When does interest start on a seller standby note?

May 28, 2025
by a searcher from Utah State University - Jon M. Huntsman School of Business in St. Louis, Missouri, United States
I'm trying to get under contract on a manufacturing business, to make it work it'll require a sizable seller note to be on standby for 24 months. Does that mean interest starts accruing in 24 months or interest is accruing the whole time but payments start in 24 months? Thanks!
from Eastern Illinois University in 900 E Diehl Rd, Naperville, IL 60563, USA
from The Johns Hopkins University in Basking Ridge, NJ 07920, USA