Common use of Credit Lines Clause in Contracts

Credit Lines. The Bank shall assign a maximum Credit Line to the Customer when the Account is opened (“Master Credit Line”). The Master Credit Line shall be the aggregate total allowable indebtedness that the Customer may have outstanding at any one time. If the Customer has chosen the “Cardholder Invoicing” option (defined below), a portion of the Master Credit Line will be allocated to each individual Cardholder Account (“Cardholder Credit Line”), at the request of the Customer. If the Customer has chosen the “Consolidated Invoicing” option (defined below), each individual Cardholder Account will be assigned a monthly spending limit. The Master Credit Line and Cardholder Credit Lines may be amended