Defaulted Principal definition

Defaulted Principal has the meaning specified in Section 307.
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Defaulted Principal has the meaning assigned to it in paragraph 1 of the Form of Reverse Side of Note contained in Exhibit A.
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Defaulted Principal means any principal on any Note which is payable, but is not punctually paid or duly provided for, on any Debt Service Payment Date.
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Examples of Defaulted Principal in a sentence

  • Defaulted Principal and Defaulted Interest (including any interest payable on such Defaulted Principal and Defaulted Interest) may be paid by the Company, at its election, as provided in Section 2.12(a) or (b).

  • When any installment of principal becomes Defaulted Principal or when any installment of interest becomes Defaulted Interest, such installment shall forthwith cease to be payable to the Holders in whose names the Notes were registered on the Record Date applicable to such installment of principal or interest.


More Definitions of Defaulted Principal

Defaulted Principal has the meaning specified in Section 2.3. Table of Contents
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Defaulted Principal means principal of any Bond which is not paid on the date due.
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Related to Defaulted Principal

  • Defaulted Loan shall have the meaning assigned to such term or an analogous term in the Lead Securitization Servicing Agreement

  • Defaulted Account means an Account in which there are Defaulted Receivables.

  • Defaulted Amounts means any amounts on any Note (including, without limitation, the Redemption Price, the Fundamental Change Repurchase Price, principal and interest) that are payable but are not punctually paid or duly provided for.

  • Defaulted Obligation means any Investment in Indebtedness (i) as to which, (x) a default as to the payment of principal and/or interest has occurred and is continuing for a period of thirty two (32) consecutive days with respect to such Indebtedness (without regard to any grace period applicable thereto, or waiver thereof) or (y) a default not set forth in clause (x) has occurred and the holders of such Indebtedness have accelerated all or a portion of the principal amount thereof as a result of such default; (ii) as to which a default as to the payment of principal and/or interest has occurred and is continuing on another material debt obligation of the Portfolio Company under such Indebtedness which is senior or pari passu in right of payment to such Indebtedness; (iii) as to which the Portfolio Company under such Indebtedness or others have instituted proceedings to have such Portfolio Company adjudicated bankrupt or insolvent or placed into receivership and such proceedings have not been stayed or dismissed or such Portfolio Company has filed for protection under Chapter 11 of the United States Bankruptcy Code (unless, in the case of clause (ii) or (iii), such debt is a DIP Loan, in which case it shall not be deemed to be a Defaulted Obligation under such clause); (iv) as to which a default rate of interest has been and continues to be charged for more than 120 consecutive days, or foreclosure on collateral for such debt has been commenced and is being pursued by or on behalf of the holders thereof; or (v) as to which the Borrower has delivered written notice to the Portfolio Company declaring such Indebtedness in default or as to which the Borrower otherwise exercises significant remedies following a default.

  • Defaulted Mortgage Loan means the Mortgage Loan in the event that the Mortgage Loan is delinquent at least 60 days in respect of its Monthly Payments or more than 60 days in respect of its balloon payment, in either case to be determined without giving effect to any grace period permitted by the Mortgage Loan Documents and without regard to any acceleration of payments under the Mortgage Loan Documents.

  • Defaulted Receivable means a Receivable:

  • Defaulted Interest has the meaning specified in Section 307.

  • Monthly Principal is defined in Section 4.1(d).

  • Called Principal means, with respect to any Note, the principal of such Note that is to be prepaid pursuant to Section 8.2 or has become or is declared to be immediately due and payable pursuant to Section 12.1, as the context requires.