Principal Account definition

Principal Account as set forth in the Standard Terms and Conditions of Trust shall be replaced with the term "Capital Account."

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Principal Account means the account designated as such, established and owned by the Issuer and maintained in accordance with Section 4.2.

Principal Account means the Account within the Debt Service Fund so designated and established by Article V.

Examples of Principal Account in a sentence

The Trustee shall not be required to make a distribution from the Principal Account unless the cash balance on deposit therein available for distribution shall be sufficient to distribute at least $1.00 per Unit.
Indenture Trustee at all times shall maintain accurate records reflecting each transaction in the Finance Charge Account, the Principal Account and the Distribution Account.
Nothing herein shall be construed to prevent the payment of amounts from the Interest Account and the Principal Account of a Trust to individual Unitholders by means of one check, draft or other proper instrument, provided that the appropriate statement of such distribution shall be furnished therewith as provided in Section 3.06 hereof.
The Indenture Trustee, at the written direction of the Servicer, shall make withdrawals from the Finance Charge Account, the Principal Account and the Distribution Account from time to time, in the amounts and for the purposes set forth in this Indenture Supplement.
The Indenture Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Finance Charge Account, the Principal Account and the Distribution Account and in all proceeds thereof.

More Definitions of Principal Account

Principal Account is defined in Section 4.9(a).

Principal Account shall have the meaning specified in subsection 4.02(b).

Principal Account means the account by that name in the Bond Fund established pursuant to Section 5.02.

Principal Account means the account by that name established and held by the Trustee pursuant to Section 4.03(b).

Principal Account means the interest bearing account described as such in the name of the Issuer with the Account Bank into which Principal Proceeds are to be paid.

Principal Account is defined in subsection 5.9(a).

Principal Account means the account by that name established in the Revenue Fund pursuant to Section 5.02.