interest on late payments

[Luis Miguel]

The ESOP loan and amortization schedule calls for payments to be made on March 1 and Sept 1 each year, but the company doesn't make a contribution (therefor the ESOP doesn't make a loan payment) until say April 1 and October 1. Its always the same payment but since its late more of the payment is going towards interest than principal. In the end that causes the ESOP to pay more in interest than originally determined under the original amortization schedule. I know in the normal business world you have interest accruing until a payment on a loan is made, but I thought ESOPs you couldn't make it pay more in interest than what was scheduled? I don't have anything to back that up so please enlighten me...