Common use of Interest and Principal Payments Clause in Contracts

Interest and Principal Payments. Interest on the outstanding principal balance of this Mortgage Note shall accrue at the rate of Seven and Eighty-One Hundredths (7.80%) percent per annum (the "Interest Rate") (in the event of an Event of Default, payment of an additional amount equal to interest at the Default Rate (as hereinafter defined) on the outstanding principal amount of this Mortgage Note shall also be due for each Interest Accrual Period during any part of which such Event of Default continues in accordance with the provisions of Paragraph 3 hereof). Interest at the Interest Rate shall be payable in monthly installments in arrears (each such monthly payment being an "Interest Installment") of $804,050.00 (except in the case of the Interest Installment due July 16, 1996, which shall be equal to $857,653.33) on or before 12:00 noon, Eastern Standard Time, on the fourth (4th) Business Day prior to the twentieth (20th) day of each calendar month or if such 20th day is not a Business Day, the next succeeding Business Day (each, a "Due Date") during the term hereof, commencing on July 16, 1996 until the Maturity Date (as hereinafter defined) or otherwise. Interest shall be computed on the basis of a 360-day year consisting of twelve (12) months of thirty (30) days each, and thirty (30) days' interest shall be paid on each Due Date and shall accrue from and including each Due Date to but not including the next succeeding Due Date, except with respect to the Due Date on July 16, 1996 on which thirty-two (32) days' interest shall be paid. The entire outstanding principal balance of this Mortgage Note, together with all accrued but unpaid interest hereon, shall be due and payable to Lender on the Due Date in June, 2003 (the "Maturity Date") or on such earlier date as may be required under the terms of this Mortgage Note. All payments hereunder shall be made by wire transfer of immediately available funds into an account designated by Lender (the "Collection Accounx") xx accordance with the Cash Collateral Agreement. In the event of any prepayment pursuant to the provisions of Paragraphs 4 or 5 hereof, the amount of the Interest Installment shall be adjusted to reflect such prepayment.

Interest and Principal Payments. Interest on the outstanding principal balance of this Mortgage Note shall accrue at the rate of Seven Eight and EightyNinety-One Six Hundredths (7.808.96%) percent per annum (the "Interest Rate") (in the event of an Event of Default, payment of an additional amount equal to interest at the Default Rate (as hereinafter defined) on the outstanding principal amount of this Mortgage Note shall also be due for each Interest Accrual Period during any part of which such Event of Default continues in accordance with the provisions of Paragraph 3 hereof). Interest at the Interest Rate shall be payable in equal monthly installments in arrears (each such monthly payment being an "Interest Installment") of $804,050.00 63,466.67 (except in the case of the Interest Installment due July 16, 1996, which shall be equal to $857,653.3367,697.78) on or before 12:00 noon, Eastern Standard Time, on the fourth (4th) Business Day prior to the twentieth (20th) day of each calendar month or if such 20th day is not a Business Day, the next succeeding Business Day (each, a the "Due Date") during the term hereof, commencing on July 16, 1996 until the Maturity Date (as hereinafter defined) or otherwise. Interest shall be computed on the basis of a 360-day year consisting of twelve (12) months of thirty (30) days each, and thirty (30) days' interest shall be paid on each Due Date and shall accrue from and including each Due Date to but not including the next succeeding Due Date, except with respect to the Due Date on July 16, 1996 on which thirty-two (32) days' interest shall be paid. The entire outstanding principal balance of this Mortgage Note, together with all accrued but unpaid interest hereon, shall be due and payable to Lender on the Due Date in June, 2003 (the "Maturity Date") or on such earlier date as may be required under the terms of this Mortgage Note. All payments hereunder shall be made by wire transfer of immediately available funds into an account designated by Lender Xxxxxx (the "Collection AccounxAccount") xx in accordance with the Cash Collateral Agreement. In the event of any prepayment pursuant to the provisions of Paragraphs 4 or 5 hereof, the amount of the Interest Installment shall be adjusted to reflect such prepayment.

