Common use of PREPAYMENT OF INTEREST FOR THE MONTH OF FUNDING Clause in Contracts

PREPAYMENT OF INTEREST FOR THE MONTH OF FUNDING. Unless the funding of the loan evidenced by this Note (together with all additional charges, advances and accruals, the “Loan”) occurs on the first day of a calendar month, the Borrower shall prepay, on the date of the funding, interest due from the date of the funding through and including the last day of the calendar month in which the funding occurs.