Common use of Overlimit fee Clause in Contracts

Overlimit fee. If the balance on any Cardholder Account exceeds the Cardholder Account Credit Limit or the balance on any VPA Account exceeds the VPA Account Credit Limit at any time during the Account Statement period, a $29.00 fee will be charged to that Cardholder Account or VPA Account on the Statement Date and on each subsequent Statement Date if the balance remains over the limit. A maximum of one “Overlimit Fee” per Cardholder Account or VPA Account will be charged per Account Statement period.