SKIP PAYMENT Clause Samples

SKIP PAYMENT. You may elect to skip the January payment each year provided the following conditions are observed: (a) Your Account must have been active for each of the six months that immediately precede the month in which the payment will be skipped; (b) Your outstanding Account balance must be within the stated Credit Limit; (c) minimum payments must be current and up to date on Your Account; (d) any past due payment history on your Account must not include more than three instances of a delinquency that is 29 days or less past due, or more than one instance of a delinquency that is 30-59 days past due, or any instance of a delinquency that is equal to or in excess of 60 days past due; and (e) the payment to be skipped must be at least equal to the $15.00 minimum amount. You understand that Finance Charges will continue accruing on the unpaid balance of Your Account at the applicable Periodic Rate until Your balance is paid in full, and that skipping a payment will have the result of increasing the total amount of Finance Charges paid and affect the number of Your scheduled payments.

SKIP PAYMENT. If we make a skip payment option available, you may skip making your payment(s) for certain month(s). If you choose this option, interest will continue to accrue, but no late payment charges will be imposed during the skip period. All credit terms applicable immediately prior to the skip period will again apply once the skip period has expired. If Your Card is Lost or Stolen or if an Unauthorized Use Occurs. You agree to notify us immediately if your Card is ever lost or stolen or if an unauthorized use may have occurred. "Unauthorized use" means the use of Minimum Payment Due; Crediting of Payments. Payments are due in the amount and on the date disclosed on your billing statement. If your payment is received by us on a business day at the address and by the time designated on the billing statement, it will be credited to your account on the date of receipt. If payment is made at any location other than the address designated on the periodic statement, credit for such payment may be delayed up to five (5) days. Payments will be applied in any order we determine, subject to applicable law.

SKIP PAYMENT. If we make a skip payment option available, you may skip making your payment(s) for certain month(s). If you choose this option, interest will continue to accrue, but no late payment charges will be imposed during the skip period. All credit terms applicable immediately prior to the skip period will again apply once the skip period has expired. Default; Acceleration; Credit Suspension; Collection Costs. You will be in default if: (1) you fail to make any payment on time; (2) if you fail to keep any promises you have made under this Agreement or under other Agreements you have with us; (3) if you die; (4) if you file a petition in bankruptcy or have a bankruptcy petition filed against you, or if you become involved in any insolvency, receivership or custodial proceeding; (5) if anyone attempts to take any of your funds held by us via legal process or if you have a judgment or tax lien filed against you; (6) if you make any false, inaccurate, or misleading statements in any credit application or credit update; or (7) if we, in good faith, believe that your ability to repay what you owe is or soon will be impaired, or that you are unwilling to make your payments. Suspension of electronic services and access to share or deposit accounts. Subject to applicable law, we may suspend some or all electronic services and access to your checking or other account(s) if you become delinquent on any of your credit card or deposit obligations to us or you cause a loss to us. We shall not be liable to you in any regard in connection with such suspension of services.

SKIP PAYMENT. If Your Account is in good standing, We may allow You to skip certain payments each year. You will be notified in advance on Your Periodic Statement when a Minimum Monthly Payment due is shown. You may continue to make regular payments if You wish and You will reduce the amount of Finance Charges that You will have to pay if You do so. You will not be charged a Late Charge for those payments skipped. However, Finance Charges will continue to accrue as set forth in this Agreement. The Periodic Statement sent to You immediately following the Skip Payment period will indicate the Minimum Monthly Payment due. At that time, Your Minimum Monthly Payments will return to their regularly scheduled amounts and due dates as specified in this Agreement. You may opt out of this program by contacting Us. LATE CHARGE (EXCEPT VISA). If Your payment is more than 14 days late, You will be charged $25.00.

SKIP PAYMENT. If we make a skip payment option available, you may skip making your payment(s) for certain month(s). If you choose this option, interest will continue to accrue, but no late payment charges will be imposed during the skip period. All credit terms applicable immediately prior to the skip period will again apply once the skip period has expired. A fee of $25.00 may be imposed when you exercise this option. If Your Card is Lost or Stolen or if an Unauthorized Use Occurs. You agree to notify us immediately if your Card is ever lost or stolen or if an unauthorized use may have occurred. "Unauthorized use" means the use of the Card by someone other than you who does not have actual, implied or apparent authority for such use, and from which you receive no benefit. The telephone number to call is (▇▇▇) ▇▇▇-▇▇▇▇. You agree to follow up your call with notice in writing to us at: ▇.▇. ▇▇▇ ▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇-▇▇▇▇. You also agree to assist us in determining the facts, circumstances and other pertinent information relating to any loss, theft or possible unauthorized use of your Card and comply with such procedures as we may require in connection with our investigation. You will have no liability for Mastercard transactions not authorized by you, provided that you have exercised reasonable care in safeguarding the Card from risk of loss or theft, and upon becoming aware of such loss or theft, you promptly report the loss or theft to us. Minimum Payment Due; Crediting of Payments. Payments are due in the amount and on the date disclosed on your billing statement. If your payment is received by us on a business day at the address and by the time designated on the billing statement, it will be credited to your account on the date of receipt. If payment is made at any location other than the address designated on the periodic statement, credit for such payment may be delayed up to five (5) days. Payments will be applied in any order we determine, subject to applicable law. Default; Acceleration; Credit Suspension; Collection Costs. You will be in default if: (1) you fail to make any payment on time; (2) if you fail to keep any promises you have made under this Agreement or under other Agreements you have with us; (3) if you die; (4) if you file a petition in bankruptcy or have a bankruptcy petition filed against you, or if you become involved in any insolvency, receivership or custodial proceeding; (5) if anyone attempts to take any of your funds held by us via le...

SKIP PAYMENT. At Credit Union's option, you may be permitted to skip a minimum monthly payment for one or more months without penalty. Finance Charges will, however, continue to accrue on your unpaid balance during such a time, and your next minimum monthly payment will be calculated according to this Agreement.