Common use of CREDIT LINE FACILITY Clause in Contracts

CREDIT LINE FACILITY. 8.1 The Bank shall at its sole discretion specify the Cardmember’s Credit Line with the Bank. Any reduction of the Credit Line will be notified by the Bank to the Cardmember. 8.2 Where the Cardmember operates two or more Cards with the Bank, the Cardmember shall opt for a combined or a separate Credit Line. This shall represent the total Credit Line extended to cover the use of all the Cards held by the Principal Cardmember and the Supplementary Cardmember, if any. 8.3 The Cardmember hereby covenants that he shall not exceed his Credit Line without the Bank’s written approval and shall make good any excess thereof or repay the Bank immediately upon receipt of the monthly statement and/or to such other notices by the Bank showing such excess in accordance with Clause 9.1. In the event of a failure by the Cardmember to pay the Bank upon demand of such excess as aforesaid, the whole outstanding balance on the Card Account shall become immediately due and payable and the provisions of Clause 11.1 shall be applicable.

CREDIT LINE FACILITY. 8.1 The Bank shall at its sole discretion specify the Cardmember’s Credit Line with the Bank. Any reduction of the Credit Line will be notified by the Bank to the Cardmember. 8.2 Where the Cardmember operates two or more Cards with the Bank, the Cardmember shall opt for a combined or a separate Credit Line. This shall represent the total Credit Line extended to cover the use of all the Cards held by the Principal Cardmember and the Supplementary Cardmember, if any. 8.3 The Cardmember hereby covenants that he shall not exceed his Credit Line without the Bank’s written approval and shall make good any excess thereof or repay the Bank immediately upon receipt of the monthly statement and/or to such other notices by the Bank showing such excess in accordance with Clause 9.1. In the event of a failure by the Cardmember to pay the Bank upon demand of such excess as aforesaid, the whole outstanding balance on the Card Account shall become immediately due and payable and the provisions of Clause 11.1 shall be applicable.

CREDIT LINE FACILITY. 8.1 The Bank shall at its sole discretion specify the Cardmember’s Credit Line with the Bank. Any reduction of the Credit Line will be notified by the Bank to the Cardmember. 8.2 Where the Cardmember operates two or more Cards with the Bank, the Cardmember shall opt for a combined or a separate Credit Line. This shall represent the total Credit Line extended to cover the use of all the Cards held by the Principal Cardmember and the Supplementary Cardmember, if any. 8.3 The Cardmember hereby covenants that he shall not exceed his Credit Line without the Bank’s written approval and shall make good any excess thereof or repay the Bank immediately upon receipt of the monthly statement and/or to such other notices by the Bank showing such excess in accordance with Clause 9.1. In the event of a failure by the Cardmember to pay the Bank upon demand of such excess as aforesaid, the whole outstanding balance on the Card Account shall become immediately due and payable and the provisions of Clause 11.1 11.2 shall be applicable.