Examples of Default Interest Rate in a sentence
Default Interest Rate The Default Interest Rate is the applicable Interest Rate for this tranche plus 5.00% p.a. You may be charged default interest if you do not pay amounts on your loan when they are due.
If following such set off the net amount is an amount owing by you to us, you will be liable to pay us the net amount (which may become subject to the Default Interest Rate).
If either Party does not pay within 30 days of a valid invoice being received, and if no dispute exists, the Party liable to make payment will also pay the Party to which payment is due, interest at the Default Interest Rate prevailing on the date 30 days after the date of receipt of the invoice, on any overdue amount not in dispute, for the period commencing 30 days from the date of receipt of the invoice until the payment date.
The amount of any moneys so expended or obligations so incurred by Xxxxxx, together with interest thereon at the Default Interest Rate, must be repaid to Lender forthwith upon written demand therefor.
You agree that if you fail to pay us any amount under this loan agreement when due (the “overdue amount”) then, regardless of the terms of the Term Deposit, we shall have the right, at any time, to release and withdraw any amounts standing to the credit of the Term Deposit and to set off, combine or apply such amount against the overdue amount (including any accrued interest at the Default Interest Rate).