Common use of Optional Early Repayment Clause in Contracts

Optional Early Repayment. The Borrower may, subject to the Conditions to Repayment, at its option, having given not less than 5 calendar days' prior notice to the Lender in accordance with Clause 12 (which notice shall be irrevocable), on the Interest Payment Date falling 5 (five) years after the Utilisation Date and on each subsequent Interest Payment Date repay the Loan in full (but not in part) together with accrued interest.