Early Repayment Sample Clauses
The Early Repayment clause allows a borrower to pay back all or part of a loan before the scheduled due date. In practice, this clause outlines the conditions under which early repayment is permitted, such as whether any penalties or fees apply, and how interest is calculated on the outstanding balance. Its core function is to provide flexibility for borrowers who wish to reduce their debt ahead of schedule, while also protecting the lender’s financial interests by addressing potential lost interest or administrative costs.
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Early Repayment. The Borrower is entitled to repay the full outstanding balance on the Loan Facility account at any stage without any penalty on condition that he/she shall notify Mogo Auto at least thirty (30) days in advance of their intention. In case the loan is in USD and the repayment is done in KES, Mogo Auto will convert the outstanding amount to KES according to Foreign Exchange Rate.
Early Repayment. The Borrower may repay the unpaid balance due under this agreement in full at any time (full prepayment) on the following terms:
(a) Where this agreement is a consumer credit contract as defined by the Act, the Borrower shall pay a fee to compensate BMW for any loss resulting from full prepayment, together with BMW's administrative costs resulting from the full prepayment. The amount the Borrower will be required to pay BMW is set out in the formula prescribed in the Disclosure Statement (including daily interest charged on the unpaid balance until the prepayment amount is received by BMW); or
(b) In every other case, the Borrower shall pay a fee to compensate BMW for any loss resulting from full prepayment using the rule of 78 together with BMW's administrative costs resulting from the full prepayment; and
(c) the Borrower may not prepay only part of the unpaid balance.
Early Repayment. The borrower is entitled to repay the loan including accumulated interest in one lump sum at any time, including before the end of the term of the loan. A prepayment penalty shall not be due. The lender is entitled to recall the loan effective immediately, if the borrowers’ financial circumstances deteriorate considerably, thus putting the claim of repayment at risk.
Early Repayment. 3.1. You have the right to repay early, in full or in part, at any time.
3.2. If you decide to make an early repayment in part, this will usually have the effect of reducing the amount of the remaining monthly repayments but keeping the remaining term of the Agreement the same, but if you ask us, we may at our discretion reduce the amount of the remaining term but keep the monthly repayments the same. Either way, we will provide you with details of the new repayment schedule.
3.3. If you repay the Agreement early in full, you will have the right to end the Egg Plus Subscription Service Terms. Ending the Egg Plus Subscription Service Terms will result in the loss of certain enhanced functionality of the Equipment and the support and maintenance services.
Early Repayment. You may repay Your Loan in full at any time prior to the Expiry Date, provided Your next scheduled Payment Date is at least one full Business Day after the intended date of repayment.
Early Repayment. Adjustment If you repay all or part of a Fixed Rate Advance before the end of the Fixed Rate Period you may have to pay an Early Repayment Adjustment, an administration fee of $300.00 and other applicable fees (if any). We will tell you about any other fees, when you tell us you wish to repay early. Change of Scheduled Repayment Date You can ask us to change the day on which your Scheduled Repayments are due ("Selected Day"). Your request must be in writing and be received by us not less than 5 Business Days before the next Scheduled Repayment is due. If we agree to your request, then: (a) your next Scheduled Repayment will be due on the Selected Day in the same calendar month unless the Selected Day has occurred, in which case it will be due on the Selected Day in the next calendar month ("New Payment Date"); (b) {all subsequent Scheduled Repayments will be due on the Selected Day of each succeeding calendar month.} {all subsequent Scheduled Repayments will be due on the Selected Day of the relevant calendar month in which a Scheduled Repayment is payable, being each {third}{sixth}{twelfth} month.}; and (c) your next Scheduled Repayment will be adjusted with any amount required to restore your Scheduled Repayments to the agreed amounts. This may include adjustments to principal and interest. We will notify you if any adjustment is made. Please note that we may not allow more than one change to the due date of any Scheduled Repayment during any Interest Period. Payment Account All payments of principal, interest and fees will be debited to your Nominated Account, or such other account acceptable to us. We may require a signed direct debit request form from you authorising us to debit your Nominated Account. Loan Maintenance Fee A loan maintenance fee of [Annualised Maintenance Fee Amount] per annum is payable in equal instalments with the Interest Payment. We will notify you of the loan maintenance fee payment details after the Drawdown Date . {This fee has been waived.} Special Conditions (i) The term of any Fixed Rate Loan Facility must not exceed 5 years. (ii) If, prior to the end of the Fixed Rate Period we have not agreed in writing on the terms of a new Loan Facility, then we may apply the Overdue Rate to the Outstanding Amount in accordance with clause A12 of the General Terms.
Early Repayment. You have the right to repay this Loan early either in full or in part at any time provided you do so in accordance with the requirements in clause 5 of our Loan Terms & Conditions. In order to do so, you should email us at ▇▇▇▇@▇▇▇▇.▇▇ or call us on ▇▇▇▇ ▇▇▇ ▇▇▇▇.
Early Repayment. 4.1 The Borrower on giving the Lender three months written notice may repay the entire Loan - the principal amount and all interest owing up to the date of actual repayment.
Early Repayment. If you pay the unpaid balance in full before the final payment is due (Early Repayment), you may be required to pay an amount to compensate us for any loss resulting from the Early Repayment. We may have suffered a loss if our current interest rate is lower than the interest rate applying to your Loan. You may also have to pay our administrative costs relating to the Early Repayment. The amount you will have to pay is calculated according to the statutory procedure out in the Credit Contracts and Consumer Finance Regulations 2004.
Early Repayment. 10.1 You have a right to repay all or part of the credit early at any time. You must give us oral or written notice of your intention to make early repayment. If you wish to repay part of the amount due, you must make payment before the end of the period of 28 days beginning with the day following the day that we receive your notice, or on or before any later date specified in your notice. Please give us notice orally on our number below or in writing at the address above, giving details of this Credit Agreement.
10.2 If you partially repay the credit early, we will apply the early repayment evenly across your Instalments. This means that your Term will remain the same, but your monthly Instalments will decrease to smaller equal monthly Instalments with your final Instalment rounded up or down to the nearest whole ▇▇▇▇▇ accordingly.