Principal Reduction Date definition

Principal Reduction Date. Any Special Distribution Date or, in a month in which a Principal Distribution Date occurs, such Principal Distribution Date.

Principal Reduction Date. With respect to a particular Series, any Principal Payment Date.

Principal Reduction Date means the date the principal balance of a Single Family Shared-Loss Loan is reduced in accordance with and pursuant to the PRA Directives (e.g., the first, second and third anniversaries of the applicable trial period effective date and any date prior to the third anniversary if a Single Family Shared-Loss Loan is paid-in-full ).

Examples of Principal Reduction Date in a sentence

• Unless otherwise specified in the related Series Supplement, calculation of the amount of interest accrued on the Bonds of any Class of any Series during an Interest Accrual Period shall be made on the assumption that any payment of principal on the Bonds of such Class made on a Principal Reduction Date occurring during such Interest Accrual Period (other than on the first day thereof) was instead paid on the first day of such Interest Accrual Period.

• At the first Principal Reduction Date, the Deferred Principal Reduction Loss shall equal the difference between the net present value calculated in determining the Restructuring Loss and the net present value calculated after giving effect to the principal reduction (using the same discount rate and “Loan prepayment in full” date specified in the Restructuring Loss calculation).

• On each subsequent annual Principal Reduction Date, the Deferred Principal Reduction Loss shall equal the difference between the net present value calculated for the previous Deferred Principal Reduction Loss and the net present value calculated after giving effect to the principal reduction (using the same discount rate and “Loan prepayment in full” date specified in the Restructuring Loss calculation).

• The date of such calculation, which shall occur on the third day after the date on which the calculation of Actual Race for calendar 2005 is final as provided in Exhibit A hereto, is hereinafter referred to as the "Principal Reduction Date." The calculation of accrued interest hereon shall be correspondingly adjusted.

• The Borrower shall, on or before the Principal Reduction Date, make such principal payments as are needed to reduce the outstanding principal balance under this Note to an amount not exceeding Twenty Million and 00/100 Dollars ($20,000,000.00).

More Definitions of Principal Reduction Date

Principal Reduction Date means each Interest Payment Date and the Redemption Amount Payment Date.

Principal Reduction Date shall have the meaning ascribed thereto in Section 2.6(d)(iii) hereof.

Principal Reduction Date means each Thursday or, if a particular Thursday is not a Business Day, the first Business Day following such Thursday. The "related" Principal Reduction Date in respect of an Accrual Period shall be the first Principal Reduction Date after such Accrual Period.

Principal Reduction Date means each of December 29, 2000 and June 29, ------------------------ 2001, at which times the permitted Maximum Inventory Loan Amount is reduced in accordance with the Schedule attached to this Agreement.

Principal Reduction Date. Tier 1 Reduction Event," and "Tier 2 Reduction Event."

Principal Reduction Date the date on which the total amount of principal payments made by the Borrower in respect of the Term Loan equals $14,000,000 or more.

Principal Reduction Date. With respect to a particular Series or Class, any Principal Payment Date or Special Redemption Date.