Example ContractsClausesborrowing and repaymentVariants
Borrowing and Repayment
Borrowing and Repayment contract clause examples

Repayment. Growth Capital Advances shall be “interest-only” during the Interest-Only Period, with interest due and payable in accordance with [Section 2.3(d)] hereof. Thereafter, the Growth Capital Advances shall be payable in equal monthly installments of principal plus accrued and unpaid interest (each a “Growth Capital Advance Payment”) beginning on the Amortization Start Date and continuing on the first (1st) day of each month thereafter. Borrower’s final Growth Capital Advance Payment, due on the Growth Capital Maturity Date, shall include all outstanding principal and accrued and unpaid interest on the Growth Capital Advances. After repayment, no Growth Capital Advance may be reborrowed.

Interest-Only Period. For each Growth Capital Term Loan Advance, Borrower shall make monthly payments of accrued but unpaid interest only commencing on the first (1st) calendar day of the month immediately following the Funding Date of such Growth Capital Term Loan Advance and on the first (1st) calendar day of each month thereafter during the Interest-Only Period.

Principal and Interest Payments. Borrower shall make thirty (30) consecutive equal monthly installments of principal and accrued but unpaid interest with respect to the Growth Capital Term Loan Advances, commencing March 1, 2015 (the “Conversion Date”) and continuing on the first (1st) day of each month thereafter (each, a “Growth Capital Term Loan Payment”), which would fully amortize the outstanding Growth Capital Term Loan Advances, as of the Conversion Date, over the Repayment Period. All unpaid principal and accrued and unpaid interest is due and payable in full on the Growth Capital Term Loan Maturity Date.

Interest Payments. With respect to each Growth Capital Advance, commencing on the first Payment Date following the Funding Date of such Growth Capital Advance and continuing on the Payment Date of each month thereafter, Co-Borrowers shall make monthly payments of interest, in arrears, on the principal amount of such Growth Capital Advance at the rate set forth in Section 2.6(a).

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