Grace Periods Cash Advances definition

Grace Periods Cash Advances. There is no grace period for Cash Advances. Purchase Advances: Your Payment Due Date is shown on your Statement, and will be at least 25 days after the close of each billing period. You will not be charged interest on new Purchase Advances if you pay your New Balance in full by the Payment Due Date shown on that Statement. If you do not pay the entire amount of the New Balance by the Payment Due Date, the unpaid balance will begin accruing interest charges on the first day of the new billing period and each new Purchase Advance reflected in that billing period will begin accruing interest on the date the Purchase posts to your account. Monthly Interest Calcula- tion We calculate the monthly interest charge on your Account in the following manner: First, we calculate the “Average Daily Balance” for each category of transactions (e.g., Cash Advances, Purchase Advances, or promotional balances) by doing the following: We take the beginning balance for that type of transaction each day during the monthly billing period and add any new Advances of that type posted that day and subtract any payments that are applied to the transaction category for that day. This gives us the daily balance for that type of transaction. We then add up all the daily balances for each transaction type for each day included in the monthly billing Statement, and divide by the total number of days included in the monthly billing Statement. That gives us the Average Daily Balance for each transaction type. Next, we divide the applicable Annual Percentage Rate by 365. This gives us the “Daily Interest Rate”. Finally, we multiply the applicable Daily Interest Rate for each type of transaction by the Average Daily Balance for that category of transactions and multiply that total by the number of days in the monthly billing period. This gives us the interest charge for each category of transactions. Minimum Interest Charge A Minimum Interest Charge will be assessed to your Account for any billing period in which monthly interest is charged, but the calculated amount of the monthly interest is less than the Minimum Interest Charge. When this occurs you will not be charged the calculated monthly interest charge, but will instead be charged the Minimum Interest Charge. The amount of the Minimum Interest Charge is shown in the Account Opening Disclosures.
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Related to Grace Periods Cash Advances

  • Cash Advances These are from cash advances and cash equivalent transactions you make with your account. “Special Offers” These are from your use of the account to take advantage of special, introductory, or promotional offers we make available to you at times. Each such transaction may be kept track of separately on your statement and may be treated as its own Balance Category.

  • or "Advances means a cash advance or cash advances under the Revolving Facility.

  • Extended Revolving Loans has the meaning assigned to such term in Section 2.23(a).

  • Replacement Revolving Loans shall have the meaning assigned to such term in Section 2.21(l).

  • Cash Advance means the amount requested by you and advanced to you by any method approved by us according to the terms of this Agreement in cash or cash equivalent items (including, but not limited to, money orders, travelers checks, lottery tickets, casino chips, vouchers redeemable for cash, or racetrack xxxxxx).

  • Management Advances means loans or advances made to, or Guarantees with respect to loans or advances made to, directors, officers, employees or consultants of any Parent, the Company or any Restricted Subsidiary:

  • Revolving Advances means Advances made other than Letters of Credit.

  • Gross advance amount means the sum payable to the payee or for the payee's account as consideration for a transfer of structured settlement payment rights before any reductions for transfer expenses or other deductions to be made from such consideration.

  • Maximum Revolving Advance Amount means $25,000,000.

  • Additional Revolving Loans means any revolving loan added hereunder pursuant to Section 2.22, 2.23 or 9.02(c)(ii).

  • Pending Revolving Loans means, at any time, the aggregate principal amount of all Revolving Loans requested in any Notice of Borrowing received by the Agent which have not yet been advanced.

  • Minimum Disbursement Amount means Twenty-Five Thousand and No/100 Dollars ($25,000).

  • Maximum Facility Amount means the aggregate Commitments as then in effect, which amount shall not exceed $200,000,000; provided that at all times after the Reinvestment Period, the Maximum Facility Amount shall mean the aggregate Advances Outstanding at such time.

  • Extended Revolving Loan shall have the meaning assigned to such term in Section 2.21(e).

  • Cash Advance Fees means cash advance transaction fees and cash advance late fees, if any, as specified in any Account Agreement applicable to an Account.

  • Availability Amount is (a) the lesser of (i) the Revolving Line or (ii) the amount available under the Borrowing Base minus (b) the outstanding principal balance of any Advances.

  • Minimum Borrowing Amount means (i) for Revolving Loans, $5,000,000, and (ii) for Swingline Loans, $1,000,000.

  • Dollar-Denominated Production Payments means production payment obligations recorded as liabilities in accordance with GAAP, together with all undertakings and obligations in connection therewith.

  • Committed Revolving Line means a credit extension of up to Two Million Dollars ($2,000,000).

  • Incremental Revolving Loans has the meaning assigned to such term in Section 2.22(a).

  • ABR Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Alternate Base Rate in accordance with the provisions of Article II.

  • Net advance amount means the gross advance amount less the aggregate amount of the actual and estimated transfer expenses required to be disclosed under section 3(e).

  • Term Loan Advances are each defined in Section 2.1.1(a).

  • Initial Term Loans means the term loans made by the Lenders on the Closing Date to the Borrower pursuant to Section 2.01(a).

  • Refinancing Revolving Loans means one or more Classes of Revolving Loans that result from a Refinancing Amendment.

  • Unpaid Advance has the meaning assigned to such term in Section 2.05.