Common use of Additional Repayment Option Clause in Contracts

Additional Repayment Option. No more than [***] and no less than [***] before the Maturity Date, the Client may, without charge, submit a request in writing or electronically to the Bank, in the form attached as Schedule 1 to this Loan Agreement, asking the Bank to agree the following repayment terms: • partial repayment of the Loan on the Maturity Date and subsequent repayment of the balance of the Loan over an additional period of: one (1), two (2), three (3), four (4) or five (5) year(s) from the Maturity Date; or • full repayment of the Loan over an additional period of: one (1), two (2), three (3), four (4) or five (5) year(s) from the Maturity Date (the ‘Additional Repayment Period’), and the desired frequency of repayments: monthly, quarterly, half-yearly or yearly. Following receipt of the Client’s request, the Bank shall inform the Client of the financial terms applicable during the requested Additional Repayment Period. The interest rate applicable during the Additional Repayment Period shall be the Bank’s financing cost (as determined by the Bank in accordance with the regulations in force on the date on which the Repayment Option is exercised) and the State Guarantee Premium, depending on the requested Additional Repayment Period. Once the Bank has sent the new financial terms applicable during the Additional Repayment Period, the Client shall have a period of [***] in which to accept or reject the said terms. If the Client does not reply or rejects the financial terms, the Loan must be repaid on the Maturity Date. The variations made to this Loan Agreement owing to the exercise of the Additional Repayment Option will not in any way affect the Bank’s rights hereunder and must not be construed as a novation within the meaning of Article 1329 et seq. of the French Civil Code. The new repayment schedule will take effect subject to the payment of interest at the end of the period of 12 months in accordance with clause 5. If the Additional Repayment Option is not exercised within the above timeframe, the Loan must be repaid on the Maturity Date. If the Client takes out one or more loans that are guaranteed by the State pursuant to the Decree, the term of all of those loans must be identical and repayments must be made at the same frequency.