The Principal Amount Clause Samples
The Principal Amount clause defines the total sum of money that is being loaned or invested under the agreement. This clause specifies the exact figure that forms the basis for calculating interest, repayments, or other financial obligations. For example, in a loan contract, the principal amount is the original sum borrowed before any interest or fees are added. Its core practical function is to establish a clear and unambiguous reference point for all monetary calculations and obligations, ensuring both parties understand the financial commitment involved.
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The Principal Amount. 2.1. Obligor acknowledges to be indebted to Payee an amount of US$ 290,596,542 (say: two hundred ninety million two hundred ninety six thousand and five hundred and forty two United States dollars) plus interest on the unpaid and outstanding principal balance from time to time from the date hereof, payable at the end of each Interest Period, until such time as such principal shall become due and payable, at a rate per annum equal to 10 %. Interest shall be calculated on the basis of a year of 360 days for the actual number of days elapsed.
The Principal Amount. Subject to the terms and conditions of this Agreement, the Lender shall extend the Borrower with a principal loan amount of US$1,000,000 (the "Principal Amount"), which shall be provided by the Borrower on the Effective Date. The Principal Amount shall be wired to the Borrower's bank account, in accordance with the bank account information prescribed in Exhibit A.
The Principal Amount