Interest Accrual; Application of Payments. Interest will continue to accrue on the actual principal balance outstanding until the Principal Amount is paid in full. All installment payments (excluding voluntary prepayments of principal) will be applied as of the date each payment is received and processed. Payments may be applied in any order in the sole discretion of the Bank, but, prior to an Event of Default, may be applied chronologically (i.e., oldest invoice first) to unpaid amounts due and owing, in the following order: first to accrued interest, then to principal, then to Escrow, then to late charges and other fees, and then to all other Expenses.
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Samples: Credit Facility Agreement (Iec Electronics Corp), Replacement Term Note (Hardinge Inc), Term Note (Emerging Vision Inc)
Interest Accrual; Application of Payments. Interest will continue to accrue on the actual principal balance outstanding Outstanding Principal Amount until the earlier of the particular Loan is repaid or the Outstanding Principal Amount is paid in full. All installment payments (excluding voluntary prepayments of principal) will be applied as of the date each payment is received and processed. Payments may be applied in any order in the sole discretion of the Bank, but, prior to an Event of Defaultdemand for payment in full, may be applied chronologically (i.e., oldest invoice first) to unpaid amounts due and owing, in the following order: first to accrued interest, then to principal, then to Escrow, then to late charges and other fees, and then to all other Expenses.
Appears in 5 contracts
Samples: Mortgage Warehouse Loan and Security Agreement, Mortgage Warehouse Loan and Security Agreement (Centerline Holding Co), Mortgage Warehouse Loan and Security Agreement (Centerline Holding Co)
Interest Accrual; Application of Payments. Interest will continue to accrue on the actual principal balance outstanding Outstanding Principal Amount until the Outstanding Principal Amount is paid in full. All installment payments (excluding voluntary prepayments of principal) will be applied as of the date each payment is received and processed. Payments may be applied in any order in the sole discretion of the Bank, but, prior to an Event of Defaultdemand for payment in full, may be applied chronologically (i.e., oldest invoice first) to unpaid amounts due and owing, in the following order: first to accrued interest, then to principal, then to Escrow, then to late charges and other fees, and then to all alI other Expenses.
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Samples: www.sec.gov, Manning & Napier, Inc.
Interest Accrual; Application of Payments. Interest will continue to accrue on the actual principal balance outstanding Outstanding Principal Amount until the Outstanding Principal Amount is paid in full. All installment payments (excluding voluntary prepayments of principal) will be applied as of the date each payment is received and processed. Payments may be applied in any order in the sole discretion of the Bank, but, prior to an Event of Defaultdemand for payment in full, may be applied chronologically (i.e., oldest invoice first) to unpaid amounts due and owing, in the following order: first to accrued interest, then to principal, then to Escrow, then to late charges and other fees, and then to all other Expenses.
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