Prepayment Permitted Clause Samples
The 'Prepayment Permitted' clause allows a borrower to repay all or part of a loan before its scheduled due date without facing penalties. In practice, this means the borrower can make extra payments or pay off the entire outstanding balance at any time, which can reduce the total interest paid over the life of the loan. This clause provides flexibility for borrowers and encourages early repayment, ultimately benefiting those who wish to minimize their debt obligations or take advantage of improved financial circumstances.
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Prepayment Permitted. Borrower has the right to prepay the Loan, in whole or in part, without premium or penalty, provided that Borrower must pay, together with any such prepayment, all accrued but unpaid interest upon the principal so prepaid. Amounts prepaid cannot be reborrowed.
Prepayment Permitted. Nothing contai▇▇▇ ▇n this Settlement Agreement shall prevent USHG and EGI from making payment to the Purchasers of the Obligations, as defined in the Note Purchase Agreement, including, without limitation, the Obligations under the Notes, prior to the Termination Date; provided, however, that the making of any such payment by USHG or EGI shall in no way alter or amend, in any manner whatsoever, the rights and benefits of the Golub Parties under this Settlement Agreement.
Prepayment Permitted. Borrower may prepay the Loan in whole or in part at any time without penalty. Early payments will not, unless agreed to by Lender, in writing, relieve Borrower of Borrower's obligation to continue to make payments of accrued unpaid interest. Rather, early payments will reduce the principal balance due. Borrower agrees not to send Lender payments marked "paid in full", "without recourse", or similar language. If Borrower sends such a payment, Lender may accept it without losing any of Lender's rights under this Agreement or the Note, and Borrower will remain obligated to pay any further amount owed to Lender. All written communications concerning disputed amounts, including any check or other payment instrument that indicates that the payment constitutes "payment in full" of the amount owed or that is tendered with other conditions or limitations or as full satisfaction of a disputed amount must be mailed or delivered to Central Bank & Trust 4▇▇▇ ▇. ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇, Attention: M▇▇▇ ▇▇▇▇, Senior Vice President.
Prepayment Permitted. This Note may be prepaid in whole or in part at any time without penalty. Except as otherwise required by law or by the provisions of this Note, payments received by Holder hereunder shall be applied first against expenses and indemnities, next against interest accrued on the Loan, and next in reduction of the outstanding principal balance of the Loan, except that during the continuance of any Event of Default, Holder may apply such payments in any order of priority determined by Holder in its exclusive judgment. Maker shall receive credit on payments after clearance.
Prepayment Permitted. The Borrower may repay the sums loaned pursuant to this Mortgage, in whole or in part, at any time without penalty.
Prepayment Permitted. Borrower may prepay the principal of the Note, in whole at any time, or in part from time to time, upon not less than two (2) business days' prior notice to DOC, and provided in the case of a partial payment, that such payment is in an amount of not less than Ten Thousand Dollars ($10,000). Any such prepayment shall be made without premium or penalty. Each prepayment shall be accompanied by the interest accrued on the principal amount so prepaid through the date of prepayment.
Prepayment Permitted. Principal and interest may be prepaid in whole or in part by Grantee without penalty or premium at any time.