prepayment clause

prepayment clause. A loan-document provision that permits a borrower to satisfy a debt before its due date, usu. without paying a penalty. [Cases: Bills and Notes 129, 429. C.J.S. Bills and Notes; Letters of Credit §§ 86–89, 91–100, 234–236, 238.]

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词条贡献者

法律翻译晓琳，国际知名商学院金融专业，专注翻译各类与金融服务与投资管理有关的法律文件。