Common use of Instalment Clause in Contracts

Instalment. You must pay the amount of each instalment on every instalment date, beginning on the first instalment date and ending on the last instalment date, all as shown in the mortgage. We'll apply each instalment as follows:  First, to pay or reduce any compound interest on the loan up to the instalment date.  Second, to pay other interest on the loan up to that date.  Third, to reduce the loan. If the mortgage goes into default, we don't have to apply an instalment as shown above. If we don't advance the full amount approved for the loan, you must still pay the full amount of each instalment, unless we agree otherwise.

Instalment. You must pay the amount of each instalment on every instalment date, beginning on the first instalment date and ending on the last instalment date, all as shown in the mortgage. We'll apply each instalment as follows:  • First, to pay or reduce any compound interest on the loan up to the instalment date.  • Second, to pay other interest on the loan up to that date.  • Third, to reduce the loan. If the mortgage goes into default, we don't have to apply an instalment as shown above. If we don't advance the full amount approved for the loan, you must still pay the full amount of each instalment, unless we agree otherwise.

Instalment. You must pay the amount of each instalment on every instalment date, beginning on the first instalment date and ending on the last instalment date, all as shown in the mortgagecommitment. We'll apply each instalment as follows:  • First, to pay or reduce any compound interest on the loan up to the instalment date.  • Second, to pay other interest on the loan up to that date.  • Third, to reduce the loan. If the mortgage contract goes into default, we don't have to apply an instalment as shown above. If we don't advance the full amount approved for the loan, you must still pay the full amount of each instalment, unless we agree otherwise.