Principal Obligation definition

Principal Obligation means the Dollar Equivalent amount of (a) the aggregate outstanding principal amount of the Loans (including Swingline Loans); plus (b) the Letter of Credit Liability.

Principal Obligation means, at any time of calculation, the aggregate unpaid principal amount of the Loan or the Local Governmental Obligations, as applicable, which shall equal the Initial Obligation Amount less all Payments and all Prepayments on account of the principal amount thereof then or theretofore made or provided for by or for the account of the Borrower and received by or for the account of the Trust;

Principal Obligation means the aggregate outstanding principal amount of the Loans. The Principal Obligation of any Lender at any time shall be its Applicable Lender Percentage of the total Principal Obligation at such time.

Examples of Principal Obligation in a sentence

• Each Committed Lender hereby agrees, unconditionally and irrevocably and under all circumstances, without set-off, counterclaim or defense of any kind, to pay the full amount of its Assignment Amount on such Assignment Date to such Conduit Lender in Same Day Funds in Dollars based on the assigning Conduit Lender’s interest in the Principal Obligation, to an account designated by such Conduit Lender’s Funding Agent.

• Subject to Section 2.15, each such prepayment shall be applied to the Principal Obligation held by each Lender in accordance with its applicable Repayment Percentage.

• Prior to the effectiveness of any transfer by a Borrowing Base Investor, the applicable Borrower Party shall calculate whether, taking into account the Capital Commitments of the Borrowing Base Investors as if such transfer had occurred, the transfer would cause the Principal Obligation to exceed the Available Commitment, and shall calculate and make any Capital Calls required to pay any resulting mandatory prepayment under Section 3.04 prior to permitting such transfer.

• Without limiting the foregoing, a Conduit Lender may, from time to time, with prior or concurrent notice to the Borrower and the Administrative Agent, in one transaction or a series of transactions, assign all or a portion of its interest in the Principal Obligation and its rights and obligations under this Credit Agreement and any other Loan Documents to which it is a party to a Conduit Assignee.

• Upon payment of its Assignment Amount, each such Committed Lender shall acquire an interest in the Principal Obligation equal to its Committed Lender Percentage thereof.

More Definitions of Principal Obligation

Principal Obligation means a portion of the Principal Amount of the Loan as follows:

Principal Obligation means, for any particular Fund Group, the sum of: (a) the aggregate outstanding principal amount of the Loans of such Fund Group; plus (b) the Letter of Credit Liability of such Fund Group.

Principal Obligation means the sum of: (a) the aggregate outstanding principal amount of the Loans; plus (b) the Letter of Credit Liability.

Principal Obligation means, as of any date of determination, the aggregate outstanding amount of the Loans on such date, after giving effect to any Borrowings or prepayments being made on such date.

Principal Obligation means 25% of the outstanding principal balance as of the date of acceleration by the Bank.

Principal Obligation means, as of the date of any determination thereof, the aggregate unpaid principal balance of all Loans and Reimbursement Obligations made by any Bank up to the time in question.

Principal Obligation means any obligation to pay an amount to the Lenders, Hedging Counterparties or Lender Affiliates, or any one or more of them, whether present or future under or in connection with any Loan Document, Hedging Agreement or other instrument referred to in the definition of Guaranteed Obligations.