Is one not allowed to close a Meridian VRM mortgage a day after signing?

This is the except from a VRM renewal. I understood that a variable mortgage is simple 3 month's interest and can be broken anytime. Does below except mean Meridian can charge more than 3 month's interest if they chose on a VRM mortgage if it is closed/broken the next day after signing?

"IF THIS IS A CLOSED MORTGAGE LOAN, following the expiration of 6 months after the Date of Reneweal, the Borrower(s) may request the Credit Union to permit the Borrower(s) to pay any amounts of the principal of the Mortgage Loan in excess of amounts permitted by the Prepayment Privilege set out in the previous box (a “Additional Prepayment”) prior to the Maturity Date, and the Credit Union will approve the request if the Borrower(s) pays to the Credit Union a Prepayment Charge on the requested date of acceptance of payment of the Additional Prepayment, calculated as follows: The Prepayment Charge will be calculated on the requested Prepayment Amount as of the requested date of acceptance of payment of the Additional Prepayment (the “Requested Prepayment Amount”). Any amounts paid in excess of the Prepayment Privilege will be subject to a Prepayment Charge in an amount of 3 months interest at the Annual Interest R disclosed above."