Common use of PREPAYMENT OF THE FACILITY Clause in Contracts

PREPAYMENT OF THE FACILITY. a) Subject to the Borrower complying with the terms of the Agreement (including the Financing Documents) and at the absolute discretion of the Lender, the Borrower may exercise the option of pre-payment or foreclosure after completion of the Lock-in-Period by giving a notice of 15 (fifteen) days to the Lender, intimating its desire to pre-pay the Outstanding Obligations, in part or full. Upon such written notice by the Borrower, the Lender may at its sole discretion, accept pre-payment of the Outstanding Obligations, in part or full, subject to payment of Prepayment Charges as mentioned in the Schedule of Charges. b) Notwithstanding anything contrary contained in the Financing Documents, the prepayment and, or, foreclosure of the Outstanding Obligations, in part or full, shall be subject to the Borrower making payment of the Prepayment Charges. c) In the event the Facility is being foreclosed by the Borrower by obtaining financial assistance from any other financial institution, bank, non-banking financial company, and, or, Person, the Borrower shall be charged additional charges, which shall be borne by the Borrower in addition to the foregoing amounts. d) In the event of the Borrower intends to foreclose the Facility, the Interest would be calculated till the date of actual foreclosure.

PREPAYMENT OF THE FACILITY. a) Subject to the Borrower complying with the terms of the Agreement (including the Financing Documents) and at the absolute discretion of the Lender, the Borrower may exercise the option of pre-pre- payment or foreclosure after completion of the Lock-in-Period by giving a notice of 15 (fifteen) days to the Lender, intimating its desire to pre-pay the Outstanding Obligations, in part or full. Upon such written notice by the Borrower, the Lender may at its sole discretion, accept pre-payment of the Outstanding Obligations, in part or full, subject to payment of Prepayment Charges as mentioned in the Schedule of Charges. b) Notwithstanding anything contrary contained in the Financing Documents, the prepayment and, or, foreclosure of the Outstanding Obligations, in part or full, shall be subject to the Borrower making payment of the Prepayment Charges. c) In the event the Facility is being foreclosed by the Borrower by obtaining financial assistance from any other financial institution, bank, non-banking financial company, and, or, Person, the Borrower shall be charged additional charges, which shall be borne by the Borrower in addition to the foregoing amounts. d) In the event of the Borrower intends to foreclose the Facility, the Interest would be calculated till the date of actual foreclosure.