Common use of Payments of Interest and Principal Clause in Contracts

Payments of Interest and Principal. The Borrowers shall make payments of interest and principal on the Note as follows: (i) The Borrowers shall make a payment to Lender of interest only on the Closing Date for the period from and including the Closing Date through and including the last day of the calendar month in which the Closing occurs; and (ii) Commencing on August 1, 2004 and on each Payment Date thereafter through but not including the Maturity Date, the Borrowers shall make a payment of interest on the Loan for the prior calendar month, and in addition shall make a payment of principal on the Loan in an amount equal to the Scheduled Mortgage Principal Payment for such Payment Date.

Payments of Interest and Principal. The Borrowers shall make payments of interest and principal on the Note as follows: (i) The Borrowers shall make a payment to Lender of interest only on the Closing Date for the period from and including the Closing Date through and including the last day of the calendar month in which the Closing occursfirst Interest Accrual Period; and (ii) Commencing on August 1, On each Payment Date commencing with the Payment Date in July 2004 and on each Payment Date thereafter through but not including the Maturity Date, the Borrowers shall make a payment of interest on the Loan for the prior calendar monthInterest Accrual Period corresponding to such Payment Date, and in addition shall make a payment of principal on the Loan in an amount equal to the Scheduled Mortgage Principal Payment for such Payment Date.

Payments of Interest and Principal. The Borrowers Borrower shall make payments of interest and principal on the Note as follows: (i) The Borrowers Borrower shall make a payment to Lender of interest only on the Closing Date for the period from and including the Closing Date through and including the last day of the calendar month in which the Closing occursfirst Interest Accrual Period; and (ii) Commencing on August 1On each Payment Date commencing with the Payment Date in July 2004, 2004 and on each Payment Date thereafter through but not including the Maturity Date, the Borrowers Borrower shall make a payment of interest on the Loan for the prior calendar monthInterest Accrual Period corresponding to such Payment Date, and in addition addition, shall make a payment of principal on the Loan in an amount equal to the Scheduled Mortgage Mezzanine Principal Payment for such Payment Date.