First Principal Payment Date definition
Examples of First Principal Payment Date in a sentence
Commencing on the First Principal Payment Date, as set forth in Section 2.1(b), said interest shall be payable on the principal payment installment due dates at the following rate per annum.
If there are no Advances made prior to the First Principal Payment Date, this Paragraph 5 sets forth the payment terms for all Advances pursuant to this Loan.
Interest on principal advanced before the First Principal Payment Date hereof pursuant to the Loan Contract and remaining unpaid shall be payable monthly on the last day of each month (the "Monthly Payment Date") beginning on the Monthly Payment Date following the month of each Advance of principal for a period ending on the First Principal Payment Date after the date hereof.
The first interest payment on an Advance made on or before the First Principal Payment Date from the date hereof shall be increased by the amount of interest accruing between the date of the Advance and the first day of the month following the month of the Advance.
The first payment on an Advance made after the First Principal Payment Date shall be increased by the amount of interest accruing between the date of the Advance and the first day of the month following the month of the Advance.