Common use of Fixed Rate Loan Clause in Contracts

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. Except with respect to the ARD Loans (as identified on the Mortgage Loan Schedule)Loans, which provide that the rate at which interest accrues thereon increases after the related 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 each Mortgage Loan Schedulebears interest at a rate that remains fixed throughout the remaining term of such Mortgage Loan, except for the imposition of a default rate.