MTN GLOBAL FUNDING AGREEMENTFunding Agreement • September 27th, 2006 • Principal Life Income Fundings Trust 21 • Accident & health insurance
This Agreement is executed by Principal Life at its Corporate Center to take effect as of the 16th day of June, 2006, which is referred to as the Effective Date, subject to the receipt by Principal Life or its designee of the Net Deposit (as set forth in Section 1).
GUARANTEEGuarantee • September 27th, 2006 • Principal Life Income Fundings Trust 21 • Accident & health insurance • New York
FOR VALUE RECEIVED, the sufficiency of which is hereby acknowledged, and in connection with that certain funding agreement (the “Funding Agreement”), entered into by and between Principal Life Insurance Company, an Iowa insurance company (“Principal Life”), and Principal Life Income Fundings Trust 21, a New York common law trust (the “Trust”), relating to the notes (the “Notes”) issued by the Trust, Principal Financial Group, Inc., a Delaware corporation and the indirect parent company of Principal Life (the “Guarantor”), hereby furnishes to the Trust its full and unconditional guarantee of the Guaranteed Amounts (as hereinafter defined) as follows:
