THE CREDIT LIMIT Sample Clauses

THE CREDIT LIMIT. Upon approval of the credit card application, the Cardholder will be given a credit limit expressed in pesos, inclusive of the cash advance limit, which represents the maximum outstanding balance, including, but not limited to, any installment transaction/s made using the Credit Card, and all other applicable fees and charges incurred using the Credit Card, that the Cardholder and his/her supplementary member(s) are allowed at any given time subject to security features and credit limit management features that PNB may impose for the benefit of the Cardholder. The credit limit, though expressed in pesos, may also be used for dollar-denominated purchases and at an equivalent value of fifty pesos for every dollar. In case PNB issues two or more Credit Cards to the Cardholder, the Cardholder understands and agrees to abide by the condition that he/she may, at PNB's sole discretion, be given a credit limit for each Credit Card that must not exceed the assigned aggregate customer credit limit shared among all his Credit Cards. PNB may increase or reduce the Cardholder’s credit limit based on his/her payment history, or current economic/financial capacity or credit standing in accordance with PNB’s risk management policies and guidelines, whether during the effectivity of the credit card or upon renewal thereof, and the Cardholder shall be notified of such increase or reduction in his/her credit limit. The Cardholder shall have the option to decline the increase in his credit limit by providing PNB with a written notice of his/her disagreement to the increase in credit limit. The Cardholder’s continued use of the credit card after receipt of the notice of increase or decrease of his/her credit limit shall constitute acceptance of such increase or reduction. Should the outstanding balance exceed the reduced credit limit, said excess shall be considered immediately due and demandable and subject to an overlimit fee, without need of further notice or demand. The Cardholder may also apply for an increase or decrease in credit limit, which application will be subject to the evaluation of PNB.
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THE CREDIT LIMIT. On and after the date on which this Second Amendment becomes effective pursuant to Section 9 hereof (the "Effective Date"), the Credit Limit shall be an amount equal to the lesser of (i) $5,000,000.00 or (ii) the Borrowing Base. Section 1.1 of Schedule 1 to the Loan Agreement ("Schedule 1") is hereby amended accordingly.
Sample 1
THE CREDIT LIMIT. On and after the date on which this Third Amendment becomes effective pursuant to Section 9 hereof (the "Effective Date"), the Credit Limit shall be an amount equal to the lesser of (i) $6,000,000.00 or (ii)
Sample 1
THE CREDIT LIMIT. 6.1 We will inform you of the Credit Limit.
Sample 1

Related to THE CREDIT LIMIT

  • CREDIT LIMIT 1. The Allocation Platform shall calculate and continuously update the Credit Limit of each Registered Participant in respect of each subsequent Auction. The Credit Limit shall be equal to the amount of the collaterals in place minus any outstanding payment obligations. In case of a Bank Guarantee such Bank Guarantee shall be only considered if the requirements in Article 20 related to its validity for the respective Auction are fulfilled. The Allocation Platform shall make this information available to each Registered Participant individually through the Auction Tool.

  • Credit Line If your application is approved by us, this agreement will constitute a revolving line of credit for an amount which will be the credit line under your Account. We will advise you of the amount of your credit line. That amount will be the maximum amount you may have outstanding at any time. You agree not to attempt to obtain more credit than the amount of your credit line. However, if you temporarily exceed your credit line, you agree to repay the excess immediately, even if we have not yet billed you. Obtaining such credit does not increase your credit line and if you exceed your Credit Limit repeatedly, we may suspend your credit privilege under this Agreement. We retain the right to increase or decrease your credit line at any time for any reason. Any increase of reduction on the limit of your credit line will be shown on your monthly statement or by separate notice together with any changes in the applicable minimum monthly payments. Your eligibility for this credit line is determined by our loan policy and may be terminated at our sole discretion, without demand or notice. You may close your credit line at any time by notifying us in writing and returning all Cards cut in half. If you terminate this Agreement or if we terminate or suspend your credit privileges, the provisions of this Agreement and your liability hereunder shall otherwise remain in full force and effect until you have paid us all sums due under this Agreement and returned all Cards.

  • The Credit Facility 2.1 The Revolving Credit Facility Each Lender severally agrees, on the terms and conditions set forth herein, to make loans to the Borrower (each such loan, a “Revolving Loan”) from time to time on any Business Day during the period from the Closing Date to the Revolving Termination Date, in an aggregate amount not to exceed at any time outstanding, together with the principal amount of Term Loans outstanding in favor of such Lender at such time, the amount set forth next to such Lender’s name on Schedule 1 (such amount together with the Lender’s Pro Rata Share of the Term Commitment, as the same may be reduced under Section 2.10 or as a result of one or more assignments under Section 10.8, the Lender’s “Commitment”); provided, however, that, after giving effect to any Borrowing of Revolving Loans, the Effective Amount of all outstanding Revolving Loans shall not at any time exceed the combined Commitments; and provided further that the Effective Amount of the Revolving Loans, together with all Term Loans outstanding at such time, of any Lender shall not at any time exceed such Lender’s Commitment. Within the limits of each Lender’s Commitment, and subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2.1, prepay under Section 3.3 and reborrow under this Section 2.1.

  • Line of Credit Amount (a) During the availability period described below, the Bank will provide a line of credit to the Borrowers. The amount of the line of credit (the “Facility No. 1 Commitment”) is Twenty Million and 00/100 Dollars ($20,000,000.00).

  • The Credit Agreement (b) The Notes executed by the Borrower and delivered on the date hereof. The documents described in the foregoing clauses (a) and (b) are collectively referred to herein as the “Opinion Documents.” We have also reviewed originals or copies of such other agreements and documents as we have deemed necessary as a basis for the opinion expressed below. In our review of the Opinion Documents and other documents, we have assumed:

  • Maximum Advances In the case of any type of Advance requested to be made, after giving effect thereto, the aggregate amount of such type of Advance shall not exceed the maximum amount of such type of Advance permitted under this Agreement. Each request for an Advance by any Borrower hereunder shall constitute a representation and warranty by each Borrower as of the date of such Advance that the conditions contained in this subsection shall have been satisfied.

  • Revolving Credit Note The obligation of the Borrowers to pay the Revolving Loan, with interest, shall be evidenced by a promissory note (as from time to time extended, amended, restated, supplemented or otherwise modified, the “Revolving Credit Note”) substantially in the form of EXHIBIT A-1 attached hereto and made a part hereof, with appropriate insertions. The Revolving Credit Note shall be dated as of the Closing Date, shall be payable to the order of the Lender at the times provided in the Revolving Credit Note, and shall be in the principal amount of the Revolving Credit Committed Amount. Each of the Borrowers acknowledges and agrees that, if the outstanding principal balance of the Revolving Loan outstanding from time to time exceeds the face amount of the Revolving Credit Note, the excess shall bear interest at the rates provided from time to time for advances under the Revolving Loan evidenced by the Revolving Credit Note and shall be payable, with accrued interest, ON DEMAND. The Revolving Credit Note shall not operate as a novation of any of the Obligations or nullify, discharge, or release any such Obligations or the continuing contractual relationship of the parties hereto in accordance with the provisions of this Agreement.

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