Common use of Compound interest Clause in Contracts

Compound interest. For the interest that the Borrower does not pay as scheduled, the Lender shall collect the compound interest from the day when the interest is not paid as scheduled on a / (quarterly/monthly) basis. For the interest not paid as scheduled within the loan term, compound interest will be collected at the loan interest rate as agreed in this Contract, but starting from the loan maturity date, compound interest will be collected at the overdue punitive interest rate as agreed herein. For the interest not paid as scheduled in the period of overdue or default use of loan, compound interest will be collected at the punitive interest rate as agreed herein.