Common use of A Current Account Clause in Contracts

A Current Account. showing what You owe Us or We owe You. Its balance may suggest that You have paid charges You owe to Us but this is only a notional position. We will not regard Fees as paid unless this Agreement ends with all other amounts You owe under it having also been paid as well as such Fees. Any amount unpaid when the Agreement ends will be regarded as representing unpaid Fees save to the extent that it exceeds Fees incurred during the period of the Agreement. No interest is due on any amount We owe. If You owe more than the amount worked out by applying the Prepayment Percentage and High Involvement to the Unpaid Approved Debts at any time You will pay Us the difference on demand;

A Current Account. showing what You owe Us or We owe You. Its balance may suggest that You have paid charges You owe to Us but this is only a notional position. We will not regard Fees fees as paid unless this Agreement ends with all other amounts You owe under it having also been paid as well as such Fees. Any amount unpaid when the Agreement ends will be regarded as representing unpaid Fees save to the extent that it exceeds Fees incurred during the period of the Agreement. No interest is due on any amount We owe. If You owe more than the amount worked out by applying the Prepayment Percentage and High Involvement to the Unpaid Approved Debts at any time You will pay Us the difference on demand;