Principal Requirement definition

Principal Requirement means an amount equal to the regularly scheduled principal that is due and payable on the Interest Payment Date next succeeding the date of determination, whether by maturity or by mandatory sinking fund redemption; provided that with respect to the Subordinate Bonds, Principal Requirement shall mean the respective principal amounts of such bonds.

Principal Requirement means for any Principal Payment Date, as applied to all Bonds or a portion thereof, the total of the principal regularly scheduled to become due on such Principal Payment Date. Principal payments shall be excluded from the definition of Principal Requirement to the extent that proceeds of any Bonds are held by the Trustee to pay such Principal.

Principal Requirement means for any Principal Payment Date, as applied to all Bonds or a portion thereof, the total of the principal regularly scheduled to become due on such Principal Payment Date. Principal payments shall be excluded from the definition of Principal Requirement to the extent that proceeds of any Bonds or other funds are held by the Trustee to pay such Principal.

Examples of Principal Requirement in a sentence

• If, upon any TIF Accounting, there are funds on deposit in and to the credit of the Junior Lien Principal and Interest Account in excess of any Junior Lien Principal Requirement and the Junior Lien Interest Requirement, such funds shall be transferred by the City Treasurer to the General Account as hereinbelow provided.

• If, upon any Business Districts Accounting, there are funds on deposit in and to the credit of a respective Principal and Interest Account in excess of such respective Principal Requirement and such respective Interest Requirement, such funds shall be transferred by the City Treasurer to the respective Extraordinary Mandatory Redemption Account as hereinbelow provided.

• If, upon any TIF Accounting, there are funds on deposit in and to the credit of the Senior Lien Principal and Interest Account in excess of such Principal Requirement and such Interest Requirement, such funds shall be transferred by the City Treasurer to the Administrative Account as hereinbelow provided.

• Each Business Districts Accounting shall determine for the Target Area Bonds or the Costco Area Bonds, respectively, the respective Principal Requirement and the respective Interest Requirement for the next Bond Year.

• Upon being so notified, the Subordinated Loan Provider may, in its sole discretion, make a Class A1 Principal Requirement Advance available to the Issuer prior to such immediately following Payment Date in any amount up to (and including) the Class A1 Principal Requirement Shortfall.

More Definitions of Principal Requirement

Principal Requirement means for any Bonds, Additional Bonds, or Junior Lien Bonds and for any Bond Year the aggregate principal amount of such Bonds, Additional Bonds, or Junior Lien Bonds having a Stated Maturity during such Bond Year.

Principal Requirement means, with respect to each Series of Bonds as of any date of calculation, an amount equal to: (1) the accrued portion of the Principal Payment coming due on or before the next succeeding Regular Payment Date. For such purposes, daily accrual of principal shall be computed on a straight-line basis over the period between scheduled payments of principal on the Series; or (2) the Redemption Price of any Bonds for which notice of Redemption has been issued (other than by operation of Mandatory Sinking Account Payments), but which have not been retired.

Principal Requirement for any Bond Year shall mean, as applied to the Bonds of a Series then outstanding, the total of the sums that would be deemed to accrue on such Bonds during such Bond Year if

Principal Requirement means, as of any particular date of calculation, the amount of money equal to any unpaid Principal Installment then due with respect to each Series of Outstanding Bonds and the amount of the next succeeding Principal Installment divided by the number of Redemption Fund Deposit Days prior to the next Principal Installment Date with respect to each Series of Outstanding Bonds.

Principal Requirement means, for any Fiscal Year, the aggregate principal amount of Bonds having a Stated Maturity on November 1 of such Fiscal Year and May 1 of the next Fiscal Year.

Principal Requirement means as of any particular date of calculation with respect to Bonds Outstanding on that date, the amount of money equal to any unpaid Principal Installment then due, plus the Principal Installment to become due on the Bonds on the next succeeding Principal Installment Date.

Principal Requirement for any Bonds means an amount equal to the regularly scheduled principal that is due and payable on such Bonds on the Bond Payment Date next succeeding the date of determination, whether by maturity or by mandatory sinking fund redemption pursuant to the Indenture, multiplied by a fraction the numerator of which is one and the denominator of which is the number of whole calendar months in the period commencing on the last date of payment of regularly scheduled principal (or the date of issuance of such Bonds, if no principal has been paid) and ending on the next Bond Payment Date for payment of regularly scheduled principal.