Common use of Payments after Anticipated Repayment Date Clause in Contracts

Payments after Anticipated Repayment Date. On each Payment Date after the Anticipated Repayment Date up to but not including the Maturity Date, in addition to the Monthly Debt Service Payment Amount, Borrower shall pay to Lender any Excess Cash Flow for the calendar month preceding such Payment Date. Each such payment of Excess Cash Flow, together with any remaining amount of the Monthly Debt Service Payment Amount paid on such date after the payment of interest on the outstanding principal balance of the Loan at the Interest Rate, shall be applied (i) first, to the prepayment of outstanding principal until the Loan has been paid in full, and (ii) next, to the payment of the difference, if any, between (y) the sum of (i) interest accrued and unpaid on the principal amount of the Loan at the Hyper-Am Rate and (ii) interest on such accrued and unpaid interest at the Hyper-Am Rate and (z) the interest paid at the Interest Rate on such Payment Date.

Payments after Anticipated Repayment Date. On each Payment Date after the Anticipated Repayment Date up to but not including the Maturity Date, in addition to the Monthly Debt Service Payment Amount, Borrower shall pay to Lender any Excess Cash Flow for the calendar month preceding such Payment Date. Each such payment of Excess Cash Flow, together with any remaining amount of the Monthly Debt Service Payment Amount paid on such date after the payment of interest on the outstanding principal balance of the Loan at the Interest Rate, if any, shall be applied (i) first, to the prepayment of outstanding principal until the Loan has been paid in full, and (ii) next, to the payment of the difference, if any, between (y) the sum of (i) interest accrued and unpaid on the principal amount of the Loan at the Hyper-Am Rate and (ii) interest on such accrued and unpaid interest at the Hyper-Am Rate and (z) the interest paid at the Interest Rate on such Payment Date. Interest accrued at the Hyper-Am Rate and not paid pursuant to the preceding sentence shall be added to the outstanding principal balance on the first day following such Payment Date and shall earn interest at the Hyper-Am Rate to the extent permitted by law (such accrued interest referred to as, “Accrued Interest”).