Common use of Non-Payment of Principal Clause in Contracts

Non-Payment of Principal. Any default by either Borrower in the payment of the principal of any Loan or L/C Obligation when due, whether at maturity, upon acceleration of maturity or at any date fixed for payment;

Non-Payment of Principal. Any default by either The Borrower defaults in the payment of the principal of any Loan or L/C Obligation Extended Loan, when duethe same becomes due and payable, whether at maturitythe due date thereof, upon acceleration of maturity or at any date fixed for payment;otherwise; or

Non-Payment of Principal. Any default by either a Borrower in the payment of the principal of any Loan or L/C Obligation when duedue and in the currency required hereunder, whether at maturity, upon acceleration of maturity or at any date fixed for payment;