Examples of Principal Outstanding Amount in a sentence
Unless previously redeemed, or purchased and cancelled, the Bonds will be redeemed at their Principal Outstanding Amount on the Maturity Date, subject as provided in Condition 6 (Payments).
If at any time while any of the Bonds is outstanding a Change of Control Event or a Breach of Covenants occurs, each Bondholder will have the option to require the Issuer to redeem all or part of its Bonds on the Optional Redemption Date at an amount equal to 100 per cent of its Principal Outstanding Amount, together with any interest accrued thereon to (but excluding) the Optional Redemption Date (the Put Option).
So long as any of the Bonds is outstanding, the Issuer shall procure that the annual consolidated financial statements of the Issuer (in IFRS standard) reflects as a cash reserve under the item “Trésorerie” an amount of cash in excess of a sum equivalent to two years of the Rate of Interests as defined under Condition 4 (Interest) calculated on the Principal Outstanding Amount (the First Financial Covenant).
For the avoidance of doubt, non-compliance with the Financial Information Covenant will not constitute an Event of Default but each Bondholder will have the option to require the Issuer to redeem, or, at the Issuer's option, to procure the purchase of, all or part of the Bonds held by such Bondholder(s) at its Principal Outstanding Amount together with (or, where purchased, together with an amount equal to) accrued interest to the date fixed for redemption.