Examples of Facility Principal in a sentence
Interest on the Standby Redraw Facility Principal accrues from day to day in respect of each Interest Period at the Prescribed Rate for that Interest Period on the amount of the Standby Redraw Facility Principal on that day and based on a 365 day year.
The Trustee at the direction of the Manager will on each Distribution Date pay to the Standby Redraw Facility Provider so much of the then accrued interest on the Standby Redraw Facility Principal as is available for this purpose in accordance with the Series Supplement.
If any payment by the Trustee on a Distribution Date pursuant to clause 5.3 is insufficient to pay the full amount of the then accrued interest on the Standby Redraw Facility Principal, such unpaid accrued interest will in turn accrue interest (as a separate and independent obligation) until paid at the Prescribed Rate for each succeeding Interest Period and if not paid on the Distribution Date at the end of each such succeeding Interest Period, will itself bear interest in accordance with this clause.
Interest on the Redraw Facility Principal accrues from day to day in respect of each Interest Period at the Prescribed Rate for that Interest Period on the amount of the Redraw Facility Principal on that day and will be calculated on the basis of the actual number of days elapsed in a 365 day year.
Notwithstanding clause 6.1, on the Distribution Date immediately following the Termination Date, the Trustee will pay or repay so much of the aggregate of all Standby Redraw Facility Principal together with interest accrued thereon and all other money, the payment or repayment of which forms part of the Obligations, as is available for this purpose in accordance with the Series Supplement.
The rate of interest applicable to the Redraw Facility Principal for an Interest Period is the Prescribed Rate for that Interest Period.
A Principal Chargeoff Reimbursement in relation to the Standby Redraw Facility Principal pursuant to clause 9.2 of the Series Supplement increases the amount of the Standby Redraw Facility Principal immediately prior to such Principal Chargeoff Reimbursement with effect from the Distribution Date following the Determination Date upon which the Principal Chargeoff Reimbursement was determined.
The Trustee will on each Distribution Date repay so much of the Standby Redraw Facility Principal on the previous Determination Date as is available for this purpose in accordance with the Series Supplement.
The Revolving Facility Balance will be payable in installments on each Payment Date according to Section 7.2. On each Payment Date, a mandatory payment will be due in an amount equal to the excess of (i) the Borrowing Base on the first day of the related Collection Period over (ii) the Borrowing Base as of the close of business on the last day of the related Collection Period (the "Revolving Facility Principal Payment Amount").
Credit Facility Principal Outstanding Assumed Interest Rate MaturityThe term loan is expected to have 5% of the outstanding principal payable on first anniversary of the day immediately following the Distribution Date; 10% of the outstanding principal payable on each of the second to fourth anniversary of the day immediately following the Distribution Date; and the remaining principal payable on the fifth anniversary of the day immediately following the Distribution Date.