Interest and Principal Payments. Interest Except as otherwise provided herein, interest on the outstanding principal balance of this Mortgage Note all Advances shall accrue at the Prime Rate, provided, that said interest rate shall not, in any event, be reduced to an interest rate that is less than 4.0% per annum. The interest rate shall be adjusted daily. Interest accrued on each Advance shall be paid to Lender in arrears on the first Business Day of Seven the month immediately succeeding the month during which any Advance is made by Lender and Eighty-One Hundredths (7.80%) percent per annum (on the "Interest Rate") (first day of each and every month thereafter until such Advance is paid in full. Deposit Advances shall be paid in full on the date of closing of the acquisition of the respective Property or on the date of closing of permanent financing for a Property, as applicable. With respect to Notes evidencing Deposit Advances that are not paid in full prior to the Termination Date, in the event that Borrower has not replaced this Facility with a facility provided by a different lender, or in the event that Lender has not renewed this Facility, Lender will extend the term of the Note evidencing such Deposit Advance for an Event additional term, provided, that such additional term shall, in any and all events, mature not later than six (6) months subsequent the Termination Date. Acquisition Advances shall be paid in full upon the earlier to occur of Default(i) closing of the permanent financing for the respective Property, or (ii) six (6) months from the date on which such Acquisition Advance is made by Lender, provided, in the event that said 6-month term expires subsequent to the Termination Date , the maturity date of such Note shall be that date which is six (6) months subsequent to the date of execution of such Note. With respect to Notes evidencing Acquisition Advances that mature subsequent to the Termination Date, in the event that Borrower has not replaced this Facility with a facility provided by a different lender, or in the event that Lender has not renewed this Facility, Lender will extend the term of the Note evidencing such Acquisition Advance for an additional term not exceeding 364 calendar days from the initial maturity date for such Acquisition Advance (i) at an interest rate not exceeding one percent (1.0%) greater than the Prime Rate, (ii) for a term not exceeding 364 calendar days from the initial maturity date of the Note executed in conjunction with such Acquisition Advance, and (iii) requiring payment of an additional amount principal and interest installments amortized over a term equal to interest at the Default Rate remaining term of the Property Lease pertaining to the Property with respect to which such Acquisition Advance was granted, provided, in the event that such Property Lease includes a provision that permits termination of such Property Lease on a date (as hereinafter defined“Early Termination Date”) on that precedes the outstanding principal amount scheduled maturity date of this Mortgage Note such Property Lease, such amortization term shall also be due for each Interest Accrual Period during reduced to a date that is coterminous with the Early Termination Date. Borrower or a Subsidiary may prepay all or any part of which such Event of Default continues in accordance with the provisions of Paragraph 3 hereof). Interest any Advance at the Interest Rate shall be payable in monthly installments in arrears any time upon ten (each such monthly payment being an "Interest Installment") of $804,050.00 (except in the case of the Interest Installment due July 16, 1996, which shall be equal to $857,653.33) on or before 12:00 noon, Eastern Standard Time, on the fourth (4th10) Business Day Days’ prior written notice to Lender. Each such notice shall specify the twentieth (20th) day of each calendar month or if such 20th day is not a Business Day, prepayment date and the next succeeding Business Day (each, a "Due Date") during the term hereof, commencing on July 16, 1996 until the Maturity Date (as hereinafter defined) or otherwise. Interest shall be computed on the basis of a 360-day year consisting of twelve (12) months of thirty (30) days each, and thirty (30) days' interest shall be paid on each Due Date and shall accrue from and including each Due Date to but not including the next succeeding Due Date, except with respect to the Due Date on July 16, 1996 on which thirty-two (32) days' interest shall be paid. The entire outstanding principal balance of this Mortgage Note, together with all accrued but unpaid interest hereon, shall be due and payable to Lender on the Due Date in June, 2003 (the "Maturity Date") or on such earlier date as may be required under the terms of this Mortgage Note. All payments hereunder shall be made by wire transfer of immediately available funds into an account designated by Lender (the "Collection Accounx") xx accordance with the Cash Collateral Agreement. In the event of any prepayment pursuant to the provisions of Paragraphs 4 or 5 hereof, the amount of the Interest Installment shall be adjusted to reflect such prepaymentAdvance being prepaid.

Interest and Principal Payments. Interest on the outstanding principal balance of this Mortgage Note shall accrue at the rate of Seven Eight and EightyThirty-Two One Hundredths (7.808.32%) percent per annum (the "Interest Rate") (in the event of an Event of Default, payment of an additional amount equal to interest at the Default Rate (as hereinafter defined) on the outstanding principal amount of this Mortgage Note shall also be due for each Interest Accrual Period during any part of which such Event of Default continues in accordance with the provisions of Paragraph 3 hereof). Interest at the Interest Rate shall be payable in equal monthly installments in arrears (each such monthly payment being an "Interest Installment") of $804,050.00 200,373.33 (except in the case of the Interest Installment due July 16, 1996, which shall be equal to $857,653.33213,731.56) on or before 12:00 noon, Eastern Standard Time, on the fourth (4th) Business Day prior to the twentieth (20th) day of each calendar month or if such 20th day is not a Business Day, the next succeeding Business Day (each, a the "Due Date") during the term hereof, commencing on July 16, 1996 until the Maturity Date (as hereinafter defined) or otherwise. Interest shall be computed on the basis of a 360-day year consisting of twelve (12) months of thirty (30) days each, and thirty (30) days' interest shall be paid on each Due Date and shall accrue from and including each Due Date to but not including the next succeeding Due Date, except with respect to the Due Date on July 16, 1996 on which thirty-two (32) days' interest shall be paid. The entire outstanding principal balance of this Mortgage Note, together with all accrued but unpaid interest hereon, shall be due and payable to Lender on the Due Date in June, June 2003 (the "Maturity Date") or on such earlier date as may be required under the terms of this Mortgage Note. All payments hereunder shall be made by wire transfer of immediately available funds into an account designated by Lender (the "Collection Accounx") xx accordance with the Cash Collateral Agreement. In the event of any prepayment pursuant to the provisions of Paragraphs Paragraph 4 or 5 hereof, the amount of the Interest Installment shall be adjusted to reflect such prepayment.

