Examples of Contractual Interest in a sentence
However, in no event will the total amount of interest on the Assessment, including statutory interest payable to Local Government and Contractual Interest payable to Lender under the Financing Documents, exceed the maximum amount or rate of nonusurious interest that may be contracted for, charged, or collected under Texas law (the “usury limit”).
The Assessment and Contractual Interest thereon are due and payable to Lender in installments (“Installments”), according to the payment schedule set forth in the Financing Documents attached hereto as Exhibit C.
If the total amount of interest payable to Local Government and Contractual Interest payable to Lender exceeds the usury limit, interest payable to Local Government will be reduced and any interest in excess of the usury limit will be credited to the amount payable to Local Government or refunded.
When the Assessment, Contractual Interest, any prepayment penalty, and any penalties, interest, fees, or costs due under or authorized by the PACE Act or the Financing Documents have been paid in full, Local Government’s rights under the Owner Contract will cease and terminate.
The Assessment and Contractual Interest thereon are due and payable to Lender in installments (“Installments”) according to the payment schedule set forth in the Financing Documents attached hereto as Exhibit B.