Repayment Limitations Clause Samples
The Repayment Limitations clause sets boundaries on how and when a borrower can repay a loan, particularly restricting early or excessive repayments. Typically, this clause may prohibit prepayment before a certain date, limit the amount that can be repaid in advance, or impose penalties for early repayment. Its core function is to protect the lender’s expected interest income and ensure the loan’s financial terms are upheld, thereby preventing the borrower from circumventing agreed-upon payment schedules.
Repayment Limitations. Repayment of the loan is subject to the following additional limitations, among others: those on defeasance, refinancing and advance refunding, termination, and default and recovery of payments.
Repayment Limitations. Any payment of principal or interest by the Insurer on this Surplus Note must be approved by the Commissioner, who shall approve the payment unless the Commissioner determines that such payment will Substantially Impair the financial condition of the Insurer. If such a determination is made, the Commissioner shall approve such payment that will not Substantially Impair the financial condition of the Insurer. The Board will seek approval of payments from the Commissioner and wiI1 notify any Insurer if a payment of principal and/or interest has been disapproved or, if a lower amount has been approved, the amount by which the usual payment is to be reduced.
Repayment Limitations. Notwithstanding anything else to the contrary herein, the Term B-2 Borrowers and the German Revolver Borrower shall not be obligated to make any repayments (x) with respect to the Term B-2 Borrowers, in respect of the Term B-1 Facility or any Revolving Facility or any other Incremental Facility, Term Loan Commitments or Loans that are not incurred by such Term B-2 Borrower and (y) with respect to the German Revolving Borrower, in respect of the US Revolving Facility or any Term B Facility or any other Incremental Facility, Term Loan Commitments or Loans that are not incurred by such German Revolving Borrower, and in each case, shall have no liabilities or Obligations with respect thereto.