Default interest and default fees a. 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. You must pay default interest from the date you fall into financial default until you are no longer in financial default. However we will not charge default interest on any part of the unpaid balance after we have accelerated payment of that part unless payment of that part has fallen due by the time of the charge without the acceleration.
Default interest and default fees. Default interest charges The Default Interest Rate is the aggregate of the Interest Rate from time to time and 6% per annum. Further information about how we calculate default interest and when it applies is set out in clause 4 of the Memorandum. If the repayment of the loan is accelerated as a result of default under this agreement, however, default interest does not accrue on the amount payable early and interest at the relevant interest rate continues to accrue. Default fees Description Amount How and When Paid Payment Dishonour Fee $25.00 by you immediately upon Is a fee that covers our average the occurrence of a administrative costs for work associated dishonour – the Payment with a payment dishonour. Dishonour Fee will be debited to your account on the day that we are advised of the dishonour. Default Administration Fee $95.00 by you immediately upon Is a fee that covers our average default – the Default administrative costs associated with the Administration Fee will be administration and remediation of an debited to your account on account that has gone into arrears. a Payment Date when you have been in default at any time since the preceding Payment Date. Property Law Act Notice Fee $185.00 by you when we prepare a Is a fee that covers part of the notice required by sections administrative costs we incur when we 118, 119 or 122 (or any prepare or instruct the preparation of a amendments to or default notice required by sections 118, replacements of these 119 or 122 (or any amendments to or sections) of the Property replacements of these sections) of the Law Xxx 0000. Property Law Xxx 0000. Expired Insurance Fee $50.00 by you when your Is a fee that covers part of the insurance on the Secured administrative costs associated with Property expires. corresponding with the insurer of the Secured Property and the Borrower or Mortgagor in relation to the currency of insurance and, in some instances, paying the premium and debiting it to the loan account. Rates Arrears Fee $250.00 by you when we are notified Is a fee that covers part of the by a local or water rating administrative costs associated with authority that there has receiving notification of non-payment of been a non-payment of any rates from a local or water rating rates in relation to a authority and corresponding with the Secured Property. Borrower or Mortgagor and, in some instances, paying the outstanding amounts and debiting those to the loan account. PREPAYMENT Full or partial prepayme...
Default interest and default fees. If an Event of Default occurs under clause 11.2(a) of the General Terms, or if at any time the Maximum Amount or Maximum Credit Limit is exceeded, and while the relevant Event continues, you may be charged Interest at the Default Rate on the unpaid amount or excess, as the case may be, and be charged the Fees as specified below. The Default Rate is 3.00 % per annum above the Annual Interest Rate A default fee of $5.00 is charged for any breach by you under this agreement or if we enforce this Agreement. The default fees and charges compensate us for the costs incurred by us in connection with enforcement or the remedy of a breach under this Agreement. Such costs could include debt collection and repossession fees.
Default interest and default fees. If an Event of Default occurs under Clause 13.2 (a) of the General Lending Terms, or if at any time the Maximum Amount is exceeded, and while the relevant event continues, you must pay Interest at the Default Rate and the Fees as specified below. The Default Rate is 4.00% per annum above the annual interest rate A Default Administration Fee of $45.00 (plus Recovery Costs) may be charged for any breach by you under this Agreement or if we enforce this Agreement. EARLY REPAYMENT RECOVERY AMOUNT Initial When choosing a fixed rate loan you need to know that if you: • repay the loan early either in full or in part or • switch to another fixed or variable interest rate before the end of the Fixed Interest Rate Period (Early Repayment), you may be required to pay an Early Repayment Recovery amount to us. Fixed rate loans are a contract between you and NBS. They give you certainty of your repayments and the interest you will be charged during the Fixed Interest Rate Period. In exchange, we receive certainty of income that will be received. If you repay some or all of your fixed rate loan early or switch to another fixed or variable rate before the end of your Fixed Interest Rate Period, we may lose income. The Early Repayment Recovery amount helps us recover an estimate of the likely loss of that income. When calculating the loss, we use the calculation set out in the Credit Contracts and Consumer Finance Regulations 2004 (regulation 9 and 11). The calculation is complex and takes into account: • the amount being repaid early; • the time remaining in the Fixed Interest Rate Period; • our current applicable fixed interest rates; and • what your current regular payments are. We calculate the Early Repayment Recovery amount by comparing: • the interest that would have been payable on the relevant part of your loan for the time remaining in your Fixed Interest Rate Period; and • the interest that would be payable if we relend the amount you intend to repay early, on the day of your repayment at the applicable prevailing interest rate. The result of the calculation depends on the specific features and term of your loan. We recommend you contact your branch for an estimate of your Early Repayment Recovery amount before you look to repay or restructure your fixed rate loan. You may also have to pay a $50.00 administrative fee relating to the Early Repayment (Early Repayment Administration Fee). We may not always charge the Early Repayment Recovery Amount You can increase...
Default interest and default fees a. Whether or not the unpaid balance is at call you must pay us default interest on any overdue instalment or any other overdue amount at the rate shown in the disclosure statement (under Default interest charges and default fees) from the due date until you pay the instalment or amount.
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. Default interest charges and default fees In the event of a default in payment, and while the default continues, you must pay the default interest charges. In the event of a breach of the contract or on the enforcement of the contract, the default fees specified below are payable. Your credit contract may allow the creditor to vary these fees and charges.
Default interest and default fees. 13.1 The way in which default interest is calculated and charged to your account is explained in the loan agreement.
Default interest and default fees. If an Event of Default occurs under Clause 13.2 (a) of the General Lending Terms, or if at any time the Maximum Amount is exceeded, and while the relevant event continues, you must pay Interest at the Default Rate and the Fees as specified below. The Default Rate is 5.00% per annum above the annual interest rate Default administration fees (plus Recovery Costs) may be charged for any breach by you under this Agreement or if we enforce this Agreement. The default fees and charges compensate us for the costs incurred by us in connection with enforcement or the remedy of a breach under this Agreement. Such costs could include debt collection and repossession fees charged by a third party (Repossession Agent, Legal Provider) which will be debited to the loan for the invoiced amount. Copies of which are available upon request
Default interest and default fees. If an Event of Default occurs under Clause 13.2 (a) of the General Lending Terms, or if at any time the Maximum Amount is exceeded, and while the relevant event continues, you must pay Interest at the Default Rate and the Fees as specified below. The Default Rate is 10.00% per annum above the annual interest rate A Default Administration Fee of $45.00 (plus Recovery Costs) may be charged for any breach by you under this Agreement or if we enforce this Agreement.
