Common use of Reduction in Principal Clause in Contracts

Reduction in Principal. Any reduction in the principal amount of any Bond effected by any payment in respect of principal thereof shall be binding upon all Holders of such Bond and of any Bond issued upon the registration or transfer thereof or in lieu thereof, whether or not noted thereon.

Reduction in Principal. Any reduction in the principal ---------------------- amount of any Bond effected by any payment in respect of principal thereof shall be binding upon all Holders of such Bond and of any Bond issued upon the registration or transfer thereof or in lieu thereof, whether or not noted thereon.