Common use of Automatic Debit Option Clause in Contracts

Automatic Debit Option. If you so elect by registering a Monthly/Recurring payment order online or by contacting customer service (“Debit Instructions”), the method of payment will be automatic debit to a deposit account that you maintain with us and designate for that purpose in the Debit Instructions (the “Designated Account”). Pursuant to the Debit Instructions, we will, on each Payment Due Date, debit the Designated Account in the amount of (i) the balance of the last statement; or

Automatic Debit Option. If you so elect by registering a Monthly/Recurring payment order online or by contacting customer service (“Debit Instructions”), the method of payment will be automatic debit to a deposit account that you maintain with us and designate for that purpose in youmaintainwithusand designateforthatpurposein the Debit Instructions (the “Designated Account”). Pursuant to the Debit Instructions, we will, on each Payment Due Date, debit the Designated Account in the amount of (i) the balance of the last statement; or (ii) the current balance; or (iii) theTotal Minimum Payment Due; or