Minimum Balance Due Sample Clauses

The Minimum Balance Due clause establishes the lowest amount a borrower or account holder must pay by a specified due date to keep their account in good standing. Typically, this clause applies to credit card agreements or loan repayment schedules, where the minimum payment may be calculated as a percentage of the outstanding balance or a fixed dollar amount, whichever is greater. Its core practical function is to ensure regular payments are made, reducing the risk of default and helping lenders manage credit risk while providing borrowers with a manageable payment threshold.
Minimum Balance Due. You must make a minimum monthly payment (Minimum Balance Due) by the Payment Due Date for each Statement, in an amount equal to the Minimum Balance Due. The Minimum Balance Due is as follows: a) a payment equal to the greater of $10.00 or 3% (or 1% in the case of the ATB Alberta Agri-Industry BusinessCard Mastercard) of the New Balance shown on the Statement; or b) the New Balance shown on the Statement. However, if the New Balance on the Statement is less than $10.00, it must be paid in full by the Payment Due Date. In addition, any amounts which exceed the Business Credit Limit must be paid immediately (whether or not a Statement disclosing this excess has been provided). All amounts owed to ATB under this Agreement must be paid in Canadian currency.
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Minimum Balance Due. The Primary Cardholder(s) must make a minimum monthly payment by the Payment Due Date for each Statement in an amount at least equal to the Minimum Balance Due. The “Minimum Balance Due” for each Statement is set out in the Rate and Fee Schedule. Any amounts which exceed the Credit Limit must be paid immediately (whether or not a Statement disclosing the excess has been provided). You may lose the benefit of any lower annual interest and/or credit rate promotional offers in which you are participating if you do not pay the Minimum Balance Due by the Payment Due Date for any Statement. As described in the Rate and Fee Schedule, the applicable annual interest and/or credit rates that apply to the Card Account (for Purchases and Cash Advances) may increase from a preferred rate to a default rate (if applicable), or from a standard rate to a default rate, if you do not pay at least the Minimum Balance Due by the Payment Due Date shown on your Statement. From time to time, we may advise the Primary Cardholder(s) that the requirement to pay the Minimum Balance Due is waived. In that case even though the Primary Cardholder(s) are not required to make a payment for that Billing Period, interest at the annual interest rate(s) applicable and other credit charges will continue to apply. All amounts owed to Neo under this Agreement must be paid in Canadian currency.
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Minimum Balance Due. The Primary Cardholder(s) must make a minimum monthly payment by the Payment Due Date for each Statement in an amount at least equal to the Minimum Balance Due. The Minimum Balance Due for each Statement will be equal to: (a) $10.00 plus all outstanding interest and fees on your Card Account; plus (b) Any amount that exceeds the Credit Limit or Any amount that is overdue, whichever is greater. However, if the New Balance on the Statement is less than $10.00, it must be paid in full by the Payment Due Date. Any amounts which exceed the Credit Limit must be paid immediately (whether or not a Statement disclosing the excess has been provided). You may lose the benefit of any lower annual interest rate promotional offers in which you are participating if you do not pay the Minimum Balance Due by the Payment Due Date for any Statement. From time to time, we may advise the Primary Cardholder(s) that the requirement to pay the Minimum Balance Due is waived. In that case even though the Primary Cardholder(s) are not required to make a payment for that Billing Period, interest at the annual interest rate(s) applicable will continue to apply. All amounts owed to ATB under this Agreement must be paid in Canadian currency, unless your Card is a US Dollar MasterCard in which case all amounts owed to ATB under this Agreement must be paid in US currency.
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Minimum Balance Due. You must make a minimum monthly payment (Minimum Balance Due) by the Payment Due Date for each Statement, as follows: (a) by making a partial payment equal to the greater of $10.00 or 3% (or 1% in the case of the ATB Alberta Agri-Industry BusinessCard MasterCard) of the New Balance shown on the Statement; (b) by paying the New Balance shown on the Statement; or (c) by making any payment greater than the amount in 5.1 (a). If the New Balance on the Statement is less than $10.00, it must be paid in full. In addition, any amounts which exceed the Business Credit Limit must be paid immediate- ly (whether or not a Statement disclosing this excess has been provided).
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Minimum Balance Due. The Primary Cardholder(s) must make a minimum monthly payment by the Payment Due Date for each Statement in an amount at least equal to the Minimum Balance Due. The “
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Minimum Balance Due. The Primary Cardholder(s) must make a minimum monthly payment by the Payment Due Date for each Statement in an amount at least equal to the Minimum Balance Due. The Minimum Balance Due for each Statement will be equal to: a) $10.00 plus all outstanding interest and fees on your Card Account; plus b) any amount that exceeds the Credit Limit; plus c) any amount that is overdue. However, if the New Balance on the Statement is less than $10.00, it must be paid in full by the Payment Due Date. Any amounts which exceed the Credit Limit must be paid immediately (whether or not a Statement disclosing the excess has been provided). You may lose the benefit of any lower annual interest rate promotional offers in which you are participating if you do not pay the Minimum Balance Due by the Payment Due Date for any Statement. From time to time, we may advise the Primary Cardholder(s) that the requirement to pay the Minimum Balance Due is waived. In that case even though the Primary Cardholder(s) are not required to make a payment for that Billing Period, interest at the annual interest rate(s) applicable will continue to apply.
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Related to Minimum Balance Due

