Common use of Monthly Minimum Fees Clause in Contracts

Monthly Minimum Fees. If the total Fees payable by you to us in a given calendar month, from the agreed start date are less than the monthly minimum fees set out in the monthly fees schedule in Appendix 1 in Euros or the currency equivalent pursuant to clause 16.3 (the “Monthly Minimum”), then we shall deduct from the Electronic Money you hold with us the difference between the Fees payable for that given calendar month and the Monthly Minimum (or the currency equivalent) (the “Difference”). If the Electronic Money you hold with us does not cover the Difference, we may at our option close your account or request payment in advance of one (1) years’ worth of Monthly Minimums (12 monthly minimum fees in advance plus the outstanding difference(s) of the preceding calendar month(s)) and, if said funds are not received within thirty (30) days, consider the account in default and proceed at our discretion to close it.

Monthly Minimum Fees. If the total Fees payable by you to us in a given calendar month, from the agreed start date are less than the monthly minimum fees set out in the monthly fees schedule in Appendix 1 in Euros Great British Pounds or the currency equivalent pursuant to clause 16.3 (the “Monthly Minimum”), then we shall deduct from the Electronic Money you hold with us the difference between the Fees payable for that given calendar month and the Monthly Minimum (or the currency equivalent) (the “Difference”). If the Electronic Money you hold with us does not cover the Difference, we may at our option close your account or request payment in advance of one (1) years’ worth of Monthly Minimums (12 monthly minimum fees in advance plus the outstanding difference(s) of the preceding calendar month(s)) and, if said funds are not received within thirty (30) days, consider the account in default and proceed at our discretion to close it.