Common use of Special Interest Rate Clause in Contracts

Special Interest Rate. 15.1. If a Special Interest Rate applies (as specified in the Important Information Section), then there will be a Special Interest Rate for the nominated duration. 15.2. During the Special Interest Rate period interest will be charged on the Facility at the Special Interest Rate. The Instalment Payments during this period will include interest at the Special Interest Rate. 15.3. Interest at the Special Interest Rate is calculated on the outstanding balance of the Facility on a day-to-day basis and is charged on each Instalment Payment Date starting on the first Instalment Payment Date after the Agreement Date (as well after as before judgment or demand).