Payment of Security Principal Sample Clauses

The 'Payment of Security Principal' clause defines the obligation to repay the original amount of money (the principal) that was secured or invested under an agreement. Typically, this clause outlines when and how the principal must be paid back, such as upon maturity of a loan, at the end of a security's term, or upon the occurrence of a specified event. For example, in a bond agreement, it would specify the date and method by which the issuer must return the principal to the bondholder. The core function of this clause is to ensure that the party providing the funds is guaranteed repayment of the principal, thereby reducing uncertainty and clarifying the financial obligations of the parties involved.
Payment of Security Principal. (a) On the Transfer Date preceding each Distribution Date with respect to the Amortization Period, the Trustee, acting in accordance with instructions from the Servicer set forth in the Daily Report for such day, shall withdraw from the Principal Account and deposit into the Distribution Account with respect to the Early Amortization Period, or the Principal Funding Account with respect to the Accumulation Period, to the extent of funds available, an amount equal to the Class A Principal for such Distribution Date. On each Distribution Date with respect to the Early Amortization Period until the Class A Invested Amount is paid in full, or on the Expected Final Payment Date with respect to the Accumulation Period following any deposit to the Distribution Account pursuant to subsection 4.12(e) of the Agreement, the Paying Agent shall pay in accordance with Section 5.1 of the Agreement to the Class A Securityholders from the Distribution Account such amounts deposited with respect to Class A Principal into the Distribution Account on the related Transfer Date. (b) On the Transfer Date preceding the Class B Principal Payment Commencement Date and each Transfer Date thereafter, or, in the case of distributions of Class B Excess Amounts, on each Transfer Date during the Accumulation Period preceding a Distribution Date on which a distribution shall be made with respect to Class B Excess Amounts, the Trustee, acting in accordance with instructions from the Servicer set forth in the Daily Report for such day, shall withdraw from the Principal Account and deposit in the Distribution Account, to the extent of funds available, an amount equal to the Class B Principal for the related Distribution Date. On the Class B Principal Payment Commencement Date after the payment of any principal amounts to the Class A Securities on such day, and on each Distribution Date thereafter until the Class B Invested Amount is paid in full and on each Distribution Date during the Accumulation Period on which amounts are to be distributed with respect to Class B Excess Amounts, the Paying Agent shall pay in accordance with Section 5.1 of the Agreement to the Class B Securityholder from the Distribution Account such amounts deposited with respect to Class B Principal into the Distribution Account on the related Transfer Date; provided, however, that, if so designated in writing by the Transferor with respect to any such Transfer Date, any such payment of Class B Principal shall not be ma...
View SourceView Similar (20)
Payment of Security Principal. 44 SECTION 4.13. Series Charge-Offs.........................................45 SECTION 4.14. Redirected Principal Collections for the Series 1998-3 Securities...........................46
View SourceView Similar (2)
Payment of Security Principal. 69 SECTION 4.13 Series Charge-Offs. . . . . . . . . . . . . . . . . .70 SECTION 4.14 Redirected Principal Collections for the Series 1998-1 Securities . . . . . . . . . . . . . . . . . .71
View Source
Payment of Security Principal. (a) Class A Principal. On the Transfer Date preceding each Distribution Date with respect to the Amortization Period, the Trustee, acting in accordance with instructions from the Servicer set forth in the Daily Report for such day, shall withdraw from the Principal Account or, following the occurrence of a Defeasance, from the Defeasance Funding Account, and deposit into the Distribution Account, to the extent of funds available, an amount equal to the Class A Principal for such Distribution Date. On each Distribution Date with respect to the Amortization Period until the Class A Invested Amount is paid in full, the Paying Agent shall pay in accordance with Section 5.1 of the Agreement to the Class A Securityholders from the Distribution Account such amounts deposited with respect to Class A Principal into the Distribution Account on the related Transfer Date.
View Source
Payment of Security Principal. (a On the Transfer Date preceding each Distribution Date with respect to the Amortization Period, the Trustee, acting in accordance with instructions from the Servicer set forth in the Daily Report for such day, shall withdraw from the Principal Account and deposit into the Distribution Account with respect to the Early Amortization Period, or the Principal Funding Account with respect to the Accumulation Period, to the extent of funds available, an amount equal to the Class A Principal for such Distribution Date. On each Distribution Date with respect to the Early Amortization Period until the Class A Invested Amount is paid in full, or on the Expected Final Payment Date with respect to the Accumulation Period following any deposit to the Distribution Account pursuant to subsection 4.12(e) of the Agreement, the Paying Agent shall pay in accordance with Section 5.1 of the Agreement to the Class A Securityholders from the Distribution Account such amounts deposited with respect to Class A Principal into the Distribution Account on the related Transfer Date.
View Source

Related to Payment of Security Principal

  • Repayment of Securities Securities of any series subject to repayment in whole or in part at the option of the Holders thereof will, unless otherwise provided in the terms of such Securities, be repaid at a price equal to the principal amount thereof, together with interest (if any) thereon accrued to the Repayment Date specified in or pursuant to the terms of such Securities. The Company covenants that, with respect to such Securities, on or before the Repayment Date it will deposit with a Trustee or with a Paying Agent (or, if the Company is acting as its own Paying Agent, segregate and hold in trust as provided in Section 10.03) an amount of money in the Currency in which the Securities of such series are payable (except as otherwise specified pursuant to Section 3.01 for the Securities of such series and except, if applicable, as provided in Sections 3.12(b), 3.12(d) and 3.12(e)) sufficient to pay the principal (or, if so provided by the terms of the Securities of any series, a percentage of the principal) of and (except if the Repayment Date shall be an Interest Payment Date) accrued interest (if any) on, all the Securities or portions thereof, as the case may be, to be repaid on such date.

  • Payment of Securities 42 SECTION 4.02.

  • Repayment of Principal Except as otherwise provided herein, the Company will repay the outstanding principal amount of this Note within fourteen (14) Business Days of the Offering Funding Date (the “Maturity Date”). This Note does not bear interest. At the option of the Lender, funds available for repayment of the loan may be held in a Company account, interest free, after the Maturity Date. Such funds shall not be used or otherwise pledged until such time as the Company and Lender have entered into another note.

  • Payment of Secured Obligations Grantor will pay and perform or cause to be paid and performed the Secured Obligations according to the tenor thereof and all other sums now or hereafter secured hereby as the same shall become due.

  • Enforcement of Security On and at any time after the occurrence of an Event of Default the Security Agent may, and shall if so directed by the Majority Lenders, take any action which, as a result of the Event of Default or any notice served under Clause 25.20 (Acceleration), the Security Agent is entitled to take under any Finance Document or any applicable law or regulation.