Common use of WHAT HAPPENS WHEN THIS AGREEMENT ENDS Clause in Contracts

WHAT HAPPENS WHEN THIS AGREEMENT ENDS. If this agreement ends before the End Date (for whatever reason, for example, see paragraph 21 of the General Terms), you may be required to pay a fee or charge to compensate us for any loss as a result of the agreement ending before the End Date. We may have suffered a loss if our current interest rate is lower than the interest rate applying to your original agreement. You may also have to pay our administrative costs relating to this. The amount you may have to pay to compensate us for the loss is calculated using the formula prescribed in regulation 9 of the Credit Contracts and Consumer Finance Regulations 2004. Administrative costs $35.00 for processing if the agreement ends early. Our General Terms allows us to change the amount of this charge. Also see paragraph 22 for other amounts you may owe us if this agreement ends before the End Date.