or an advance shall be irrevocable and binding on borrower.
e. disbursement of advances. advances made and effected by lender shall be disbursed by wire transfer in immediately available funds to the depository account set forth in exhibit e hereto, or such other account as borrower may designate from time to time by written notice to lender signed by a responsible officer.
2. term and termination. this agreement shall terminate upon the termination of the hosting agreement ("maturity date"); provided that all rights and remedies to which lender is entitled under this agreement and at law shall survive any such termination of the agreement until all amounts advanced or otherwise due lender under this agreement have been repaid or otherwise satisfied according to the terms of this agreement.
3. interest. the outstanding principal balance of the loan shall bear interest at the lowest appropriate applicable federal rate, as determined by aaa, when each promissory note (or the new note described in section 4) is issued. all computations of interest shall be based on a 360 day year for the actual number of days passed.
4. payment of principal and interest.
a. monthly payments. payment of principal and interest for each advance shall be made in immediately available funds, by 10:00 a.m., _________(placename) time, at such location designated by lender or the holder of the applicable promissory note, on the date each payment is due as provided in the promissory note. the payments of principal and interest shall be separately calculated for each advance and shall be payable in immediately available funds on the first business day of each month until paid in full. each installment payment shall be in an amount sufficient to cause the principal balance of each advance to be repaid within three years. notwithstanding the foregoing, any amounts accrued but not paid at the time of termination of this agreement shall be payable or otherwise satisfied in accord
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