Common use of Payments Before Stated Maturity Date Clause in Contracts

Payments Before Stated Maturity Date. Borrower shall make a payment to Lender of interest only on the Closing Date for the period from the Closing Date through and including the next succeeding fifth (5th) day of a calendar month, whether such fifth (5th) day shall occur in the calendar month in which the Closing Date occurs or in the month immediately succeeding the month in which the Closing Date occurs (unless the Closing Date is the sixth day of a calendar month, in which case no such separate payment of interest shall be due). Lender shall have the right from time to time, in its sole discretion, upon not less than thirty (30) days prior written notice to Borrower, to change the Monthly Payment Date to a different calendar day each month which is not more than five (5) days earlier nor more than ten (10) days later than the sixth (6th) day of each calendar month. If Lender elects to change the Monthly Payment Date to a calendar day that is earlier than the sixth (6th) day of each calendar month, Borrower shall have a grace period until the sixth (6th) day of each calendar month to make the Monthly Debt Service Payment (as hereinafter defined) to Lender. Each interest accrual period (the “Interest Period”) thereafter shall commence on the sixth (6th) day of each calendar month during the Term and shall end on and include the fifth (5th) day of the next occurring calendar month; provided, however, that if Lender shall have elected to change the Monthly Payment Date as aforesaid, Lender shall have the option, but not the obligation, to adjust the interest accrual period correspondingly. Commencing on the Monthly Payment Date occurring in June, 2013 and on each Monthly Payment Date thereafter throughout the Term, Borrower shall make a constant monthly payment of $38,599.97 to Lender (each such payment, a “Monthly Debt Service Payment”), which payments shall be applied first to accrued and unpaid interest and the balance to principal. All amounts due under this Agreement and the Note shall be payable without setoff, counterclaim or any other deduction whatsoever.

Payments Before Stated Maturity Date. Borrower shall make a payment to Lender of interest only on the Closing Date for the period from the Closing Date through and including the next succeeding fifth (5th) day of a calendar month, whether such fifth (5th) day shall occur in the calendar month in which the Closing Date occurs or in the month immediately succeeding the month in which the Closing Date occurs (unless the Closing Date is the sixth day of a calendar month, in which case no such separate payment of interest shall be due). Lender shall have the right from time to time, in its sole discretion, upon not less than thirty (30) days prior written notice to Borrower, to change the Monthly Payment Date to a different calendar day each month which is not more than five (5) days earlier nor more than ten (10) days later than the sixth (6th) day of each calendar month. If Lender elects to change the Monthly Payment Date to a calendar day that is earlier than the sixth (6th) day of each calendar month, Borrower shall have a grace period until the sixth (6th) day of each calendar month to make the Monthly Debt Service Payment (as hereinafter defined) to Lender. Each interest accrual period (the “Interest Period”) thereafter shall commence on the sixth (6th) day of each calendar month during the Term and shall end on and include the fifth (5th) day of the next occurring calendar month; provided, however, that if Lender shall have elected to change the Monthly Payment Date as aforesaid, Lender shall have the option, but not the obligation, to adjust the interest accrual period correspondingly. Commencing on the Monthly Payment Date occurring in JuneFebruary, 2013 2014 and on each Monthly Payment Date thereafter throughout the Term, Borrower shall make a constant monthly payment of $38,599.97 64,762.81 to Lender (each such payment, a “Monthly Debt Service Payment”), which payments shall be applied first to accrued and unpaid interest and the balance to principal. All amounts due under this Agreement and the Note shall be payable without setoff, counterclaim or any other deduction whatsoever.

