Common use of Fixed Advances; Amortization Clause in Contracts

Fixed Advances; Amortization. The maturity date of any Fixed Advance shall be specified by Borrower for such Fixed Advance, provided that such maturity date shall be no earlier than the date that is the first day of the month following the date five (5) years after the Closing Date of such Fixed Advance, provided that no maturity date shall be after October 1, 2019. Fixed Advances shall be payable interest only and shall not require amortization.

Fixed Advances; Amortization. The maturity date of any Fixed Advance shall be specified by Borrower for such Fixed Advance, provided that such maturity date shall be no earlier than the date that is the first day of the month following the date five (5) years after the Closing Date of such Fixed Advance and no later than the date ten (10) years after the Closing Date of such Fixed Advance, provided that no maturity date shall be after October 1, 2019exceed the Fifteenth Anniversary. The initial Fixed Advance will require amortization calculated over the Amortization Period. Any Future Advances that are Fixed Advances shall may be payable interest only only, in Lender’s sole and shall not require amortizationabsolute discretion.

Fixed Advances; Amortization. The maturity date of any Fixed Advance shall be specified by Borrower for such Fixed Advance, provided that such maturity date shall be no earlier than the date that is the first day of the month following the date five (5) years after the Closing Date of such Fixed Advance and no later than the date ten (10) years after the Closing Date of such Fixed Advance, provided that no maturity date shall be after October 1, 2019exceed the Fifteenth Anniversary. The initial Fixed Advance will require amortization calculated over the Amortization Period. Any Future Advances that are Fixed Advances shall may be payable interest only and shall not require amortizationonly, as determined by Lender.