BALANCE SUBJECT TO INTEREST Sample Clauses

BALANCE SUBJECT TO INTEREST. We figure the interest on your Account by applying the applicable monthly periodic rate to the “average daily balance” of your Account (including current transactions). To get the “average daily balance,” we take the beginning balance of your Account each day, add any new Purchases, Advances, Balance Transfers or fees, and subtract any payments and credits and unpaid interest. This gives us the daily balance. Then, we add up the daily balances for the billing period and divide the total by the number of days in the billing period. This gives us the “average daily balance.” WHEN INTEREST BEGINS TO ACCRUE; GRACE PERIOD. Except as provided below, Purchases, Advances and Balance Transfers begin to accrue interest from the date of the transaction (or, at our option, from the date they are posted to your Account) and continue to accrue interest until the charge is paid in full. You will have at least a 25 day grace period (“Grace Period”) on Purchases. This means you have at least 25 days from the closing date on your monthly statement to pay for new Purchases before we charge interest on them. However, the Grace Period will apply only in billing periods when
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BALANCE SUBJECT TO INTEREST. We figure the interest on your Account by applying the applicable monthly periodic rate to the “average daily balance” of your Account (including current transactions). To get the “average daily balance,” we take the beginning balance of your Account each day, add any new Purchases, Advances, and Quasi Cash Advance, Balance Transfers or fees, and subtract any payments and credits and unpaid interest. This gives us the daily balance. Then, we add up the daily balances for the billing period and divide the total by the number of days in the billing period. This gives us the “average daily balance.” WHEN INTEREST BEGINS TO ACCRUE; GRACE PERIOD. Except as provided below, Purchases, Advances and Quasi Cash Advance, and Balance Transfers begin to accrue interest from the date of the transaction (or, at our option, from the date they are posted to your Account) and continue to accrue interest until the charge is paid in full. You will have at least a 25 day grace period (“Grace Period”) on Purchases. This means you have at least 25 days from the closing date on your monthly statement to pay for new Purchases before we charge interest on them. However, the Grace Period will apply only in billing periods when (1) you paid the previous balance in full or (2) you had a previous balance of $0.00 or a credit balance. (The previous balance is the balance identified as the New Balance on the monthly statement for the previous billing period.) When the Grace Period applies, we will not impose interest on (1) any new Purchases if we receive the full New Balance on the monthly statement for that billing period by the due date shown on that statement or (2) the portion of the Purchase balance repaid if we receive only part of the New Balance by the due date. There is no Grace Period within which you can avoid interest on Advances, Quasi Cash Advance or Balance Transfers. AUTHORIZATION OF TRANSACTIONS; LIMITATION OF LIABILITY. We are not obligated to authorize any transaction (including Purchases, Advances, Quasi Cash Advance or Balance Transfers) under the following circumstances or any other circumstances which we deem necessary: (1) your Credit Limit has been exceeded or would be exceeded by the transaction; (2) you have failed to pay amounts owed to us when due or have failed to follow any terms of this Agreement; (3) you have notified us promptly that your Card or Credit Checks have been lost or stolen or may be used by an unauthorized person; (4) your Account has been c...
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BALANCE SUBJECT TO INTEREST the (a) Revolving Loans Balance, plus (b) payments by Lender on account of Letters of Credit, plus (c) the Term Loan Balance, plus (d) any other payments made by Lender arising hereunder for which Borrowers are liable to Lender.
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Related to BALANCE SUBJECT TO INTEREST

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