Payments Before Stated Maturity Date. Borrower shall make a payment to Lender of interest only on the Closing Date for the period from the Closing Date through and including the next succeeding fifth thirtieth (5th30th) day of a calendar month, whether such fifth thirtieth (5th30th) day shall occur in the calendar month in which the Closing Date occurs or in the month immediately succeeding the month in which the Closing Date occurs (unless the Closing Date is the sixth day of a calendar month, in which case no such separate payment of interest shall be due). Lender shall have the right from time to time, in its sole discretion, upon not less than thirty (30) days prior written notice to Borrower, to change the Monthly Payment Date to a different calendar day each month which is not more than five (5) days earlier nor more than ten (10) days later than the sixth (6th) day of each calendar month. If Lender elects to change the Monthly Payment Date to a calendar day that is earlier than the sixth (6th) day of each calendar month, Borrower shall have a grace period until the sixth (6th) day of each calendar month to make the Monthly Debt Service Payment (as hereinafter defined) to Lenderoccurs. Each interest accrual period (the “Interest Period”) thereafter shall commence on the sixth first (6th1st) day of each calendar month during the Term and shall end on and include the fifth (5th) last calendar day of the next occurring same calendar month; provided, however, that if Lender shall have elected to change the Monthly Payment Date as aforesaid, Lender shall have the option, but not the obligation, to adjust the interest accrual period correspondingly. Commencing on the Monthly Payment Date occurring in Juneon January 1, 2013 and on each Monthly Payment Date thereafter throughout through the twelfth (12th) calendar month of the Term, Borrower shall make a constant the monthly payment of $38,599.97 set forth on Exhibit A to Lender (each such payment, a “Monthly Debt Service Payment”), which payments shall be applied first in accordance with the terms of the Cash Management Agreement. Commencing on the Monthly Payment Date occurring on December 1, 2013, and on each Monthly Payment Date thereafter through the remainder of the Term, the Monthly Debt Service Payment that Borrower shall make to accrued and unpaid Lender shall be an interest and only payment calculated on the balance Outstanding Principal Balance determined pursuant to principalSection 2.2.3 hereof, which payments shall be applied in accordance with the terms of the Cash Management Agreement. All amounts due under this Agreement and the Note shall be payable without setoff, counterclaim or any other deduction whatsoever.

Payments Before Stated Maturity Date. Borrower shall make a payment to Lender of interest only on the Closing Date for the period from the Closing Date through and including the next succeeding fifth (5th) day of a calendar month, whether such fifth (5th) day shall occur in the calendar month in which the Closing Date occurs or in the month immediately succeeding the month in which the Closing Date occurs (unless the Closing Date is the sixth day of a calendar month, in which case no such separate payment of interest shall be due). Lender shall have the right from time to time, in its sole discretion, upon not less than thirty (30) days prior written notice to Borrower, to change the Monthly Payment Date to a different calendar day each month which is not more than five (5) days earlier nor more than ten (10) days later than the sixth (6th) day of each calendar month. If Lender elects to change the Monthly Payment Date to a calendar day that is earlier than the sixth (6th) day of each calendar month, Borrower shall have a grace period until the sixth (6th) day of each calendar month to make the Monthly Debt Service Payment (as hereinafter defined) to Lender. Each interest accrual period (the “Interest Period”) thereafter shall commence on the sixth (6th) day of each calendar month during the Term and shall end on and include the fifth (5th) day of the next occurring calendar month; provided, however, that if Lender shall have elected to change the Monthly Payment Date as aforesaid, Lender shall have the option, but not the obligation, to adjust the interest accrual period correspondingly. Commencing on the Monthly Payment Date occurring in JuneDecember, 2013 2012 and on each Monthly Payment Date thereafter throughout the Term, Borrower shall make a constant monthly payment of $38,599.97 236,677.30 to Lender (each such payment, a “Monthly Debt Service Payment”), which payments shall be applied first to accrued and unpaid interest and the balance to principal. All amounts due under this Agreement and the Note shall be payable without setoff, counterclaim or any other deduction whatsoever.

Payments Before Stated Maturity Date. Borrower shall make a payment to Lender of interest only on the Closing Date for the period from the Closing Date through and including the next succeeding fifth (5th) day of a calendar month, whether such fifth (5th) day shall occur in the calendar month in which the Closing Date occurs or in the month immediately succeeding the month in which the Closing Date occurs (unless the Closing Date is the sixth day of a calendar month, in which case no such separate payment of interest shall be due). Lender shall have the right from time to time, in its sole discretion, upon not less than thirty (30) days prior written notice to Borrower, to change the Monthly Payment Date to a different calendar day each month which is not more than five (5) days earlier nor more than ten (10) days later than the sixth (6th) day of each calendar month. If Lender elects to change the Monthly Payment Date to a calendar day that is earlier than the sixth (6th) day of each calendar month, Borrower shall have a grace period until the sixth (6th) day of each calendar month to make the Monthly Debt Service Payment (as hereinafter defined) to Lender. Each interest accrual period (the “Interest Period”) thereafter shall commence on the sixth (6th) day of each calendar month during the Term and shall end on and include the fifth (5th) day of the next occurring calendar month; provided, however, that if Lender shall have elected to change the Monthly Payment Date as aforesaid, Lender shall have the option, but not the obligation, to adjust the interest accrual period correspondingly. Commencing on the Monthly Payment Date occurring in JuneMay, 2013 2014 and on each Monthly Payment Date thereafter throughout the Term, Borrower shall make a constant monthly payment of $38,599.97 73,166.99 to Lender (each such payment, a “Monthly Debt Service Payment”), which payments shall be applied first to accrued and unpaid interest and the balance to principal. All amounts due under this Agreement and the Note shall be payable without setoff, counterclaim or any other deduction whatsoever.