Common use of Default interest and default fees Clause in Contracts

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 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 Initial • 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 the amount of your regular payments, or you can make lump sum payments during your Fixed Interest Rate Period, without the Early Repayment Recovery amount being applied. However, you can only do this if your Early Repayment is not more than $50,000.00 in each year of your Fixed Interest Rate Period. The year is calculated from the first day of your Fixed Interest Rate Period.

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 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; Initial • the time remaining in the Fixed Interest Rate Period; • our current applicable fixed interest rates; and Initial • 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 the amount of your regular payments, or you can make lump sum payments during your Fixed Interest Rate Period, without the Early Repayment Recovery amount being applied. However, you can only do this if your Early Repayment is not more than $50,000.00 in each year of your Fixed Interest Rate Period. The year is calculated from the first day of your Fixed Interest Rate Period.

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 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 Initial • 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 the amount of your regular payments, or you can make lump sum payments during your Fixed Interest Rate Period, without the Early Repayment Recovery amount being applied. However, you can only do this if your Early Repayment is not more than $50,000.00 in each year of your Fixed Interest Rate Period. The year is calculated from the first day of your Fixed Interest Rate Period.

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 Initial • 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 the amount of your regular payments, or you can make lump sum payments during your Fixed Interest Rate Period, without the Early Repayment Recovery amount being applied. However, you can only do this if your Early Repayment is not more than $50,000.00 in each year of your Fixed Interest Rate Period. The year is calculated from the first day of your Fixed Interest Rate Period.