Usually the models for the excitation and propagation of the nervous impulse are studied either in the space-clamp situation or on a model axon extended on both sides to infinity. Following Fitzhugh in the present paper the release of an impulse train at the axon hillock is studied within the scope of Fitzhugh's BVP model. The existence and stability of periodic oscillations are studied by direct methods, also the relation to Lienard's equation. The exact correspondence between the BVP model and the socalled Nagumo-equation is established. For typical examples the solutions are computed by numerical methods.