Available Principal Commitment definition
Available Principal Commitment means, and in no event shall it exceed, $100,000,000, such initial amount adjusted from time to time as follows:
Available Principal Commitment initially means $__________ and thereafter means such initial amount adjusted from time to time as follows: (a) immediately downward by the amount of any termination or reduction of the Available Principal Commitment pursuant to Section 2.03 or Section 2.05; (b) immediately downward by the principal amount of any Variable Rate Bonds purchased by the Corporation pursuant to Section 2.02; and (c) immediately upward by the principal amount of any Variable Rate Bonds theretofore purchased by the Corporation pursuant to Section 2.02, which are delivered for sale pursuant to Section 2.04(b) and the proceeds from which are paid to GE Capital in accordance with the GE Capital Agreement.
Available Principal Commitment initially means $ and thereafter means such initial amount adjusted from time to time as follows: (a) downward by the amount of any termination or reduction of the Available Principal Commitment pursuant to Section 2.03 or Section 2.05; (b) downward by the principal amount of any Bonds purchased by the Corporation pursuant to Section 2.02; and (c) upward by the principal amount of any Bonds theretofore purchased by the Corporation pursuant to Section 2.02, which are delivered for sale by the Corporation pursuant to Section 2.04(b).
Examples of Available Principal Commitment in a sentence
The aggregate principal amount of the Variable Rate Bonds purchased by the Corporation on any Purchase Date shall not exceed the Available Principal Commitment on such date and the aggregate amount of the Purchase Price comprising interest on Variable Rate Bonds purchased by the Corporation on any Purchase Date shall not exceed the lesser of (1) the Available Interest Commitment and (2) the actual amount of interest accrued and unpaid on such Variable Rate Bonds to but excluding such date.
The aggregate Principal Component of all Advances made on any date shall not exceed the Available Principal Commitment on such date.
The Principal Component of the Purchase Price so to be paid for Series 2016 Bonds on the First Initial Bonds Remarketing Date shall not exceed the lesser of (i) 100% of the principal amount of such Series 2016 Bonds and (ii) the Available Principal Commitment (calculated, in each case, without giving effect to any purchase of Series 2016 Bonds by a Purchaser on such date) at 11:00 a.m. (New York time) on such First Initial Bonds Remarketing Date.
Upon any repurchase of Series 2016 Bonds with proceeds of a Remarketing, a redemption of Series 2016 Bonds or a defeasance of Series 2016 Bonds to a date on or prior to the Initial Bonds Remarketing Date, the aggregate Available Principal Commitment shall be reduced, upon receipt by a Purchaser of Written notice of such occurrence from the Trustee, by the principal amount of the Series 2016 Bonds so repurchased, redeemed or defeased, as specified in such Written notice.
The aggregate Principal Component of all Revolving Loans made on any date shall not exceed the Available Principal Commitment on such date.
More Definitions of Available Principal Commitment
Available Principal Commitment means, and in no event shall it exceed,
Available Principal Commitment means initially the aggregate principal amount of the Bonds Outstanding of $24,605,000 and, thereafter, means such initial amount adjusted from time to time as follows: (a) downward by the amount of any mandatory reduction of the Available Principal Commitment pursuant to the Liquidity Facility; (b) downward by the principal amount of any Bonds purchased by the Bank pursuant to the Liquidity Facility; and (c) upward by the principal amount of any Bonds theretofore purchased by the Bank pursuant to the Liquidity Facility which are remarketed (or deemed to be remarketed) pursuant to the Liquidity Facility by the Remarketing Agent and for which the Bank Owner has received immediately available funds equal to the principal amount thereof and accrued interest thereon; provided, however, that the sum of (i) the Available Principal Commitment plus (ii) the aggregate principal amount of Bank Bonds shall never exceed $24,605,000. Any adjustment to the Available Principal Commitment pursuant to clause (b) or (c) above shall occur simultaneously with the occurrence of the events described in such clauses and any adjustments to the Available Principal Commitment pursuant to clause (a) above and the Liquidity Facility shall occur at the time provided thereafter in the Liquidity Facility for the occurrence resulting in said reduction..
