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. 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. 11.1. The Customer shall have the right to repay the Loan in full or a part thereof prematurely by making an early repayment application to the Lender by using Reproducible Communication Means.
11.2. In case of a full early repayment of the Loan, the Customer is obliged to pay the unpaid Loan Amount, the remaining Commission Fee and the accrued interests and other fees until the day of early repayment.
11.3. In case of early repayment of the Loan, the Lender is entitled to compensation for any costs directly related to the early repayment in the amount of 1 percent of the prepaid Loan, when the remaining period of the Single Loan Agreement is longer than one year and in the amount of 0.5 per cent of the prepaid Loan when the remaining period of the Single Loan Agreement is less than one year. In case the Lender has suffered a loss from the early repayment of the Loan exceeding the amount of the specified indemnity, the Lender may claim a larger indemnity in compliance with the legal requirements. The Customer does not owe compensation for early repayment of the Loan when it is terminated on the basis of a duly exercised right of withdrawal.
11.4. The Customer shall pay the fee for early repayment to the Lender on the day of early repayment of the Loan or a part thereof.
11.5. If the Customer has requested to repay the Loan early and has not repaid the Loan in the full amount, or a part of the Loan, as requested by the Customer, within the terms specified by the Lender, it shall be deemed that the Customer has waived the early repayment request.
11.6. In case the Customer makes repayments to the Lender which exceed the amounts due and has not informed the Lender by Reproducible Communication Means of the intention to fully or partially repay the Loan, it will not be considered as an early repayment and will be considered as a prepayment for the future obligations of the Customer (overpayment). The Lender reserves the right to settle these amounts with any and all claims that the Lender might have against the Customer arising from the Agreement(s) or approved requests of the Customer, considering that such claims are due.
11.7. The early repayment of the Loan may also be performed by approving a new Single Loan Agreement to the Customer by the Lender (“Refinancing Loan”). The Refinancing Loan can be approved only in case of full (not partial) repayment of existing obligations of the Customer. The Lender is not obliged to approve the Refinancing Loan applicat...
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.