Common use of Partial Early Repayment) Clause in Contracts

Partial Early Repayment). (a) You may at any time repay in part any amount you owe under the Agreement at that time. (b) In order to make partial early repayment you must notify us that you wish to make a partial early repayment and you must pay us the amount you wish to make as a partial early repayment (i) before the end of the period of 28 days beginning with the day following that on which we receive notice from you; or (ii) on or before any later date which you specify in your notice. (c) Your Balance will be reduced by the amount of the partial early repayment. If you make a partial early repayment before your First Repayment Date, we will reduce the amount of your monthly instalment payments and the Term will remain the same. If you make a partial early repayment, after your first Repayment Date and subject to our agreeing with you otherwise, we will not require you to make further monthly instalment payments (see REPAYMENT BY INSTALMENTS above) until such time as the accumulated total value of the monthly instalment payments that would otherwise be due is equal to the partial early repayment you have made. Thereafter, you will be required to continue to make your contractual monthly instalment payments in accordance with the REPAYMENT BY INSTALMENTS section above. We will confirm your next Repayment Date in your Monthly Statement. Interest will continue to accrue in accordance with the terms of this Agreement during any period during which no instalment payments are due. (d) Your partial early repayment will be applied as set out under ALLOCATION OF REPAYMENTS in the front section of this Agreement. Your subsequent Monthly Statement shall reflect your part payment. If you make a partial early repayment before your first Repayment Date, we will reduce the amount of your monthly instalment payments.

Appears in 2 contracts

Samples: Fixed Sum Loan Agreement, Fixed Sum Loan Agreement

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Partial Early Repayment). (a) You may at any time repay in part any amount you owe under the Agreement at that time. (b) In order to make partial early repayment you must notify us that you wish to make a partial early repayment and you must pay us the amount you wish to make as a partial early partialearly repayment (i) before the end of the period of 28 days beginning with the day following that on which we receive notice from you; or (ii) on or before any later date which you specify in your notice. (c) Your Balance will be reduced by the amount of the partial early repayment. If you make a partial early repayment before your First Repayment Date, we will reduce the amount of your monthly instalment payments and the Term will remain the same. If you make a partial early repayment, after your first Repayment Date and subject to our agreeing with you otherwise, we will not require you to make further monthly instalment payments (see REPAYMENT BY INSTALMENTS above) until such time as the accumulated total value of the monthly instalment payments that would otherwise be due is equal to the partial early repayment you have made. Thereafter, you will be required to continue to make your contractual monthly instalment payments in accordance with the REPAYMENT BY INSTALMENTS section above. We will confirm your next Repayment Date in your Monthly Statement. Interest will continue to accrue in accordance with the terms of this Agreement during any period during which no instalment payments are due. (d) Your partial early repayment will be applied as set out under ALLOCATION OF REPAYMENTS in the front section of this Agreement. Your subsequent Monthly Statement shall reflect your part payment. If you make a partial early repayment before your first Repayment Date, we will reduce the amount of your monthly instalment payments.

Appears in 1 contract

Samples: Fixed Sum Loan Agreement

Partial Early Repayment). (a) You may at any time repay in part any amount you owe under the Agreement at that time. (b) In order to make partial early repayment you must notify us that you wish to make a partial early repayment and you must pay us the amount you wish to make as a partial early repayment (i) before the end of the period of 28 days beginning with the day following that on which we receive notice from you; or (ii) on or before any later date which you specify in your notice. (c) Your Balance will be reduced by the amount of the partial early repayment. If you make a partial early repayment before your First Repayment Date, we will reduce the amount of your monthly instalment payments and the Term will remain the same. If you make a partial early repayment, after your first Repayment Date and subject to our agreeing with you otherwise, we will not require you to make further monthly instalment payments (see REPAYMENT BY INSTALMENTS above) until such time as the accumulated total value of the monthly instalment payments that would otherwise be due is equal to the partial early repayment you have made. Thereafter, you will be required to continue to make your contractual monthly instalment payments in accordance with the REPAYMENT BY INSTALMENTS section above. We will confirm your next Repayment Date in your Monthly Statement. Interest will continue to accrue in accordance with the terms of this Agreement during any period during which no instalment payments are due. (d) Your partial early repayment will be applied as set out under ALLOCATION OF REPAYMENTS in the front section of this Agreement. Your subsequent Monthly Statement shall reflect your part payment. If you make a partial early repayment before your first Repayment Date, we will reduce the amount of your monthly instalment payments.

Appears in 1 contract

Samples: Fixed Sum Loan Agreement

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Partial Early Repayment). (a) You may at any time repay in part any amount you owe under the Agreement at that time. (b) In order to make partial early repayment you must notify us that you wish to make a partial early repayment and you must pay us the amount you wish to make as a partial early repayment (i) before the end of the period of 28 days beginning with the day following that on which we receive notice from you; or (ii) on or before any later date which you specify in your notice. (c) Your Balance will be reduced by the amount of the partial early repayment. If you make a partial early repayment before your First Repayment Date, we will reduce the amount of your monthly instalment payments and the Term will remain the same. If you make a partial early repayment, after your first First Repayment Date and subject to our agreeing with you otherwise, we will not require you to make further monthly instalment payments (see REPAYMENT BY INSTALMENTS above) until such time as the accumulated total value of the monthly instalment payments that would otherwise be due is equal to the partial early repayment you have made. Thereafter, you will be required to continue to make your contractual monthly instalment payments in accordance with the REPAYMENT BY INSTALMENTS section above. We will confirm your next Repayment Date in your Monthly Statement. Interest will continue to accrue in accordance with the terms of this Agreement during any period during which no instalment payments are due. (d) Your partial early repayment will be applied as set out under ALLOCATION OF REPAYMENTS in the front section of this Agreement. Your subsequent Monthly Statement shall reflect your part payment. If you make a partial early repayment before your first First Repayment Date, we will reduce the amount of your monthly instalment payments.

Appears in 1 contract

Samples: Fixed Sum Loan Agreement

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