Credit Limit and Available Credit Clause Samples

Credit Limit and Available Credit. Your initial Credit Limit is disclosed to you when you open your Account on the application approval page. You understand that we may adjust your Credit Limit at any time, including reducing or terminating your borrowing privileges at any time without prior notice to you, except as prohibited by law. Your “Available Credit” is the amount of credit that is available for you to make transactions with your Card at any given time. Your Available Credit is equal to the Credit Limit minus the outstanding balance on your Account and any holds, accrued fees or finance charges, and other charges that have not posted to your Account. You agree not to exceed your Credit Limit or Available Credit unless authorized by us. We may, in our sole and absolute discretion, honor your request for a transaction that will cause you to exceed your Credit Limit or Available Credit (without increasing your total Credit Limit). If we do, all the provisions of this Card Agreement will apply to the total balance on your Account, including amounts in excess of the Credit Limit. Finance charges and other fees will apply to the excess as they do to other balances on your Account. If you exceed your Credit Limit, you must immediately repay the amount in excess of your Credit Limit.
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Credit Limit and Available Credit. The maximum permitted outstanding balance for your Account (including principal, accrued Interest and fees, whether billed or unbilled) is your credit limit (“Credit Limit”). Your credit available (“Available Credit”) is the Credit Limit less your outstanding balance and any amounts we at our sole discretion may add to keep your outstanding balance below your Credit Limit, such as Interest Charges and
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Credit Limit and Available Credit the Summary of rates and Fees will indicate your initial Credit limit. Your monthly statement will indicate your current Credit limit as well as your available Credit as of the date of the monthly statement. You can also obtain information about your Credit limit through CIBC online Banking or CIBC mobile Banking. Your Credit limit is shared among all Cards on your Credit Card account. once a transaction is authorized, your available Credit will decrease by the amount authorized, whether or not you receive the goods or services at that time. We may decrease your Credit limit at any time without prior notice.
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Credit Limit and Available Credit. The maximum permitted outstanding balance for your Account (including principal, accrued Interest and fees, whether billed or unbilled) is your credit limit (“Credit Limit”). Your credit available (“Available Credit”) is the Credit Limit less your outstanding balance and any amounts we at our sole discretion may add to keep your outstanding balance below your Credit Limit, such as Interest Charges and Fees incurred but not yet billed. The initial Credit Limit for your Account will be equal to the amount of the Deposit that you make with us, which must be at least $200 (see “Security Interest” above). However, if you choose to deposit more than $200, your initial deposit and corresponding Credit Limit may not exceed
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Credit Limit and Available Credit. Your initial Credit Limit will be indicated in the Disclosure State- ment. The monthly statements you receive will indicate your current Credit Limit and the amount of credit available for you and any Ad- ditional Cardholder(s) to use (“Avail- able Credit”) as of the last day of the statement period. As the charges to your Account increase, your Available Credit will decrease. As you make payments to your Account, your Available Credit will increase. Your Available Credit is calculated by deducting the amount you owe us from your Credit Limit, including the amount of any pur- chases that have been authorized but not yet posted to your Account as well as any Deferred Payment Purchase Plan amounts, and adding any payments or amounts credited to your Account. We may, from time to time, allow the amount you owe to us to exceed your Credit Limit by authorizing transactions in excess of your Credit Limit, but are not required to do so. In instances where your balance exceeds your Credit Limit, an over limit fee will be charged to your Account, as set out in the Disclosure Statement. You agree that you must repay any amount which exceeds your Credit Limit once we have indicated to you that you have exceeded your Credit Limit. We may at any time refuse to authorize transactions that will result in your Credit Limit being exceeded. We will not increase your Credit Limit without your prior consent. We may, however, ask you whether you want an increase in your Credit Limit. You may also ask us at any time to review your eligibility for a Credit Limit increase. You under- stand that your Available Credit will decrease by the amount of any authorized transaction (including any Deferred Payment Purchase Plan amounts), whether or not you receive goods or services at that time and whether or not such amounts are included as part of your minimum payment for any par- ticular monthly statement. We may decrease your Credit Limit without prior notice at any time in our sole discretion.
