Common use of 2Manner of Payment Clause in Contracts

2Manner of Payment. All payments of principal and interest on this Note shall be made by certified or bank cashier’s check at ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇., ▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇ or at such other place in the United States of America as Payee shall designate to Maker in writing, or by wire transfer of immediately available funds to an account designated by Payee in writing. If any payment of principal or interest on this Note is due on a day which is not a Business Day, such payment shall be due on the next succeeding Business Day. Such extension of time shall be taken into account in calculating the amount of interest payable under this Note. 1. 3Prepayment. Maker may, without premium or penalty, at any time and from time to time, prepay all or any portion of the outstanding principal balance due under this Note, provided that each such prepayment is accompanied by accrued interest on the amount of principal prepaid calculated to the date of such prepayment. In the event of any partial payment of principal outstanding on this Note, the prepayment shall be deemed to reduce the principal payments required to be made on the immediately following payment dates in consecutive succession.