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(1) A borrower or guarantor may settle the credit amount at any time, subject to notice requirements as the conditions provided for in a credit agreement.

(2) A credit agreement may provide for the terms and conditions of any prepayment and the order in which advance payments are to be applied;

(3) Unless otherwise agreed by the parties, the amount required to settle a debt agreement is the total of

(a) the principal amount;

(b) the accrued interest charges;

(c) a prepayment charge, if any, agreed between the borrower and the lender; and

(d) the other fees and charges payable by the borrower to the lender up to the date for settlement.

(4) Subject to notice requirements provided in a credit agreement, a lender shall accept any payment under a credit agreement when it is tendered, even if that is before the date on which the payment is due.

(5) A lender shall credit each payment made under a credit agreement to the borrower as of the date of receipt of the payment.