Fixed Rate Loan. Each Mortgage Loan bears interest at a rate that remains fixed throughout the remaining term of such Mortgage Loan, except in the case of an ARD Loan after its Anticipated Repayment Date and except for the imposition of a default rate.
Fixed Rate Loan. 8.1 If the Borrower requests the Lender may agree to a Fixed Rate Loan. The Lender will determine the Fixed Rate applicable to the Fixed Rate Loan. There may be more than one Fixed Rate Loan under a Margin Loan Facility at any time.
Fixed Rate Loan. Except with respect to the ARD Loans (as identified on the Mortgage Loan Schedule), which provide that the rate at which interest accrues thereon increases after the Anticipated Repayment Date, the Mortgage Loans (exclusive of any default interest, late charges or prepayment premiums) are fixed rate mortgage loans with terms to maturity, at origination or as of the most recent modification, as set forth on the Mortgage Loan Schedule.
Fixed Rate Loan. Subject to the provisions of Section 2.05(d), if the Loan is a Fixed Rate Loan, the Loan shall bear interest at the Fixed Rate.
Fixed Rate Loan. You promise to pay the Credit Union plus interest at the rate of % per year on the unpaid balance, according to the schedule in the Truth-In- Lending Disclosure on Page 1. Variable Rate Loan: You promise to pay the Credit Union plus interest on the unpaid principal balance at a variable rate. The initial rate is equal to the annual percentage rate shown on page 1. You agree to make payments in the amount shown as “amount of payments” on page 1 according to the schedule set forth under “when payments are due” on page 1 until the note is paid in full. We may report information about your account to credit bureaus. Late payments, missed payments, or other defaults on your account may be reflected in your credit report. The rest of the terms and conditions of the Note continue below. You also pledge your accounts in the Credit Union in accordance with the “Pledge of Savings” above. However, if payments on this loan are up-to-date, Borrower(s) can withdraw shares and/or deposits in excess of Cross-Collateral: Collateral pledged as security for other loans you have now or in the future with the Credit Union will also be security for this agreement. The security interest language contained in those loans, and specific description of property pledged as collateral are incorporated herein as if set out in full. In addition, all other loans that you have with the Credit Union are also secured with any collateral pledged to secure this loan. These cross-collateral provisions do not apply to your principal dwelling or household goods pledged as security for other loans. NOTE (Continued)
Fixed Rate Loan. An amortizing loan with remaining principal of $250,000 is fully prepaid with 24 months remaining until maturity. An Initial Prepayment Reference Rate of 9.0% was assigned to the loan when the loan was made. The Final Prepayment Reference Rate (as determined by the current 24-month U.S. Treasury rate on Page 119 of Telerate) is 7.5%. Rates therefore have dropped 1.5% since the loan was made and a prepayment fee applies. A prepayment fee factor of 1.3 is determined from Table 1 below and the prepayment fee is computed as follows: Prepayment Fee = (0.09-0.075) × (1.3) × ($250,000) = $4,875 PREPAYMENT FEE FACTOR SCHEDULE TABLE I: FULLY AMORTIZING LOANS Months Remaining To Maturity/Repricing1 Proportion of Remaining Principal Amount Being Prepaid 0 3 6 9 12 24 36 48 60 84 120 240 360 90-100% 0 .21 .36 .52 .67 1.3 1.9 2.5 3.1 4.3 5.9 10.3 13.1 60-89% 0 .24 .44 .63 .83 1.6 2.4 3.1 3.9 5.4 7.5 13.2 17.0 30-59% 0 .28 .53 .78 1.02 2.0 3.0 4.0 5.0 7.0 9.9 18.5 24,4 0-29% 0 .31 .63 .92 1.22 2.4 3.7 5.0 6.3 9.0 13.4 28.3 41.8 TABLE II: PARTIALLY AMORTIZING (BALLOON) LOANS Months Remaining To Maturity/Repricing1 Proportion of Remaining Principal Amount