Interest Adjustment Date. The definition of the interest adjustment date is specified in the Agreements relating to any portion of the Indebtedness insured by a mortgage insurer, if applicable.
Interest Adjustment Date. The first term of the loan under the mortgage begins on a day called the interest adjustment date. The interest adjustment date has that name because we begin the term of the loan on the first day of the month, but we often make the loan or an advance before that day. For example, if we make the loan to you on April 16 and May 1 is the interest adjustment date, you must pay interest from April 16 to April 30 (15 days), and the term of the loan begins on May 1. If your loan has multiple advances, the interest adjustment date will be the first day of the month after the final advance.
Interest Adjustment Date. The definition of the interest adjustment date is specified in the Agreements relating to any portion of the Indebtedness insured by CMHC, if applicable.
Interest Adjustment Date. See Section 1.03.
Interest Adjustment Date. March 2014.
Interest Adjustment Date. Payment Date: the _________ day of each month in each year until the Balance Due Date.
Interest Adjustment Date. Interest shall accrue and be paid (i) on the Bid Loans in accordance with Section 2.01(A) and the Bid Loan Notes and (ii) on the Swing Loans in accordance with Section 2.01(C)(g) and the Swing Loan Notes.
Interest Adjustment Date. The interest adjustment date (the "Interest Adjustment Date") shall be the first day of the calendar month Immediately following the date of the first advance under the Loan, or at the Lender's option, the first day of the month in which the first advance of the Loan is made, unless the first advance of the Loan is made on the first day of 000 Xxxxxxxxxx Xxxxxx. Suite 700, North Tower . Toronto. Ontario Canada M5J 1V6 Tel. 000.000.0000 Fax. 000.000.0000 xxx.xxxxxxxxxxxxx.xx
Interest Adjustment Date. Payment Date: the _______ day of each month in each year until the Balance Due Date First Payment Date: ____________________ Last Payment Date:_____________________ Balance Due Date:______________________ Payment Amount:______________________ Calculation Period: Monthly, not in advance. – INTEREST Interest Rate The Interest Rate you promise to pay is set out in Section 2.4(1) above. The Interest Rate is the Prime Rate (as it changes from time to time) plus a premium, or minus a discount, as shown in Section 2.4(1) above. The Interest Rate is an adjustable rate that is adjusted automatically when the Prime Rate changes. We do not have to give you notice of any change in the Prime Rate. Interest is calculated not in advance, with the same frequency as the payment frequency shown in Section 2.4(3) above or another payment frequency that you select and is payable at that frequency. You promise to pay interest on the Outstanding Amount at the Interest Rate both before and after the Balance Due Date, Default and judgment, until the Outstanding Amount has been paid in full. Your Mortgage payments are fixed, but the Interest Rate changes when the Prime Rate changes. If the Prime Rate goes down, more of your payment goes to pay off the Principal Amount; if the Prime Rate goes up, less of your payment goes to pay off the Principal Amount. If you are not in Default and your payment is not enough to pay all accrued interest due on the payment date, we will automatically increase your next payment by a series of $2.00 amounts, until the payment covers all accrued interest since your last payment. We do this so that you will pay all the interest you owe us and the amount you owe us will not increase. When this happens it will take longer to pay out your Mortgage. Your payments will remain at the increased amount for the rest of the Term, unless we both agree to a new amount or your payment falls short again.
