| 1. | The principal debt was invalid, and so, in turn, was the notarial bond.
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| 2. | Also, the initiation fee may never exceed fifteen per cent of the principal debt.
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| 3. | Similarly, a real security right will be terminated automatically when the principal debt is extinguished.
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| 4. | As a general rule, the surety is not liable if the principal debt cannot be enforced.
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| 5. | Such payments are used for unpaid interest and fees first, and then to reduce the principal debt.
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| 6. | It establishes the principal debt and is governed by the law of contract and the National Credit Act.
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| 7. | Under the plan signed Tuesday, Kenya's principal debt will be restructured into 10-year bonds, with a three-year grace period.
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| 8. | By 1877 the operation of the line was temporarily turned over to the principal debt holders until it returned to solvency.
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| 9. | Also unless otherwise agreed, a real security right secures not only the principal debt but all its incidents as well.
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| 10. | The country has already begun to reschedule principal debt repayments, as a way to help plug the hole in the 1998-99 budget deficit.
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