Equal principal definition

Equal principal repayment method: a repayment method under which the principal is equally distributed to each month, and the borrower pays off the interest for the period commencing from the previous trading day to the current repayment date. The monthly repayment amount is not fixed, in which the principal payable is equal and the interest payable decreases month by month.
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Examples of Equal principal in a sentence

  • Equal principal payments on quarterly, semi-annual or ------------ annual basis; specific amount to be set prior to takedown upon determination of total loan disbursements.

  • Equal principal installments in an amount equal to 1/36 of the principal balance outstanding hereunder on November 13, 1999 shall be due and payable on the 13th day of each calendar month, commencing on December 13, 1999, until the Maturity Date (set forth above), when all amounts outstanding under this Note shall be due and payable in full.

  • The Company will make each payment under this Agreement not later than 1:00 p.m. (New York City time) on the day when due, in lawful money of the United States of America and in immediately available funds, to the Agent’s Account.

  • Equal principal payments of $892,857.15 plus interest are to commence on the first day of the quarter (based on a 4 quarter year) following 6 months after Substantial Completion and thereafter on a quarterly basis.