Prepayment Privileges Clause Samples

The Prepayment Privileges clause defines the borrower's right to pay off all or part of a loan before its scheduled maturity date without incurring penalties. Typically, this clause outlines any conditions or limits on prepayments, such as minimum amounts or notice requirements, and may specify whether partial or full prepayments are allowed. Its core function is to provide flexibility for borrowers to reduce interest costs or manage debt more efficiently, while also clarifying the lender's expectations and protecting both parties from misunderstandings regarding early repayment.
Prepayment Privileges. The following prepayment privileges may be used in the same year. The exercising of either privilege will not affect any of the Borrower's obligations under this Mortgage including the continuing regular loan payments as to Indebtedness or due date. Privileges are not cumulative and may not be carried over from one year to the next.
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Prepayment Privileges. You may repay all or a portion of your loan at any time without charges or penalties. PREPAYMENT CHARGES None
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Prepayment Privileges. ▇▇▇▇ prepayment privileges have been set forth in any accepted Commitment Letter between the Credit Union and the Member as may be amended in writing from time to time that relate to this Loan. Such prepayment privileges have been specifically adopted under this Agreement.
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Prepayment Privileges. The Loan is open and may be prepaid in full or partially on any regular payment date without prepayment charges. After each partial prepayment is made, the Borrower must continue to make the regular payments. Each partial prepayment made by the Borrower is applied to pay down the outstanding principal and cannot be refunded. PAYMENT OF INDEBTEDNESS ON THE BALANCE DUE DATE OR MATURITY DATE The Borrower undertakes to pay any outstanding balance of the Adjustable Rate Loan on the Balance Due Date or maturity date shown on the Agreement then governing the Adjustable Rate Loan and for each other part of the Indebtedness on the Balance Due Date or maturity date set out in the Agreement relating to that part of the Indebtedness or any agreement amending the Agreement. For certainty and notwithstanding any other terms and conditions in this charge, all indebtedness, liabilities and obligations secured by this charge are payable on demand and this charge may be enforced on the occurrence of such demand. SECURED OBLIGATIONS AND DISCHARGE
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Prepayment Privileges. If you have chosen an open term for a mortgage, you may, without having to pay any prepayment charge, prepay all or part of the outstanding principal amount of such mortgage at any time or increase your regular payments once in each year of the term (in accordance with section 2.14.1.3 below) by the percentage set out in the tables in the Operating Agreement for your Manulife Bank Select Account. If you have chosen a closed term for a mortgage, as indicated in the Operating Agreement for your Manulife Bank Select Account, you may make prepayments only as provided below:
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Prepayment Privileges. This Note may be prepaid in whole or in part at any time and from time to time during the term hereof.
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Prepayment Privileges. This Note may be prepaid in whole or in part at any time and from time to time during the term hereof. All partial prepayments shall be applied in inverse order of maturity and shall not extend or reduce any other principal payments due hereunder.
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Prepayment Privileges. This Note may be prepaid in whole or in part at any time and from time to time during the term hereof upon at least fifteen (15) days’ prior written notice to Lender. All partial prepayments shall be applied in inverse order of maturity and shall not extend or reduce the next installment due hereunder.
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Prepayment Privileges 
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Related to Prepayment Privileges

  • Prepayment Premium Borrower will be required to pay a prepayment premium in connection with certain prepayments of the Indebtedness, including a payment made after Lender’s exercise of any right of acceleration of the Indebtedness, as provided in the Note.

  • Notification of Advances, Interest Rates, Prepayments and Commitment Reductions Promptly after receipt thereof, the Agent will notify each Lender of the contents of each Aggregate Commitment reduction notice, Borrowing Notice, Conversion/Continuation Notice, and repayment notice received by it hereunder. The Agent will notify each Lender of the interest rate applicable to each Eurodollar Advance promptly upon determination of such interest rate and will give each Lender prompt notice of each change in the Alternate Base Rate.

  • Prepayment Premiums As of the applicable date of origination of each such Mortgage Loan, any prepayment premiums and yield maintenance charges payable under the terms of the Mortgage Loans, in respect of voluntary prepayments, constituted customary prepayment premiums and yield maintenance charges for commercial mortgage loans.

  • Cumulative Prepayments Except as otherwise expressly provided in this Section 2.05, payments with respect to any subsection of this Section 2.05 are in addition to payments made or required to be made under any other subsection of this Section 2.05.

  • Optional Prepayments of Loans The Borrower may prepay Loans, (i) upon at least two Business Days’ notice, in the case of Eurodollar Rate Revolving Loans, and (ii) upon notice not later than 12:00 noon (New York City Time) on the date of prepayment, in the case of Base Rate Revolving Loans, to the Administrative Agent stating the proposed date and aggregate principal amount of the prepayment, and, if such notice is given, the Borrower shall prepay the outstanding principal amount of the Loans comprising part of the same Borrowing in whole or ratably in part, without penalty, together with accrued interest to the date of such prepayment on the principal amount prepaid; provided, however, that (x) each partial prepayment shall be in an aggregate principal amount of $1,000,000 or an integral multiple of $100,000 in excess thereof and (y) in the event of any such prepayment of a Eurodollar Rate Loan, the Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.04(c).