Common use of Voluntary prepayment and cancellation Clause in Contracts

Voluntary prepayment and cancellation. 8.2.1 The Applicant may prepay or cancel all or part of the Loan, provided that the Applicant has given LTA TF at least ten Business Days’ notice in writing of its intention to prepay or cancel. 8.2.2 Any prepayment of the Loan, including any amounts prepaid in respect of VAT in accordance with paragraph 2.7 of Schedule 4, shall be applied in pro rata reduction of each remaining scheduled repayment instalment.