Principal Payment Date definition: Copy, customize, and use instantly
Introduction
The term "Principal Payment Date" refers to the scheduled date when the principal amount of a loan or debt obligation is due to be repaid. It is a critical element in financial agreements, as it establishes the timeline for when the borrower is required to pay back the borrowed amount, excluding interest. Understanding the principal payment date is essential for ensuring that payments are made on time, preventing defaults, and complying with the terms of the agreement.
Below are various examples of how "Principal Payment Date" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Principal Payment Date" as a Scheduled Date
This definition ties "Principal Payment Date" to a scheduled date for repayment.
"Principal Payment Date" means the specific date on which the borrower is required to repay the principal portion of the loan in full or according to the agreed-upon schedule.
Definition of "Principal Payment Date" as a Contractual Obligation
This definition connects "Principal Payment Date" to a contractual obligation.
"Principal Payment Date" refers to the date specified in the loan agreement for the borrower to make a payment toward the principal balance of the loan, as part of their repayment obligations.
Definition of "Principal Payment Date" as the Date of Final Repayment
This definition links "Principal Payment Date" to the date of final repayment.
"Principal Payment Date" means the final date by which the borrower is required to make a full repayment of the principal amount owed under the loan agreement, marking the completion of the loan term.
Definition of "Principal Payment Date" as a Periodic Repayment Date
This definition applies "Principal Payment Date" to periodic repayments.
"Principal Payment Date" refers to any scheduled date on which the borrower must make periodic payments toward the principal amount of the loan, excluding interest payments.
Definition of "Principal Payment Date" as a Due Date
This definition ties "Principal Payment Date" to a due date for payment.
"Principal Payment Date" means the due date for the borrower to make a payment towards the principal balance of the loan, as outlined in the loan agreement.
Definition of "Principal Payment Date" as a Specific Day
This definition connects "Principal Payment Date" to a specific day.
"Principal Payment Date" refers to the specific day on which the borrower is expected to pay back the principal amount in full or make a partial payment if applicable.
Definition of "Principal Payment Date" as a Fixed Date in a Loan Agreement
This definition links "Principal Payment Date" to a fixed date in the loan agreement.
"Principal Payment Date" means the fixed date set in the loan agreement on which the principal balance is due to be repaid, either in full or according to a predetermined payment schedule.
Definition of "Principal Payment Date" as a Milestone in Loan Repayment
This definition applies "Principal Payment Date" to a repayment milestone.
"Principal Payment Date" refers to a milestone in the repayment schedule where the borrower is obligated to pay a portion of the loan's principal amount as per the terms of the loan agreement.
Definition of "Principal Payment Date" as an Important Loan Term
This definition ties "Principal Payment Date" to an important term in the loan agreement.
"Principal Payment Date" means an important term in the loan agreement that dictates the specific date by which the borrower must repay the principal amount of the loan.
Definition of "Principal Payment Date" as a Date for Capital Repayment
This definition connects "Principal Payment Date" to capital repayment.
"Principal Payment Date" refers to the date on which the borrower is obligated to repay the principal or capital amount of the loan, typically excluding any interest payments.
Definition of "Principal Payment Date" as the Start of Repayment Period
This definition links "Principal Payment Date" to the start of the repayment period.
"Principal Payment Date" means the date marking the beginning of the repayment period for the principal loan amount, which is due on a recurring basis according to the loan schedule.
Definition of "Principal Payment Date" as a Borrower's Obligation
This definition applies "Principal Payment Date" to the borrower’s obligation.
"Principal Payment Date" refers to the obligation of the borrower to make a payment towards the principal loan balance by the specified due date set forth in the agreement.
Definition of "Principal Payment Date" as a Loan Maturity Date
This definition ties "Principal Payment Date" to the loan maturity date.
"Principal Payment Date" means the date on which the entire principal balance of the loan is due to be repaid, marking the maturity of the loan term.
Definition of "Principal Payment Date" as a Scheduled Repayment Event
This definition connects "Principal Payment Date" to a scheduled repayment event.