Being Prepaid 0 3 6 9 12 24 36 48 60 84 120 240 360 90-100% 0 .26 .49 .71 .94 1.8 2.7 3.4 4.2 5.6 7.4 11.6 14.0 60-89% 0 .30 .59 .86 1.15 2.2 3.3 4.3 5.3 7.1 9.4 15.0 18.1 30-59% 0 .31 .63 .95 1.27 2.6 3.9 5.3 6.6 9.1 12.6 21.2 26.2 0-29% 0 .31 .63 .95 1.27 2.6 4.0 5.4 7.0 10.2 15.7 33.4 46.0 TABLE III: NONAMORTIZING (INTEREST ONLY) LOANS Months Remaining To Maturity/Repricing1 Proportion of Remaining Principal Amount Being Prepaid 0 3 6 9 12 24 36 48 60 84 120 240 360 0-100% 0 .31 .61 .91 1.21 2.3 3.4 4.4 5.3 6.9 8.9 13.0 14.8 1 For the remaining period to maturity/repricing between any two maturities/repricings shown in the above schedules, interpolate between the corresponding factors to the closest month. The holder of this note is not required to actually reinvest the prepaid principal in any U.S. Government Treasury Obligations, or otherwise prove its actual loss, as a condition to receiving a prepayment fee as calculated above. QuickLinks
Fixed Rate Loan. From and after the second Payment Date prior to the Stated Maturity Date (the “Fixed Rate Loan Permitted Prepayment Date”), Borrower shall have the right to prepay the Fixed Rate Loan in whole (but not in part), provided that Borrower gives Lender at least fifteen (15) days’ prior written notice thereof. If any such prepayment is not made on a Payment Date, Borrower shall also pay interest that would have accrued on such prepaid Fixed Rate Principal to, but not including, the next Payment Date. Any such prepayment of the Fixed Rate Loan shall be made without payment of the Yield Maintenance Premium applicable to the Fixed Rate Loan.
Fixed Rate Loan. The Lender agrees to lend to the Borrower a term loan with a fixed rate of interest (the “
Fixed Rate Loan the loan being made on the date hereof from Lender to Borrower in the original principal amount of $35,300,000 (the “Fixed Rate Principal”), which Fixed Rate Loan is evidenced by the Fixed Rate Note.
Fixed Rate Loan. The Member may at any time reimburse the loan before maturity in part or in full, provided however that it pays to the Caisse a penalty equal to the greater of: • an amount equal to three months' interest on the amount prepaid, at the interest rate then applicable to the loan; or; • an amount equal to the interest calculated on the amount prepaid, until the loan term expiry date, at an interest rate corresponding to the difference between: (i) the interest rate then applicable to the loan and (ii) the rate of return of fixed-term Government of Canada bonds with a term of one year if, at the time of the payment, less than 24 months are left before the loan term expires, 2 years if from 24 to less than 36 months are left, 3 years if from 36 to less than 48 months are left, 4 years if from 48 to less than 60 months are left, 5 years if 60 months or over are left. The rates of return of the said bonds are those established, on the date of prepayment, by the Bloomberg pricing system or, failing that, by another system or entity chosen by the Fédération des caisses Xxxxxxxxxx du Québec. They are quoted on the Internet site of Desjardins Group. However, if the payment is made less than three months before the loan term expires, the penalty shall not exceed the interest at the rate then applicable to the loan, reckoned on the amount prepaid from the date of the prepayment to the loan term expiry date. ☐ variable rate loan: The Member may at any time reimburse the loan before maturity in part or in full, provided however that it pays to the Caisse a penalty equal to three months' interest on the amount prepaid, at the interest rate then applicable to the loan. However, if the payment is made less than three months before the loan term expires, the penalty shall not exceed the interest at the rate then applicable to the loan, reckoned on the amount prepaid from the date of the prepayment to the loan term expiry date.
