Principal Moratorium Period definition
Principal Moratorium Period means the period of 24 months from the Issue Date of the Series 1 Bonds with respect to the Principal Amount;
Principal Moratorium Period means such period as specified in the Schedule, which offers the Borrower a principal moratorium for such period from the date of first drawdown / disbursement of the Loan. This Annexure and the terms and conditions hereunder shall come into force on the signing of the same by the Borrower and the Bank. With effect from the date of this Annexure and for the purposes of this Annexure, the Home Loan Agreement shall stand amended as follows:
Examples of Principal Moratorium Period in a sentence
The Aggregate Principal ▇▇▇▇▇▇ shall be amortised over the life of the Series 1 Bonds commencing after the Principal Moratorium Period in accordance with Condition 6 of Schedule 2 hereof.
During the Principal Moratorium Period, by way of amount calculated as per P-EMI and as mentioned in the Schedule, in case where the Loan is proposed to be paid before the commencement of EMI or towards repayment of interest before the commencement of the EMI.
Thus, the total monthly appropriation into the Series 1 Sinking Fund (from CDSA and ISPO) will be ₦[1,272,756,569.00], which shall be increased to N[1,840,379,635.00], following the expiration of the Principal Moratorium Period.