Required Payback Method Sample Clauses
The Required Payback Method clause defines the specific process or formula by which a borrower must repay a loan or financial obligation. Typically, this clause outlines whether payments are to be made in equal installments, as a lump sum, or according to a set schedule, and may specify the calculation of interest or principal reductions. By clearly establishing the repayment structure, this clause ensures both parties understand their financial commitments and helps prevent disputes over payment expectations.
Required Payback Method. [ ] c. Upon 5 consecutive 1-Year Breaks-in-Service.
Required Payback Method. [ ] b. Upon a 1-Year Break-in-Service.
(1) Optional Payback Method.
Required Payback Method. [ ] c. Upon 5 consecutive 1-Year Breaks-in-Service. - No payback of Forfeitures is allowed after 5-consecutive 1-Year Breaks-in- Service.