Examples of Fixed Rate Commencement Date in a sentence
Commencing on January 1, 2010, and continuing on the first day of each calendar month thereafter prior to, through and including, the Fixed Rate Commencement Date, interest only payments shall be due and payable monthly under this Note.
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In addition, if for any reason (other than Lender’s default), on the Fixed Rate Commencement Date, the stated face amount of this Note exceeds the then outstanding principal balance of the Note, Borrower shall, upon Xxxxxx’s demand, pay to Lender a Prepayment Fee equal to the Prepayment Fee which would be due and payable if Borrower had prepaid such excess amount on the day immediately following the Fixed Rate Commencement Date.
Fixed Rate Commencement Date: [ ]Actual/Actual to the period Fixed Interest Rate: from to .
Each Floating Interest Rate Notice must also state whether the floating interest rate is a "Regular Floating Rate," a "Floating Rate/Fixed Rate" or an "Inverse Floating Rate," the Fixed Rate Commencement Date, if applicable, the Interest Rate Basis or Bases, the Initial Interest Reset Date, the Interest Reset Period and Dates, the Interest Payment Period and Dates, the Index Maturity and the Maximum Interest Rate and/or Minimum Interest Rate, if any.