Not Charged A Late Fee Sample Clauses

Not Charged A Late Fee. If the Borrower will not be charged a late fee in the event he or she submits a payment that is considered late, then the third checkbox found in Section VI must be selected. VII. Prepayment Select And Complete Item 18 Or Select Item 21 (18) Prepayment Penalty. Often, a ▇▇▇▇▇▇’s finances may be tied to the proper payment of a loan. Thus, some difficulties may arise for the Lender should loan payments be submitted early. If a “Prepayment Penalty” will be imposed by the Lender as a response to the Borrower’s early payment of the entire loan amount, then the first checkbox statement in Section VII must be selected. Note that this statement will require some clarification using the available options it presents in order to be complete.