Common use of Default Interests Clause in Contracts

Default Interests. If the CLIENT does not fully cover the Total Amount of the Credit (in the case of payment in a single exhibition) or any Partial Payment, he/she must pay to MONEYMAN the default interest accrued daily as of the date on which it is paid and until its total settlement; it will be calculated by multiplying the default interest rate indicated in the Cover of the Credit Contract for the balance due and not paid, until the Total Amount of the Credit or the Partial Payment in question has been paid completely.

Default Interests. If the CLIENT does not fully cover the Total Amount of the Credit (in the case of payment in a single exhibition) or any Partial Payment, he/she must pay to MONEYMAN the default interest accrued daily as of the date following day on which it is paid and until its total settlement; it will be calculated by multiplying the default interest rate indicated in the Cover of the Credit Contract for the balance due and not paid, until the Total Amount of the Credit or the Partial Payment in question has been paid completely.