The Principal Amount definition

The Principal Amount means the sum of ten million six hundred fifty-one thousand dollars ($10,651,000). Interest on the unpaid Principal Amount shall accrue from the date of this Note at the annual rate to be determined quarterly as of each Interest Payment Date (as defined below) equal to the sum of the prime rate of interest fixed by CitiBank, N.A. (the "Prime Rate"), as of the date of this Note and on each Interest Payment Date, plus one percent (1%).

The Principal Amount means the sum of two hundred seventy-two thousand five hundred dollars ($272,500).

The Principal Amount. (as defined in Section 3(a)(i) below), together with all accrued but unpaid cash interest thereon, if any, on May 15, 2002 (the "Maturity Date") to the extent such Principal Amount and cash interest has not been converted into the Company's Common Stock, $.001 par value per share (the "Common Stock"), in accordance with the terms hereof, and to pay interest on the unpaid principal balance hereof at the rate of 6% per annum from March 31, 1999 (the "Issuance Date") until the same becomes due and payable on the Maturity Date, or such earlier date upon acceleration or by conversion or redemption in accordance with the terms hereof. Interest on this Note shall commence accruing on the Issuance Date and shall be computed on the basis of a 360-day year, 30-day months and actual days elapsed and shall be payable in accordance with Section 3(a)(ii) hereof. Notwithstanding anything contained herein, this Note shall bear interest from and after the occurrence and during the continuance of a default pursuant to Section 5(a), at the rate equal to the lower of fifteen percent (15%) per annum or the highest rate permitted by law. Unless otherwise agreed or required by applicable law, payments will be applied first to any unpaid collection costs, then to unpaid interest and fees and any remaining amount to principal. All payments of principal and interest on this Note (to the extent such principal and/or interest is not converted into Common Stock or interest is not paid in-kind in accordance with the terms hereof) shall be made in lawful money of the United States of America by wire transfer of immediately available funds to

Examples of The Principal Amount in a sentence

• The Principal Amount Outstanding of the Notes redeemed will be in the same proportion as the proportion that the principal payment received by the Issuer has to the total principal amount outstanding of all the Series Specific Loans immediately before the principal payment.

• The Principal Amount of the Loan shall be repaid in accordance with Schedule I to the Promissory Note on the dates specified therein until fully paid.

• The Principal Amount and all payments under the Deposits will be in Canadian dollars.

• The Principal Amount and all payments under the Deposits will be in Canadian dollars.Orders for purchases of Deposits may be accepted in whole or in part, and the right to allot Deposits to investors in an amount less than subscribed for by the investors is reserved by the Bank.

• The Principal Amount of a Note will be repaid only if the Note is held to maturity.

More Definitions of The Principal Amount

The Principal Amount means the sum of five hundred eleven thousand five hundred and sixty three dollars ($ 511,563).

The Principal Amount means the sum of four hundred sixty-five thousand six hundred twenty-five dollars ($465,625).

The Principal Amount means the sum of $2,189,795.00.

The Principal Amount means the sum of two hundred fifty thousand dollars ($250,000).

The Principal Amount means the sum of One Million Three Hundred One Thousand Seven Hundred Forty Five and No/100 Dollars ($1,301,745.00).

The Principal Amount means the sum of forty-five thousand dollars ($45,000).

The Principal Amount means the sum of One Million Two Hundred Fifty- Eight Thousand Dollars ($1,258,000).