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Fifth Circuit Provides a Reminder That Language Providing for a Prepayment Premium Must Be Unambiguous
11 February 2014
Where prepayment premiums are concerned, courts will generally enforce only the explicit and unambiguous terms of contracts.
If the parties to a financing wish to receive a premium upon the acceleration of debt, they must draft their agreements to explicitly provide for such payment.
Richard F. Hahn
M. Natasha Labovitz
George E.B. Maguire
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