Common use of Borrower Defaults Clause in Contracts

Borrower Defaults. (1) If the borrower doesn’t use the loan under the contract, the lender calculates the contract interest rate adding 100% from the date of default or in accordance with daily interest rates/monthly interest rates/AIR. (If the People’s Bank adjusts the interest rate policy, its provisions.) After the loan extended, if the borrower fails to use the loan under the contract, the lender adds 100% based on the rate after extension.

Borrower Defaults. (1) If the borrower doesn’t use the loan under the contract, the lender calculates the contract interest rate adding 100% from the date of default or in accordance with daily interest rates/monthly interest rates/AIR. (If the People’s Bank adjusts the interest rate policy, its provisions.) After the loan extended, if the borrower fails to use the loan under the contract, the lender adds 100% based on the rate after extension.

Borrower Defaults. (1) If the borrower doesn’t use the loan under the contract, the lender calculates the contract interest rate adding 100____% from the date of default or in accordance with daily interest rates/monthly interest rates/AIR. (If the People’s Bank adjusts the interest rate policy, its provisions.) After the loan extended, if the borrower fails to use the loan under the contract, the lender adds 100% based on the rate after extension.