Principal
The face amount or par amount of a bond, not including interest, payable on its maturity date.
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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.
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Hundreds of Terms and Concepts
Security Interest
A special legal interest in property, fixtures or revenues that exists by contract as Security for payment or performance of an obligation.