Common use of Borrower Defaults Clause in Contracts

Borrower Defaults. (1) If the borrower doesn’t use the loan under the contract, the lender calculates the contract interest rate adding % from the date of default or in accordance with daily interest rates/monthly interest rates/AIR. (If the People’s Bank adjusts the interest rate policy, its provisions.) After the loan extended, if the borrower fails to use the loan under the contract, the lender adds % based on the rate after extension. (2) loans overdue If the loans overdue, calculates the contract interest rate based on the overdue penalty interest rate, adding % from the date of loans overdue, or in accordance with daily interest rates/monthly interest rates/AIR. (If the People’s Bank adjusts the interest rate policy, calculates according its provisions.) After the loan period extended, add 40% based on the interest rate after extension from the date of loan overdue. (3) The borrower fails to pay interest periodically, the part of loan unpaid interest calculates interest according to the overdue loan penalty rate.

Borrower Defaults. (1) If the borrower doesn’t use the loan under the contract, the lender calculates the contract interest rate adding 100% from the date of default or in accordance with daily interest rates/monthly interest rates/AIR. (If the People’s Bank adjusts the interest rate policy, its provisions.) After the loan extended, if the borrower fails to use the loan under the contract, the lender adds 100% based on the rate after extension. (2) loans overdue If the loans overdue, calculates the contract interest rate based on the overdue penalty interest rate, adding 40% from the date of loans overdue, or in accordance with daily interest rates/monthly interest rates/AIR. (If the People’s Bank adjusts the interest rate policy, calculates according its provisions.) After the loan period extended, add 40% based on the interest rate after extension from the date of loan overdue. (3) The borrower fails to pay interest periodically, the part of loan unpaid interest calculates interest according to the overdue loan penalty rate.

Borrower Defaults. (1) If the borrower doesn’t use the loan under the contract, the lender calculates the contract interest rate adding ____% from the date of default or in accordance with daily interest rates/monthly interest rates/AIR. (If the People’s Bank adjusts the interest rate policy, its provisions.) After the loan extended, if the borrower fails to use the loan under the contract, the lender adds % based on the rate after extension. (2) loans overdue If the loans overdue, calculates the contract interest rate based on the overdue penalty interest rate, adding 40% from the date of loans overdue, or in accordance with daily interest rates/monthly interest rates/AIR. (If the People’s Bank adjusts the interest rate policy, calculates according its provisions.) After the loan period extended, add adds 40% based on the interest rate after extension from the date of loan overdue. (3) The borrower fails to pay interest periodically, the part of loan unpaid interest calculates interest according to the overdue loan penalty rate.

Borrower Defaults. (1) If the borrower doesn’t use the loan under the contract, the lender calculates the contract interest rate adding 100% from the date of default or in accordance with daily interest rates/monthly interest rates/AIR. (If the People’s Bank adjusts the interest rate policy, its provisions.) After the loan extended, if the borrower fails to use the loan under the contract, the lender adds 100% based on the rate after extension. (2) loans overdue If the loans overdue, calculates the contract interest rate based on the overdue penalty interest rate, adding 40% from the date of loans overdue, or in accordance with daily interest rates/monthly interest rates/AIR. (If the People’s Bank adjusts the interest rate policy, calculates according its provisions.) After the loan period extended, add adds 40% based on the interest rate after extension from the date of loan overdue. (3) The borrower fails to pay interest periodically, the part of loan unpaid interest calculates interest according to the overdue loan penalty rate.