"Principal Payment Date" refers to a scheduled event where the borrower must repay a specified portion of the loan principal as per the repayment plan outlined in the agreement.
Definition of "Principal Payment Date" as a Loan Term Date
This definition links "Principal Payment Date" to a loan term.
"Principal Payment Date" means the specific date within the loan term by which the borrower is expected to repay part or all of the principal loan balance, as agreed upon by both parties.
Definition of "Principal Payment Date" as a Payment Due Date
This definition applies "Principal Payment Date" to a payment due date.
"Principal Payment Date" refers to the payment due date by which the borrower must repay the principal portion of the loan, in accordance with the terms set in the loan agreement.
Definition of "Principal Payment Date" as a Specific Point in Time
This definition connects "Principal Payment Date" to a specific point in time.
"Principal Payment Date" means a specific point in time set in the loan agreement when the borrower is required to repay part or all of the principal amount.
Definition of "Principal Payment Date" as a Due Date for Capital Amounts
This definition links "Principal Payment Date" to capital repayment due dates.
"Principal Payment Date" refers to the due date specified in the loan agreement for the borrower to repay the principal amount, ensuring that the debt is paid off within the agreed-upon timeframe.
Definition of "Principal Payment Date" as a Prepayment Date Option
This definition ties "Principal Payment Date" to a prepayment option.
"Principal Payment Date" means the date by which the borrower may make a prepayment towards the principal amount, which may be earlier than the scheduled payment date according to the terms.
Definition of "Principal Payment Date" as the Date for Full Principal Repayment
This definition connects "Principal Payment Date" to full principal repayment.
"Principal Payment Date" refers to the final date by which the full principal loan amount is to be repaid in accordance with the loan agreement's terms.
Definition of "Principal Payment Date" as a Date for Partial Payments
This definition links "Principal Payment Date" to partial payments.
"Principal Payment Date" refers to the scheduled date for making partial payments toward the loan's principal balance, which is part of the agreed-upon repayment plan.
Definition of "Principal Payment Date" as an Adjustment Date
This definition applies "Principal Payment Date" to an adjustment date.
"Principal Payment Date" means the date on which an adjustment to the principal balance is due, based on changes in the loan agreement or a refinancing event.
Definition of "Principal Payment Date" as a Trigger for Default
This definition ties "Principal Payment Date" to default provisions.
"Principal Payment Date" refers to the date when the borrower must make the repayment towards the principal, with failure to do so triggering default under the terms of the agreement.
Definition of "Principal Payment Date" as the First Repayment Due Date
This definition connects "Principal Payment Date" to the first repayment.
"Principal Payment Date" refers to the first date on which the borrower is required to make a repayment towards the principal balance of the loan.
Definition of "Principal Payment Date" as a Pre-Specified Date
This definition applies "Principal Payment Date" to a pre-specified date.
"Principal Payment Date" means a pre-specified date on which the borrower must repay a portion or the entire principal balance of the loan.
Definition of "Principal Payment Date" as a Calendar Date for Repayment
This definition ties "Principal Payment Date" to a calendar date.
"Principal Payment Date" refers to the calendar date on which repayment of the principal amount is due, according to the terms of the loan agreement.
Definition of "Principal Payment Date" as a Scheduled Loan Date
This definition links "Principal Payment Date" to a loan schedule.
"Principal Payment Date" means a scheduled loan date specified in the loan agreement when the borrower must repay the principal amount either in full or in installments.
Definition of "Principal Payment Date" as a Compliance Date
This definition connects "Principal Payment Date" to compliance.
"Principal Payment Date" refers to the date by which the borrower must comply with the repayment terms of the loan, ensuring timely payment of the principal.
Definition of "Principal Payment Date" as a Debt Obligation Date
This definition applies "Principal Payment Date" to debt obligations.
"Principal Payment Date" means the date by which the borrower is required to fulfill the debt obligation by repaying the principal amount, as outlined in the loan agreement.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.