Common use of Interest, Term and Amortization Clause in Contracts

Interest, Term and Amortization. Each Home Loan is a fixed rate loan; the Debt Instrument shall mature within not more than 25 years from the date of origination of the Home Loan; the Debt Instrument is payable in substantially equal Monthly Payments, with interest payable in arrears, and requires a Monthly Payment which is sufficient to fully amortize the original principal balance over the original term and to pay interest at the related Home Loan Interest Rate; interest on each Home Loan is calculated on the basis of a 360-day year consisting of twelve 30-day months, and the Debt Instrument does not provide for any extension of the original term;

Interest, Term and Amortization. Each Home Loan is a fixed rate loan; the Debt Instrument shall mature within not more than 25 years from the date of origination of the Home Loan; the Debt Instrument is payable in substantially equal Monthly Payments, with interest payable in arrears, and requires a Monthly Payment which is sufficient to fully amortize the original principal balance over the original term and to pay interest at the related Home Loan Interest Rate; interest on each Home Loan is calculated on the basis of a 360-day year consisting of twelve 30-day months, and the Debt Instrument does not provide for any extension of the original term;.

Interest, Term and Amortization. Each Home Loan is a fixed rate loan; the Debt Instrument shall mature within not more than 25 30 years from the date of origination of the Home Loan; the Debt Instrument is payable in substantially equal Monthly Payments, with interest payable in arrears, and (except as set forth on Exhibit D hereto) requires a Monthly Payment which is sufficient to fully amortize the original principal balance over the original term and to pay interest at the related Home Loan Interest Rate; interest on each Home Loan is calculated on the basis of a 360-day year consisting of twelve 30-day months, and the Debt Instrument does not provide for any extension of the original term;.