Repayment of the Loan Clause Examples
The 'Repayment of the Loan' clause defines the borrower's obligation to pay back the principal amount of the loan, typically according to a specified schedule and with any applicable interest. This clause outlines the timing, method, and frequency of payments, such as monthly installments or a lump sum at maturity, and may detail acceptable payment methods or penalties for late payments. Its core function is to ensure both parties have a clear understanding of how and when the loan must be repaid, thereby reducing the risk of disputes and providing a framework for financial accountability.
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Repayment of the Loan. 4.1 The Parties confirm that before the expiration as in Section 4.2, the Borrowers shall repay the amount under this Agreement which equals to the consideration of equity interest transfer actually received by the Borrowers under the Ocean Transaction only when the Borrowers receive the consideration of equity interest from the Domestic Company; if the Domestic Company does not perform its obligations under the Ocean Transaction to pay the consideration of equity interest transfer due to any reasons that cannot be ascribed to the Borrowers, the Borrowers are not obligated to repay the Loan in this Agreement to the Lender before the expiration as in Section 4.2. Accordingly, (i) once the Domestic Company pays any or all the consideration of equity interest transfer to the Borrowers pursuant to the equity interest transfer agreement under the Ocean Transaction, the Borrowers shall transfer the aforementioned amount immediately upon reception to the bank account designated by the Lender to fulfil its obligation of repayment under this Agreement; or (ii) if the Domestic Company directly transfer any or all the consideration of equity interest transfer to the bank account designated by the Lender, it shall be deemed that the Borrowers have repaid the amount that equals to the consideration transferred. If any or all the consideration of equity interest transfer that received by the Borrowers or directly transferred to the bank account designated by the Lender is reduced by any taxes or fees (bank service charge included), the amount of the Loan shall be reduced accordingly by the amount of such taxes or fees.
4.2 Each party confirms that the longest borrowing period of any Loan under this Agreement will be twenty (20) years after the Effective Date; or the expiration of the business term of the Lender (including its expansion from time to time); or the expiration of the business term of the Domestic Company (including its expansion from time to time); the earliest one shall prevail (hereinafter referred to as the “Term of the Loan”). After execution of this agreement, the newly added Loan shall be counted from the date of actual payment, and the maximum time limit shall not exceed the expiry date of the aforementioned Term of the Loan. When Term of the Loan expires: if the applicable law allows the Lender to acquire the entire equities of the Domestic Company held by the Borrowers, the Borrowers have the right and obligation to directly reimburse all the Outst...
Repayment of the Loan. 4.1 The Lender may, at its own absolute discretion, at any time request that the Debt be discharged, in whole or in part, by the Borrowers, upon a 30-day prior repayment notice to the Borrowers (the “Repayment Notice”). The Lender may request that the Borrowers repay the Debt in whole or in part in the following methods pursuant to the preceding provision:
a) Repay the Debt in full by purchasing or designating a third party to purchase the corresponding equity interest held by the Borrowers in GDS Shanghai at such a price equivalent to the amount of the Debt requested to be discharged, provided that the ratio of the equity interest to be so purchased to the equity interest held by the Borrowers in GDS Shanghai shall be equivalent to the ratio of the Debt required to be discharged to the principal amount of the Loan borrowed by the Borrowers hereunder.; or
b) in other ways determined by resolutions passed by the board of directors of the Lender in accordance with its articles of association and the stipulations of applicable laws and regulations.
4.2 The Borrowers may at any time request to repay the Debt, in whole or in part, by servicing a 30-day prior repayment application (the “Repayment Application”) to the Lender. In such case, Borrower may discharge its Debt by transferring to the Lender the equity interest in GDS Shanghai in the amount equal to the Debt amount to be discharged by the Borrowers, or by the methods recognized by the Lender pursuant to the aforesaid Article 4.1, in whole or in part. In the former situation, the Lender shall have the right to purchase or to designate a third party to purchase part of the equity interest held by the Borrowers in GDS Shanghai at such a price equivalent to the amount of the Debt to be discharged by the Borrowers, provided that the ratio of the equity interest to be so purchased to the equity interest held by the Borrowers in GDS Shanghai shall be equivalent to that of the Debt required to be discharged to the principal amount of the Loan borrowed by the Borrowers hereunder.
4.3 Upon the expiration of the 30-day period set forth in the Repayment Notice or the Repayment Application, as the case may be, the Borrowers being requested or applied to repay the Debt shall discharge the Debt in accordance with the repayment method specified in the Repayment Notice, or by any other methods determined by a resolution passed by the board of directors of the Lender in accordance with its articles of association and the ...
Repayment of the Loan. 4.1. The Borrower shall repay the Loan in the order specified in the Payment Schedule. The Borrower shall commence the repayment of the Loan on the first Payment Date specified in the Payment Schedule and shall repay the Loan by periodic Payments in accordance with the Payment Schedule before the date of repayment of the Loan. The entire Loan must be repaid by the Loan repayment date.
4.2. The first instalment of the Borrower under the Loan Agreement must be made one month after the date of disbursement of the Loan amount to the Borrower. A detailed Payment Schedule of the Loan Repayment (s), Interest Payment and other periodic payments shall be provided as Annex 1 to the Special Terms and Conditions.
