Examples of Interest Period Loan in a sentence
For any Amortizing Loan which is also an Additional Interest Period Loan, the applicable Mortgage Loan Seller(s), on behalf of the Depositor, instructed us to use “1” for the “Original Interest-Only Period (Mos.)” characteristic and “NAP” for the “Partial IO Last IO Payment” characteristic.
For any Amortizing Loan (except for any Amortizing Loan which is also an Additional Interest Period Loan (as defined herein), which are described in the succeeding paragraph(s) of this Item), the applicable Mortgage Loan Seller(s), on behalf of the Depositor, instructed us to use “0” for the “Original Interest-Only Period (Mos.)” characteristic and “NAP” for the “Partial IO Last IO Payment” characteristic.
Upon receipt of such notice, Loan Party Agent may revoke any pending request for a Borrowing of, conversion to or continuation of an Interest Period Loan or, failing that, will be deemed to have submitted a request for a Floating Rate Loan.
Any payment of an Interest Period Loan prior to the end of its Interest Period shall be accompanied by all amounts due under Section 3.9. Any prepayment of Loans by a Borrower shall be applied first to Floating Rate Loans of such Borrower and then to Interest Period Loans of such Borrower.
Use the “First Payment Date,” as shown on the Combined Data File, for any Amortizing Loan that is also an Additional Interest Period Loan.