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 to 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 Syariah Advisory Committee of the Bank from time to time and notified to the Customer.
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.
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:-
Examples of Early Settlement Charges in a sentence
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.
Deferred profit (at the point of settlement of financing) - Early Settlement Charges (if any).
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.