Common use of Change of Payment Date Clause in Contracts

Change of Payment Date. At any time prior to securitization of the Loan by Lxxxxx, Lender shall have the right to change the Payment Date to a date other than as set forth herein (such new date, the “New Payment Date”) on thirty (30) days of notice to Borrower, provided that any such change in the Payment Date: (a) shall not modify the amount of regularly scheduled monthly principal and interest payments, except that the first payment of principal and interest payable on the New Payment Date shall be accompanied by interest at the Applicable Interest Rate for the period from the Payment Date in the month in which the New Payment Date first occurs to the New Payment Date, and (b) shall extend the Maturity Date to the New Payment Date occurring in the calendar month set forth in the definition of Maturity Date.

Change of Payment Date. At any One (1) time prior to securitization of the Loan by LxxxxxLender, Lender shall have the right to change the Payment Date to a date other later than as set forth herein the sixth (such new date, 6th) day of each calendar month (the “New Payment Date”) on thirty (30) days of notice to Borrower; provided, provided however, that any such change in the Payment Date: (ai) shall not modify the amount of regularly scheduled monthly principal and interest payments, except that the first payment of principal and interest payable on the New Payment Date shall be accompanied by interest at the Applicable Interest Rate for the period from the Payment Date in the month in which the New Payment Date first occurs to the New Payment Date, Date and (bii) shall extend the Maturity Date to the New Payment Date occurring in the calendar month set forth in the definition of Maturity Date.

Change of Payment Date. At any time prior to securitization of the Loan by LxxxxxLender, Lender shall have the right to change the Payment Date to a date other than as set forth herein the Note (such new date, the “New Payment Date”) on thirty (30) days of notice to Borrower; provided, provided however, that any such change in the Payment Date: (ai) shall not modify the amount of regularly scheduled monthly principal and interest payments, except that the first payment of principal and interest payable on the New Payment Date shall be accompanied by interest at the Applicable Interest Rate for the period from the Payment Date in the month in which the New Payment Date first occurs to the New Payment Date, Date and (bii) shall extend the Maturity Date to the New Payment Date occurring in the calendar month set forth in the definition of Maturity Date.