Available Principal Commitment initially means $__________ and thereafter means such initial amount adjusted from time to time as follows: (a) immediately downward by the amount of any termination or reduction of the Available Principal Commitment pursuant to Section 2.03 or Section 2.05; (b) immediately downward by the principal amount of any Variable Rate Bonds purchased by the Corporation pursuant to Section 2.02; and (c) immediately upward by the principal amount of any Variable Rate Bonds theretofore purchased by the Corporation pursuant to Section 2.02, which are delivered for sale pursuant to Section 2.04(b) and the proceeds from which are paid to GE Capital in accordance with the GE Capital Agreement.
Available Principal Commitment initially means $ _________________ and thereafter means such initial amount adjusted from time to time as follows: (a) downward by the amount of any termination or reduction of the Available Principal Commitment pursuant to Section 2.03 or Section 2.05; (b) downward by the principal amount of any Bonds purchased by the Corporation pursuant to Section 2.02; and (c) upward by the principal amount of any Bonds theretofore purchased by the Corporation pursuant to Section 2.02, which are delivered for sale by the Corporation pursuant to Section 2.04(b).
Available Principal Commitment means, and in no event shall it exceed, $400,000,000, such initial amount adjusted from time to time as follows: (a) downward in an amount equal to the Principal Component of any Loan plus the principal amount of each Direct Purchase Note purchased by the Bank from time to time pursuant to the JPMorgan Note Purchase Agreement;
Examples of Available Principal Commitment in a sentence
The aggregate Principal Component of all Advances made on any date shall not exceed the Available Principal Commitment on such date.
More Definitions of Available Principal Commitment
Available Principal Commitment means, and in no event shall it exceed,
Available Principal Commitment bears to the Available Principal Commitment prior to such increase; provided that after giving effect to such adjustment the Available Interest Commitment shall never exceed Two Million One Hundred Nineteen Thousand Thirty-Six Dollars ($2,119,036). Any adjustments pursuant to clauses (a) and (b) above shall occur simultaneously with the event requiring such adjustment.
Available Principal Commitment means, initially, the aggregate principal amount of the Remarketed Bonds Outstanding and, thereafter, means such initial amount adjusted from time to time as follows: (a) downward by the amount of any mandatory reduction of the AvailablePrincipal Commitment pursuant to the FHLB Liquidity Facility (other than with respect to clause (c) of this definition); (b) downward by the principal amount of the Remarketed Bonds for the purchase of which funds are made available by the FHLB to purchase such Remarketed Bonds pursuant to the FHLB Liquidity Facility; (c) downward by the principal amount of the Remarketed Bonds of which the interest rate borne by such Remarketed Bonds has been converted or changed to a mode other than a Covered Mode or has been changed to a mode or rate not required by the 2009 Series D Supplemental Indenture, to be supported by a Liquidity Facility or for which an Alternate Liquidity Facility, a Non-Conforming Liquidity Facility or Self Liquidity (as defined in the 2009 Series D Supplemental Indenture) has become effective; and (d) upward by the principal amount of any Remarketed Bonds theretofore purchased by the FHLB pursuant to the FHLB Liquidity Facility which are remarketed by the Remarketing Agent and for which the FHLB has received immediately available funds equal to the principal amount thereof and accrued interest thereon (or deemed to be remarketed pursuant to the FHLB Liquidity Facility); provided, however, that the sum of (i) the Available Principal Commitment plus (ii) the aggregate principal amount of Bank Bonds shall never exceed $80,870,000.00 for the Remarketed Bonds. Any adjustments to the Available Principal Commitment pursuant to clause (a), (b) or (d) hereof shall occur simultaneously with the occurrence of the events described in such clauses. Any adjustments to the Available Principal Commitment pursuant to clause (c) hereof shall occur at 5:00 p.m. New York City time on the Business Day immediately following the occurrence of the events described in such clause.
Available Principal Commitment initially means One Hundred Million Five Hundred Seventy-Five Thousand Dollars ($100,575,000). and thereafter means such amount adjusted from time to time as follows: (a) downward by the amount of any reduction of the Available Principal Commitment pursuant to Section 2.03; (b) downward by the principal amount of any Bonds purchased by the Bank pursuant to Section 2.02; and (c) upward by the principal amount of any Bonds theretofore purchased by the Bank pursuant to Section 2.02, which are resold by a Purchased Bondholder pursuant to Section 2.04(b) and for which the Bank or such Purchased Bondholder or the Trustee on behalf of the Bank or such Purchased Bondholder has received immediately available funds equal to the principal amount thereof and accrued interest thereon, or which cease to bear interest at the Purchased Bond Rate pursuant to Section 2.04(c); provided that, after giving effect to such adjustment, the Available Principal Commitment shall never exceed One Hundred Million Five Hundred Seventy-Five Thousand Dollars ($100,575,000). Any adjustments pursuant to clause (a), (b) or (c) above shall occur simultaneously with the event requiring such adjustment.
