Common use of Calculation Method Clause in Contracts

Calculation Method. Except as set out under “Statements” below, we calculate AIR MILES Reward Miles at the end of each billing period for your card account and Miles earned will be credited to your Collector account after the billing period in which the purchases are posted to your card account. Subject to these terms and conditions, we calculate Miles based on the aggregate amount of purchases posted to your card account each billing period, less returns and adjustments. However, Miles are only issued in whole numbers and will only be issued when and if an incremental Mile is earned in accordance with the applicable earn rate. Any remaining dollar amount that is less than the applicable earn rate for the issuance of one Mile at the end of the billing period will be disregarded and will not be accumulated or included in the calculation of Miles for the next billing period. If the card account statement shows an aggregate of $2699 in purchases made at merchants that are not eligible Partners after subtracting returns and adjustments, 134 Miles would be issued ($2680 ÷ 20 = 134 Miles). The remaining $19 is less than the $20 required to earn one Mile. The $19 will be disregarded and not accumulated or included in the calculation of Miles for future billing periods. If the same card account statement also shows an aggregate of $1899 in purchases made at eligible Partners after subtracting returns and adjustments, 126 Miles would be issued ($1890 ÷ 15 = 126 Miles) would be issued. The remaining $9 is less than the $15 required to earn one Mile. The $9 will be disregarded and not accumulated or included in the calculation of Miles for the next billing period. In this example, the total Miles earned for this billing period would be 260 (134 + 126 = 260 Miles). If the card account statement shows an aggregate of $2699 in purchases made at merchants that are not eligible Partners after subtracting returns and adjustments, 179 Miles would be issued ($2685 ÷ 15 = 179 Miles). The remaining $14 is less than the $15 required to earn one Mile. The $14 will be disregarded and not accumulated or included in the calculation of Miles for future billing periods. If the same card account statement also shows an aggregate of $1899 in purchases made at eligible Partners after subtracting returns and adjustments, 189 Miles would be issued ($1890 ÷ 10 = 189 Miles) would be issued. The remaining $9 is less than the $10 required to earn one Mile. The $9 will be disregarded and not accumulated or included in the calculation of Miles for the next billing period. In this example, the total Miles earned for this billing period would be 368 (179 + 189 = 368 Miles). We will set an annual purchase bonus annual reset date (the reset date) for your card account which will be shown on the monthly statement for your card account. Subject to these terms and conditions, you can earn a purchase bonus of 1,000 Miles if you reach a net purchases threshold of $50,000 prior to the reset date. A particular purchase must have a transaction date that is prior to the reset date and must be posted to your account in order to be considered in the calculation of the net purchases threshold. On each reset date, the calculation of the annual net purchases threshold ends, resets to zero, and you must qualify again in the new annual period. Purchases transacted on the reset date will be included in the calculation of net purchases for the next annual period and not the previous annual period. In the case of returns or adjustments that reduce the amount of net purchases below a previously achieved threshold for which bonus Miles were previously issued,

Calculation Method. Except as set out under “Statements” below, we calculate AIR MILES Reward Miles at the end of each billing period for your card account and Miles ▇▇▇▇▇ earned will be credited to your Collector account after the billing period in which the purchases are posted to your card account. Subject to these terms and conditions, we calculate Miles based on the aggregate amount of purchases posted to your card account each billing period, less returns and adjustments. However, Miles ▇▇▇▇▇ are only issued in whole numbers and will only be issued when and if an incremental Mile is earned in accordance with the applicable earn rate. Any remaining dollar amount that is less than the applicable earn rate for the issuance of one Mile at the end of the billing period will be disregarded and will not be accumulated or included in the calculation of Miles ▇▇▇▇▇ for the next billing period. If the card account statement shows an aggregate of $2699 in purchases made at merchants that are not eligible Partners after subtracting returns and adjustments, 134 Miles would be issued ($2680 ÷ 20 = 134 Miles). The remaining $19 is less than the $20 required to earn one Mile. The $19 will be disregarded and not accumulated or included in the calculation of Miles for future billing periods. If the same card account statement also shows an aggregate of $1899 in purchases made at eligible Partners after subtracting returns and adjustments, 126 Miles would be issued ($1890 ÷ 15 = 126 Miles) would be issued. The remaining $9 is less than the $15 required to earn one Mile. The $9 will be disregarded and not accumulated or included in the calculation of Miles ▇▇▇▇▇ for the next billing period. In this example, the total Miles ▇▇▇▇▇ earned for this billing period would be 260 (134 + 126 = 260 Miles). If the card account statement shows an aggregate of $2699 in purchases made at merchants that are not eligible Partners after subtracting returns and adjustments, 179 Miles would be issued ($2685 ÷ 15 = 179 Miles). The remaining $14 is less than the $15 required to earn one Mile. The $14 will be disregarded and not accumulated or included in the calculation of Miles for future billing periods. If the same card account statement also shows an aggregate of $1899 in purchases made at eligible Partners after subtracting returns and adjustments, 189 Miles would be issued ($1890 ÷ 10 = 189 Miles) would be issued. The remaining $9 is less than the $10 required to earn one Mile. The $9 will be disregarded and not accumulated or included in the calculation of Miles ▇▇▇▇▇ for the next billing period. In this example, the total Miles ▇▇▇▇▇ earned for this billing period would be 368 (179 + 189 = 368 Miles). We will set an annual purchase bonus annual reset date (the reset date) for your card account which will be shown on the monthly statement for your card account. Subject to these terms and conditions, you can earn a purchase bonus of 1,000 Miles if you reach a net purchases threshold of $50,000 prior to the reset date. A particular purchase must have a transaction date that is prior to the reset date and must be posted to your account in order to be considered in the calculation of the net purchases threshold. On each reset date, the calculation of the annual net purchases threshold ends, resets to zero, and you must qualify again in the new annual period. Purchases transacted on the reset date will be included in the calculation of net purchases for the next annual period and not the previous annual period. In the case of returns or adjustments that reduce the amount of net purchases below a previously achieved threshold for which bonus Miles were previously issued,