Interest and Principal Payments. Interest on the outstanding principal balance of this Mortgage Note shall accrue at the rate of Seven Eight and EightyTwo One-One Hundredths (7.808.02%) percent per annum (the "Interest Rate") (in the event of an Event of Default, payment of an additional amount equal to interest at the Default Rate (as hereinafter defined) on the outstanding principal amount of this Mortgage Note shall also be due for each Interest Accrual Period during any part of which such Event of Default continues in accordance with the provisions of Paragraph 3 hereof). Interest at the Interest Rate shall be payable in equal monthly installments in arrears (each such monthly payment being an "Interest Installment") of $804,050.00 137,676.67 (except in the case of the Interest Installment due July 16, 1996, which shall be equal to $857,653.33146,855.11) on or before 12:00 noon, Eastern Standard Time, on the fourth (4th) Business Day prior to the twentieth (20th) day of each calendar month or if such 20th day is not a Business Day, the next succeeding Business Day (each, a the "Due Date") during the term hereof, commencing on July 16, 1996 until the Maturity Date (as hereinafter defined) or otherwise. Interest shall be computed on the basis of a 360-day year consisting of twelve (12) months of thirty (30) days each, and thirty (30) days' interest shall be paid on each Due Date and shall accrue from and including each Due Date to but not including the next succeeding Due Date, except with respect to the Due Date on July 16, 1996 on which thirty-two (32) days' interest shall be paid. The entire outstanding principal balance of this Mortgage Note, together with all accrued but unpaid interest hereon, shall be due and payable to Lender on the Due Date in June, 2003 (the "Maturity Date") or on such earlier date as may be required under the terms of this Mortgage Note. All payments hereunder shall be made by wire transfer of immediately available funds into an account designated by Lender Lexxxx (the "Collection AccounxAccount") xx in accordance with the Cash Collateral Agreement. In the event of any prepayment pursuant to the provisions of Paragraphs 4 or 5 hereof, the amount of the Interest Installment shall be adjusted to reflect such prepayment.

Interest and Principal Payments. (a) Interest on the outstanding principal balance of this Mortgage Note shall accrue at the rate of Seven and Eighty-One Hundredths (7.80%) percent per annum (the "Interest Rate") (in the event of an Event of Default, payment of an additional amount equal to interest at the Default each Eurodollar Rate (as hereinafter defined) on the outstanding principal amount of this Mortgage Note shall also be due for each Interest Accrual Period during any part of which such Event of Default continues in accordance with the provisions of Paragraph 3 hereof). Interest at the Interest Rate shall be payable in monthly installments in arrears (each such monthly payment being an "Interest Installment") of $804,050.00 (except in the case of the Interest Installment due July 16, 1996, which shall be equal to $857,653.33) on or before 12:00 noon, Eastern Standard Time, on the fourth (4th) Business Day prior to the twentieth (20th) day of each calendar month or if such 20th day is not a Business Day, the next succeeding Business Day (each, a "Due Date") during the term hereof, commencing on July 16, 1996 until the Maturity Date (as hereinafter defined) or otherwise. Interest shall be computed on the basis of a 360-day year consisting of twelve (12) months of thirty (30) days each, and thirty (30) days' interest shall be paid on each Due Date and shall accrue from and including each Due Date to but not including the next succeeding Due Date, except with respect to the Due Date on July 16, 1996 on which thirty-two (32) days' interest shall be paid. The entire outstanding principal balance of this Mortgage Note, together with all accrued but unpaid interest hereon, Borrowing shall be due and payable to Lender as it accrues on the Due Date last day of its respective Interest Period and on the Termination Date, as applicable; PROVIDED THAT, with respect to Eurodollar Rate Borrowings having an Interest Period in Juneexcess of three (3) months, 2003 Borrower shall pay interest on the three month anniversary of the beginning of such Interest Period, on the expiration of each Interest Period, and on the Termination Date. Interest on each Base Rate Borrowing shall be due and payable as it accrues on each March 31, June 30, September 30, and December 31, and on the Termination Date. (b) (i) On any date of determination (i) if the "Maturity Date"Revolver Commitment Usage exceeds the Revolver Commitment, (ii) or on such earlier date as may be required under if the terms Swing Line Principal Debt exceeds the Swing Line Subfacility, or (iii) if the sum of this Mortgage Note. All payments hereunder shall be made by wire transfer of immediately available funds into an account designated by Lender the Revolver Principal Debt, together (the "Collection Accounx"without duplication) xx accordance with the Cash Collateral Agreement. In LC Exposure, exceeds the event Revolver Commitment, then Borrower shall make a mandatory prepayment of any prepayment pursuant to the provisions Revolver Principal Debt of Paragraphs 4 or 5 hereof, at least the amount of such excess, TOGETHER WITH (x) all accrued and unpaid interest on the Interest Installment principal amount so prepaid and (y) any Consequential Loss arising as a result thereof. All mandatory prepayments hereunder for the Revolver Facility shall be adjusted applied Pro Rata to reflect such prepaymenteach Lender's Committed Sum thereunder.