Available Principal Commitment means, initially, the aggregate principal amount of the 2009 Series F Bonds Outstanding, $34,120,000, and thereafter means each such initial amount adjusted from time to time as follows: (a) downward by the amount of any mandatory reduction of the Available Principal Commitment pursuant to the Initial Liquidity Facility (other than with respect to clause (c) of this definition); (b) downward by the principal amount of any 2009 Series F Bonds for the purchase of which funds are made available by the Bank to purchase 2009 Series F Bonds pursuant to the Initial Liquidity Facility; (c) downward by the principal amount of any 2009 Series F Bonds of which the interest rate borne by such 2009 Series F Bonds has been converted or changed to an Auction Period Rate (as defined in the 2009 Series F Resolution), the Fixed Interest Rate (as defined in the 2009 Series F Resolution) or an Indexed Rate (as defined in the 2009 Series F Resolution) or has been changed to a mode or rate not required by the 2009 Series F Resolution to be supported by a Liquidity Facility (as defined in the 2009 Series F Resolution) or for which an Alternate Liquidity Facility (as defined in the 2009 Series F Resolution), a Non-Conforming Liquidity Facility (as defined in the 2009 Series F Resolution), or Self Liquidity (as defined in the 2009 Series F Resolution) has become effective; and (d) upward by the principal amount of any 2009 Series F Bonds theretofore purchased by the Bank pursuant to the Initial Liquidity Facility which are remarketed by the Remarketing Agent and for which the Bank has received immediately available funds equal to the principal amount thereof and accrued interest thereon (or deemed to be remarketed pursuant to the Initial Liquidity Facility); provided, however, that the sum of (i) the Available Principal Commitment plus (ii) the aggregate principal amount of Bank Bonds shall never exceed $34,120,000 for the 2009 Series F Bonds. Any adjustments to the Available Principal Commitment pursuant to clause (a), (b) or (d) hereof shall occur simultaneously with the occurrence of the events described in such clauses. Any adjustments to the Available Principal Commitment pursuant to clause (c) hereof shall occur at 5:00 p.m. Des Moines, Iowa time on the Business Day immediately following the occurrence of the events described in such clause.
Available Principal Commitment initially means One Hundred Seventy Four Million Two Hundred Thousand Dollars ($174,200,000), constituting the principal face amount of the Bonds, and thereafter means such amount adjusted from time to time as follows: (a) downward by the amount of any reduction of the Available Principal Commitment pursuant to Section 2.03 hereof; (b) downward by the principal amount of any Bonds purchased by the Bank pursuant to Section 2.02 hereof; and (c) upward by the principal amount of any Bonds theretofore purchased by the Bank pursuant to Section 2.02 hereof, which are resold by a Purchased Bondholder pursuant to Section 2.04(b) hereof, or which cease to bear interest at the Purchased Bond Rate pursuant to Section 2.04(d) hereof; provided that after giving effect to such adjustment the Available Principal Commitment shall never exceed One Hundred Seventy Four Million Two Hundred Thousand Dollars ($174,200,000). Any adjustments pursuant to clauses (a), (b) and (c) above shall occur simultaneously with the event requiring such adjustment.
Available Principal Commitment initially means $100,000,000 and thereafter means said amount adjusted from time to time as follows: (a) downward by the amount of any reduction of the Available Principal Commitment pursuant to Bonds redeemed, paid or with respect to which provision for the payment thereof has been made pursuant to the Indenture; (b) downward by the principal amount of any Bonds purchased with moneys made available to the Tender Agent by AIG-LC pursuant to the Standby Agreement; (c) upward by the principal amount of any Bonds purchased with moneys made available to the Tender Agent by AIG-LC pursuant to the Standby Agreement which are sold by a Purchased Bondholder through the Remarketing Agent pursuant to or as contemplated by the Standby Agreement or which a Purchased Bondholder elects to retain pursuant to the Standby Agreement following notice of a successful remarketing thereof by the Remarketing Agent; and (d) downward at the times and to the extent provided in the Standby Agreement described under "STANDBY AGREEMENT -- Events of Default; Termination of Standby Agreement by AIG-LC". Any adjustments pursuant to clauses (a), (b), (c) and (d) above shall occur simultaneously with the event requiring such adjustments.