Principal Subaccount definition

Principal Subaccount means the Principal Subaccount established pursuant to Section 4 of this Proceeds Agreement for each Locality.

Principal Subaccount means a subaccount of the Collection Account established and maintained by the Trustee, for purposes of administering certain of the allocations and payments provided for under the Agreement, to which amounts constituting Principal Collections which are deposited in the Collection Account shall be credited until withdrawn from the Collection Account.

Principal Subaccount means a subaccount of the Debt Service Account reaffirmed by the provisions hereof for the purpose of paying the principal of and premium, if any, on the Note and any Parity Lien Obligations.

Examples of Principal Subaccount in a sentence

• On each redemption date, the Trustee will withdraw from each Series Redemption Subaccount and Series Principal Subaccount amounts to pay the Redemption Price of the Series of Bonds.

• On each Debt Service Payment Date, the Trustee will (i) withdraw from each Series Interest Subaccount amounts to pay interest on the Series of Bonds (other than Subordinate Bonds) and amounts due under any Enhancement Agreement, and (ii) withdraw from each Series Principal Subaccount amounts for the Principal Payment on the Series of Bonds (other than Subordinate Bonds).

• For each Series of Bonds, the Trustee will establish a Series Debt Service Account within the Debt Service Fund and therein a Series Interest Subaccount, a Series Principal Subaccount and a Series Redemption Subaccount.

• Remove the short from the 3478A and apply an accurate + 3V to the HI and LO INPUT Terminals.

• To the extent that the amount on deposit in the Income Subaccount exceeds the sum of the Locality Rebate Requirement and Yield Reduction Payment for the Locality, such excess shall be transferred to the Principal Subaccount of the Locality.

More Definitions of Principal Subaccount

Principal Subaccount shall have the meaning set forth in Section 1 of the Collateral Trust Agreement.

Principal Subaccount means a subaccount of the Bond Account established by the provisions hereof for the purpose of paying the principal of and premium, if any, on the Prior Bonds, the Bonds and any Parity Lien Bonds.

Principal Subaccount means the subaccount by that name within the Redemption Account established under Section 3.03.

Principal Subaccount means the principal subaccount of the Indenture Trustee Payment Account where the Trustee shall transfer the Principal Amount on each Transfer Date.

Principal Subaccount means a subaccount of the Bond Fund affirmed by the provisions hereof for the purpose of paying the principal of and premium, if any, on the Bond and any Parity Obligations.

Principal Subaccount means the subaccount within the Trust Account established pursuant to Section 2.02(a)(ii).

Principal Subaccount means, with respect to any Series -------------------- of Notes, the subaccount of the Collection Account established under the related Indenture Supplement for the amortization of principal of such Notes.