TRY ME!
Loan Repayment Clause Revision
Summary
The revised loan repayment clause includes repayment on the 10th anniversary or within 14 days of a lenders demand, with an extension if subject to authority approvals. Alternatives to provided that include except that or subject to the condition that. Scenarios not covered include prepayment, default consequences, interest rates, partial repayments, and options if approvals are not obtained.Full Conversation
Please revise this clause:The Borrower shall repay the Loan (subject to the Loan amount actually disbursed) made to it and all other amounts accrued or outstanding under this Agreement:
(a) on the 10th anniversary of the first disbursement of the Loan; or
(b) within 14 days of a demand by the Lender; whichever is earlier.
Provided that if such repayment is subject to any approval or restriction from a relevant authority, including the Central Bank of Myanmar, the due date shall be extended until such approvals are obtained or such restrictions are lifted.
Here's a revised version of the clause:
---
The Borrower shall repay the Loan (subject to the amount actually disbursed) and all other amounts accrued or outstanding under this Agreement:
(a) on the 10th anniversary of the first disbursement of the Loan; or
(b) within 14 days of a demand by the Lender, whichever is earlier.
If such repayment is subject to approval or restriction from any relevant authority, including the Central Bank of Myanmar, the due date shall be extended until such approvals are obtained or restrictions are lifted.
---
The Borrower shall repay the Loan (subject to the amount actually disbursed) and all other amounts accrued or outstanding under this Agreement:
(a) on the 10th anniversary of the first disbursement of the Loan; or
(b) within 14 days of a demand by the Lender, whichever is earlier.
If such repayment is subject to approval or restriction from any relevant authority, including the Central Bank of Myanmar, the due date shall be extended until such approvals are obtained or restrictions are lifted.
may i use the word provided that or any possible alternative as a exception provision?
Yes, you can use "provided that" as an exception provision. Here’s how you can incorporate it into your clause:
---
The Borrower shall repay the Loan (subject to the amount actually disbursed) and all other amounts accrued or outstanding under this Agreement:
(a) on the 10th anniversary of the first disbursement of the Loan; or
(b) within 14 days of a demand by the Lender, whichever is earlier;
provided that if such repayment is subject to approval or restriction from any relevant authority, including the Central Bank of Myanmar, the due date shall be extended until such approvals are obtained or restrictions are lifted.
---
Alternatively, you can use "except that" or "subject to the condition that" as alternatives to "provided that":
---
The Borrower shall repay the Loan (subject to the amount actually disbursed) and all other amounts accrued or outstanding under this Agreement:
(a) on the 10th anniversary of the first disbursement of the Loan; or
(b) within 14 days of a demand by the Lender, whichever is earlier;
except that if such repayment is subject to approval or restriction from any relevant authority, including the Central Bank of Myanmar, the due date shall be extended until such approvals are obtained or restrictions are lifted.
---
The Borrower shall repay the Loan (subject to the amount actually disbursed) and all other amounts accrued or outstanding under this Agreement:
(a) on the 10th anniversary of the first disbursement of the Loan; or
(b) within 14 days of a demand by the Lender, whichever is earlier;
subject to the condition that if such repayment is subject to approval or restriction from any relevant authority, including the Central Bank of Myanmar, the due date shall be extended until such approvals are obtained or restrictions are lifted.
---
---
The Borrower shall repay the Loan (subject to the amount actually disbursed) and all other amounts accrued or outstanding under this Agreement:
(a) on the 10th anniversary of the first disbursement of the Loan; or
(b) within 14 days of a demand by the Lender, whichever is earlier;
provided that if such repayment is subject to approval or restriction from any relevant authority, including the Central Bank of Myanmar, the due date shall be extended until such approvals are obtained or restrictions are lifted.
---
Alternatively, you can use "except that" or "subject to the condition that" as alternatives to "provided that":
---
The Borrower shall repay the Loan (subject to the amount actually disbursed) and all other amounts accrued or outstanding under this Agreement:
(a) on the 10th anniversary of the first disbursement of the Loan; or
(b) within 14 days of a demand by the Lender, whichever is earlier;
except that if such repayment is subject to approval or restriction from any relevant authority, including the Central Bank of Myanmar, the due date shall be extended until such approvals are obtained or restrictions are lifted.
---
The Borrower shall repay the Loan (subject to the amount actually disbursed) and all other amounts accrued or outstanding under this Agreement:
(a) on the 10th anniversary of the first disbursement of the Loan; or
(b) within 14 days of a demand by the Lender, whichever is earlier;
subject to the condition that if such repayment is subject to approval or restriction from any relevant authority, including the Central Bank of Myanmar, the due date shall be extended until such approvals are obtained or restrictions are lifted.
---
pls be more legal for "restrictins are lifted"?
Case Rating: *
You can use a more formal legal language for "restrictions are lifted" like this:
---
The Borrower shall repay the Loan (subject to the amount actually disbursed) and all other amounts accrued or outstanding under this Agreement:
(a) on the 10th anniversary of the first disbursement of the Loan; or
(b) within 14 days of a demand by the Lender, whichever is earlier;
provided that if such repayment is subject to approval or restriction from any relevant authority, including the Central Bank of Myanmar, the due date shall be extended until such approvals are obtained or such restrictions are rescinded or nullified.
---
Would you like any further assistance with this clause?
You can use a more formal legal language for "restrictions are lifted" like this:
---
The Borrower shall repay the Loan (subject to the amount actually disbursed) and all other amounts accrued or outstanding under this Agreement:
(a) on the 10th anniversary of the first disbursement of the Loan; or
(b) within 14 days of a demand by the Lender, whichever is earlier;
provided that if such repayment is subject to approval or restriction from any relevant authority, including the Central Bank of Myanmar, the due date shall be extended until such approvals are obtained or such restrictions are rescinded or nullified.
---
Would you like any further assistance with this clause?
please give mecomment which scenerios does not cover in the clause?
Case Rating: *
The clause appears to cover the following scenarios:
- Repayment on the 10th anniversary of the first loan disbursement.
- Repayment within 14 days of a demand by the lender.
- Extension of repayment due date if subject to approval or restrictions from relevant authorities.
Here are some scenarios not covered:
- Prepayment of the loan before the due dates.
- Specific consequences of defaulting on the loan repayment.
- Interest rates and how they are applied over the term of the loan.
- Terms for partial repayments or multiple disbursements.
- Repayment options if the borrower is unable to obtain necessary approvals or lift restrictions.
Would you like any more details on any of these scenarios?
The clause appears to cover the following scenarios:
- Repayment on the 10th anniversary of the first loan disbursement.
- Repayment within 14 days of a demand by the lender.
- Extension of repayment due date if subject to approval or restrictions from relevant authorities.
Here are some scenarios not covered:
- Prepayment of the loan before the due dates.
- Specific consequences of defaulting on the loan repayment.
- Interest rates and how they are applied over the term of the loan.
- Terms for partial repayments or multiple disbursements.
- Repayment options if the borrower is unable to obtain necessary approvals or lift restrictions.
Would you like any more details on any of these scenarios?
Start a new chat