Purchase Advance definition

Purchase Advance. An Advance for buying goods or paying for services. We also treat your annual fee (if your Account has an annual fee), return payment charges or documentation charges; and certain Balance Transfers (as explained below) as Purchase Advances. You must repay Purchase Advances as required by this Agreement. Interest will be charged on Purchase Advances at the “Annual Percentage Rate (APR) for Purchases” based on the formula shown in your Account Opening Disclosures. Promotional materials that we provide from time to time in connection with particular otters, such as Balance Transfer otters, may state that a ditterent interest rate or a promotional interest rate for a particular period of time will apply, in which case the promotional materials that we provide with the otter will govern. We will honor requests for Purchase Advances, assuming that you have Available Credit at the time that you request a Purchase Advance, subject to the other terms of this Agreement. We post each Purchase Advance to your Account as of the transaction date of the purchase.

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Purchase Advance and “Cash Advance” are defined in Section 4. “Balance Transfer” is defined in Section 5. “Overdraft Advance” is defined in Section 6. “Finance Charge” is defined in Section 12.

Purchase Advance. An Advance for buying goods or paying for services. We also treat your Annual Fee, return payment charges or documentation charges as Purchase Advances. You must repay Purchase Advances as required by this Agree- ment. Interest will be charged on Purchase Advances at the “Annual Percentage Rate (APR) for Purchases” based on the variable rate formula shown in your Account Opening Disclosures and in this Agreement. Promotional materials that we provide from time to time in con- nection with particular offers, such as Balance Transfer offers, may state that a different interest rate or a promotional interest rate for a particular period of time will apply, in which case the promotional terms that we provide with the offer will govern. We will honor requests for Purchase Advances, assuming that you have sufficient Available Credit at the time that you request a Pur- chase Advance, subject to the other terms of this Agreement. We post each Purchase Advance to your Account as of the transac- tion date of the purchase.

Examples of Purchase Advance in a sentence

• We add a Purchase, Advance or Balance Transfer to the appropriate balances for those categories on the later of the transaction date or the first day of the statement period.

• We may, at our option, offer you for a limited time introductory or promotional interest rates for all or part of new Purchase, Advance, or Balance Transfers posted to your Account.

• We calculate the periodic rate or interest portion of the INTEREST CHARGE by multiplying the applicable DPR by the ADB (including new transactions) of the Purchase, Advance and Balance Transfer categories subject to interest, and then adding together the resulting interest from each category.

• If you obtain a Balance Transfer by using an instrument that we provide you that contains the words “Balance Transfer Check” or “Balance Transfer Request” or by calling our Service Center, the Balance Transfer will be treated as a Purchase Advance, and the Balance Transfer Fee shown in the Account Opening Disclosures will apply.

• Method of Computing Balance Subject to Interest Rate: We calculate the periodic rate or interest portion of the INTEREST CHARGE by multiplying the applicable DPR by the ADB (including new transactions) of the Purchase, Advance and Balance Transfer categories subject to interest, and then adding together the resulting interest from each category.

• When a Balance Transfer is treated as a Purchase Advance, the amount of the Balance Transfer Fee will be added to the Purchase Advance daily balance within one Business Day after we process your Balance Transfer Request.

• In connection with any such Additional Purchase Advance Transaction, Buyer and Seller shall execute and deliver to each other an updated Confirmation setting forth the new Maximum Applicable Percentage and outstanding Purchase Price with respect to such Purchased Asset.

• A monthly periodic interest rate, and a corresponding Annual Percentage Rate, is used to calculate any periodic rate interest charge on the Cash Advance Average Daily Balance and on the Purchase Advance Average Daily Balance of your Account.

• To figure the Purchase Advance Average Daily Balance, we take the beginning balance of your Purchase Advances each day (excluding Promotional Purchases and Special Promotional Items), add any new Purchase Advances (excluding Promotional Purchases and Special Promotional Items), and subtract any payments received or credits posted to your Account that are applied to your Purchase Advance balance that day.

• If, however, a Cash Advance or Purchase Advance is made too late in a Billing Period to be posted on the Monthly Statement applicable to that Billing Period, the Cash Advance or Purchase Advance will be posted as of the first day of the next Billing Period.

More Definitions of Purchase Advance

Purchase Advance means an amount required to be paid in advance by an agent before lifting the tickets;

Purchase Advance means an advance by the Lenders to Agent to facilitate the purchase of Approved Receivables pursuant to the terms hereof.

Purchase Advance means an advance of funds under a Promissory Note to fund an Acquisition, as reflected on a grid attached to such Promissory Note.

Purchase Advance means the amount advanced under the Borrowing Base in connection with a Purchased Property."

Purchase Advance means an Advance for the purpose of financing a portion of the purchase price payable, or refinancing a portion of the purchase price previously paid, by Borrower pursuant to an Eligible Purchase Agreement in connection with the purchase by Borrower of an Eligible Portfolio Pool.

Purchase Advance means the amount of $250,000 due and owning ---------------- from Licensee to Licensor under the Purchase Agreement which constitutes a deferred portion of the Purchase Price payable by Licensee to Licensor under and is defined in the Purchase Agreement and which constitutes and obligation of Licensee to Licensor under the New Factoring Agreement.