How is Principal Outstanding Balance defined in a legal contract?
- Principal Outstanding Balance means the total of: the original principal amount provided to the borrower; any other payouts, legal charges, fees, costs or premiums capitalized by the seller; any additional advance of principal to the borrower; less any repayments, but once the enforcement procedures in relation to a Mortgage Backed Credit are completed, the amount of such a Credit will be considered as zero. Seen in 3 SEC filings.
- Principal Outstanding Balance means, at any time for a loan, the principal outstanding amount of such loan at that time, not including (a) accumulated interest and (b) dues awaiting revenue from the borrower, calculated in line with the terms of the relevant primary documents. Seen in 2 SEC filings.
- Principal Outstanding Balance means, at any time with respect to a bond, the remaining principal amount of such bond at that time excluding (i) accrued interest and (ii) costs due but not received from the obligor, calculated according to the terms of the relevant bond documentation. Seen in 1 SEC filing.
- Principal Outstanding Balance means in the case of any SME Bond on any date, the total original principal amount advanced to the SME Bond issuer with regard to such SME Bond less any repayments of such amounts. Seen in 1 SEC filing.
Note: pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.
yourself to verify these results. We are always keen to point people to source documents.
Which definition should you use?
🤔 has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
- Principal Outstanding Balance means the total original principal amount advanced less any reimbursements.
Relevant Contract Types
Relevant Circumstances
- When a financial agreement involves loans or advances to be paid back.
- When the principal amount and reimbursements need to be calculated and clarified.
Relevant Sectors
Genie Definition 2
- Principal Outstanding Balance means remaining principal sum of a [financial instrument], excluding accrued interest and due unpaid charges.
Relevant Contract Types
Relevant Circumstances
- When dealing with bonds or similar financial instruments.
- When the principal remainder, overdue interest and charges need to be calculated and clarified.
Relevant Sectors
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Principal Outstanding Balance means the total original principal amount advanced less any reimbursements.
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