Principal Payment definition

Principal Payment. Any payment of principal on a Mortgage Loan other than a Principal Prepayment.

Principal Payment means, with respect to any Purchased Asset, any payment or prepayment of principal received or allocated as principal in respect thereof.

Principal Payment. As to any Mortgage Loan and Collection Period, all amounts received or, in the case of the principal portion of any Payment Ahead, deemed to have been received by the Servicer from or on behalf of the related Mortgagor during such Collection Period (including Principal Prepayments) that, at the time of receipt or, in the case of any Payment Ahead, at the time such Payment Ahead is deemed to have been received, were applied or were required to be applied by the Servicer in reduction of the Principal Balance of such Mortgage Loan.

Examples of Principal Payment in a sentence

The parties agree that both (i) the Principal Payment remitted to the CHARTER SCHOOL on or about October 6, 2023, and (ii) the interest payment as reflected in the Funding Letter sent to the CHARTER SCHOOL on or about October 6, 2023, accurately reflect the total amount due to the CHARTER SCHOOL.
Seller fails to remit (or cause to be remitted) to Purchaser any Principal Payment, or portion thereof, received with respect to a Purchased Asset for application to the payment of the Repurchase Price for such Purchased Asset in accordance with Article 5.
To the extent that Purchaser received from the applicable Servicer a greater amount of any Material Principal Payment than is required to be paid to Purchaser in accordance with Article 5(f)(ii), Seller shall notify Purchaser in writing and Purchaser shall promptly 84 BUSINESS.31481134.1132540646.2 85 BUSINESS.31481134.1132540646.2 remit, within two (2) Business Days of receipt, any excess collection to the Collection Account for application by Seller in accordance with Article 5(f)(ii).
Upon the date this Agreement is signed by the last party, the CHARTER SCHOOL’s Principal Payment shall no longer be subject to restrictions on the use of such funds, so long as such funds are spent for a lawful purpose under Florida Statutes applicable to charter schools or any Florida Education Finance Program (FEFP) allowable expenditure, including but not limited to day-to-day operating expenses, textbooks, technology, transportation, building, remodeling, and debt service.

More Definitions of Principal Payment

Principal Payment means, with respect to a Reference Obligation and any Reference Obligation Payment Date, the occurrence of a payment of an amount to the holders of such Reference Obligation in respect of principal (scheduled or unscheduled) in respect of such Reference Obligation other than a payment in respect of principal representing capitalised interest, excluding, for the avoidance of doubt, any relevant Writedown Reimbursement or relevant Interest Shortfall Reimbursement.

Principal Payment means, with respect to any Purchased Loan, any payment or prepayment of principal received in respect thereof (including insurance casualty or condemnation proceeds to the extent that such proceeds are not to be reserved, escrowed, readvanced or applied for the benefit of the Underlying Obligor or the related Property and to the extent that such proceeds are permitted by the terms of the Purchased Loan Documents to be applied to principal and which are, in fact, so applied). For purposes of clarification, prepayment premiums, fees or penalties shall not be deemed to be principal.

Principal Payment. The principal of this Promissory Note shall be payable on the Maturity Date.

Principal Payment shall have the meaning set forth in Section 2(c).

Principal Payment means, with respect to any Reference Obligation Payment Date, the occurrence of a payment of an amount to the holders of the Reference Obligation in respect of principal (scheduled or unscheduled) in respect of the Reference Obligation other than a payment in respect of principal representing capitalized interest that relates to the Term of the Transaction, excluding, for the avoidance of doubt, any Writedown Reimbursement or Interest Shortfall Reimbursement.

Principal Payment. With respect to each Loan, the principal of this Promissory Note shall be payable on the applicable Maturity Date.

Principal Payment means, with respect to any Purchased Loan, any payment of principal (including any or full and partial prepayment) received in respect thereof (including insurance casualty or condemnation proceeds to the extent that such proceeds are not to be reserved, escrowed, re-advanced or applied for the benefit of the Mortgagor or the related Mortgaged Property and to the extent that such proceeds are permitted by the terms of the Purchased Loan Documents to be applied to principal and which are, in fact, so applied). For purposes of clarification, prepayment premiums, fees or penalties shall not be deemed to be principal.

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