Common use of BASIS AND PAYMENT DATES Clause in Contracts

BASIS AND PAYMENT DATES. All interest accruing on the Note prior to ----------------------- maturity shall be due and payable on a annual basis on the last day of each year (commencing December 31, 1998) and at maturity (unless prepaid in whole prior to such date, then on the date of such prepayment in whole) and interest accruing after maturity shall be due and payable upon demand. All interest on the Note shall be computed on the basis of a year of 360 days.

Appears in 3 contracts

Samples: Loan and Security Agreement (West Essex Bancorp Inc), Loan and Security Agreement (West Essex Bancorp Inc), Loan and Security Agreement (Massachusetts Fincorp Inc)

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BASIS AND PAYMENT DATES. All interest accruing on the Note prior to ----------------------- maturity shall be due and payable on a annual quarterly basis on the last day of each March, June, September and December in each year (commencing December __________ 31, 19981999) and at maturity (unless prepaid in whole prior to such date, then on the date of such prepayment in whole) and interest accruing after maturity shall be due and payable upon demand. All interest on the Note shall be computed on the basis of a year of 360 365 days.

Appears in 2 contracts

Samples: Commitment Letter (First Bancorp of Indiana Inc), Commitment Letter (PFSB Bancorp Inc)

BASIS AND PAYMENT DATES. All interest accruing on the Note prior to ----------------------- ------------------------ maturity shall be due and payable on a annual quarterly basis on the last day of each March, June, September and December in each year (commencing December 31, 1998) and at maturity (unless prepaid in whole prior to such date, then on the date of such prepayment in whole) and interest accruing after maturity shall be due and payable upon demand. All interest on the Note shall be computed on the basis of a year of 360 days.

Appears in 1 contract

Samples: Commitment Letter (Virginia Capital Bancshares Inc)

BASIS AND PAYMENT DATES. All interest accruing on the Note prior to ----------------------- maturity shall be due and payable on a annual basis on the last day of each year (commencing December 31, 1998) and at maturity (unless prepaid in whole prior to such date, then on the date of such prepayment in whole) and interest accruing after maturity shall be due and payable upon demand. All interest on the Note shall be computed on the basis of a year of 360 days.

Appears in 1 contract

Samples: Leveraged Esop Commitment Letter (Security of Pennsylvania Financial Corp)

BASIS AND PAYMENT DATES. All interest accruing on the Note prior ----------------------- to ----------------------- maturity shall be due and payable on a annual basis on the last day of each year (commencing December 31, 1998____________) and at maturity (unless prepaid in whole prior to such date, then on the date of such prepayment in whole) and interest accruing after maturity shall be due and payable upon demand. All interest on the Note shall be computed on the basis of a year of 360 days.

Appears in 1 contract

Samples: Loan Agreement (First Lincoln Bancshares Inc)

BASIS AND PAYMENT DATES. All interest accruing on the Note prior to ----------------------- maturity shall be due and payable on a annual basis on the last day of each year (commencing December 31___________, 1998199__) and at maturity (unless prepaid in whole prior to such date, then on the date of such prepayment in whole) and interest accruing after maturity shall be due and payable upon demand. All interest on the Note shall be computed on the basis of a year of 360 days.

Appears in 1 contract

Samples: Funding Commitment Agreement (South Jersey Financial Corp Inc)

BASIS AND PAYMENT DATES. All interest accruing due on the Note prior to ----------------------- maturity shall be due and payable on a an annual basis on the last day of each year (commencing December 31___________, 1998____) and at maturity (unless prepaid in whole prior to such date, then on the date of such prepayment in whole) and interest accruing due after maturity shall be due and payable upon demand. All interest on the Note shall be computed on the basis of a year of 360 daysan annual basis.

