Principal Account. (s) shall mean deposit accounts of the Fund carried on the books of BBH&Co. as principal in accordance with Section 7.
Principal Account. (a) The Securities and all cash, ----------------- other than amounts credited to the Income Account, received by the Trustee in respect of the Securities shall be credited to a separate account to be known as the "Principal Account".
Principal Account. With respect to each series of Notes, the Trustee shall, upon delivery to the original purchasers thereof and from the proceeds thereof, credit to the Principal Account the amount, if any, representing premium on such Notes paid as part of the purchase price thereof. The Trustee shall also deposit to the credit of Principal Account: (i) that portion of the proceeds from the sale of the Issuer's bonds, notes or other evidences of indebtedness, if any, to be used to pay principal of the Notes on a Principal Payment Date, (ii) all payments under any Credit Enhancement Facility to be used to pay principal of Notes, and (iii) all amounts required to be transferred thereto from the Funds and Accounts specified in this Section 4.7.2. Each deposit required by this Section 4.7.2 to pay the foregoing amounts shall be made by transfer from the following Funds, in the following order of priority (after transfers therefrom to the Interest Account required on the date of any such transfer): the Collection Fund, the Surplus Fund, the Reserve Fund and, as to Senior Notes and Other Senior Obligations only, the Acquisition Fund (other than that portion of the Balance thereof consisting of Financed Student Loans). The moneys in the Principal Account required for the payment of the principal of Notes at the Stated Maturity thereof or on a Sinking Fund Payment Date therefor (or for the reimbursement to any Credit Facility Provider for the payment of such principal) shall be applied by the Trustee to such payment when due without further authorization or direction. Subject to Section 3.2 hereof, Balances in the Principal Account may also be applied to the purchase of Notes at a purchase price (including any brokerage or other charges) not to exceed the Principal Amount thereof plus accrued interest, in accordance with the provisions of Section 3.7 hereof, or to the redemption of or distribution of principal with respect to Notes at a Prepayment Price not to exceed the Principal Amount thereof plus accrued interest, upon transfer to the Retirement Account, as determined by the Issuer at such time, provided the Trustee shall have first certified that no deficiency exists at such time in the Debt Service Fund. Any such purchase, redemption, or distribution of principal shall be limited to those Notes whose Stated Maturity or Sinking Fund Payment Date is the next succeeding Principal Payment Date. If any moneys credited to the Principal Account for the retirement of the Term Notes ...
Principal Account. (a) The Servicer shall establish and maintain, in the name of the Trustee, for the benefit of the Series 1997-2 Certificateholders, with a Qualified Institution a segregated trust account (the "Principal Account"), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Series 1997-2 Certificateholders. The Principal Account shall initially be established with the Trustee. The Trustee shall possess all right, title and interest in all funds held from time to time in the Principal Account and in all proceeds thereof. The Principal Account shall be under the sole dominion and control of the Trustee for the benefit of the Series 1997-2 Certificateholders. If, at any time, the institution holding the Principal Account ceases to be a Qualified Institution, the Trustee (or the Servicer on its behalf) shall within five (5) Business Days establish a new Principal Account meeting the conditions specified above with a Qualified Institution and shall transfer any cash and/or any investments to such new Principal Account. Pursuant to the authority granted to the Servicer in Section 3.1(b) of the Agreement, the Servicer shall have the power, revocable by the Trustee, to make withdrawals and payments or to instruct the Trustee to make withdrawals and payments from the Principal Account for the purposes of carrying out the Servicer's or the Trustee's duties hereunder.
Principal Account. The Securities in the Trust and all monies, including capital gains paid on the Fund Shares, other than amounts credited to the Income Account for the Trust, received by the Trustee in respect of the Securities in the Trust shall be credited to a separate account for the Trust to be known as the "Principal Account" for the Trust.
Principal Account. The Securities in the Trust and all cash, other than amounts credited to the Income Account, received by the Trustee in respect of the Securities in the Trust shall be credited to a separate account for the Trust to be known as the "Principal Account."
Principal Account. In making the payments, deposits and credits required by subsections (A), (B) and (C) of this Section 4.7.2, an amount deposited and credited or required to be deposited and credited to the Principal Account representing premium on Term Notes paid as part of the purchase price thereof and any other deposits and credits otherwise made or required to be made to the Principal Account shall, to the extent available for such purpose, be taken into consideration and allowed for. The Trustee shall also deposit to the credit of Principal Account: (i) that portion of the proceeds from the sale of Financed Student Loans as is specified in Section 4.2 hereof, (ii) that portion of the proceeds from the sale of the Corporation's bonds, notes or other evidences of indebtedness, if any, to be used to pay principal of the Class A Notes and the Class B Notes on a Principal Payment Date, (iii) all payments under any Credit Enhancement Facility or Demand Purchase Agreement to be used to pay principal of Class A Notes or Class B Notes or the purchase price of Class A Notes or Class B Notes to be purchased on a Purchase Date or Mandatory Tender Date, and (iv) all amounts required to be transferred thereto from the Funds and Accounts specified in subsection (D) of this Section 4.7.2.
Principal Account. The Trustee shall deposit to the Principal Account moneys transferred from the Revenue Fund as provided in Section 5.03 of this Indenture. Moneys in the Principal Account shall be used to pay principal of and sinking fund installments on the Bonds when due.
Principal Account. The Trustee, on each Principal Payment Date, shall withdraw and apply from moneys on deposit in the Principal Account, an amount equal to the principal becoming due on Bonds on such Principal Payment Date (other than a redemption date). Money in the Principal Account shall be used and withdrawn by the Trustee on each Principal Payment Date solely for the payment of the principal of outstanding Bonds.
Principal Account. On or before each Interest Payment Date, the Trustee shall deposit in the Principal Account an amount required to cause the aggregate amount on deposit in the Principal Account to equal the principal amount of the Bonds and any Additional Bonds maturing or required to be redeemed through mandatory sinking account redemption on such Interest Payment Date pursuant to Section 2.02 or Section 2.03 or pursuant to a Supplemental Indenture, as the case may be. All moneys in the Principal Account shall be used and withdrawn by the Trustee solely for the purpose of paying the principal of the Bonds and any Additional Bonds.
