Commitment to Repay Clause Samples
The Commitment to Repay clause establishes the borrower's obligation to return borrowed funds to the lender according to agreed terms. Typically, this clause outlines the repayment schedule, including due dates, amounts, and acceptable payment methods, and may specify consequences for late or missed payments. Its core practical function is to ensure both parties have a clear understanding of repayment expectations, thereby reducing the risk of disputes and providing a legal basis for enforcing repayment.
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Commitment to Repay. Each applicant must sign a commitment to repay the amount paid during the student teaching leave of absence on a prorated basis in the event the employee fails to return to Unified School District 259 and perform assigned services, including a contract of employment for a period of two (2) years after return from student teaching leave of absence.