CIRCUMSTANCES UNDER WHICH A FINANCE CHARGE WILL BE IMPOSED Sample Clauses

CIRCUMSTANCES UNDER WHICH A FINANCE CHARGE WILL BE IMPOSED. The total outstanding balance of purchases and cash advances in the Account on the closing date of a billing cycle, including any FINANCE CHARGE will be shown on the Periodic Statement for that billing cycle as the “New Balance.”
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CIRCUMSTANCES UNDER WHICH A FINANCE CHARGE WILL BE IMPOSED. The total outstanding balance of purchases, cash advances and fees in the Account on the closing date of a billing cycle, including any FINANCE CHARGE will be shown on the Periodic Statement for that billing cycle as the �New Balance.� a. Cash Advances. A FINANCE CHARGE will be imposed on cash advances from the date each cash advance is made to the date paid. There is no time period within which to pay to avoid a periodic FINANCE CHARGE on cash advances, including ATM withdrawals and convenience check cash advances. b. Purchases. A FINANCE CHARGE will be imposed on VISA Credit Card purchases included in the new balance when the entire new balance is not paid in full on or before the 15th of the month following the statement. This �grace period� allows you to avoid a FINANCE CHARGE on purchases for a billing cycle. If you do not pay within the grace period, your FINANCE CHARGE will be applied on the 15th of the month following the statement. 9. METHOD USED TO DETERMINE THE BALANCE ON WHICH THE FINANCE CHARGE MAY BE COMPUTED AND AMOUNT OF FINANCE CHARGE. The Credit Union figures the Periodic FINANCE CHARGE on your Account by applying the Periodic Rate to the �Average Daily Balance� of purchases and previous unpaid cash advances for your Account separately. To get the �Average Daily Balance� we take the beginning purchase and cash advance balances of your Account each day, add any new purchases and subtract any payments or credits, unpaid FINANCE CHARGES and unpaid late charges and fees. This gives us the daily balance. Then we add all the daily balances for the billing cycle and divide by the number of days in the billing cycle. This gives us the Average Daily balance for both purchases and cash advances. The FINANCE CHARGE imposed during the billing cycle will be determined by multiplying the Average Daily Balance by the Periodic Rate by the number of days in the billing cycle. Cash advances made in the billing period will not be assessed the daily FINANCE CHARGE until after the 15th of the month. Also, no FINANCE CHARGE is imposed on purchases if payments and credits are made sufficient to pay the �New Balance� shown on your periodic statement on or before the 15th day of the month following the statement. The �Total FINANCE CHARGE� shown on your monthly statement consists of the periodic FINANCE CHARGE on purchases and the periodic FINANCE CHARGE on cash advances. 10. PERIODIC RATE AND CORRESPONDING ANNUAL PERCENTAGE RATE. Variable Rate. The Periodic Rate...
Sample 1
CIRCUMSTANCES UNDER WHICH A FINANCE CHARGE WILL BE IMPOSED. The total outstanding balance of purchases and cash advances in the Account on the closing date of a billing cycle, including any FINANCE CHARGE will be shown on the Periodic Statement for that billing cycle as the “ New Balance.”
Sample 1

Related to CIRCUMSTANCES UNDER WHICH A FINANCE CHARGE WILL BE IMPOSED

  • Repayment of Amounts Advanced for Network Upgrades Upon the Commercial Operation Date, the Interconnection Customer shall be entitled to a repayment, equal to the total amount paid to the Participating TO for the cost of Network Upgrades. Such amount shall include any tax gross-up or other tax-related payments associated with Network Upgrades not refunded to the Interconnection Customer pursuant to Article 5.17.8 or otherwise, and shall be paid to the Interconnection Customer by the Participating TO on a dollar-for-dollar basis either through (1) direct payments made on a levelized basis over the five-year period commencing on the Commercial Operation Date; or (2) any alternative payment schedule that is mutually agreeable to the Interconnection Customer and Participating TO, provided that such amount is paid within five (5) years from the Commercial Operation Date. Notwithstanding the foregoing, if this LGIA terminates within five (5) years from the Commercial Operation Date, the Participating TO’s obligation to pay refunds to the Interconnection Customer shall cease as of the date of termination. Any repayment shall include interest calculated in accordance with the methodology set forth in FERC’s regulations at 18 C.F.R. §35.19a(a)(2)(iii) from the date of any payment for Network Upgrades through the date on which the Interconnection Customer receives a repayment of such payment. Interest shall continue to accrue on the repayment obligation so long as this LGIA is in effect. The Interconnection Customer may assign such repayment rights to any person. If the Large Generating Facility fails to achieve commercial operation, but it or another Generating Facility is later constructed and makes use of the Network Upgrades, the Participating TO shall at that time reimburse Interconnection Customer for the amounts advanced for the Network Upgrades. Before any such reimbursement can occur, the Interconnection Customer, or the entity that ultimately constructs the Generating Facility, if different, is responsible for identifying the entity to which reimbursement must be made.

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