optional prepayment

optional prepayment
USA
A provision in loan agreements that allows the borrower to prepay all or a portion of the outstanding loans at any time before maturity. In some loan agreements optional prepayments may be subject to a prepayment penalty.
For more information on prepayment provisions, see Standard Clauses, Loan Agreement: Prepayment and Commitment Reduction Provisions (www.practicallaw.com/2-384-1535).
See also

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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