shall accrue as provided in Section 3.01 hereof on the outstanding principal amount of such Loans, inclusive of the Original Issue Discount and without giving effect to such deduction. All calculations of interest and fees in respect of the Loans shall be calculated on the basis of their full stated principal sum. For the avoidance of doubt, the Original Issue Discount is and shall be deemed to be a part of the aggregate outstanding principal sum due hereunder and under the Note.