Common use of Cardholder Clause in Contracts

Cardholder. any individual who is authorised by the Business from time to time to use a Business Charge Card issued by us under this Agreement in his or her name. Cardholder Account: an account opened and maintained by us for each Business Charge Card issued by us and to which the Card Transactions are debited. Cardholder Limit: the sum promptly notified in writing to us by the Business from time to time for the Cardholder per billing cycle being the maximum amount of spending permitted by the Business for the Cardholder using the Business Charge Card. A Cardholder Limit cannot be increased by the Business such that the total of all Cardholder Limits exceeds the Business Limit. Cardholder Statement: a monthly statement of the Card Transactions for a Cardholder Account which will be sent to the Business each month and to be distributed by the Business to the relevant Cardholder(s). Card Transaction: any payment made, or Cash Advance obtained by use of a Business Charge Card (or the number of the Business Charge Card) which is debited to a Cardholder Account.