Common use of Default interest and default fees Clause in Contracts

Default interest and default fees. If you are in financial default you must pay us default interest on any overdue instalment or other overdue amount at the rate shown in the disclosure statement and if you are in any default at all you must pay default fees. You must pay default interest from the date you fall into financial default until you are no longer in financial default. You must pay default fees from when you fall into any default until you cease that default. We may debit all default interest and default fees as set out in the “Default interest charges and default fees” section of the disclosure statement and they will become part of the unpaid balance. You must continue to pay default interest and default fees after judgment against you. That means you must keep paying them after we sue you in a court or tribunal for the unpaid balance and obtain a judgement or an order that you must pay. Notwithstanding anything else in this agreement, if this agreement is not a consumer credit contract, the lender may charge default interest on the unpaid balance in the event that you commit any default whether a default in any payment or otherwise.

Default interest and default fees. If you are in financial default you must pay us default interest on any overdue instalment or other overdue amount at the rate shown in the disclosure statement and if you are in any default at all you must pay default fees. You must pay default interest from the date you fall into financial default until you are no longer in financial default. You must pay default fees from when you fall into any default until you cease that default. We may debit all default interest and default fees as set out in the “Default interest charges and default fees” section of the disclosure statement and they will become part of the unpaid balance. You must continue to pay default interest and default fees after judgment against you. That means you must keep paying them after we sue you in a court or a tribunal for the unpaid balance and obtain a judgement or an order that you must pay. Notwithstanding anything else in this agreement, if this agreement is not a consumer credit contract, the lender may charge default interest on the unpaid balance in the event that you commit any any default whether a default in any payment or otherwise.