Payments Before Maturity Date Clause Samples
The "Payments Before Maturity Date" clause defines the conditions under which payments can be made prior to the scheduled maturity date of an obligation or loan. Typically, this clause outlines whether early payments are permitted, if any penalties or fees apply, and how such payments affect the remaining balance or interest calculations. For example, it may allow a borrower to pay off a loan early without penalty, or it might specify that only certain types of payments are allowed before maturity. The core function of this clause is to provide flexibility for early repayment while clarifying the rights and obligations of both parties, thereby preventing disputes and ensuring transparency in financial arrangements.
Payments Before Maturity Date. Borrower shall make a payment to Lender (a) on the date hereof of the Stub Interest and (b) on the First Payment Date and on each Payment Date thereafter up to and including the Maturity Date, of the monthly Debt Service amount, which payments shall be applied first to accrued and unpaid interest and the balance to principal.
Payments Before Maturity Date. Borrower shall pay to Lender on the Payment Date occurring on October 1, 2010 and on each Payment Date thereafter up to but not including the Maturity Date, an amount equal to the Monthly Payment, which payments shall be applied first to accrued and unpaid interest for the prior Interest Period and the balance, if any, to the outstanding principal balance of the Loan.
Payments Before Maturity Date. Monthly installments of interest only, in arrears, shall be paid on each Payment Date commencing on December 1, 2007, and on each subsequent Payment Date thereafter to but not including the Maturity Date. Interest on the outstanding principal amount of the Loan to but not including October 31, 2007, shall be paid by Borrower on the Closing Date.
Payments Before Maturity Date. Borrower shall make a payment to Lender of interest only on the date hereof for the period from the Closing Date to and including June 30, 2001. Borrower shall make a payment to Lender in the amount of the Monthly Debt Service Payment Amount (as set forth on Schedule 2 attached hereto) on August 1, 2001 and on each Monthly Payment Date thereafter through but not including the Maturity Date. Provided no Event of Default shall have occurred, each such payment shall be applied first to interest in an amount equal to the interest that would have accrued on the outstanding principal balance of the Loan and the balance applied to the outstanding principal balance of the Loan. The Monthly Debt Service Payment Amount required hereunder is based upon a thirty (30) year amortization schedule.
Payments Before Maturity Date. On the Monthly Payment Date occurring in November, 2017 and on each Monthly Payment Date thereafter to and including the Maturity Date, Borrower shall make a payment to Agent for the ratable benefit of Lenders of interest accruing hereunder during the Interest Period immediately preceding such Monthly Payment Date.
Payments Before Maturity Date. Borrower shall make a payment to Agent, for the Ratable benefit of the Lenders, of interest only at the Applicable Interest Rate on the Effective Date for the initial Accrual Period. On the Payment Date occurring in January, 2024 and on each Payment Date thereafter to and including the Maturity Date Borrower shall make a payment to Agent, for the Ratable benefit of the Lenders, of interest only at the Applicable Interest Rate; each payment to be calculated in the manner set forth in this Section 2.03. In addition, (a) if Borrower at any time consummates the exercise of its remedies in connection with any Collaterally Assigned Loan and takes title to the applicable Mortgage Property or (b) upon the occurrence of any Resolution (whether with an unaffiliated third party or not), Borrower shall pay or cause to be paid to Agent, the outstanding Allocated Loan Amount for the related Collaterally Assigned Loan and all accrued and unpaid interest thereon and all other amounts due hereunder and under the Note and other Loan Documents with respect to such Collaterally Assigned Loan.
Payments Before Maturity Date. Borrower made a payment to Agent for the ratable benefit of Lenders of (i) interest only on the Closing Date for the initial Interest Period and (ii) on the Monthly Payment Date in October, 2017, of interest that accrued hereunder during the Interest Period immediately preceding such Monthly Payment Date. On the Monthly Payment Date occurring in November, 2017 and on each Monthly Payment Date thereafter to and including the Maturity Date, Borrower shall make a payment to Agent for the ratable benefit of Lenders of interest accruing hereunder during the Interest Period immediately preceding such Monthly Payment Date.
Payments Before Maturity Date. Borrower shall pay to Lender (a) on the Closing Date, an amount equal to interest only calculated at the Applicable Interest Rate on the outstanding principal balance of the Loan from the Closing Date up to and including October 10, 2004 and (b) on the Payment Date occurring in November, 2004 and on each Payment Date thereafter up to but not including the Maturity Date, an amount equal to the Debt Service Payment Amount, which payments shall be applied first to accrued and unpaid interest for the prior Interest Period and the balance, if any, to the outstanding principal balance of the Loan.
Payments Before Maturity Date. Borrower shall pay to Lender, on each Payment Date commencing with the Payment Date occurring in March, 2004 through and including the Payment Date occurring in February, 2006, interest accrued on the outstanding principal balance of the Loan for each Interest Period in an amount equal to the Monthly Interest Only Payment Amount and (c) on each Payment Date commencing on the Payment Date occurring in March, 2006 and on each Payment Date thereafter, Borrower shall make a payment to Lender of principal and interest in an amount equal to the Monthly Amortization Payment Amount, which payments shall be applied first to accrued and unpaid interest and the balance to principal in accordance with the Monthly Amortization Payment Schedule attached hereto as Schedule I.