Common use of Default interest and default fees Clause in Contracts

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 prepayment You may prepay the loan in full at any time. If a Loan Account is subject to a Fixed Interest Rate Period and you prepay that Loan Account in full (“full prepayment”) or in part (“partial prepayment”) before the expiry of the Fixed Interest Rate Period (or the loan is prepaid in full or in part in connection with a Default before the expiry of the Fixed Interest Rate Period), we may charge you a fee to compensate us for any loss resulting from the prepayment. The amount you may have to pay to compensate us for the loss in respect of a full prepayment is calculated using the formulas specified in regulations 9 or 11 (as applicable) of the Credit Contracts and Consumer Finance Regulations 2004 (the Regulations). In addition, you will also have to pay our Discharge Administration Fee and the Discharge Legal Fee on a full prepayment. The amount you may have to pay to compensate us for the loss in respect of a partial prepayment is calculated using a method that is consistent with the formula specified in regulations 9 or 11 (as applicable) of the Regulations but modified as appropriate to account for the partial prepayment. Fees charged on prepayment can be large, and we recommend that you contact us for the amount of these fees before making any prepayment. No amount prepaid may be redrawn. If there is any conflict between this clause and the Memorandum this clause prevails. RIGHT TO CANCEL (CONSUMER CREDIT CONTRACTS ONLY) You are entitled to cancel the consumer credit contract by giving notice to us. Time limits for cancellation • If the Specific Terms and the Memorandum are handed to you directly you must give notice that you intend to cancel within 5 working days after you receive those documents. • If the Specific Terms and the Memorandum are sent to you by electronic means (for example, email) you must give notice that you intend to cancel within 7 working days after the electronic communication is sent. • If the Specific Terms and the Memorandum are posted to you, you must give the notice within 9 working days after they were posted. Saturdays, Sundays, and national public holidays are not counted as working days. How to cancel To cancel, you must give us written notice that you intend to cancel the contract by: • giving notice to [Lender] or an employee or agent of ours; or • posting the notice to us or an agent of [Lender]; or • emailing the notice to [Lender]’s email address (specified on the front of the Specific Terms); or • sending the notice to [Lender]’s fax number (specified on the front of the Specific Terms). You must also, within the same time, return to us any advance received by you under the contract. What you may have to pay if you cancel If you cancel the contract, we can charge you the amount of any reasonable expenses we had to pay in connection with the contract and its cancellation (including legal fees and fees for credit reports, etc). If you cancel the contract we can also charge you interest for the period from the day you received the advance until the day you repay the advance.

Default interest and default fees. Default interest charges rate 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 associated 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 the administration and remediation of an debited to your account on an account that has gone into arrears. on a Monthly Payment Date when you have been in default at any time since the preceding Monthly Payment Date. Property Law Act Notice Fee $185.00 by you when we prepare a Is a fee that covers part of the a notice required by sections administrative costs we incur when we sections 118, 119 or 122 prepare or instruct the preparation of (or any amendments to a default notice required by sections or replacements of these 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 to or replacements of these sections) of the Law Xxx 0000. the 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 Page 7 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 prepayment You may prepay the loan in full at any time. If a Loan Account is subject to a Fixed Interest Rate Period and you prepay that Loan Account in full (“full prepayment”) or in part (“partial prepayment”) before the expiry of the Fixed Interest Rate Period (or the loan is prepaid in full or in part in connection with a Default before the expiry of the Fixed Interest Rate Period), we may charge you a fee to compensate us for any loss resulting from the prepayment. The amount you may have to pay to compensate us for the loss in respect of a full prepayment is calculated using the formulas specified in regulations 9 or 11 (as applicable) of the Credit Contracts and Consumer Finance Regulations 2004 (the Regulations). In addition, you will also have to pay our Discharge Administration Fee and the Discharge Legal Fee on a full prepayment. The amount you may have to pay to compensate us for the loss in respect of a partial prepayment is calculated using a method that is consistent with the formula specified in regulations 9 or 11 (as applicable) of the Regulations but modified as appropriate to account for the partial prepayment. Fees charged on prepayment can be large, and we recommend that you contact us for the amount of these fees before making any prepayment. No amount prepaid may be redrawn. If there is any conflict between this clause and the Memorandum this clause prevails. RIGHT TO CANCEL (CONSUMER CREDIT CONTRACTS ONLY) You are entitled to cancel the consumer credit contract by giving notice to us. Time limits for cancellation • If the Specific Terms and the Memorandum are handed to you directly you must give notice that you intend to cancel within 5 working days after you receive those documents. • If the Specific Terms and the Memorandum are sent to you by electronic means (for example, email) you must give notice that you intend to cancel within 7 working days after the electronic communication is sent. • If the Specific Terms and the Memorandum are posted to you, you must give the notice within 9 working days after they were posted. Saturdays, Sundays, and national public holidays are not counted as working days. How to cancel To cancel, you must give us written notice that you intend to cancel the contract by: • giving notice to [Lender] or an employee or agent of ours; or • posting the notice to us or an agent of [Lender]; or • emailing the notice to [Lender]’s email address (specified on the front of the Specific Terms); or • sending the notice to [Lender]’s fax number (specified on the front of the Specific Terms). You must also, within the same time, return to us any advance received by you under the contract. What you may have to pay if you cancel If you cancel the contract, we can charge you the amount of any reasonable expenses we had to pay in connection with the contract and its cancellation (including legal fees and fees for credit reports, etc). If you cancel the contract we can also charge you interest for the period from the day you received the advance until the day you repay the advance.Private Agreement Version May 2022

