Principal
The face amount or par amount of a bond, not including interest, payable on its maturity date.
bond-basics
Acceleration
A remedy sometimes available under an Indenture, Bond Resolution or other financing document which permits the Trustee or bondholder to declare all future payments of Principal immediately due and payable after the occurrence of certain specified Events of Default.
See Also
Default
Breach of a covenant, promise or duty imposed by the bond, bond resolution/ordinance, an indenture or other financing document.
Start with the Bond Basics
Hundreds of Terms and Concepts
Escrow Trustee (Agent)
The custodian of funds held in the escrow fund and responsible for holding and managing the escrow fund, including any investments in the escrow fund, up to and including the date when the refunded bonds mature or redeemed, whichever is earlier.