Available Principal Commitment bears to the Available Principal Commitment prior to such increase; provided that after giving effect to such adjustment the Available Interest Commitment shall never exceed Nine Hundred Eighteen Thousand Dollars ($918,000). Any adjustments pursuant to clauses (a) and (b) above shall occur simultaneously with the event requiring such adjustment.
Available Principal Commitment means, initially, the aggregate principal amount of the Remarketed Bonds Outstanding and, thereafter, means such initial amount adjusted from time to time as follows: (a) downward by the amount of any mandatory reduction of the Available
Available Principal Commitment initially means One Hundred Million Five Hundred Seventy-Five Thousand Dollars ($100,575,000). and thereafter means such amount adjusted from time to time as follows: (a) downward by the amount of any reduction of the Available Principal Commitment pursuant to Section 2.03; (b) downward by the principal amount of any Bonds purchased by the Bank pursuant to Section 2.02; and (c) upward by the principal amount of any Bonds theretofore purchased by the Bank pursuant to Section 2.02, which are resold by a Purchased Bondholder pursuant to Section 2.04(b) and for which the Bank or such Purchased Bondholder or the Trustee on behalf of the Bank or such Purchased Bondholder has received immediately available funds equal to the principal amount thereof and accrued interest thereon, or which cease to bear interest at the Purchased Bond Rate pursuant to Section 2.04(c); provided that, after giving effect to such adjustment, the Available Principal Commitment shall never exceed One Hundred Million Five Hundred Seventy-Five Thousand Dollars ($100,575,000). Any adjustments pursuant to clause (a), (b) or (c) above shall occur simultaneously with the event requiring such adjustment.
Available Principal Commitment initially means One Hundred Seventy Four Million Two Hundred Thousand Dollars ($174,200,000), constituting the principal face amount of the Bonds, and thereafter means such amount adjusted from time to time as follows: (a) downward by the amount of any reduction of the Available Principal Commitment pursuant to Section 2.03 hereof; (b) downward by the principal amount of any Bonds purchased by the Bank pursuant to Section 2.02 hereof; and (c) upward by the principal amount of any Bonds theretofore purchased by the Bank pursuant to Section 2.02 hereof, which are resold by a Purchased Bondholder pursuant to Section 2.04(b) hereof, or which cease to bear interest at the Purchased Bond Rate pursuant to Section 2.04(d) hereof; provided that after giving effect to such adjustment the Available Principal Commitment shall never exceed One Hundred Seventy Four Million Two Hundred Thousand Dollars ($174,200,000). Any adjustments pursuant to clauses (a), (b) and (c) above shall occur simultaneously with the event requiring such adjustment.
Available Principal Commitment means, initially, the aggregate principal amount of the 2001 Series A Bonds Outstanding, $40,760,000.00, and the aggregate principal amount of the 2001 Series B Bonds Outstanding, $49,810,000.00, and, thereafter, means such initial amount adjusted from time to time as follows: (a) downward by the amount of any mandatory reduction of the Available Principal Commitment pursuant to the FHLB Liquidity Facility (other than with respect to clause (c) of this definition); (b) downward by the principal amount of the applicable Remarketed Bonds for the purchase of which funds are made available by the FHLB to purchase such Remarketed Bonds pursuant to the FHLB Liquidity Facility; (c) downward by the principal amount of the applicable Remarketed Bonds of which the interest rate borne by such Remarketed Bonds has been converted or changed to a mode other than a Covered Mode or has been changed to a mode or rate not required by the applicable 2001 Series A and B Supplemental Indentures, to be supported by a Liquidity Facility or for which an Alternate Liquidity Facility (as defined in the 2001 Series A/B/C/D Supplemental Indenture), Auction Mode Period (as defined in the 2001 Series A/B/C/D Supplemental Indenture), or Self Liquidity (as defined in the 2001 Series A/B/C/D Supplemental Indenture) has become effective; and (d) upward by the principal amount of any Remarketed Bonds theretofore purchased by the FHLB pursuant to the FHLB Liquidity Facility which are remarketed by the Remarketing Agent and for which the FHLB