Unpaid Principal definition

Unpaid Principal means any amount of principal of the Loan which has not been repaid on or before 5 June 2030 as a result of the operation of paragraph 4.2a (Cap on principal payments by reference to cumulative GDP growth).

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Unpaid Principal means an amount equal to the aggregate amount of the Outstanding Principal and the Accrued and Outstanding Interest. All words and phrases used herein shall have the meaning specified in the Code except to the extent such meaning is inconsistent with this Agreement. Terms not otherwise defined herein shall have the same meanings as in the Note.

Unpaid Principal amount shall mean the Original Principal or such lesser amount as then remains outstanding pursuant to that certain Senior, Secured Promissory Note (the “Note”) of even date as the Issuance Date. This Warrant shall not become exercisable unless and until an Event of Default (as defined in the Note) has occurred. Whether an Event of Default has occurred shall be determined (1) by the written acknowledgement of such occurrence by the Company or (2) in accordance with the provisions of the Loan and Investment Agreement between the Company and Entrepreneurs Fund, BV dated July 17, 2003 and the Note. This Warrant and the rights granted hereby are subject to the following terms and conditions:

Examples of Unpaid Principal in a sentence

If the Mortgage Loan is subject to a Bankruptcy Deficiency, the difference between the Unpaid Principal Balance of the Note prior to the Bankruptcy Deficiency and the Unpaid Principal Balance as reduced by the Bankruptcy Deficiency should be input on line 16.
With respect to the calculation of a Realized Loss on a Mortgage Loan subject to a Deficient Valuation, the amount of the Realized Loss is the difference between the Unpaid Principal Balance of the related Mortgage Loan immediately prior to the Deficient Valuation and the Unpaid Principal Balance as reduced by the Deficient Valuation.
The amount to be applied to interest for a multiple installment must be calculated using the Unpaid Principal Balance of the related Mortgage Loan remaining after the previous interest calculation and principal application.
If the Insurance Proceeds paid in respect of any Mortgage Loan are not used to repair the related Mortgaged Property due to the particular circumstances of the loss, and instead such Insurance Proceeds are applied to reduce the Unpaid Principal Balance of such Mortgage Loan and such application causes the Unpaid Principal Balance of such Mortgage Loan to reduce to zero, the Servicer must treat the application of such proceeds as a Liquidation, and notify the Master Servicer of such Liquidation.
The interest portion of the next installment due is then calculated based on the Unpaid Principal Balance of the related Mortgage Loan after application of the Curtailment.
As to each Mortgage Loan which is required to have Primary Mortgage Insurance, pursuant to this Agreement or the related Mortgage Loan Documents, Primary Mortgage Insurance must at least provide coverage which insures against loss of that portion of the Unpaid Principal Balance of the Mortgage Loan that exceeds 75% of the Value of the Mortgaged Property.
Under this method, the interest due from a Borrower on a Due Date is calculated based on (a) the Unpaid Principal Balance of the related Mortgage Loan prior to application of the principal portion of the related current Monthly Payment, (b) thirty days interest at the related Mortgage Interest Rate and (c) adjusted as herein provided for the effects of Curtailments, Partial Liquidation Proceeds, Prepayments in Full and Liquidations.
As to each Mortgaged Property, the amount of Hazard Insurance must be at least equal to the lesser of (a) the Unpaid Principal Balance of the related Mortgage Loan or (b) 100% of the insurable value of the improvements on the Mortgaged Property; provided, however, that in no case shall the amount of Hazard Insurance be less than the amount required to fully compensate for any damage to the improvements on the Mortgaged Property on a replacement cost basis.
The principal portion is then applied to the Unpaid Principal Balance of the related Mortgage Loan.
If the Mortgage Loan provides for negative amortization or for the potential of negative amortization, the Primary Mortgage Insurance policy must also insure any increase in the Unpaid Principal Balance from the original principal balance of the related Mortgage Note.

More Definitions of Unpaid Principal

Unpaid Principal means, with respect to any Payment Date the amount, if ----------------- any, by which the sum of (a) the Note Principal Payment in respect of all prior Payment Dates and (b) the Contract Amortization Shortfall on the Amortization Commencement Date exceeds the amount paid to Noteholders on such prior Payment Dates pursuant to Section 7.3(k)(i).

Unpaid Principal means the aggregate of all unpaid principal amounts owing to Noteholders in respect of the Existing Unsecured Notes immediately prior to the Effective Time.