Term and Interest Sample Clauses
The 'Term and Interest' clause defines the duration of the agreement and outlines how interest will be calculated and applied to any outstanding amounts. Typically, this clause specifies the start and end dates of the contract or loan, and details the interest rate, compounding method, and payment intervals. By clearly establishing both the time frame and the financial obligations related to interest, this clause ensures both parties understand their commitments and helps prevent disputes over payment terms or interest calculations.
Term and Interest. The sub-account shall be maintained until terminated as provided below, and any interest earnings from the deposit shall be used for defraying administrative costs for the life of the sub-account.
Term and Interest. The date of maturity of the Note shall be six (6) months from the date of issuance, subject to prepayment as set forth in paragraph 2 hereof. The Note shall bear simple interest at the rate of eight percent (8%) per annum. As the funds are being delivered to the Company in two tranches of twenty-five thousand dollars ($25,000) each, interest will be calculated only on the money received by the Company during the period so that for the first month, interest will be based on the first twenty-five thousand dollar ($25,000) tranche and for the second month forward on the entire fifty thousand dollars ($50,000). The principal on the Note is payable on the maturity date, subject to prepayment as set forth in paragraph 2 hereof, and will be paid at the office of the Company, maintained for such purposes, to the registered holder of the Note on the books and records of the Company. Accrued interest on the Note will be payable at maturity of the Note, and will be paid at the office of the Company, maintained for such purposes, to the registered holder of the Note on the books and records of the Company.
Term and Interest. Program loans are deferred-payment, 30-year, zero (0%) interest loans. If it is determined that repayment of a CalHome loan at the maturity date causes a hardship to the homeowner, the Program Operator may opt to: Amend the Note and Deed of Trust to defer repayment of the amount due at maturity for up to 30 additional years (at 0% additional interest). This may be offered one time. Convert the debt at loan maturity to an amortized loan, repayable in 15 years at 0% additional interest. Borrowers must maintain the property in post-rehabilitation condition for the term of the loan. Should the property not be maintained in accordance with the Agreement, the loan shall be considered in default and will become due and payable. If necessary, foreclosure proceedings will be initiated. Once the loan application has been approved by the Hammers For Hope Board of Directors, the Program Operator will open escrow on the loan. At that point, the escrow officer will perform a preliminary title search to determine their ability to offer title insurance.
Term and Interest. All principal and accrued interest under the Notes shall be due and payable on August 17, 2020 (the “Maturity Date”). The Notes shall bear interest at a rate equal to zero 0% per annum payable on the Maturity Date. On the Maturity Date. The company has agreed to issue 25,000 shares as inducement to extend the loan. [REMAINDER OF THE PAGE INTENTIONALLY LEFT BLANK]
Term and Interest. Under Paragraph (5) entitled “Term and Interest”, please delete the first sentence and insert, “Subject to the terms hereof; this agreement shall remain in full force and effect for a term of two (2) years from the date Saba commences operations hereunder or until such time as Saba has expended the total sum of ten million dollars ($10,000,000) whichever first occurs.”
Term and Interest. The term and interest for any advance shall be as specified in the applicable Equipment Schedule and in accordance with the Approval Letter.
Term and Interest