Unpaid Principal Amount definition
Examples of Unpaid Principal Amount in a sentence
If an Event of Default (other than an Event of Default specified in clause (i) or (j) above with respect to GAMCO) occurs and is continuing, the Holder may declare (A) (i) the Unpaid Principal Amount of this Note minus (ii) the Teton Adjustment and (B) all accrued and unpaid interest hereon to be immediately due and payable.
Upon any Notes becoming due and payable under this SECTION 8.02, whether automatically or by declaration, such Notes will forthwith mature and the entire Unpaid Principal Amount of such Notes, plus all accrued and unpaid interest thereon and any premium or additional payment which would then be due (to the full extent permitted by Governing Law), shall all be immediately due and payable, in each and every case without presentment, demand, protest or further notice, all of which are hereby waived.
Except as otherwise expressly provided in Sections 1(c) and 6(b), interest shall accrue from the Closing Date at the Applicable Interest Rate on the Unpaid Principal Amount, or (if less) at the highest rate then permitted under applicable law.
If an Event of Default specified in clause (i) or (j) above occurs with respect to GAMCO, the Unpaid Principal Amount of the Note and all accrued and unpaid interest hereon shall automatically become and be immediately due and payable without any declaration or other act on the part of the Holder or any other Person.
The Holder shall have the right and option, but not the obligation, to cause Gabelli to purchase all or any portion of the Unpaid Principal Amount of this Note (the "Put Option") on August 14, 2002 (the "Exercise Date") for a purchase price in cash equal to 100% of the principal amount of the Note to be purchased plus accrued and unpaid interest thereon to but excluding the Exercise Date (the "Put Consideration").