Prepayment Agreement (Genie AI)

The Prepayment Agreement (Genie AI) is a legal template that outlines the terms and conditions for prepayment arrangements between a borrower and a lender, with the assistance of Genie AI. This agreement specifies the terms under which the borrower can make advance payments on their outstanding loan or debt, potentially resulting in savings on interest or other financial benefits. The template is designed to provide a comprehensive framework for both parties, addressing key aspects such as prepayment penalties, calculation methods for interest savings, and any additional fees or charges associated with prepayment. It may also include provisions on how the Genie AI technology will be utilized to facilitate and automate the prepayment process, ensuring accuracy and efficiency. This legal template aims to protect the rights and interests of both the borrower and lender while establishing a clear understanding regarding prepayment terms and obligations.