Common use of REPAYING EARLY Clause in Contracts

REPAYING EARLY. Variable business term loan 10.1 If you have a variable business term loan, you may repay early as much as you choose, at any time, without notifyingus in advance. You can do this by: a. paying one or more lump sums; or b. increasing the amount of your repayment. 10.2 Once you make an early repayment, you may only redrawany amount repaid early under the redraw provisions in clause 11 of this Part B. Fixed business term loan 10.3 If you have a fixed business term loan, to avoid incurring break costs you may only repay early: a. at the end of the fixed rate period; or b. any amount, provided that the extra repayments which are in addition to your elected repayments areless than the extra payment limit. If you repay early in any other circumstances break costs may apply (see clause 11 of Part A). 10.4 During a fixed rate period you may not redraw any amountrepaid early and clause 11 of this Part B does not apply during a fixed rate period. have allowed the final drawdown or such earlier date as we agree. 10.5 Upon: 9.3 You may only change your facility to a fixed business termloan if: a. we are offering the fixed rate period you request at the time of your request; and b. we agree at our absolute discretion to your request to change your facility type. 9.4 If we agree to change your facility type from a variable business 103892277.1 a. you switching your facility to a variable business termloan (in accordance with clause 9.8 of this Part B); or b. automatic conversion of your facility to a variable business term loan (in accordance with clause 6.8 ofthis Part B), you may, subject to clause 11.11 of this Part B, redraw anyamounts that you have repaid early. Effect of partial early repayment

REPAYING EARLY. Variable business term loan 10.1 9.1 If you have a variable business term loan, you may repay early as much as you choose, at any time, without notifyingus notifying us in advance. You can do this by: a. paying one or more lump sums; or b. increasing the amount of your repayment. 10.2 9.2 Once you make an early repayment, you may only redrawany redraw any amount repaid early under the redraw provisions in clause 11 10 of this Part B. Fixed business term loan 10.3 9.3 If you have a fixed business term loan, to avoid incurring break costs you may only repay early:incurring a. at the end of the fixed rate period; or b. any amount, provided that the extra repayments which are in addition to your elected repayments areless are less than the extra payment limit. If you repay early in any other circumstances break costs may apply (see clause 11 of Part A). 10.4 9.4 During a fixed rate period you may not redraw any amountrepaid amount repaid early and clause 11 10 of this Part B does not apply during a fixed rate period. have allowed the final drawdown or such earlier date as we agree. 10.5 . 9.5 Upon: 9.3 You may only change your facility to a fixed business termloan if: a. we are offering the fixed rate period you request at the time of your request; and b. we agree at our absolute discretion to your request to change your facility type. 9.4 If we agree to change your facility type from a variable business 103892277.1 a. you switching your facility to a variable business termloan term loan (in accordance with clause 9.8 8.8 of this Part B); or b. automatic conversion of your facility to a variable business term loan (in accordance with clause 6.8 ofthis of this Part B), you may, subject to clause 11.11 10.10 of this Part B, redraw anyamounts any amounts that you have repaid early. Effect of partial early repayment 9.6 If you repay part of a facility limit early, your repayment does not change, (unless we specifically agree to your request for a change) but it may mean you repay your business term loan quicker. 9.7 You must continue to make any reductions or special reductions on the reduction date or special reduction date (as appropriate), despite any payment made in accordance with this clause 9.