Principal Exposure definition

Principal Exposure means, with respect to any Creditor at any time, (i) if such Creditor is a Bank, the aggregate amount of such Bank’s commitments to extend revolving credit (including letters of credit) under the Bank Credit Agreement plus, to the extent any term loans have been extended, the principal amount of such term loans, or, if the Banks shall then have terminated their commitments to extend credit under the Bank Credit Agreement, the sum of (x) the outstanding principal amount of all of such Bank’s loans under the Bank Credit Agreement and (y) the outstanding face amount and/or principal amount of such Bank’s L/C Interests at such time, and (ii) if such Creditor is a Noteholder, the outstanding principal amount of such Creditor’s Senior Notes at such time.

Principal Exposure means, with respect to any Secured Party at any time (i) if such Secured Party is a Bank under the Bank Credit Agreement, the aggregate amount of such Secured Party’s Commitment under the Bank Credit Agreement, or, if the Banks shall then have terminated the Commitments under the Bank Credit Agreement, the sum of (x) the outstanding principal amount of such Secured Party’s Loans thereunder and (y) the outstanding face and/or principal amount of such Secured Party’s L/C Interests thereunder at such time and (ii) if such Secured Party is a Pru Noteholder, the outstanding principal amount of such Secured Party’s Pru Notes at such time.

Principal Exposure means at any time in relation to an Original Lender, the aggregate amount of that Original Lender’s participation (if any, without double counting) in all principal amounts, whether outstanding or undrawn, under each relevant Existing Facility Agreement as at the Signing Date.

Examples of Principal Exposure in a sentence

• Notwithstanding the foregoing clauses (a) and (b) or anything else in this Agreement to the contrary, the Aggregate Principal Exposure of extensions of credit made by the Term Loan Lenders to any of the Grantors that exceed the Maximum Term Loan Obligations, shall not be considered Term Loan Obligations for purposes of the Lien priority set forth in Section 2.2(b) above with respect to the Term Loan Priority Collateral.

• Details of Facility Principal Exposure [ ] [ ] [**] Our address for notices for the purposes of the Secured Co-ordination Agreement is: [ ] This Agreement is governed by English law.

• Further, if, after the completion of all purchases of Archer shares under xxx Xxnder Offer and the Statutory Merger Proceedings, if any, the Fixed Guaranty Principal Exposure is less than (x) the Stated Amount of the Loan Notes Guaranty upon its issuance, and is less than (y) (pound)12,850,000, then the Borrower shall be entitled to make an additional Borrowing of Tranche B Term Loans up to an amount equal to (pound)12,850,000 minus the Fixed Guaranty Principal Exposure.

• On all matters requiring the vote or consent of the Banks, all Banks shall vote as a single class with each Bank's vote being equal at any time to its Pro Rata Share of the Total Principal Exposure of all Banks under all Bank Facilities taken as a whole, the holders of a majority of such Total Principal Exposure of all Banks shall constitute the "Majority Banks", and the actions of the Majority Banks shall be binding on each of the Banks.

• USI agrees to pay to the Debt Coordinator on June 9, 2002, for the account of each Bank that returns an executed counterpart of this Amendment to the Debt Coordinator by July 8, 2002, an amendment fee in an amount equal to 0.05% of the Total Principal Exposure of such Bank.

More Definitions of Principal Exposure

Principal Exposure means with respect to any Lender at the time of an Event of Default, the amount of outstanding principal and accrued interest under such Lender's Bridge Note at such time.

Principal Exposure means, with respect to any Lender at any time (i) if such Lender is a Bank, (a) prior to the acceleration of the Obligations under the Bank Credit Agreement, the sum of (x) the aggregate amount of such Lender’s unfunded Commitments under the Bank Credit Agreement to the extent such Lender shall be contractually obligated to make Credit Extensions (as defined in the Bank Credit Agreement) pursuant to the terms of the Bank Credit Agreement, (y) the outstanding principal amount of such Lender’s Loans and (z) the outstanding face and/or principal amount of such Lender’s L/C Interests at such time, (b) after an acceleration of the Obligations under the Bank Credit Agreement but prior to the date upon which the Bank Credit Agreement has terminated by its terms and all of the Obligations thereunder shall have been paid in full, the sum of (x) the outstanding principal amount of such Lender’s Loans, (y) the outstanding face and/or principal amount of such Lender’s L/C Interests at such time and (z) the aggregate net early termination payments and all other amounts due and unpaid from the Borrower to such Bank or such Bank’s Affiliates under Rate Management Transactions, as determined by the Agent in its reasonable discretion and (z) after the Bank Credit Agreement has terminated by its terms and all of the Obligations thereunder have been paid in full (whether or not the Obligations under the Bank Credit Agreement were ever accelerated), the aggregate net early termination payments and all other amounts then due and unpaid from the Borrower to such Bank or such Bank’s Affiliates under Rate Management Transactions, as determined by the Agent in its reasonable discretion, and (ii) if such Lender is a Noteholder, the outstanding principal amount of such Lender’s Notes at such time, (iii) if such Lender is an Additional Holder that is party to a secured revolving credit facility or secured term loan credit facility (a) prior to the acceleration of the Obligations under the such Lender’s Eligible Additional Senior Secured Documents, the sum of (x) the aggregate amount of such Lender’s unfunded commitments under such Eligible Additional Senior Secured Documents to the extent such Lender shall be contractually obligated to make extensions of credit pursuant to the terms of such Eligible Additional Senior Secured Documents and (y) the outstanding unpaid principal amount of such Lender’s Eligible Additional Senior Secured Indebtedness, (b) after an acceleration of the Obli...

Principal Exposure means, with respect to any Lender at any time (i) if such Lender is a U.S. Bank, the aggregate amount of such Lender’s Commitment under the U.S. U.S. Agreement, or, if the U.S. Banks shall then have terminated the Commitments, the sum of (x) the outstanding principal amount of such Lender’s U.S. Loans and (y) the outstanding face and/or principal amount of such Lender’s L/C Interests at such time, and (ii) if such Lender is a Chinese Lender, the aggregate amount of such Lender’s Commitment under the Chinese Agreement, or, if the Chinese Lenders shall have terminated their Commitments, the outstanding principal amount of such Lender’s Chinese Loans at such time.

Principal Exposure means on any date in respect of Senior Borrowing Creditor, the aggregate principal amount outstanding to that Senior Borrowing Creditor under a Senior Borrowing Facility (converted to euros (if required) on such date at the Exchange Rate), provided that any calculation of the Principal Exposure of any USPP Noteholder prior to the Enforcement Point shall not include any amount owing under or in respect of the Make-Whole Notes.

Principal Exposure means with respect to any Lender at the time of an Event of Default, the amount of outstanding principal and accrued interest under such Lender's Interim Note or the amount of the Lender's Guaranty of Bank Debt which has not been extinguished.

Principal Exposure means with respect to any Senior Claimholder, the sum of (1) the aggregate amount of such Senior Claimholder’s commitments to extend revolving credit or make term loans to any Borrower under any Senior Document (or, if such Senior Claimholder’s commitments to extend revolving credit or make term loans have terminated, the principal balance of any such loans actually advanced and outstanding) and, without duplication, and (2) the outstanding principal amount of any notes made by any Borrower in favor of such Senior Claimholder pursuant to any Senior Document.

Principal Exposure means, at any time, the outstanding principal amount of the Loan at such time.