This payoff letter (including the defined terms such as Lenders,. Administrative Agent, Collateral Agent, Collateral, Commitments,.Creating a payoff letter is essential to any loan or mortgage repayment process. Our free templates and this guide can help you get started. One form tells borrowers the remaining principal amount and interest they have to pay to close out the loan. Create a Loan Payoff Letter online and download it as a PDF or Word document. Customize and print a blank Loan Payoff Letter for free. S. WALTERS, a Senator from the State of. Tennessee. I set up a Bill Pay in Online Banking, but it didn't get paid. April 1, 2007 at the same rate as provided in the interim agreement.