Interest on the Notes. Interest shall accrue at the rate specified in the Notes. The Bank may, at its option, calculate and charge interest as though each payment is made on the payment due date with principal reductions effective as of the date of receipt.
Appears in 2 contracts
Samples: Loan Agreement (Bowlin Outdoor Advertising & Travel Centers Inc), Loan Agreement (Bowlin Outdoor Advertising & Travel Centers Inc)
Interest on the Notes. Interest shall accrue at the rate specified in the NotesNote. The Bank may, at its option, calculate and charge interest as though each payment is made on the payment due date with principal reductions effective as of the date of receipt.
Appears in 2 contracts
Samples: Master Loan Agreement (Amrep Corp), Master Loan Agreement (Amrep Corp)