Fixed Loan Clause Samples

Fixed Loan. The Lender agrees to lend to the Borrower a term loan with a fixed rate of interest (the “Fixed Loan” or the “Loan”) of a sum of ( dollars ($() (the “Principal Amount”) for a term of ( (() years (the “Term”) beginning on ( (the “Interest Adjustment Date”) and ending on ( (the “Balance Due Date”). The Fixed Loan bears interest at the rate of ( percent ((%) per year (the “Interest Rate”), calculated semi-annually and not in advance. Interest accrues from the date of each advance, until the entire repayment of the Fixed Loan. Interest unpaid when due bears interest at the same rate. MATTERS RELATING TO PAYMENT