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Credit Limit and Available Credit 
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Related to Credit Limit and Available Credit

  • Credit Limit The following criteria constitute Duke Energy Ohio’s creditworthiness requirements for the SSO Suppliers to cover the Total Exposure Amount: (a) For SSO Suppliers to be granted a Credit Limit without delivering a Total Exposure Amount Guaranty or other Performance Assurances acceptable to Duke Energy Ohio, in the case of an SSO Supplier organized under the laws of the United States, the SSO Supplier must (1) be rated by S&P, Moody’s or Fitch, and (2) have a minimum senior unsecured debt rating (or, if unavailable, corporate or issuer rating) equal to the Minimum Rating. If the SSO Supplier is rated by only two rating agencies and the ratings are split, the lower rating will be used. If the SSO Supplier is rated by three rating agencies and the ratings are split, the lower of the two highest ratings will be used; provided that, in the event that the two highest ratings are common, such common rating will be used. If the SSO Supplier and an Affiliate(s) are both winning bidders in the Solicitation for the provision of SSO Supply, then the SSO Supplier or its Guarantor, as applicable, and the Affiliate(s) will proportionally share the maximum level of the Credit Limit using the highest rating as determined for the SSO Supplier or its Guarantor, as applicable, and the Affiliate(s). The maximum level of the Credit Limit to cover the Total Exposure Amount will be determined based on the following table: Credit Rating of the SSO Supplier or its Guarantor Maximum Credit Limit (calculated as the lesser of the percentage of TNW and the applicable Credit Limit Cap below) S&P ▇▇▇▇▇’▇ Fitch Percentage of TNW Credit Limit Cap A- and above A3 and above A- and above 16% $60,000,000 BBB+ Baa1 BBB+ 10% $50,000,000 BBB Baa2 BBB 10% $40,000,000 BBB- Baa3 BBB- 8% $30,000,000 BB+ Ba1 BB+ 2% $5,000,000 BB Ba2 BB 1% $2,500,000 BB- and below Ba3 and below BB- and below 0% $0 The SSO Supplier will be required to post cash or a Letter of Credit for the Margin due Duke Energy Ohio as set forth in Section 5.7 of this Agreement. (b) For SSO Suppliers delivering a Total Exposure Amount Guaranty, in the case of a Guarantor organized under the laws of the United States, the maximum level of the Credit Limit to cover the Total Exposure Amount that could be granted based on the Total Exposure Amount Guaranty will be determined in accordance with subsection (a) above, with reference to the credit rating of the Guarantor, except that the Credit Limit granted to the SSO Supplier will not exceed the amount of the Total Exposure Amount Guaranty. (c) For an SSO Supplier or Guarantor, if applicable, that has not been organized under the laws of the United States, the following standards will apply: i. the SSO Supplier must supply such evidence of creditworthiness as to provide Duke Energy Ohio with comparable assurances of creditworthiness as applicable above for SSO Suppliers that have been organized under the laws of the United States; or ii. if the SSO Supplier is providing a Total Exposure Amount Guaranty, the Guarantor of an SSO Supplier must supply such evidence of creditworthiness as to provide Duke Energy Ohio with comparable assurances of creditworthiness as applicable above for Guarantors of SSO Suppliers that have been organized under the laws of the United States. Duke Energy Ohio may reject such Guarantors that do not meet the creditworthiness requirements. (d) All SSO Suppliers or Guarantors of SSO Suppliers, if applicable, that have not been organized under the laws of the United States must, in addition to all documentation required elsewhere in this Section 5.6, supply the following to Duke Energy Ohio: i. For an SSO Supplier: (1) a legal opinion of counsel qualified to practice in the foreign jurisdiction in which the SSO Supplier is organized that (A) the SSO Supplier is duly incorporated and existing in such foreign jurisdiction; (B) this Agreement is the binding and enforceable obligation of the SSO Supplier in such foreign jurisdiction and does not violate any local law or the SSO Supplier’s organizational or governing documents; and (C) all authorizations, approvals, consents, licenses, exemptions or other requirements of governmental, judicial or public bodies in such foreign jurisdiction have been obtained, and all execution formalities have been duly completed, necessary for the enforcement and validity of this Agreement and the