Common use of Payment After Maturity Clause in Contracts

Payment After Maturity. Where there is default after the Balance Due Date or maturity date of the last renewal of any fixed term loan secured by the Charge, you may pay the outstanding principal amount of such loan only upon payment of three months interest calculated on the outstanding principal amount or three months written notice in lieu thereof and we may also recover such amount from the proceeds of any sale of the Property or other proceedings for enforecement of the Charge.

Appears in 5 contracts

Samples: Mortgage, Mortgage, Mortgage

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