Early Settlement Charges definition

Early Settlement Charges means costs incurred by the Bank due to early settlement or early redemption of the Facility prior to maturity, whether in full or partially, including without limitation initial costs that have not been recovered by the Bank, costs that have not been recovered because a financing contract has a structure with discount elements at the initial period of financing and any other charges as may be approved by Bank Negara Malaysia (“BNM”) and notified to the Customer.
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Early Settlement Charges. The charges for early settlement of the Facility that reflect a reasonable estimate of the Bank’s initial costs or any other cost that the Bank could not have recovered as a direct result of settlement of the Facility prior to its maturity, as set out in Section 4.03 of Part A.
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Early Settlement Charges means the charges that may be imposed by the Bank on the Customer for early settlement of the Facility before the end of the Facility Tenure. Such charges may include:-
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Examples of Early Settlement Charges in a sentence

  • Early Settlement ChargesIn the event of early settlement of the Facility within the first five (5) years from the date of Letter of Offer, the Bank shall have the right to charge you an Early Settlement Charges up to 2% on the outstanding amount of the Facility based on the actual cost incurred or as per guided by the Shariah Advisory Council of BNM from time to time.

  • Rebate (Ibra’) will be calculated based on the following formula: Ibra’ at Early Settlement = Deferred Profit – Early Settlement Charges Settlement Amount = Outstanding Selling Price + Instalments Due + Late Payment Charges (if any)– Ibra’ 9.

  • Bagaimana sekiranya saya membuat penyelesaian awal sebelum tempoh matang?• Lock in period / Tempoh Sekatan: NIL / TIADA• Early Settlement Charges / Bayaran Penyelesaian Awal: If the facility is settled within first 5 years from the date of the first disbursement, the Bank shall have the right to claim actual entry costs.

  • Formula calculation of Ibra’:Ibra’ (Rebate) = Unearned Profit – Early Settlement Charges (if any)For sample of illustrations on the application of Ibra’ and settlement amount formula, kindly refer to our website at www.smebank.com.my8.

  • Rebate (Ibra’) will be calculated based on the following formula: Ibra’ at Early Settlement = Deferred Profit – Early Settlement Charges Settlement Amount = Outstanding Selling Price + Instalments Due + Late Payment Charges (if any) – Ibra’ 11.

  • The ibra’ (rebate) to be granted will be reduced by the Bank’s Early Settlement Charges (“ESC”) rate, which will be calculated based on the following formula:ESC = p x r x t360 or 365 or 366 days p = Principal balance outstanding r = ESC rate per annumt = Number of remaining days of the tenure of a facility (or profit period)Note:i.

  • The formula of calculation of Ibra’ is as follows:Ibra’ at Early Settlement = Deferred Profit – Early Settlement Charges Settlement Amount = Outstanding Selling Price + Installments Due + Late Payment Charges (if any) – Ibra’11.

  • The formula of calculation of Ibra’ is as follows: Ibra’ at Early Settlement = Deferred Profit – Early Settlement Charges Settlement Amount = Outstanding Selling Price + Instalments Due + Late Payment Charges (if any) – Ibra’ 8.

  • The ibra’ (rebate) to be granted will be reduced by the Bank’s Early Settlement Charges (“ESC”) rate, which will be calculated based on the following formula:ESC = p x r x t365 or 366 daysp = Principal balance outstanding r = ESC rate per annumt = Number of remaining days of the tenure of a facility (or profit period)Note:i.

  • The Bank shall have the right to charge an Early Settlement Charge to the Customer upon Early Settlement during Lock-in Period made by the Customer and the Early Settlement Charges shall be calculated in the manner as determined by the Bank at its sole discretion.


More Definitions of Early Settlement Charges

Early Settlement Charges means [(Board Rate – Discounted Rate)] or 1%, whichever is lower, X (Outstanding Bank’s Purchase Price) X (number of days from the first disbursement date until date of Settlement Amount is paid)/365.
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Related to Early Settlement Charges

  • Early Settlement has the meaning specified in Section 5.9(a).

  • Settlement Date means, with respect to the Called Principal of any Note, the date on which such Called Principal is to be prepaid pursuant to Section 8.2 or has become or is declared to be immediately due and payable pursuant to Section 12.1, as the context requires.

  • CCASS Settlement Day means the term “Settlement Day” as defined in the General Rules of CCASS.