Common use of Payments on the Note Clause in Contracts

Payments on the Note. All payments made on the Note shall -------------------- be made in the manner, and subject to the conditions, provided in this Agreement and the Note. The Note shall not be prepayable except as expressly provided for in this Section 3.1, Section 2.3 hereof, Section 2.6 hereof and Sections 4.4 and 7.10 of the Cash Management Procedures. In addition, on the Optional Prepayment Date and each Debt Service Payment Date thereafter, the Note may be prepaid, at the option of the Borrower, in full or in part, without penalty or premium.

Appears in 2 contracts

Sources: Loan Agreement (Fairfield Inn by Marriott LTD Partnership), Loan Agreement (Fairfield Inn by Marriott LTD Partnership)

Payments on the Note. All payments made on the Note -------------------- shall -------------------- be made in the manner, and subject to the conditions, provided in this Agreement and the Note. The Note shall not be prepayable except as expressly provided for in this Section 3.1, Section 2.3 hereof, Section 2.6 hereof and Sections 4.4 4.4(F) and 7.10 7.10(C) of the Cash Management Procedures. In addition, on the Optional Prepayment Date and each Debt Service Payment Date thereafter, the Note may be prepaid, at the option of the Borrower, in full or in part, without penalty or premium.

Appears in 1 contract

Sources: Loan Agreement (Marriott Residence Inn Ii Limited Partnership)