Appears in 1 contract

Samples: Esop Funding Commitment (Woronoco Bancorp Inc)

BASIS AND PAYMENT DATES. All interest accruing on the Note prior to ----------------------- maturity shall be due and payable on a annual basis on the last day of each year (commencing December 31_________________, 1998) and at maturity (unless prepaid in whole prior to such date, then on the date of such prepayment in whole) and interest accruing after maturity shall be due and payable upon demand. All interest on the Note shall be computed on the basis of a year of 360 days.

Appears in 1 contract

Samples: Loan and Security Agreement (First Source Bancorp Inc)

BASIS AND PAYMENT DATES. All interest accruing on the Note prior to ----------------------- maturity shall be due and payable on a annual basis on the last day of each year (commencing December 31, 1998____________) and at maturity (unless prepaid in whole prior to such date, then on the date of such prepayment in whole) and interest accruing after maturity shall be due and payable upon demand. All interest on the Note shall be computed on the basis of a year of 360 days.of

Appears in 1 contract

Samples: Loan Agreement (Bay State Bancorp Inc)

BASIS AND PAYMENT DATES. All interest accruing on the Note prior to ----------------------- maturity shall be due and payable on a annual basis on the last day of each year (commencing December 31, 1998199__) and at maturity (unless prepaid in whole prior to such date, then on the date of such prepayment in whole) and interest accruing after maturity shall be due and payable upon demand. All interest on the Note shall be computed on the basis of a year of 360 days.

Appears in 1 contract

Samples: Commitment Letter (Virginia Capital Bancshares Inc)

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BASIS AND PAYMENT DATES. All interest accruing on the Note prior to ----------------------- maturity shall be due and payable on a annual basis on the last day of each year (commencing December 31_____________, 19981997) and at maturity (unless prepaid in whole prior to such date, then on the date of such prepayment in whole) and interest accruing after maturity shall be due and payable upon demand. All interest on the Note shall be computed on the basis of a year of 360 days.

Appears in 1 contract

Samples: Loan Agreement (Bayonne Bancshares Inc)

BASIS AND PAYMENT DATES. All interest accruing on the Note prior to ----------------------- maturity shall be due and payable on a annual basis on the last day of each year (commencing December 31, 1998____________) and at maturity (unless prepaid in whole prior to such date, then on the date of such prepayment in whole) and interest accruing after maturity shall be due and payable upon demand. All interest on the Note shall be computed on the basis of a year of 360 days.

Appears in 1 contract

Samples: Loan Agreement (Northeast Pennsylvania Financial Corp)

BASIS AND PAYMENT DATES. All interest accruing on the Note prior to ----------------------- maturity shall be due and payable on a an annual basis and on the last day of each December in each year (commencing December 31, 19981994) and at maturity (unless prepaid in whole prior to such date, then on the date of such prepayment in whole) and interest accruing after maturity shall be due and payable upon demand. All interest on the Note shall be computed on the basis of a year of 360 daysdays for the actual number of days elapsed.

Appears in 1 contract

Samples: Loan and Security Agreement (Astoria Financial Corp)

BASIS AND PAYMENT DATES. All interest accruing due on the Note prior to ----------------------- maturity shall be due and payable on a an annual basis on the last day of each year (commencing December 31____________, 1998200___) and at maturity (unless prepaid in whole prior to such date, then on the date of such prepayment in whole) and interest accruing due after maturity shall be due and payable upon demand. All interest on the Note shall be computed on the basis of a year of 360 daysan annual basis.

Appears in 1 contract

Samples: Esop Funding Commitment (Berkshire Hills Bancorp Inc)

BASIS AND PAYMENT DATES. All interest accruing on the Note prior ----------------------- to ----------------------- maturity shall be due and payable on a an annual basis on the last day of each year (commencing December 31, 1998______________) and at maturity (unless prepaid in whole prior to such date, then on the date of such prepayment in whole) and interest accruing after maturity shall be due and payable upon demand. All interest on the Note shall be computed on the basis of a year of 360 days.

Appears in 1 contract

Samples: Loan Agreement (Richmond Country Financial Corp)

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