performance by the SSO Supplier of its obligations hereunder; and (2) the sworn certificate of the corporate secretary (or similar officer) of such SSO Supplier that the Person executing this Agreement on behalf of the SSO Supplier has the authority to execute this Agreement and that the governing board of such SSO Supplier has approved the execution of this Agreement. Duke Energy Ohio will have full discretion, without liability or recourse to the SSO Supplier, to evaluate the sufficiency of the documents submitted by the SSO Supplier; or ii. For the Guarantor of an SSO Supplier: (1) a legal opinion of counsel qualified to practice in the foreign jurisdiction in which the Guarantor is organized that (A) the Guarantor is duly incorporated and existing in such foreign jurisdiction; (B) the Total Exposure Amount Guaranty is the binding and enforceable obligation of the Guarantor in such foreign jurisdiction and does not violate any local law or the Guarantor’s organizational or governing documents; and

  • Credit Limits We may establish a Total Credit Limit (the “Total Credit Limit”) and a Cash Advance Limit (the “Cash Advance Limit”) for you and increase or decrease such limits as we deem appropriate from time to time. Your initial Total Credit Limit and Cash Advance Limit are shown on the folded mailer containing your Card, or on the approval notice. Your Total Credit Limit and Cash Advance Limit will also appear on your Account Statement (as defined below). Your Total Credit Limit is the maximum amount of credit that you can have outstanding on your Account at any time. The Cash Advance Limit is that amount you have available for Cash Advances. The amount of credit available in your Cash Advance Limit will never exceed the amount of credit available inyour TotalCredit Limit. Without limiting the foregoing, we may reduce the amount of credit available under the Total Credit Limit or the Cash Advance Limit by the amount of any request for authorization from a merchant or financial institution even if the amount has not yet posted to the Account. You agree not to use, or allow anyone else to use, the Card or Account in any way that would cause the balance of purchases on the Card or Account, to exceed these limits. We are not under any circumstances obligated to approve any transaction or extend credit if doing so would exceed any applicable limit; but if we do, you agree to repay all charges that exceed any limits, plus other applicable Charges in accordance with the terms of this Agreement. Fees for exceeding the limits appear in the Rates and Fees section below. We may change your limits from time to time. We base that decision on a variety of factors such as your payment and transaction history with us, and information we receive from third parties,including credit reporting agencies.The amounts shown on your Statement as available credit do not take into account Purchases, Balance Transfers, Cash Advances, interest charges, fees, any other transactions, or credits which post to your Account after the Closing Date (as defined below) of that Statement. The total outstanding balance on your Account plus authorizations at any time must not be more than your Total Credit Limit. The total outstanding balance of your Cash Advances (plus authorizations) must not be more than your Cash Advance Limit. Each time you attempt a transaction which results in your applicable outstanding balance (plus authorizations) exceeding a limit, we may: (a) permit the transaction without raising your Limit; (b) permit the transaction and treat the amount of the transaction that is more than the limitasimmediately due; or(c) refusetopermitthetransaction. If we refuse to permit the transaction, we may advise the person who attempted the transaction that ithas been refused. If we refuse to permit a Bank Card Check, we may do so by advising the person presenting the Bank Card Check that credit has been refused, that there are insufficient funds to pay the Bank Card Check, or in any other manner. In the event you exceed any limit, we may elect to set your APRs for Purchases and Cash Advances to different Penalty APRs. We will provide you with a minimum of forty-five (45) days advance notice.

  • FUNDING AVAILABILITY This Contract is contingent upon the continued availability of funding. If funds become unavailable through the lack of appropriations, legislative or executive budget cuts, amendment of the Appropriations Act, state agency consolidation, or any other disruptions of current appropriations, DFPS will reduce or terminate this Contract.