Examples of Interest Adjustment Date in a sentence
On or before the Interest Adjustment Date, the Lender may withhold from any advance secured by the hypothecs created under this Contract or require the Borrower to pay, out of any advance of this Contract, any amount the Lender feels necessary to pay current or anticipated future Taxes.
Interest on all money advanced to the Borrower will be calculated daily at the Interest Rate on the date of each advance up to and including the day preceding the day of , 20 to be paid by the Borrower on the date last mentioned (the "Interest Adjustment Date").
Where the Charge secures a loan for a fixed term, you may, when not in default, on each anniversary of the Interest Adjustment Date prepay an amount not greater than 20% of the original Principal Amount of the fixed term loan.
If the final advance is not made within 12 months of the date of your application for the Mortgage, we will automatically set your Interest Adjustment Date to a date that is approximately 12 months from the date of your application for the Mortgage and the Term will start on that date.
If the Mortgage is a Closed Mortgage you may, once in each twelve month period starting on the Interest Adjustment Date or the anniversary of that date, pay up to 10% of the Principal Amount.