Common use of Debt collection costs Clause in Contracts

Debt collection costs. If any payment of default interest required to be paid under the Agreement or any part of it is not paid on the due date, the default interest in arrears shall, (without prejudice to any or all of the rights and remedies accruing to Mogo Auto consequent on such default) be capitalised and shall be immediately added to the Loan Facility and shall bear interest accordingly at the rate specified in clause 4.2 of the T&C, from the day when the default interest is capitalised.