Examples of Principal Reduction Amount in a sentence
In the event that the portion of the Principal Reduction Amount allocable to the Class B Reference Tranche exceeds its Class Notional Amount after the allocation of the Calculated Tranche Write-down Amount, such excess shall be allocated to reduce the Class Notional Amount of the Class A-H Reference Tranche.
If a Waterfall Trigger Event has occurred and is continuing on such Payment Date, the Principal Reduction Amount shall be allocated first to reduce the Class Notional Amount of the Class A-H Reference Tranche until its Class Notional Amount is reduced to zero, and then to reduce the Class Notional Amount of the Class B Reference Tranche until its Class Notional Amount is reduced to zero.
Property Owner acknowledges and agrees that upon receipt of the payment of $13,000 for the Assessment Principal Reduction Amount, the City shall instruct Crow Wing County to revise the Property’s 2024 property tax statements for taxes payable 2024 to remove the special assessments related to the Project.