Payments on the Loans. The interest rate on the loans will be as set forth in the Note. Interest on the loans (including from and after the occurrence and during the continuance of an Event of Default) will be computed in accordance with the terms of the Note, and Principal and Interest will be due and payable on the dates and in the amounts as set forth in the Note.
Payments on the Loans. A. Obligors shall make one (1) lump-sum payment per month in the amount of Sixty Thousand Dollars ($60,000.00) on the Priority Loans, with the first payment being due February 25, 2003 and like payments due on the 25th day of March, April, May and June, 2003 ("Monthly Payments"), and with a final payment due July 25, 2003 as described in paragraph 2 above. The Bank will apply the Monthly Payments first to accrued and unpaid interest then to principal, and will apply the Monthly Payments to the Priority Loans in the priority and proportion as determined by the Bank in its sole discretion.
Payments on the Loans
