Common use of Demand Facility Clause in Contracts

Demand Facility. Facility #2 is payable in full on demand by ▇▇▇▇▇▇, and Lender may terminate the availability thereof (including any undrawn portion) at any time without notice. - [include if blended payments] Notwithstanding the foregoing, until demand, Borrower shall make blended payments of [Cdn./U.S.] $________ per [month/quarter] on the last day of each [month/quarter] commencing ______________, 20___, to be applied at ▇▇▇▇▇▇'s option firstly to accrued interest and secondly to principal, with the balance of all amounts owing under Facility #2 being due and payable in full on the earlier of demand and ___________________. Payment amounts are, if necessary, subject to adjustment on notice to Borrower to ensure the original amortization period of ___ months is maintained. - [include if payments are principal only] Notwithstanding the foregoing, until demand, Borrower shall make principal payments of [Cdn./U.S.] $___________ per [month/quarter] on the last day of each [month/quarter] commencing _____________, 20___, with the balance of all amounts owing under Facility #2 being due and payable in full on the earlier of demand and ____________________________.