Interest Will be Spread Clause Samples
The 'Interest Will be Spread' clause establishes that any interest accrued or owed will be distributed over a specified period or among certain parties, rather than being paid in a lump sum. In practice, this means that interest payments may be scheduled at regular intervals, such as monthly or quarterly, or allocated proportionally among multiple stakeholders. This approach helps to manage cash flow, ensures fairness in the allocation of interest, and prevents the financial burden of a large, single payment.
Interest Will be Spread. All sums paid or agreed to be paid to the Holder of this note for the use, forbearance or detention of the indebtedness evidenced hereby, to the extent permitted by applicable law and to the extent necessary to avoid violating applicable usury laws, shall be amortized, prorated, allocated and spread in equal parts throughout the full term of this note, so that the interest rate is uniform throughout the full term of this note.
Interest Will be Spread. To the extent (if any) necessary to avoid violation of applicable usury laws (or to minimize the extent of the violation if complete avoidance is impossible for any reason, it being the intent and purpose of Maker and all Holders to comply strictly with all applicable usury and other laws), all sums paid or agreed to be paid to Holder for the use, forbearance or detention of the indebtedness evidenced hereby shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread in equal parts throughout the full term of this note, so that the interest rate is uniform throughout the full term of this note.