Common use of Non-Payment of Principal Clause in Contracts

Non-Payment of Principal. The Borrower defaults in the payment of the principal of any Extended Loan, when the same becomes due and payable, whether at the due date thereof, upon acceleration or otherwise; or

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

Non-Payment of Principal. The Any default by a Borrower defaults in the payment of the principal of any Extended Loan, Loan or L/C Obligation when the same becomes due and payablein the currency required hereunder, whether at the due date thereofmaturity, upon acceleration of maturity or otherwise; orat any date fixed for payment;