Level Amortization. Each loan shall be subject to substantially level amortization, with payments of principal and interest not less frequently than in equal monthly installments, over the term of the loan. A borrower may, however, prepay the entire balance of his loan in one single lump sum without the imposition of the prepayment penalty.
Appears in 5 contracts
Samples: Lsi Industries Inc, Lsi Industries Inc, Lsi Industries Inc