Examples of Stub Interest in a sentence
Maker shall have no right to prepay all or any part of this Note before the date that is twelve (12) calendar months from and after the first day immediately following the Stub Interest Period (the “Lockout Expiration Date”).
Borrower shall make a payment to Lender (a) on the date hereof of the Stub Interest and (b) on the First Payment Date and on each Payment Date thereafter up to and including the Maturity Date, of the monthly Debt Service amount, which payments shall be applied first to accrued and unpaid interest and the balance to principal.
On the Closing Date, Issuers paid an installment of interest in an amount equal to Stub Interest as provided in Section 2.1.2(vi).
The parties hereto acknowledge that, on the Closing Date, Borrower received the proceeds of the Loan in an aggregate principal amount equal to the Loan Amount, subject to payment from Loan proceeds of the Lender Expenses and subject to funding from Loan proceeds of Stub Interest (covering the period ending April 14, 2005), which have been escrowed with Lender, all in accordance with the provisions of this Agreement.
Notwithstanding the foregoing, Lender will waive the requirement of payment of the Stub Interest Payment on the Closing Date and the Borrowers hereby agree and covenant to pay the Stub Interest Payment on November 15, 2002.