Original Stated Amount definition
Examples of Original Stated Amount in a sentence
All Payment Obligations shall be made against and evidenced by the City’s promissory note payable to the order of the Bank in the principal amount equal to the Original Stated Amount, such note to be executed and delivered to the Bank on the Issuance Date in the form of Exhibit B attached hereto with appropriate insertions (the “Bank Note”).
The Bank agrees, on the terms and conditions hereinafter set forth, to issue the Letter of Credit to the Issuing and Paying Agent in the Original Stated Amount and expiring by its terms not later than the Letter of Credit Expiration Date.
At the request of the Borrower, the Bank agrees, on the terms and conditions hereinafter set forth, to issue the Letter of Credit, in the form of Exhibit A attached hereto, in the Original Stated Amount for the account of the Borrower and deliver the Letter of Credit to the Trustee.
The Letter of Credit shall be in the Original Stated Amount, which is the sum of (i) the outstanding principal amount of the Bonds as of the Effective Date, plus (ii) interest thereon at an assumed rate of twelve percent (12%) per annum for a period of forty-eight days on the basis of a 365 day year.
The Letter of Credit shall be in the Original Stated Amount of $43,411,550 (the "Original Stated Amount"), which is the sum of (i) the principal amount of the Bonds on the Date of Issuance, plus (ii) interest thereon at the Cap Interest Rate for a period of One Hundred Eighty-Five (185) days.