Early Repayment Sample Clauses
The Early Repayment clause allows a borrower to pay back all or part of a loan before the scheduled due date. In practice, this clause outlines the conditions under which early repayment is permitted, such as whether any penalties or fees apply, and how interest is calculated on the outstanding balance. Its core function is to provide flexibility for borrowers who wish to reduce their debt ahead of schedule, while also protecting the lender’s financial interests by addressing potential lost interest or administrative costs.
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Early Repayment. The Borrower is entitled to repay the full outstanding balance on the Loan Facility account at any stage without any penalty on condition that he/she shall notify Mogo Auto at least thirty (30) days in advance of their intention. In case the loan is in USD and the repayment is done in KES, Mogo Auto will convert the outstanding amount to KES according to Foreign Exchange Rate.
Early Repayment. The Borrower may repay the unpaid balance due under this agreement in full at any time (full prepayment) on the following terms:
(a) Where this agreement is a consumer credit contract as defined by the Act, the Borrower shall pay a fee to compensate BMW for any loss resulting from full prepayment, together with BMW's administrative costs resulting from the full prepayment. The amount the Borrower will be required to pay BMW is set out in the formula prescribed in the Disclosure Statement (including daily interest charged on the unpaid balance until the prepayment amount is received by BMW); or
(b) In every other case, the Borrower shall pay a fee to compensate BMW for any loss resulting from full prepayment using the rule of 78 together with BMW's administrative costs resulting from the full prepayment; and
(c) the Borrower may not prepay only part of the unpaid balance.
Early Repayment. The borrower is entitled to repay the loan including accumulated interest in one lump sum at any time, including before the end of the term of the loan. A prepayment penalty shall not be due. The lender is entitled to recall the loan effective immediately, if the borrowers’ financial circumstances deteriorate considerably, thus putting the claim of repayment at risk.
Early Repayment. 3.1. You have the right to repay early, in full or in part, at any time.
3.2. If you decide to make an early repayment in part, this will usually have the effect of reducing the amount of the remaining monthly repayments but keeping the remaining term of the Agreement the same, but if you ask us, we may at our discretion reduce the amount of the remaining term but keep the monthly repayments the same. Either way, we will provide you with details of the new repayment schedule.
3.3. If you repay the Agreement early in full, you will have the right to end the Egg Plus Subscription Service Terms. Ending the Egg Plus Subscription Service Terms will result in the loss of certain enhanced functionality of the Equipment and the support and maintenance services.
Early Repayment. You may repay Your Loan in full at any time prior to the Expiry Date, provided Your next scheduled Payment Date is at least one full Business Day after the intended date of repayment.
Early Repayment. 10.1 You have a right to repay all or part of the credit early at any time. You must give us oral or written notice of your intention to make early repayment. If you wish to repay part of the amount due, you must make payment before the end of the period of 28 days beginning with the day following the day that we receive your notice, or on or before any later date specified in your notice. Please give us notice orally on our number below or in writing at the address above, giving details of this Credit Agreement.
10.2 If you partially repay the credit early, we will apply the early repayment evenly across your Instalments. This means that your Term will remain the same, but your monthly Instalments will decrease to smaller equal monthly Instalments with your final Instalment rounded up or down to the nearest whole ▇▇▇▇▇ accordingly.
Early Repayment. You have the right to repay this Loan early either in full or in part at any time provided you do so in accordance with the requirements in clause 5 of our Loan Terms & Conditions. In order to do so, you should email us at ▇▇▇▇@▇▇▇▇.▇▇ or call us on ▇▇▇▇ ▇▇▇ ▇▇▇▇.
Early Repayment. 8.1 Early Repayment as a result of a Withholding Tax Event If, as a result of any change in the laws of any Taxing Jurisdiction or of any political subdivision thereof or any authority or agency therein or thereof having power to tax or in the interpretation or administration of any such laws or regulations which becomes effective on or after the Utilisation Date the Borrower would be required to pay additional amounts as provided in Clause 10 (a "Withholding Tax Event"), the Borrower may, at its option, subject to the Conditions to Repayment, having given not less than 5 calendar days' prior notice to the Lender in accordance with Clause 12 (which notice shall be irrevocable) repay the Loan in full (but not in part), together with accrued interest (if any).
Early Repayment. 4.1 The Borrower on giving the Lender three months written notice may repay the entire Loan - the principal amount and all interest owing up to the date of actual repayment.
Early Repayment. If you pay the unpaid balance in full before the final payment is due (Early Repayment), you may be required to pay an amount to compensate us for any loss resulting from the Early Repayment. We may have suffered a loss if our current interest rate is lower than the interest rate applying to your Loan. You may also have to pay our administrative costs relating to the Early Repayment. The amount you will have to pay is calculated according to the statutory procedure out in the Credit Contracts and Consumer Finance Regulations 2004.