Auto Balance Conversion definition

Auto Balance Conversion means an automatic conversion plan where selected Cardholders who meet the Eligibility Criteria and other criteria as prescribed by Citibank are auto-enrolled into a program where the Cardholders Outstanding Balances (or part thereof, excluding minimum monthly payment or any payment made toward the Minimum Monthly Payment) in their Cards Accounts are automatically converted into one or more instalment plans at periodic intervals as determined by Citibank, with applicable interest and fees, in accordance with these terms and conditions.
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Auto Balance Conversion means an auto balance conversion for eligible Cardmember by converting the outstanding balances in respect of a Card into a term loan.
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Examples of Auto Balance Conversion in a sentence

  • By participating in this Affin Bank Berhad and Affin Islamic Bank Berhad (“the Bank”) Auto Balance Conversion Programme (“ABC Programme or Programme”), Principal Cardmember (“Cardmember”) agrees to be bound by this terms and conditions (“Agreement”) and any other rules, procedures or instructions which the Bank may issue from time to time.

  • Each monthly instalment paid will incrementally restore the available credit limit or in full once the Auto Balance Conversion is fully repaid.

  • There is a 30 days penalty free cooling off period for cancellation post Auto Balance Conversion that is only applicable to the first conversion.

  • The Auto Balance Conversion Monthly Payment shall be payable in full on or before the payment due date.

  • For the avoidance of doubt, Cardholder may cancel or early terminate the said Auto Balance Conversion.

  • However, the existing Auto Balance Conversion Monthly Instalment will remain until the expiry of the Auto Balance Conversion Tenure.

  • Subject to the terms and conditions as set out herein, the eligible Cardholders will be automatically enrolled into an Auto Balance Conversion program provided that the Eligibility Criteria and other criteria as prescribed by Citibank periodically is met and the Cardholders have not opted out from the Auto Balance Conversion.

  • The Auto Balance Conversion Monthly Payment is part of your minimum payment due and will be reflected in your Account statement.

  • If Cardholder cancel or early terminate the Auto Balance Conversion or in the event the Cardholder cancels the Card, the Cardholder must pay Citibank the total outstanding principal under Auto Balance Conversion with no early termination fee.

  • If Cardholder cancel the first Auto Balance Conversion, the unbilled outstanding principal will be due and payable by the Cardholder along with any fees and charges imposed (if any) in accordance with the Citibank Card Terms and Conditions.

Related to Auto Balance Conversion

  • Fixed Conversion Price shall have the meaning set forth in Section 4(b).

  • Date of Conversion Conversion Price:_______________________________________________________________ Shares To Be Delivered:_________________________________________________________ Signature:______________________________________________________________________ Print Name:_____________________________________________________________________ Address:________________________________________________________________________

  • Interest Conversion Price means, with respect to any Interest Date, that price which shall be computed as 100.0% of the arithmetic average of the Weighted Average Price of the Common Stock on each of the ten (10) consecutive Trading Days immediately preceding the applicable Interest Date (each, an “Interest Measuring Period”). All such determinations to be appropriately adjusted for any stock split, stock dividend, stock combination or other similar transaction during such period.

  • Final Conversion Date means 5:00 p.m. in New York City, New York on the earlier to occur following the IPO of (i) the first Trading Day falling on or after the date on which the outstanding shares of Class B Common Stock represent less than ten percent (10%) of the aggregate number of shares of the then outstanding Class A Common Stock and Class B Common Stock, (ii) the tenth (10th) anniversary of the IPO or (iii) the date specified by affirmative vote of the holders of a majority of the outstanding shares of Class B Common Stock, voting as a single class.

  • Continuation/Conversion Date means the date on which a Loan is converted into or continued as a LIBOR Rate Loan.

  • Mandatory Conversion Date has the meaning set forth in Section 7(a).

  • Automatic Conversion Date has the meaning specified in Section 13.14(a).

  • Optional Conversion Date means, with respect to the Optional Conversion of any Convertible Preferred Stock, the first Business Day on which the requirements set forth in Section 10(d)(ii) for such conversion are satisfied.

