Completion of Equity Loan Promissory Notes. The Member authorizes the Association to insert the applicable date of execution, Due Date, principal amount and interest rate in any Equity Loan Promissory Note the Member signs in blank. Notwithstanding the date of execution set forth in an Equity Loan Promissory Note, the calculation of interest due on Equity Loans and Equity Loan Promissory Notes shall be adjusted so that it is calculated from the date the funds for the Equity Loan were advanced to the Association by the Association’s Lender, and if the funds for the Equity Loan are advanced in more than one draw, interest shall be calculated from the date of each draw.
Appears in 4 contracts
Samples: Feeder Association Member Agreement, Feeder Association Member Agreement, Feeder Association Member Agreement
