Premium Component definition
Examples of Premium Component in a sentence
In no event shall reductions in the Premium Component be reinstated.
Additionally, upon receipt of a Notice of Reduction in the form of Exhibit 4 to this Letter of Credit purportedly executed by you, we will reduce the Principal Component, Interest Component and Premium Component to the amounts therein stated.
The Premium Component shall be reduced immediately following our honoring any draft drawn hereunder to pay premium on Eligible Bonds in connection with a Redemption/Mandatory Purchase Drawing, by an amount equal to the amount of such draft.
If, subsequent to the date hereof, the Premium Component shall be increased by us at the request of the Account Party, the Premium Component shall be subject to reduction as provided below, and amounts drawn in respect thereof shall not be subject to reinstatement.
Notwithstanding the foregoing, any portion of the Sublease Rents so received by Landlord that otherwise constitutes a part of the Transfer Premium under Section 11.02 of the Original Lease (any such portion, collectively, the "Transfer Premium Component") shall be retained by Landlord and not be applied to (or otherwise reduce) the Past Due Amount.
Following the date that the Past Due Amount is fully repaid, any such election by Landlord for direct payment of the Sublease Rents shall be of no further force and effect, and New Subtenant may commence payment thereof to Tenant under and in accordance with the New Sublease (subject, however, to Tenant's obligation to remit to Landlord any Transfer Premium Component, if applicable).