Common use of Principal and Interest Payments Clause in Contracts

Principal and Interest Payments. Borrower hereby agrees to continue to make equal monthly payments of principal and interest on the Prior Equipment Loan of Sixty Thousand Four Hundred Seventy Dollars and Eight-Two Cents ($60,470.82) commencing on the first (1st) calendar day of the first (1st) month after the Effective Date and continuing thereafter on the first (1st) calendar day of each successive month (each, a “Payment Date”). All unpaid principal and accrued and unpaid interest on the Prior Equipment Loan is due and payable in full on the Prior Equipment Maturity Date. The Prior Equipment Loan shall continue to accrue interest at a fixed per annum rate of five and one half of one percent (5.50%).

Principal and Interest Payments. Borrower hereby agrees to continue to make equal monthly payments of principal and interest on the Prior Equipment Loan of Sixty Twenty-Five Thousand Four Three Hundred Seventy Twenty-Eight Dollars and Eight-Two Eight Cents ($60,470.8225,328.08) commencing on the first (1st) calendar day of the first (1st) month after the Effective Date and continuing thereafter on the first (1st) calendar day of each successive month (each, a “Payment Date”)month. All unpaid principal and accrued and unpaid interest on the Prior Equipment Loan is due and payable in full on the Prior Equipment Maturity Date. The Prior Equipment Loan shall continue to accrue interest at a fixed per annum rate of five and one half of one percent (5.50%).

Principal and Interest Payments. Borrower hereby agrees to continue to make equal monthly payments of principal and interest on the Prior Supplemental Equipment Loan of Sixty Ninety-Four Thousand Four Eight Hundred Seventy Eighty-Two Dollars and Eight-Two Eighteen Cents ($60,470.8294,882.18) commencing on the first (1st) calendar day of the first (1st) month after the Effective Date and continuing thereafter on the first (1st) calendar day of each successive month (each, a “Payment Date”)month. All unpaid principal and accrued and unpaid interest on the Prior Supplemental Equipment Loan is due and payable in full on the Prior Supplemental Equipment Maturity Date. The Prior Supplemental Equipment Loan shall continue to accrue interest at a fixed per annum rate of five and one half of one three percent (5.503.00%).