Budget facility Sample Clauses
A Budget Facility clause establishes a predefined financial limit or credit line that a party can access for specific purposes under an agreement. Typically, this clause outlines the maximum amount available, the conditions for drawing funds, and any repayment or reporting obligations associated with its use. Its core practical function is to provide controlled access to funds, ensuring that expenditures remain within agreed parameters and reducing the risk of overspending or unauthorized financial commitments.
Budget facility. 22.1 On your request and at our discretion, we may make the budget facility available to you.
22.2 This budget facility entitles you to pay for transactions over an extended period as stipulated by you according to our guidelines.
22.3 Fluctuations in interest rates may cause the period of payment to be extended or reduced.
22.4 Your first budget instalment on a purchase made using your budget facility will only be deducted from your straight facility on the second billing date after the date of your purchase. You can make additional payments into your budget facility at any stage during the budget period.
22.5 If you choose to make use of the budget facility, the total amount outstanding, the monthly repayment, the current interest rate and other charges will be shown on your monthly account statement.
22.6 If you fail to pay any one instalment by the due date, the whole amount may become immediately due and payable.
22.7 Your monthly budget instalment is debited from your straight facility and not your budget facility.
22.8 You must expressly instruct us if payments made into your straight facility are intended to be allocated to the budget facility.
Budget facility. 8.1 We may, at our sole discretion, make the budget facility available to you.
8.2 The budget facility entitles you to pay for transactions over an extended period as stipulated by us.
8.3 If you choose to make use of the budget facility, the total amount outstanding, the monthly repayment, the current interest rate and other charges will be shown on your monthly statement.
8.4 If you fail to pay any one instalment by the due date, the whole amount may become immediately due and payable.
8.5 You may make additional payments to your budget account without penalty.
Budget facility. 24.1. On your request and at our discretion, we may make the budget facility available to you.
24.2. This budget facility entitles you to pay for transactions over an extended period as stipulated by you according to our guidelines.
24.3. Fluctuations in interest rates may cause the period of payment to be extended or reduced.
24.4. Your first budget installment on a purchase made using your budget facility will only be deducted from your straight facility on the second billing date after the date of your purchase. You can make additional payments into your budget facility at any stage during the budget period.
24.5. If you choose to make use of the budget facility, the total amount outstanding, the monthly repayment, the current interest rate and
24.6. If you fail to pay any one installment by the due date, the whole amount may become immediately due and payable.
24.7. Your monthly budget installment is debited from your straight facility and not your budget facility.
24.8. You must expressly instruct us if payments made into your straight facility are intended to be allocated to the budget facility.
Budget facility. Subject to the following additional terms and conditions of use and our approval beforehand:
11.1 you may make Card Transaction payments over an extended period;
11.2 the principal sum of goods purchased over the extended period together with other charges must be paid for in monthly payments and the amount of these payments will be stipulated by us; and
11.3 you may at any date earlier than the date stipulated repay more than the amount stipulated by us.
Budget facility. 9.1 On your request, we may, at our discretion, make the budget facility available to you.
9.2 This budget facility entitles you to pay for transactions over an extended period as stipulated by you according to our guidelines.
9.3 If you choose to make use of the budget facility, the total amount outstanding, the monthly repayment, the current interest rate and other charges will be shown on your monthly account statement.
9.4 If you fail to pay any one installment by the due date, the whole amount may become immediately due and payable.
9.5 You may make additional payments to your budget account without penalty.
9.6 Your monthly budget installment is debited from your straight facility and not your budget facility.
Budget facility. The account holder will be entitled to repay an amount due pursuant to any transaction over an extended period (“budget facility”), subject to the following terms:
10.1 the account holder will inform Investec if any transaction is to be repaid through the budget facility;
10.2 Investec will stipulate the maximum extended credit period and the amount of the monthly payments whereby the capital plus interest (as determined in accordance with the provisions of clause 9) and other charges that may be payable in terms of clause 6 must be repaid;
10.3 the interest payable in respect of any transaction effected by the client using the budget facility will accrue in respect of such transaction, from the date on which the transaction is effected by the client;
10.4 failure by the account holder to pay any instalment in respect of the budget facility on the due date shall render the whole amount subject to such budget facility immediately due and payable to Investec;
10.5 the account holder may at any date earlier than that stipulated, repay the whole or any portion of the outstanding balance of the capital, interest and other charges, and must contact Investec to facilitate this payment; and
10.6 the budget facility will not be available in respect of any transaction using the Investec Select card.
Budget facility. 24.1 On your request and at our discretion, we may make the budget facility available to you.
24.2 This budget facility entitles you to pay for transactions over an extended period as stipulated by you according to our guidelines.
24.3 Fluctuations in interest rates may cause the period of payment to be extended or reduced.
24.4 Your first budget instalment on a purchase made
24.5 If you choose to make use of the budget facility, the total amount outstanding, the monthly repayment, the current interest rate and other charges will be shown on your monthly account statement.
24.6 If you fail to pay any one instalment by the due date, the whole amount may become immediately due
24.7 Your monthly budget instalment is debited from your straight facility and not your budget facility.
24.8 You must expressly instruct us if payments made into your straight facility are intended to be allocated to the budget facility.
Budget facility. We charge interest for budget facility transactions from the date of the transaction. The interest rate is the same as the interest rate on your credit card.