Common use of Line of Credit without Monthly Payments Clause in Contracts

Line of Credit without Monthly Payments. 2.6.1. Borrower can request Loan Advances under a line of credit payment plan in amounts and at times determined by Xxxxxxxx, if the Principal Balance of the loan after the Loan Advance is made is less than or equal to the applicable Principal Limit, excluding any portion of the Principal Limit set aside under Sections 2.3.2. or 2.3.4. 2.6.2. Line of credit payments shall be paid to Borrower within five business days after Xxxxxx has received a written request for payment by Xxxxxxxx. 2.6.3. Lender may specify a form for line of credit payment requests. 2.6.4. Lender shall provide Borrower with a statement of the account every time a line of credit payment is made. The statement shall include the current interest rate, the previous Principal Balance, the amount of the current Loan Advance, the current Principal Balance after the Loan Advance, and the current Principal Limit.

Line of Credit without Monthly Payments. 2.6.1. Borrower can request Loan Advances under a line of credit payment plan in amounts and at times determined by Xxxxxxxxthe Borrower, if the Principal Balance of the loan after the Loan Advance is made is less than or equal to the applicable Principal Limit, excluding any portion of the Principal Limit set aside under Sections 2.3.2. or 2.3.4Section 2.3. 2.6.2. Line of credit payments shall be paid to Borrower within five business days after Xxxxxx the mortgagee has received a written request for payment by Xxxxxxxx. 2.6.3. Lender may specify a form for line of credit payment requests. 2.6.4. Lender shall provide Borrower with a statement of the account every time a line of credit payment is made. The statement shall include the current interest rate, the previous Principal Balanceprincipal balance, 4330.1 REV-5 APPENDIX 68 the amount of the current Loan Advance, the current Principal Balance principal balance after the Loan Advance, and the current Principal Limit.

Line of Credit without Monthly Payments. 2.6.1. Borrower can request Loan Advances under a line of credit payment plan in amounts and at times determined by XxxxxxxxBorrower, if the Principal Balance of the loan after the Loan Advance is made is less than or equal to the applicable Principal Limit, excluding any portion of the Principal Limit set aside under Sections 2.3.2. or 2.3.4. 2.6.2. Line of credit payments shall be paid to Borrower within five business days after Xxxxxx Lender has received a written request for payment by XxxxxxxxBorrower. 2.6.3. Lender may specify a form for line of credit payment requests. 2.6.4. Lender shall provide Borrower with a statement of the account every time a line of credit payment is made. The statement shall include the current interest rate, the previous Principal Balance, the amount of the current Loan Advance, the current Principal Balance after the Loan Advance, and the current Principal Limit.