Common use of Application of Payments and Credits Clause in Contracts

Application of Payments and Credits. To the extent that my monthly payment exceeds the total minimum payment, you will allocate the excess amount first to my regular revolving charge line, unless specified. Otherwise, you will allocate payments to the balance with the highest interest rate, in accordance with applicable law.

Appears in 4 contracts

Samples: Revolving Charge Security Agreement, Security Agreement, Credit Application and Security Agreement

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