Common use of Responsibility of breach of agreement Clause in Contracts

Responsibility of breach of agreement. 1. In case that the borrower cannot repay the loan on schedule, the lender can increase the interest rate since the date of delay by fifty percent (in words) as default interest till the capital and interest completely repaid. During the delay, in case that the PBC increases the basic loan interest rate, the default interest rate shall be accordingly increased at the same time.