case stride versus parker April in court Lord keeper a mortgage be make with  interest at per cent provide that if the interest be not pay within two month  after due then to pay pound S this be in nature of a penalty and the court  will relieve against it otherwise if pound S per cent be reserve original and  to be lessen to per cent if duly pay within two month after due the bill be to  foreclose a mortgage the interest by the deed be to be per cent per and and  make Payable halfyearly and if not pay by the space of two month after the  time of payment then to pay after the rate of S per cent per and for increase  of interest the interest be run great in arrear the question be after what  rate the interest shall be compute upon the redemption of the mortgage the  court decree interest to be compute at the rate of pound per cent per and only  Reg lib b fol and take a difference where the interest be reserve at pound per  cent but to be reduce to pound per cent if pay halfyearly there if the party  will have the benefit of low or reduce the interest he must comply Vernon  chancery case er p with the time of payment and so decree in the Lord hallifax  case Vernon chancery case ante p but where the interest be to be increase if  not pay at the day that be but in the nature of a penalty and relievable in  equity Qure yet for the agreement of the party seem to be the same in either  case and whether interest be to be reduce upon compliance with the time of  payment or to be advance in default thereof seem only to be a difference in  the express one and the same thing but the distinction take in this case be  also recognize in Holles v wise ante Nicholls v Maynard atk Bonafous v Rybot  burr Bl command et vide Jori v Cox pre Ch brown v Barkham p wms in Seton v  Slade Ves Eldon Lord chancellor be report to have say that in either way of  reserve the high interest it will be regard in equity as penalty and be  relieve against on payment of the low rate of interest with interest thereon