Partial Early Repayment Sample Clauses

The Partial Early Repayment clause allows a borrower to pay back a portion of the outstanding loan amount before the scheduled due date. Typically, this clause outlines the conditions under which such payments can be made, such as minimum repayment amounts, notice requirements, and whether any fees or penalties apply. Its core practical function is to provide borrowers with flexibility to reduce their debt burden ahead of schedule, potentially lowering interest costs, while also ensuring the lender is compensated for any administrative or financial impact of early repayment.
Partial Early Repayment. (a) You may at any time repay in part any amount you owe under the Agreement at that time. (b) In order to make partial early repayment you must notify us that you wish to make a partial early repayment and you must pay us the amount you wish to make as a partial early repayment (i) before the end of the period of 28 days beginning with the day following that on which we receive notice from you; or (ii) on or before any later date which you specify in your notice. (c) Your Balance will be reduced by the amount of the partial early repayment. If you make a partial early repayment before your First Repayment Date, we will reduce the amount of your monthly instalment payments and the Term will remain the same. If you make a partial early repayment, after your first Repayment Date and subject to our agreeing with you otherwise, we will not require you to make further monthly instalment payments (see REPAYMENT BY INSTALMENTS above) until such time as the accumulated total value of the monthly instalment payments that would otherwise be due is equal to the partial early repayment you have made. Thereafter, you will be required to continue to make your contractual monthly instalment payments in accordance with the REPAYMENT BY INSTALMENTS section above. We will confirm your next Repayment Date in your Monthly Statement. Interest will continue to accrue in accordance with the terms of this Agreement during any period during which no instalment payments are due. (d) Your partial early repayment will be applied as set out under ALLOCATION OF REPAYMENTS in the front section of this Agreement. Your subsequent Monthly Statement shall reflect your part payment. If you make a partial early repayment before your first Repayment Date, we will reduce the amount of your monthly instalment payments.
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Partial Early Repayment. If the Obligor makes a partial early repayment, unless the Obligor specifically requests to continue making early repayments thereafter, the Obligor shall repay pursuant to the schedule set forth in the foregoing Article, thereby advancing the last repayment date accordingly.
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Partial Early Repayment. You may at any time repay in part any amount you owe under the Agreement at that time to the bank account specified in writing by us as set out in clause 4.2. In order to make partial early repayment you must notify us that you wish to make a partial early repayment and you must pay us the amount you wish to make as a partial early repayment before the end of the period of 28 days beginning with the day following that on which we receive notice from you, or on or before any later date which you specify in your notice. Any partial repayment amount shall be applied to repaying (a) any fees and charges outstanding under this Agreement; (b) interest; and (c) the amount of Outstanding Principal Balance, and your subsequent Monthly Statement shall reflect any such part payment. Where you take the above steps, your indebtedness will be discharged by an amount equal to the sum of the amount paid and any rebate allowable under section 95 of the Consumer Credit Act 1974. A partial early repayment will result in the reduction of the amount of your monthly payments, but not the Term of this Agreement.
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Related to Partial Early Repayment

  • 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.

  • Loan Repayment Upon the terms and conditions of this Agreement, the Issuer agrees to make the Loan to the Company. The proceeds of the Loan shall be deposited with the Trustee pursuant to Section 3.3 hereof. In consideration of and in repayment of the Loan, the Company shall make, as Loan Payments, to the Trustee for the account of the Issuer, payments which correspond, as to time, and are equal in amount as of the Loan Payment Date, to the corresponding Bond Service Charges payable on the Bonds. All Loan Payments received by the Trustee shall be held and disbursed in accordance with the provisions of the Indenture and this Agreement for application to the payment of Bond Service Charges. The Company shall be entitled to a credit against the Loan Payments required to be made on any Loan Payment Date to the extent that the balance of the Bond Fund is then in excess of amounts required (a) for the payment of Bonds theretofore matured or theretofore called for redemption, or to be called for redemption pursuant to Section 6.1 hereof (b) for the payment of interest for which checks or drafts have been drawn and mailed by the Trustee or Paying Agent, and (c) to be deposited in the Bond Fund by the Indenture for use other than for the payment of Bond Service Charges due on that Loan Payment Date. Except for such interest of the Company as may hereafter arise pursuant to Section 8.2 hereof or Sections 5.06 or 5.07 of the Indenture, the Company and the Issuer each acknowledge that neither the Company, the State nor the Issuer has any interest in the Bond Fund or the Bond Purchase Fund, and any moneys deposited therein shall be in the custody of and held by the Trustee in trust for the benefit of the Holders.

  • Optional Repayment If so indicated in the Accumulation Fund Schedule, GLAIC shall pay to the Policyholder the amount the Policyholder needs to redeem or repay any notes or other instruments issued by the Policyholder and backed by this Policy, pursuant to any limited right of redemption or repayment contained in such note or instrument. GLAIC may require reasonable evidence that the redemption or repayment request satisfies all the terms and conditions described in the prospectus, prospectus supplement and/or pricing supplement applicable to such note or other instrument. Additional restrictions, if any, on the Policyholder’s reimbursement rights under this Section may be included in the Accumulation Fund Schedule.

  • Optional Repayments The Borrower may at any time and from time to time repay the Revolving Credit Loans, in whole or in part, upon at least three (3) Business Days' irrevocable notice to the Administrative Agent with respect to LIBOR Rate Loans and one (1) Business Day's irrevocable notice with respect to Base Rate Loans, in the form attached hereto as Exhibit D (a "Notice of Prepayment") specifying the date and amount of repayment and whether the repayment is of LIBOR Rate Loans, Base Rate Loans, or a combination thereof, and, if of a combination thereof, the amount allocable to each. Upon receipt of such notice, the Administrative Agent shall promptly notify each Lender. If any such notice is given, the amount specified in such notice shall be due and payable on the date set forth in such notice. Partial repayments shall be in an aggregate amount of $1,000,000 or a whole multiple of $250,000 in excess thereof with respect to Base Rate Loans and $5,000,000 or a whole multiple of $1,000,000 in excess thereof with respect to LIBOR Rate Loans.

  • Termination; Repayment The Revolving Line terminates on the Revolving Line Maturity Date, when the principal amount of all Advances, the unpaid interest thereon, and all other Obligations relating to the Revolving Line shall be immediately due and payable.