Interest Only Payments Clause Samples
The 'Interest Only Payments' clause defines a payment structure where the borrower is required to pay only the interest accrued on a loan for a specified period, without reducing the principal balance. During this interest-only period, monthly payments are lower since they do not include any portion of the principal, and the full principal amount remains outstanding until the end of the period or until regular amortizing payments begin. This clause is commonly used to provide borrowers with lower initial payments, often to improve cash flow or accommodate short-term financial needs, and it clarifies the payment obligations during the interest-only phase of a loan.
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Interest Only Payments. Borrower shall make monthly payments of interest-only commencing on the first (1st) Business Day of the first (1st) month following the month in which the Funding Date occurs with respect to the Second Supplemental Term Loan and continuing thereafter during the Second Supplemental Interest-Only Period, on the first (1st) Business Day of each successive month.
Interest Only Payments. For each Growth Capital Advance, Borrower shall make monthly payments of interest-only commencing on the first (1st) Business Day of the first (1st) month following the month in which the Funding Date occurs with respect to such Growth Capital Advance and continuing thereafter during the Interest-Only Period, on the first (1st) Business Day of each successive month.
Interest Only Payments. Subject to the terms of Section 1(b) below, on each Payment Date and on the Maturity Date, the Company shall pay to the Holder all interest accrued to date on the entire Principal Amount of this Note (“Interest Amount”), in either cash or in shares of Common Stock at the Company’s option, in accordance with this Section 1.
Interest Only Payments. Subject to and in accordance with the terms of this Section 2, on the earlier of the Maturity Date or the Early Repayment Date, the Company shall pay to the Holder all interest accrued and unpaid at that time on the entire outstanding Principal Amount of this Debenture (the “Interest Amount”) together with repayment of the entire outstanding Principal Amount of this Debenture in cash.
Interest Only Payments. Subject to and in accordance with the terms of this Section 2, on each Interest Payment Date the Company shall pay to the Holder all interest accrued and unpaid as of each such Interest Payment Date on the entire outstanding Principal Amount of this Debenture (the “Interest Amount”).
Interest Only Payments. During the period commencing on the first Payment Date of the month following the month in which the Funding Date in respect of an Acquisition Loan occurs through and including the Payment Date on August 1, 2010, Borrower shall make monthly payments of interest on each Payment Date, in arrears, in respect of each outstanding Acquisition Loan.
Interest Only Payments. Borrower shall make monthly payments of interest only commencing on the first Payment Date following the first Funding Date, and on each Payment Date thereafter prior to the Amortization Date. Borrower agrees to pay, on the first Payment Date for each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date after such Funding Date.
Interest Only Payments. Beginning with the month immediately after the Effective Date and continuing through the thirty-sixth (36th) month after the Effective date, Borrower shall on each January 31st and July 31st after the Initial Draw pay to Lender an amount equal to the Interest due under Section 2.2(c) for the six (6) months immediately preceding the month.
Interest Only Payments. For each Supplemental Equipment Advance, Borrower shall make monthly payments of interest-only commencing on the first (1st) Business Day of the first (1st) month following the month in which the Funding Date occurs with respect to such Supplemental Equipment Advance and continuing thereafter during the Interest-Only Period, on the first (1st) Business Day of each successive month.
Interest Only Payments. Purchaser has already paid a $15,000 interest payment for February 2024 and March 2024.