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1. First in order of importance.
Our principal nutritional components are protein, carbohydrate, and fat.

2. The original amount of money lent or invested, as opposed to the interest charged on that money or income. (synonym: capital)
The average rate of return on my principal has remained above 10%.
A principal is a person or group of people who authorize an agent to act on their behalf. Principal and agent relationship is contractual and so each has rights and obligations to the other.
A principal is any person involved in a contract, such as a seller, buyer, principal broker, or an owner who has hired an agent as a property manager.
In American English, principal is the head of a school. In the UK, also head of a college or university is called a "principal" while it is called a "chancellor" in the US.
(A chancellor is the honorary head of a university in the UK)
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