  • Minimum Balance ▇▇▇▇▇▇▇▇ agrees to maintain a minimum balance of funds in the Settlement Account as Processor may specify to Merchant in writing from time to time.

  • Minimum Cash Balance Licensee shall fund the Facility Checking Account --------------------- with an initial amount equal to $25,000.00 and thereafter Licensee shall provide the working capital required by Section I(H) of this Agreement

  • Minimum Interest Coverage The Borrower will not permit the ratio of EBITDA to Consolidated Interest Expense as at any fiscal quarter end for the four fiscal quarters then ending to be less than 3.00 to 1.0.

  • Minimum Balance Requirements To be a member and maintain Accounts with Us You must purchase 1 share in the Credit Union. The par value of a share in this Credit Union is $5.00. If the balance in Your primary share Account drops below 1 share ($5.00), at any time, We may, at Our option, close Your Account. Nonsufficient Funds Returns. Any share draft or pre-authorized transfer, or transaction made through the use of a debit card, or other electronic means, as is applicable (including any in-person transaction), that is presented to Us for payment on Your Account when Your Account lacks sufficient collected funds to pay any such item may, at Our option, be returned for nonsufficient funds or We may honor any such item and charge You a fee for doing so. Overdraft Balance Calculation. When processing transactions that debit or credit Your Account, We start each Business Day with Your final Account balance from the preceding Business Day. The final balance takes into account all of the debit and credit transactions that were settled that Business Day pursuant to Our Funds Availability Policy, as well as any other debits or credits to Your Account that were finally settled that day, as described above in the "Deposit of Items" and "Collection and Processing of Items" sections of the Account Agreement. This starting balance at the beginning of a Business Day (the preceding Business Day's final balance) is sometimes referred to as Your "actual balance."

  • Maximum or Minimum Interest Rate If specified on the face hereof, this Note may have either or both of a Maximum Interest Rate or a Minimum Interest Rate. If a Maximum Interest Rate is so designated, the interest rate for a Floating Rate Note cannot ever exceed such Maximum Interest Rate and in the event that the interest rate on any Interest Reset Date would exceed such Maximum Interest Rate (as if no Maximum Interest Rate were in effect) then the interest rate on such Interest Reset Date shall be the Maximum Interest Rate. If a Minimum Interest Rate is so designated, the interest rate for a Floating Rate Note cannot ever be less than such Minimum Interest Rate and in the event that the interest rate on any Interest Reset Date would be less than such Minimum Interest Rate (as if no Minimum Interest Rate were in effect) then the interest rate on such Interest Reset Date shall be the Minimum Interest Rate. Notwithstanding anything to the contrary contained herein, the interest rate on a Floating Rate Note shall not exceed the maximum interest rate permitted by applicable law.