Default interest and default fees. Default interest charges rate The Default Interest Rate is the aggregate of the Interest Rate from time to time and 64% 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 the Is a fee that covers our average the occurrence of a dishonour – administrative costs for work associated dishonour – the Payment Dishonour Fee associated 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 0000Act 2007. notice required by sections 118, 119 or 122 (or any amendments to or replacements of these sections) of the Property Law Act 2007. Expired Insurance Fee $50.00 by you when your insurance 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. on the Secured Property expires. 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 by a local or partial prepayment You may prepay the loan water rating authority that there has been a non-payment of any rates in full at any time. If a Loan Account is subject relation to a Fixed Interest Rate Period and you prepay that Loan Account in full (“full prepayment”) or in part (“partial prepayment”) before the expiry of the Fixed Interest Rate Period (or the loan is prepaid in full or in part in connection with a Default before the expiry of the Fixed Interest Rate Period), we may charge you a fee to compensate us for any loss resulting from the prepayment. The amount you may have to pay to compensate us for the loss in respect of a full prepayment is calculated using the formulas specified in regulations 9 or 11 (as applicable) of the Credit Contracts and Consumer Finance Regulations 2004 (the Regulations). In addition, you will also have to pay our Discharge Administration Fee and the Discharge Legal Fee on a full prepayment. The amount you may have to pay to compensate us for the loss in respect of a partial prepayment is calculated using a method that is consistent with the formula specified in regulations 9 or 11 (as applicable) of the Regulations but modified as appropriate to account for the partial prepayment. Fees charged on prepayment can be large, and we recommend that you contact us for the amount of these fees before making any prepayment. No amount prepaid may be redrawn. If there is any conflict between this clause and the Memorandum this clause prevails. RIGHT TO CANCEL (CONSUMER CREDIT CONTRACTS ONLY) You are entitled to cancel the consumer credit contract by giving notice to us. Time limits for cancellation • If the Specific Terms and the Memorandum are handed to you directly you must give notice that you intend to cancel within 5 working days after you receive those documents. • If the Specific Terms and the Memorandum are sent to you by electronic means (for example, email) you must give notice that you intend to cancel within 7 working days after the electronic communication is sent. • If the Specific Terms and the Memorandum are posted to you, you must give the notice within 9 working days after they were posted. Saturdays, Sundays, and national public holidays are not counted as working days. How to cancel To cancel, you must give us written notice that you intend to cancel the contract by: • giving notice to [Lender] or an employee or agent of ours; or • posting the notice to us or an agent of [Lender]; or • emailing the notice to [Lender]’s email address (specified on the front of the Specific Terms); or • sending the notice to [Lender]’s fax number (specified on the front of the Specific Terms). You must also, within the same time, return to us any advance received by you under the contract. What you may have to pay if you cancel If you cancel the contract, we can charge you the amount of any reasonable expenses we had to pay in connection with the contract and its cancellation (including legal fees and fees for credit reports, etc). If you cancel the contract we can also charge you interest for the period from the day you received the advance until the day you repay the advanceSecured Property.

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 prepayment You may prepay the loan in full at any time. If a Loan Account is subject to a Fixed Interest Rate Period and you prepay that Loan Account in full (“full prepayment”) or in part (“partial prepayment”) before the expiry of the Fixed Interest Rate Period (or the loan is prepaid in full or in part in connection with a Default before the expiry of the Fixed Interest Rate Period), we may charge you a fee to compensate us for any loss resulting from the prepayment. The amount you may have to pay to compensate us for the loss in respect of a full prepayment is calculated using the formulas specified in regulations 9 or 11 (as applicable) of the Credit Contracts and Consumer Finance Regulations 2004 (the Regulations). In addition, you will also have to pay our Discharge Administration Fee and the Discharge Legal Fee on a full prepayment. The amount you may have to pay to compensate us for the loss in respect of a partial prepayment is calculated using a method that is consistent with the formula specified in regulations 9 or 11 (as applicable) of the Regulations but modified as appropriate to account for the partial prepayment. Fees charged on prepayment can be large, and we recommend that you contact us for the amount of these fees before making any prepayment. No amount prepaid may be redrawn. If there is any conflict between this clause and the Memorandum this clause prevails. RIGHT TO CANCEL (CONSUMER CREDIT CONTRACTS ONLY) You are entitled to cancel the consumer credit contract by giving notice to us. Time limits for cancellation • If the Specific Terms and the Memorandum are handed to you directly you must give notice that you intend to cancel within 5 working days after you receive those documents. • If the Specific Terms and the Memorandum are sent to you by electronic means (for example, email) you must give notice that you intend to cancel within 7 working days after the electronic communication is sent. • If the Specific Terms and the Memorandum are posted to you, you must give the notice within 9 working days after they were posted. Saturdays, Sundays, and national public holidays are not counted as working days. How to cancel To cancel, you must give us written notice that you intend to cancel the contract by: • giving notice to [LenderXxxxxx] or an employee or agent of ours; or • posting the notice to us or an agent of [Lender]; or • emailing the notice to [LenderXxxxxx]’s email address (specified on the front of the Specific Terms); or • sending the notice to [Lender]’s fax number (specified on the front of the Specific Terms). You must also, within the same time, return to us any advance received by you under the contract. What you may have to pay if you cancel If you cancel the contract, we can charge you the amount of any reasonable expenses we had to pay in connection with the contract and its cancellation (including legal fees and fees for credit reports, etc). If you cancel the contract we can also charge you interest for the period from the day you received the advance until the day you repay the advance.