Common use of Compound interest Clause in Contracts

Compound interest. If the Borrower does not make the regular payment when required under this Contract or any other Agreement, the Lender will charge interest (referred to as “Compound Interest”) on all overdue amounts, including unpaid interest. Compound Interest is payable both before and after the Balance Due Date or maturity date, before and after default, and before and after any court judgment the Lender obtains against the Borrower. If the Lender demands it, the Borrower must pay the Lender the Compound Interest immediately. The Compound Interest is calculated at the Interest Rate.

Compound interest. If the Borrower does not make the regular payment when required under this Contract or any other Agreement, the Lender will charge interest (referred to as “Compound Interest”) on all overdue amounts, including unpaid interest. Compound Interest is payable both before and after the Balance Due Date or maturity date, before and after default, and before and after any court judgment the Lender obtains against the Borrower. If the Lender demands it, the Borrower must pay the Lender the Compound Interest immediately. The Compound Interest is calculated at the Interest Ratesame interest rate as payable on that part of the Indebtedness.