Common use of Manners of Payment of the Interest Clause in Contracts

Manners of Payment of the Interest. The interest accrued on the Borrowing shall be paid in the manners set forth in Item N/A below: (1) it is agreed hereunder that the 20th day of each [insert the applicable calendar month]/ [insert “the last month of each quarter”] shall be an interest settlement date (an Interest Settlement Date”), and the Borrower shall pay the Lender the accrued interest for the current Interest Period on the day immediately after the Interest Settlement Date; provided, however, that the interest for the last Interest Period shall be paid on the expiration date of the Tenor. (2) all the interest accrued on the Borrowing shall be paid in a lump-sum on the expiration date of the Tenor. (3) any alternative manners for the payment of the interest .