Interest and Principal Components Clause Samples

The 'Interest and Principal Components' clause defines how payments made under an agreement are divided between repaying the original amount borrowed (the principal) and the cost of borrowing (the interest). Typically, this clause outlines the method for allocating each payment, such as specifying that a portion of each installment first covers accrued interest, with the remainder reducing the principal balance. By clearly distinguishing between interest and principal in payment schedules, this clause ensures transparency for both parties and helps prevent disputes over how much of the debt has been repaid versus how much remains outstanding.
Interest and Principal Components. A portion of each Rental Payment is paid as, and represents payment of, interest, and the balance of each Rental Payment is paid as, and represents payment of, principal as more fully detailed on the Payment Schedule.
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Interest and Principal Components. A portion of each Loan Payment is paid as, and represents payment of, interest, and the balance of, each Loan Payment is paid as, and represents payment of principal. Each Schedule hereto shall set forth the principal and interest components of each Loan Payment payable hereunder during the term of the loan.
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Interest and Principal Components. A portion of each Rental Payment payable hereunder is paid as, and represents payment of, interest, and the balance of the Rental Payment payable hereunder is paid as, and represents payment of, principal. Exhibit A hereto sets forth the interest component and the principal component of each Rental Payment during the Original Term and all Renewal Terms of the Lease.
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Interest and Principal Components. A portion of each Rental Payment is paid as, and represents payment of, interest which begins to accrue as of the Commencement
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Interest and Principal Components. A portion of each Rental Payment payable hereunder is paid as, and represents payment of, interest, and the balance of the Rental Payment payable hereunder is paid as, and represents payment of, principal. Exhibit A hereto sets forth the interest component and the principal component of each Rental Payment during the Original Term and all Renewal Terms of the Lease. So long as an Event of Default has occurred and is continuing, at the written election of the Lessor and/or its assignee to the City, as additional rentals, the City shall pay additional interest component during said Event of Default in the amount equal to 300 basis points (3%) of the outstanding principal component of Rentals Payments.
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Related to Interest and Principal Components

  • Interest and Late Charges If Tenant fails to pay when due any Rent or other amounts or charges which Tenant is obligated to pay under the terms of this Lease, the unpaid amounts shall bear interest at the maximum rate then allowed by law. Tenant acknowledges that the late payment of any Monthly Installment of Base Rent will cause Landlord to lose the use of that money and incur costs and expenses not contemplated under this Lease, including without limitation, administrative and collection costs and processing and accounting expenses, the exact amount of which is extremely difficult to ascertain. Therefore, in addition to interest, if any such installment is not received by Landlord within ten (10) days from the date it is due, Tenant shall pay Landlord a late charge equal to ten percent (10%) of such installment. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the loss suffered from such nonpayment by Tenant. Acceptance of any interest or late charge shall not constitute a waiver of Tenant's default with respect to such nonpayment by Tenant nor prevent Landlord from exercising any other rights or remedies available to Landlord under this Lease.