Common use of Repayment and Prepayment Clause in Contracts

Repayment and Prepayment. Interest on this Note shall be simple interest from the date of this Note on the unpaid principal balance at a rate equal to the Prime Rate published by the Wall Street Journal on January 1st of the applicable year, computed on the basis of the actual number of days elapsed and a year of 365 days. Accrued interest on this Note shall be payable annually to the Holder in immediately available funds commencing on the first anniversary of the Date of this Note, with the final payment due on the Maturity Date. 4 To be three years from the date the note is executed.

Repayment and Prepayment. Interest on this Note shall be simple interest from the date of this Note on the unpaid principal balance at a rate equal to the Prime Rate published by the The Wall Street Journal on January 1st of the applicable year, computed on the basis of the actual number of days elapsed and a year of 365 days. Accrued interest on this Note shall be payable annually to the Holder in immediately available funds on the anniversary Date of this Note, commencing on the first anniversary of the Date of this Note, with the final payment due on the Maturity Date. 4 To be three years from the date the note is executed.