General terms and conditions for government loan for payment of refunds to travellers for cancelled trips that had been rebooked

This is a translation of the Swedish General Terms and Conditions. It is the terms in Swedish that apply.

Document information

Type of publication: General terms and conditions

Valid from: 2021-08-02

Sender: Kammarkollegiet

Number of pages when printing: 18

5 Interest, Costs and Expenses

5.1 Interest

5.1.1

The Borrower may pay the Lender accrued Interest on the Loan for the relevant Interest Period, in arrears on each Interest Payment Date. The Borrower does, however, have the option of deferring payment of Interest in accordance with clause 5.1.2.

5.1.2

Interest during the term of the Loan that has not been paid in the year in which the interest has been incurred must be capitalised by being added to the Loan at the end of the calendar year. The Lender must notify the Borrower, after the end of a calendar year and before such capitalisation of Interest is performed, of the amount of accrued Interest that may be capitalised. If the Borrower does not subsequently pay this accrued Interest within [20] days, this accrued Interest shall be capitalised and calculated from the first day of the current year.

5.1.3

In the event that the Borrower repays the Loan in full before the Final Repayment Date, Interest that has been incurred during the year but not paid shall be capitalised by being added to the Loan on the date of such repayment.

5.1.4

Interest shall be calculated from the first day of each Interest Period until (but excluding) the last day of the same Interest Period for the actual number of days that have elapsed, and shall be calculated on a year consisting of 360 days. The first Interest Period for the Loan starts on the Disbursement Date and ends on the first Interest Payment Date. Each subsequent Interest Period starts on the last day of the previous Interest Period and ends on the next Interest Payment Date. The last interest period shall end on the Final Repayment Date.

5.2 Penalty interest

If a payment under the Loan Agreement is not made on time by the Borrower, the Borrower must pay penalty interest on the Unpaid Amount from the due date until full payment is made. The penalty interest rate for the Unpaid Amount shall be determined by the Lender in accordance with 7 and 8 §§ Förordning (1993:1138) om hantering av statliga fordringar.

5.3 Costs and expenses

5.3.1

The Borrower must, within five Banking Days of a request to do so, reimburse the Lender for costs and expenses incurred by the Lender as a consequence of a Termination Event or in order to otherwise monitor or exercise its rights under the Loan Agreement.

5.3.2

The Borrower must, within five Banking Days of a request to do so, reimburse the Lender for any statutory written reminder and debt collection costs in accordance with the law.

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