Example ContractsClausesprepaymentVariants
Prepayment
Prepayment contract clause examples

Prepayment. The Borrower shall have the option to prepay principal in whole or in part, plus all accrued interest without a prepayment charge, provided that a minimum of three (3) business days’ notice is given to the Lender, and provided that the Borrower shall be liable for any swap termination or adjustment costs. No amounts repaid or prepaid may be re-borrowed. All such prepayments shall be applied to accrued but unpaid interest before being applied to principal. Partial prepayments shall be applied against payments of the most remote maturity. Until the Loan is paid in full (principal and interest), no optional prepayment shall be credited to or relieve the Borrower to any extent from its obligation thereafter to pay any monthly installment of interest, any monthly installment of principal, any required payment, or any other payment required under the Loan.

Only if agreed by the Lender, the Borrower may prepay the whole or any part of the Loan outstanding by giving to the Lender not less than three (3) Business Days prior written notice and subject to payment of interest accrued thereon. Unless otherwise agreed, any prepayment of the Loan shall be in an amount of [[Unknown Identifier]] or multiples thereof.

Prepayment. The Loan and any interest accrued hereunder may be repaid fully or partially, at any time, without premium, penalty, or notice. All prepayment amounts received by the Lender shall be applied first to interest, and then to any unpaid principal balance.

Section # Voluntary Prepayment of Loan. Borrower may elect to prepay any all or any portion of any Loan time) at least three Business Days before the proposed date of such repayment, specifying a calculation of the principal, interest and prepayment premium due on such Loan(s). Any such prepayment of principal shall be without premium or penalty.

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