  • Base Conversion Price shall have the meaning set forth in Section 5(b).

  • Forced Conversion Date shall have the meaning set forth in Section 6(d).

  • Forced Conversion Amount means the sum of (a) 100% of the aggregate Stated Value then outstanding, (b) accrued but unpaid dividends and (c) all liquidated damages and other amounts due in respect of the Preferred Stock.

  • Applicable Conversion Price means the Conversion Price in effect at any given time.

  • Automatic Conversion means the irrevocable and automatic release of all of the Company’s obligations under the Securities (other than the CSO Obligations, if any) in consideration of the Company’s issuance of the Conversion Shares at the Conversion Price to the Conversion Shares Depository (on behalf of the Holders and Beneficial Owners of the Securities) or to the relevant recipient of such Conversion Shares, all in accordance with the terms of the Securities.

  • Initial Conversion Price has the meaning specified in Section 13.01.

  • New Conversion Price means the amount determined in accordance with the following formula, which shall apply from the QTE Effective Date: NCP = ECP * (VWAPAES / VWAPOS) where:

  • Interest Conversion Rate means the lesser of (a) the Conversion Price or (b) 85% of the lesser of (i) the average of the VWAPs for the 10 consecutive Trading Days ending on the Trading Day that is immediately prior to the applicable Interest Payment Date or (ii) the average of the VWAPs for the 10 consecutive Trading Days ending on the Trading Day that is immediately prior to the date the applicable Interest Conversion Shares are issued and delivered if after the Interest Payment Date.

  • Change of Control Conversion Date shall have the meaning provided in the Articles Supplementary.

  • Interest Conversion Shares shall have the meaning set forth in Section 2(a).

  • Variable Conversion Price means the lesser of (i) the Conversion Price or (ii) 25% multiplied by the Market Price (as defined herein) (representing a discount rate of 75%). “Market Price” means the average of the lowest three (3) Trading Prices (as defined below) for the Common Stock during the ten (10) Trading Day period ending on the latest complete Trading Day prior to the Conversion Date. “Trading Price” means, for any security as of any date, the closing bid price on the Over-the-Counter Market, or applicable trading market (the “OTCQB”) as reported by a reliable reporting service (“Reporting Service”) designated by the Holder (i.e. Bloomberg) or, if the OTCQB is not the principal trading market for such security, the closing bid price of such security on the principal securities exchange or trading market where such security is listed or traded or, if no closing bid price of such security is available in any of the foregoing manners, the average of the closing bid prices of any market makers for such security that are listed in the “pink sheets” by the National Quotation Bureau, Inc. If the Trading Price cannot be calculated for such security on such date in the manner provided above, the Trading Price shall be the fair market value as mutually determined by the Borrower and the holders of a majority in interest of the Notes being converted for which the calculation of the Trading Price is required in order to determine the Conversion Price of such Notes. “Trading Day” shall mean any day on which the Common Stock is tradable for any period on the OTCQB, or on the principal securities exchange or other securities market on which the Common Stock is then being traded, provided, however, that at no time, notwithstanding the occurrence of an Event of Default, may the Conversion Price be less than par value of Common Stock.

  • Company Conversion Price means, the lower of (i) the applicable Conversion Price and (ii) that price which shall be computed as 90% of the arithmetic average of the Weighted Average Price of the Common Stock on each of the twenty (20) consecutive Trading Days immediately following the applicable Installment Date (each such period, a "Company Conversion Measuring Period"). All such determinations to be appropriately adjusted for any stock split, stock dividend, stock combination or other similar transaction that proportionately decreases or increases the Common Stock the applicable such Company Conversion Measuring Period.

  • Applicable Conversion Rate means the Conversion Rate in effect at any given time.

  • Major conversion means a conversion of an existing ship:

  • Optional Conversion means the conversion of any Convertible Preferred Stock other than a Mandatory Conversion.

  • Conversion/Continuation Date means the effective date of a continuation or conversion, as the case may be, as set forth in the applicable Conversion/Continuation Notice.

  • Make-Whole Fundamental Change Conversion Period has the following meaning:

  • Mandatory Conversion shall have the meaning set forth in Section 6.