Existing Loan Payments Sample Clauses

Existing Loan Payments. Any current payments of principal and interest, and any reserve amounts, due pursuant to the Existing Loan for the month in which the Closing occurs shall at the Closing, be apportioned between Owner and the Company as of 11:59 p.m. of the day immediately prior to the Closing Date. All other payment items with respect to the Existing Loan shall be brought current at the Closing by Owner.