Common use of DEFAULT INTEREST CHARGES AND DEFAULT FEES Clause in Contracts

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 following default fees are payable: • A home visit fee of $30.00 may be charged if we deem it necessary to visit you in person at your home or place of work in relation to a missed payment(s) or to any other default you commit under this agreement. This will be charged at the time of the home or work visit. • In the case of enforcement, including Court or Disputes Tribunal proceedings and seizure and sale, we will charge to your account all actual court and tribunal costs and actual solicitors fees and disbursements (assessed on a solicitor client basis) and actual debt collection agency fees and disbursements and the actual costs and disbursements of valuers, auctioneers, process servers and any agents of the lender in effecting such enforcement plus any other necessary disbursements as those costs are ascertained. These will be charged to your account in the month they are incurred by us. Default interest is charged from the time you fail to make a due payment until the arrears are paid. Default interest charges are calculated by multiplying the amount of arrears at the end of the day by the daily default interest rate. The daily default interest rate is calculated by dividing the annual default interest rate by 365. Default interest is charged to your account on the last day of the month. Annual Default Interest rate is FULL PREPAYMENT If you pay the unpaid balance in full before the final payment is due (full prepayment) the Lender reserves the right to charge you an early repayment fee to compensate the Lender for any loss resulting from full prepayment, in accordance with section 43 of the Credit Contracts and Consumer Finance Xxx 0000 (“the Act”). The early repayment fee is calculated as 30 days interest at the Annual Interest Rate less 9.5% (being the Lender’s savings for its funding costs) on the outstanding principal balance of the loan at the date of repayment. This procedure can be expressed as the following formula: ERF = PB x (AIR – 9.5) x 30 1 100 365 Where: ERF means early repayment fee PB equals the principal balance of the loan at the date of repayment.

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 following default fees are payable: • A home visit fee of $30.00 50.00 may be charged if we deem it necessary to visit you in person at your home or place of work in relation to a missed payment(s) or to any other default you commit under this agreement. This will be charged at the time of the home or work visit. • In the case of enforcement, including Court or Disputes Tribunal proceedings and seizure and sale, we will charge to your account all actual court and tribunal costs and actual solicitors fees and disbursements (assessed on a solicitor client basis) and actual debt collection agency fees and disbursements and the actual costs and disbursements of valuers, auctioneers, process servers and any agents of the lender in effecting such enforcement plus any other necessary disbursements as those costs are ascertained. These will be charged to your account in the month they are incurred by us. Default interest is charged from the time you fail to make a due payment until the arrears are paid. Default interest charges are calculated by multiplying the amount of arrears at the end of the day by the daily default interest rate. The daily default interest rate is calculated by dividing the annual default interest rate by 365. Default interest is charged to your account on the last day of the month. Annual Default Interest rate is % FULL PREPAYMENT If you pay the unpaid balance in full before the final payment is due (full prepayment) the Lender reserves the right to charge you an early repayment fee to compensate the Lender for any loss resulting from full prepayment, in accordance with section 43 of the Credit Contracts and Consumer Finance Xxx 0000 (“the Act”). The early repayment fee is calculated as 30 days interest at the Annual Interest Rate less 9.5% (being the Lender’s savings for its funding costs) on the outstanding principal balance of the loan at the date of repayment. This procedure can be expressed as the following formula: ERF = PB x (AIR – 9.5) x 30 1 100 30 365 Where: ERF means early repayment fee PB equals the principal balance of the loan at the date of repayment.

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 following default fees are payable: • A home visit fee of $30.00 50.00 may be charged if we deem it necessary to visit you in person at your home or place of work in relation to a missed payment(s) or to any other default you commit under this agreement. This will be charged at the time of the home or work visit. • In the case of enforcement, including Court or Disputes Tribunal proceedings and seizure and sale, we will charge to your account all actual court and tribunal costs and actual solicitors fees and disbursements (assessed on a solicitor client basis) and actual debt collection agency fees and disbursements and the actual costs and disbursements of valuers, auctioneers, process servers and any agents of the lender in effecting such enforcement plus any other necessary disbursements as those costs are ascertained. These will be charged to your account in the month they are incurred by us. Default interest is charged from the time you fail to make a due payment until the arrears are paid. Default interest charges are calculated by multiplying the amount of arrears at the end of the day by the daily default interest rate. The daily default interest rate is calculated by dividing the annual default interest rate by 365. Default interest is charged to your account on the last day of the month. Annual Default Interest rate is FULL PREPAYMENT If you pay the unpaid balance in full before the final payment is due (full prepayment) the Lender reserves the right to charge you an early repayment fee to compensate the Lender for any loss resulting from full prepayment, in accordance with section 43 of the Credit Contracts and Consumer Finance Xxx 0000 (“the Act”). The early repayment fee is calculated as 30 days interest at the Annual Interest Rate less 9.5% (being the Lender’s savings for its funding costs) on the outstanding principal balance of the loan at the date of repayment. This procedure can be expressed as the following formula: ERF = PB x (AIR – 9.5) x 30 1 100 365 Where: ERF means early repayment fee PB equals the principal balance of the loan at the date of repayment.

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 following default fees are payable: • A home visit fee of $30.00 may be charged if we deem it necessary to visit you in person at your home or place of work in relation to a missed payment(s) or to any other default you commit under this agreement. This will be charged at the time of the home or work visit. • In the case of enforcement, including Court or Disputes Tribunal proceedings and seizure and sale, we will charge to your account all actual court and tribunal costs and actual solicitors fees and disbursements (assessed on a solicitor client basis) and actual debt collection agency fees and disbursements and the actual costs and disbursements of valuers, auctioneers, process servers and any agents of the lender in effecting such enforcement plus any other necessary disbursements as those costs are ascertained. These will be charged to your account in the month they are incurred by us. Default interest is charged from the time you fail to make a due payment until the arrears are paid. Default interest charges are calculated by multiplying the amount of arrears at the end of the day by the daily default interest rate. The daily default interest rate is calculated by dividing the annual default interest rate by 365. Default interest is charged to your account on the last day of the month. Annual Default Interest rate is FULL PREPAYMENT If you pay the unpaid balance in full before the final payment is due (full prepayment) the Lender reserves the right to charge you an early repayment fee to compensate the Lender for any loss resulting from full prepayment, in accordance with section 43 of the Credit Contracts and Consumer Finance Xxx 0000 Act 2003 (“the Act”). The early repayment fee is calculated as 30 days interest at the Annual Interest Rate less 9.5% (being the Lender’s savings for its funding costs) on the outstanding principal balance of the loan at the date of repayment. This procedure can be expressed as the following formula: ERF = PB x (AIR – 9.5) x 30 1 100 365 Where: ERF means early repayment fee PB equals the principal balance of the loan at the date of repayment.