Principal Debt Clause Samples
The Principal Debt clause defines the main amount of money that is owed by a borrower to a lender under a financial agreement, excluding any interest, fees, or other charges. This clause typically specifies the exact sum borrowed and may reference schedules or documents that detail the calculation or breakdown of this amount. By clearly identifying the principal debt, the clause ensures both parties understand the base financial obligation, which is essential for calculating repayments, interest, and for resolving any disputes regarding the amount owed.
Principal Debt. 3.1 Every purchase of goods and/or services obtained with the Card shall form part of the Principal Debt.
3.2 All amounts debited to the Card Account in terms of this Agreement together with interest thereon are repayable by You to Us in the manner set out in this Agreement.
Principal Debt. The Principal Debt is due and payable on the Termination Date.
Principal Debt. The debt under the Main Contract constitutes the principal debt of this contract, including the principal and interest (including interest, compound interest and default interest), default penalty, damage remedy, expenses for Creditor rights redemption (including but not limited to lawsuit fee, attorney’s fee, notary fee and execution fee etc.), Creditor’s losses caused by borrower default and all other payable expenses.
Principal Debt. As a separate and independent stipulation, the Guarantor agrees that all sums of money properly owing by the Guarantor to Company as a result of the Guarantor failing to comply with any obligations, specifications or other terms hereunder which may not be recoverable from the Guarantor, will nevertheless be recoverable from the Guarantor as sole or principal debtor in respect thereof and shall be paid or repaid on demand in writing made by Company.
Principal Debt. The principal debt guaranteed under this Agreement shall be the debts offered by Party B owing to the loan and other credits during the period between 16 October 2006 and 14 October 2009. The maximum principal balance of the above loan and other credits shall not excess RMB SIX MILLION AND FOUR HUNDRED THOUSAND YUAN. The effective evidence in respect of liability owned by the Debtor shall be referred to in the accounting evidence issued by Party B in accordance with the operational rules. In the event that any matters provided by law or agreed to by the Parties arise and lead to the earlier termination of the above-mentioned Credit Period, the claims below the above-mentioned maximum principal balance by this date shall fall within the scope of guaranty.
Principal Debt. The Principal Debt outstanding on the Revolving Termination Date is due and payable, at Borrower's option, on (i) the Revolving Termination Date or (ii) the date which is the two-year anniversary of the Revolving Termination Date. In the event Borrower elects to repay the Principal Debt pursuant to clause (ii) above, Borrower shall by written notice to Administrative Agent (a "NOTICE OF EXTENSION OF TERMINATION DATE") not less than 45 nor more than 60 days prior to the Revolving Termination Date, advise the Lenders that it shall repay the Principal Debt pursuant to clause (ii). The Administrative Agent will promptly, and in any event within five Business Days of the receipt of such Notice of Extension of Termination Date, notify the Lenders of the contents such Notice of Extension of Termination Date. Such Notice of Extension of Termination Date shall constitute a representation by Borrower that (A) neither any Default nor any Potential Default has occurred and is continuing and (B) the representations and warranties contained in SECTION 8 are correct on and as of the Notice of Extension of Termination Date, as though made on and as of such date (unless any representation and warranty expressly relates to an earlier date). In addition, Borrower shall provide a certificate on the Revolving Termination Date constituting a representation by Borrower that (A) neither any Default nor any Potential Default has occurred and is continuing and (B) the representations and warranties contained in SECTION 8 are correct on and as of the Revolving Termination Date, as though made on and as of such date (unless any representation and warranty expressly relates to an earlier date).
Principal Debt. The term "Principal Debt" shall mean the aggregate unpaid principal balance of the Note due to Secured Party at the time in question, whether matured, unmatured, due, not yet due, or in default.
Principal Debt. The principal debt (hereinafter referred to as the “Principal Debt”) secured by this Agreement is the debt owed by the Mortgagor to the Creditor due to the advance of the Loans by the Creditor to the Mortgagor under the Facility Agreement, including all principal of such Loans and interest accrued thereon and any other amount which shall be paid by the Mortgagor to the Creditor for the advance of the Loans under the Facility Agreement.
Principal Debt. Every purchase of goods and/or services obtained with the Card shall form part of the Principal Debt.
Principal Debt. Any other portions of the Obligation.