Payment Application Clause Samples
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Payment Application. All payments received shall be applied first to fees and costs of collection, if any, then to accrued and unpaid interest and then in reduction of the outstanding principal balance. RAF will allocate your payments and credits to pay off balances at lower periodic interest rates before paying off balances at higher periodic interest rates. Billing Address and Name: You must notify RAF of any changes in your mailing address and/or name by contacting RAF at (▇▇▇) ▇▇▇-▇▇▇▇ or any subsequent telephone number as may be shown on your Billing Statement. For your protection, RAF may require written confirmation of your address or name change(s). RAF will mail your Billing Statement to only one address. Changes to Your Account Agreement and Credit Limit: Except as otherwise prohibited by law, at RAF’s discretion, RAF may change your credit limit, Maturity Date, fees, costs, interest rate, Special Promotion, or other terms of your Agreement at any time. RAF will notify you of any change to your Agreement either by sending you a separate notice or through your Billing Statement. A change may take effect before you receive notification from RAF. You may request a change to your credit limit by contacting RAF at (▇▇▇) ▇▇▇-▇▇▇▇ or at any subsequent telephone number as may be shown on your Billing Statement. RAF may require additional documentation from you before approving or denying changes you request to your credit limit. RAF can add or delete provisions relating to your Agreement and to the nature, extent and enforcement of the rights and obligations RAF or you may have relating to this Agreement. These changes are binding on you. In the event any change will cause a fee, rate or minimum payment to increase (other than due to a change in the Prime Rate, expiration of a Special Promotion or event of default ), RAF will mail you written notice at least 15 days before the beginning of the billing period in which the change will become effective. If you do not agree to the change, you must notify RAF in writing within 25 days after the effective date of the change and pay RAF the total outstanding balance under the terms of the unchanged Agreement. Any charges made pursuant to this Agreement by you after the effective date of the change shall be deemed acceptance by you of the change, even if the 25 days have not expired.
Payment Application. The manner in which Lender accounts for the Obligations or applies payments for its regulatory or accounting purposes shall not change the Borrower's legal liability or the manner of application as governed by this Agreement.
Payment Application. If we cannot collect on your check or other payment item you send us to pay on your Account, we may post as an Advance transaction an amount equal to the credit previously given to you for such check or payment item and we may charge interest on this amount from the date your Account originally was credited for the payment. After a payment has been made, we reserve the right to withhold available credit in the amount of the payment for 7 business days. Any credit available before the payment is made will continue to be available for use during this time.
Payment Application. All payments paid by the Borrower and received by the Lender will first be applied in payment of the interest calculated at the Interest Rate, and second in payment of the Principal Amount. Such payments will be applied in the order in which they became due. However, if the Borrower defaults on payment, then the Lender will have the right to apply any payments received while in default as the Lender so chooses.
Payment Application. The Lender must apply estimated loss payments first to the unsecured principal of the guaranteed portion of the debt and then to the unsecured interest of the guaranteed portion of the debt. In the event the court attempts to direct the payments to be applied in a different manner, the Lender will immediately notify the USDA servicing office.
Payment Application. The Lender must apply estimated loss payments first to the unsecured principal of the guaranteed por- tion of the debt and then to the unsecured interest of the guaranteed portion of the debt. In the event the bankruptcy court at- tempts to direct the payments to be applied in a different manner, the Lender will imme- diately notify the FmHA or its successor agency under Public Law 103–354 servicing office.
Payment Application. Any and all payments on account of the Obligations will be applied first to accrued and unpaid interest and second to outstanding principal and other sums due hereunder. If Borrower makes a payment or payments and such payment or payments, or any part thereof, are subsequently invalidated, declared to be fraudulent or preferential, set aside or are required to be repaid to a trustee, receiver, or any other person under any bankruptcy act, state, provincial or federal law, common law or equitable cause, then to the extent of such payment or payments, the Obligations or part thereof hereunder intended to be satisfied shall be revived and continued in full force and effect as if said payment or payments had not been made.
Payment Application. Borrower acknowledges that one or more Guaranties have been entered into which guarantee a portion of the Indebtedness under the Note. Upon partial satisfaction of the Indebtedness, Borrower expressly waives any right to designate the portion of the Indebtedness that is satisfied by such payment.
Payment Application. All payments made shall first be applied to any outstanding balances of any kind including additional rent charges and/or any other charges due under this lease.
Payment Application. Within seven (7) calendar days of completion of the services the Contractor will submit its payment application to the City.