Average Principal Amount definition

Average Principal Amount means, for any period, the amount equal to (x) the sum of the respective aggregate outstanding principal amounts of the applicable Indebtedness as of the end of each of the most recent thirteen fiscal months of the Company that have ended at or prior to the end of such period, divided by (y) 13.

Average Principal Amount for any period, the amount equal to (a) the sum of the respective aggregate outstanding principal amounts of the Indebtedness of the Parent Borrower and its Subsidiaries (other than Special Purpose Subsidiaries) as of the end of each of the most recent thirteen fiscal months of the Parent Borrower that have ended at or prior to the end of such period, divided by (b) 13.

Average Principal Amount means for any period the sum of the Principal Amounts on each day of such period divided by the number of days in such period.

Examples of Average Principal Amount in a sentence

• The project’s entire Guarantee Fee pay- ment shall be made by you to us in an amount equal to the sum of the present value of the separate products obtained by applying the pertinent pre or post delivery Guarantee Fee rate or rates to the projected amount of the Average Principal Amount of Obligations Out- standing for each year of the stated maturity of the Obligations.

• If the Guar- antee Fee relates to an undelivered Vessel, the predelivery rate is applica- ble to the Average Principal Amount of Obligations Outstanding for the period from the date of the Security Agree- ment to the delivery date, and the de- livered Vessel rate is applicable for the balance of the annual period in which the delivery occurs.

• Average Principal Amount has the meaning given in Condition 4.5. Board means the Board of Directors of the Society.

• The entitlement of CCDS holders to share in the Surplus shall be capped at the Average Principal Amount per CCDS.

• Accordingly, following payment to the holders of CCDS, by way of distribution of Surplus, of an amount equal to the Average Principal Amount in respect of each CCDS, the holders of the CCDS shall have no further entitlement to share in any remaining or further distribution of Surplus, and any such remaining or further Surplus shall be distributed amongst the persons and in the manner specified in Conditions 4.3(b), (c) and (d) only, or otherwise as provided in the Rules.

• The Nominal Amount and Premium Amount of each such CCDS shall be included in any calculation of the Core Capital Contribution Proportion and Average Principal Amount as if such Nominal Amount and Premium Amount had been paid to the Society in cash.

• This Condition 4.4 determines the amount of any Surplus the CCDS holders will be eligible to receive upon a winding-up of the Society (unless the amount calculated in accordance with this Condition 4.4 exceeds the Average Principal Amount per CCDS calculated in accordance with Condition 4.5, in which case CCDS holders will instead be eligible to receive the Average Principal Amount for each CCDS held).

• If theGuarantee Fee relates to an undelivered Vessel, the predelivery rate is applicable to the Average Principal Amount ofObligations Outstanding for the period from the date of the Security Agreement to the delivery date, and the delivered Vessel rate is applicable for the balance of the annual period in which thedelivery occurs.

More Definitions of Average Principal Amount

Average Principal Amount means an amount (expressed in pounds sterling) per CCDS calculated as follows and rounded to the nearest penny (with £0.005 being rounded up): Aggregate Nominal + Aggregate Premium Total CCDS Issued where: Aggregate Nominal is the aggregate of all Nominal Amounts (expressed in pounds sterling) paid at initial subscription of all CCDS issued at any time up to (and including) the time at which the Average Principal Amount is being calculated (whether or not the same remain Outstanding); Aggregate Premium is the aggregate of all Premium Amounts (expressed in pounds sterling) paid at initial subscription of all CCDS issued at any time up to (and including) the time at which the Average Principal Amount is being calculated (whether or not the same remain Outstanding); and Total CCDS Issued is the total number of CCDS issued at any time up to (and including) the time at which the Average Principal Amount is being calculated (whether or not the same remain Outstanding).

Average Principal Amount means, for any period, the amount equal to ( x) the sum of the respective aggregate outstanding principal amounts of the applicable Indebtedness as of the end of each of the most recent thirteen fiscal months of the Company that have ended at or prior to the end of such period, divided by ( y) 13.

Average Principal Amount means an amount equal to the quotient of: (a) the sum of the end of month outstanding Principal Amount balances (after deducting any Company Optional Prepayment Amounts paid to date) for each complete calendar month from the Issuance Date through the Change of Control Payment Date divided by (b) the number of complete calendar months used for purposes of the calculation in clause (a).](11)