4.3. The Borrower undertakes to pay to the Lenders the amount of Interest provided for in the Special Terms and Conditions of the Loan Agreement for the use of the received Loan. The Parties hereby agree that for the purpose of calculating the Interest, the year shall be deemed to have 360 (three hundred and sixty) calendar days and the month shall have 30 (thirty) calendar days.
4.4. Payments supposed to be made by the Borrower logging in to their User Account on the Platform, selecting the "Active loans" section and clicking the "Pay" button. The Borrower may not make Payments in any other way.
4.5. The Operator shall distribute the Borrower's instalments (Payments) in the following order:
4.5.1. Monthly Administration Fee;
4.5.2. Interest;
4.5.3. Loan amount or part thereof, if according to the Payment Schedule it must be paid by Payment;
4.6. Liabilities of the Borrower who are in arrears (Payment) upon receipt of funds from FinoMark by the Borrower shall be included in the following order:
4.6.1. FinoMark's fines and other fees for the non-performance of the obligations of the Borrower;
4.6.2. Interest on Delay due to Lenders;
4.6.3. Monthly administration fee belonging to FinoMark;
4.6.4. Interest due to Lenders;
4.6.5. Loan amount, if according to the Payment schedule it must be paid by Payment;
4.6.6. In cases where the recovery of obligations has been transferred by force, the costs incurred by the Operator related to such recovery (stamp duty, notary, bailiff, lawyer, correspondence costs, etc.) shall be reimbursed in the first place.
4.7. The Borrower must repay the Loan at the request of the Operator (even if such request is made before the date of repayment of the Loan), as well as pay the due Interest and the Monthly Administration Fee if any of...
Repayment of the Loan. 4.1 The Borrower shall repay the principal amount of the Loan on the earlier of: (i) the date on which the Borrower consummates the Transaction or (ii) the date of that the winding up of the Borrower is effective (such date, the “Maturity Date”).
4.2 The Borrower may prepay the Loan, in whole or in part, at any time without penalty.
4.3 All payments made by the Borrower to the Lender under this Agreement shall be made in immediately available funds and shall be paid by transfer to such bank account of the Lender as the Lender shall notify to the Borrower in writing.
4.4 Under no circumstances shall any individual, including but not limited to any executive officer, director, employee or stockholder of the Borrower, be obligated personally for any obligations or liabilities of the Borrower hereunder.
Repayment of the Loan. The Borrower shall repay the entire outstanding principal amount of, and all accrued but unpaid interest on, the Loan on the Maturity Date (or such earlier date on which the Loan becomes due or is declared due in accordance with this Agreement).
Repayment of the Loan. The Borrower shall repay the Loan to the Lender in full together with the Interest Sum accrued on or before the Maturity Date.
Repayment of the Loan. The Borrower agrees to repay the EMIs/Monthly Instalments and the other Outstanding Dues to BHFL on or before the respective Due Dates by any of the repayment modes as set out in the Loan Agreement or the Top-Up Loan Addendum, or in such manner and at such place, as may be agreed between the Borrower and BHFL. • BHFL may, at the request of the Borrower in writing, agree to change the repayment mode. BHFL may, at any time, in its discretion revise the repayment schedule in its sole and absolute discretion and notify the Borrower in advance accordingly. • The EMI/Monthly Instalment amount shall be arrived at so as to comprise the repayment of the Loan Amount and payment of Interest calculated on the basis of the Interest Rate within the Loan Tenure. The Borrower agrees to continue paying EMIs/Monthly Instalments until all Outstanding Dues under the Loan have been repaid in full to BHFL.
Repayment of the Loan. The Borrower shall repay the outstanding principal amount of the Loan in full on the Maturity Date.
Repayment of the Loan. 7.1 Ku6 Technology may, at any time during the Loan Term by delivery of a repayment notice (the “Repayment Notice”) to Borrower thirty (30) days in advance, demand at its absolute discretion that the Borrower shall repay the Loan in whole or in part.
7.2 Upon expiry of the thirty (30) day period as set forth in the Repayment Notice, the Borrower shall repay the Loan in cash, or make such repayments in other forms as decided by the Board of Directors (or Executive Director) of Ku6 Technology by means of a Board (or Executive Director) resolution duly adopted in accordance with its Articles of Association and the applicable laws and regulations.
7.3 Without the prior written consent of Ku6 Technology, the Borrower shall not repay the loan in whole or in part to Ku6 Technology during the Loan Term.
Repayment of the Loan. 3.1 Both Parties hereby agree and confirm that the Borrower must and may only repay the loan in the manner as follows: when the loan hereof becomes due or any event under Article 2.2 of this Agreement occurs, the Borrower (or his/her successors, heirs or assigns) shall at the request of the written notice by the Lender, subject to the provisions of the laws of China, transfer all his/her shares in the Pictures Company to the Lender and/or its designated entities, and repay the loan hereunder by the proceeds received from the transfer.
3.2 The Borrower may not repay the loan in whole or in part without prior written consent of Party A.
3.3 Both Parties agree that the share transfer hereunder shall be deemed completed when the formalities for the change of shareholder with the relevant industry and administrative authorities are completed and the Lender or its designated entities have become the legal holders of the aforementioned target shares.