Loan Redemption Sum Clause Samples
The Loan Redemption Sum clause defines the total amount a borrower must pay to fully settle and discharge a loan before its scheduled maturity. This sum typically includes the outstanding principal, accrued interest, and may also encompass any applicable fees or penalties for early repayment. By specifying the exact components and calculation method for the redemption amount, this clause ensures both parties understand the financial requirements for early loan closure, thereby preventing disputes and providing a clear process for loan settlement.
Loan Redemption Sum. The loan redemption sum of RM6,008,644.08 (“Loan Redemption Sum”) is to be paid by Sinergi Dayang to the Chargee. • Stamping cost to be borne by Sinergi Dayang. • Payments of the Differential Sum to be paid in accordance with the Settlement Agreement and the SPA shall be subject to the terms and conditions of the Settlement Agreement.