Examples of Outstanding Principal Balance in a sentence
Notwithstanding the foregoing, if any event described in clause (ii) above shall occur, the entire Outstanding Principal Balance together with all interest accrued and unpaid thereon shall automatically become due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived by the Maker.
The Bond shall be redeemable at any time by the Maker upon five (5) days’ written notice to Payee at the Outstanding Principal Balance plus any accrued but unpaid interest up to but not including the date of redemption (the “Redemption Date”).
The Outstanding Principal Balance together with interest through the Redemption Date shall be credited to the Payee’s Account paid to Payee within five (5) Business Days following the Redemption Date, upon which all amounts due under this Bond shall be deemed paid in full.
Interest shall be: paid on a monthly basis; or compounded on a monthly basis and accrue on the Outstanding Principal Balance at the fixed interest rate of eight percent (8%) per annum for Bonds with a one year lock up period pursuant to Section 2(c)(ii); or ten percent (10%) per annum for Bonds with a three year lock up period pursuant to Section 2(c)(ii), calculated from the day following the date that the Payee’s subscription to purchase this Bond was accepted by the Maker.