Examples of Loan Principal Amount in a sentence
The Borrower has the obligation to repay the Loan Principal Amount plus any other Obligations due to the Lender, including but not limited to interest due on the Loan Principal Amount on the Maturity Date.
During the term of the Loan the minimum value of the Pledged Collateral must always be at least eighty percent (80%) of the Loan Principal Amount so as to provide the Lender adequate security for the Loan.
Failure by the Borrower to repay the Loan Principal Amount when due on or before the Maturity Date or within ten (10) calendar days thereafter shall be an Event of Default.
This Term Loan shall mature, and the Loan Principal Amount together with all accrued interest thereon shall be due and payable two (2) years subsequent to the occurrence of the Closing Date (the “Maturity Date” or “Maturity”).
If the FMV of the Pledged Collateral has fallen to less than 80% of the Loan Principal Amount, a “Valuation Event” as defined herein occurs and the opportunity to cure this breach of the Loan Covenant arises pursuant toSection 8.1(g).