Common use of Lump Sum Clause in Contracts

Lump Sum. The third option available through Section V requires that the entire loaned amount as well as any interest charged will be paid in full to the Lender in one “Lump Sum.” This statement will also consider the “Due Date” named in the previous section as the calendar date when the entire dollar amount of the loan including any owed interest must be successfully submitted to the Lender. Keep in mind that a prepayment would be subject to any applicable penalties set through this agreement.

Lump Sum. The third option available through Section V requires that the entire loaned amount as well as any interest charged will be paid in full to the Lender in one “Lump Sum.” This statement will also consider the “Due Date” named in the previous section as the calendar date when the entire dollar amount of the loan including any owed interest must be successfully submitted to the Lender. Keep in mind that a prepayment would be subject to any applicable penalties set through this agreement.