Common use of Payment Before Anticipated Repayment Date Clause in Contracts

Payment Before Anticipated Repayment Date. Borrower shall pay to Lender (a) on the first Payment Date following the Closing Date, an amount equal to interest only on the outstanding principal balance of the Loan from the Closing Date up to but not including such Payment Date and (b) on each Payment Date thereafter up to but not including the Anticipated Repayment Date, an amount equal to the interest on the outstanding principal amount of the Loan for the prior calendar month, calculated as set forth herein, which payments shall be applied to accrued and unpaid interest at the Applicable Interest Rate.

Payment Before Anticipated Repayment Date. Borrower shall pay to Lender (a) on the first Payment Date following the Closing Date, an amount equal to interest only on the outstanding principal balance of the Loan from the Closing Date up to but not including such Payment Date and (b) on each Payment Date thereafter up to but not including the Anticipated Repayment Date, an amount equal to the interest on the outstanding principal amount of the Loan for the prior calendar month, calculated as set forth hereinMonthly Debt Service Payment Amount, which payments shall be applied first to accrued and unpaid interest at and the Applicable Interest Ratebalance to principal.