Debit balance at closing Sample Clauses

Debit balance at closing. Interest – Capitalisation If the closing results in a debit balance, this balance shall be automatically and immediately payable. Until full reimbursement, this balance shall bear late interest, fees and costs, calculated under the conditions for an unauthorised overdraft in force on the date the Account is closed and indicated in the Conditions and Tariffs. Likewise, all transactions which the Bank has been unable to reverse shall bear interest at the rate stipulated above. When the overdraft has been covered by a prior offer of credit, the late interest, fees and costs applicable shall be exclusively determined by the provisions of the offer. The interest accrued after the Account is closed shall be compounded annually. Pursuant to Article 1154 of the Civil Code, the capitalised interest due for a full year shall also bear interest. The fact that the balance bears interest after the Account is closed does not imply that the Bank has waived immediate payment of the balance or agreed to settlement deadlines.
Sample 1
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Debit balance at closing interest - capitalisation If the balance shows a debit balance, the debtor will pay interest from the closure at the rate applied on the day of the closure until full repayment. Similarly, all transactions that the Bank is unable to reverse will bear interest at the rate provided above. Finally, the parties agree that the interest on the capital due for a full year will itself produce interest, in accordance with the regulations in force. The production of interest after the closure of the account does not mean that the Bank waives the immediate payment of the balance or agrees on payment deadlines. In addition, if a debit balance remains after the closing date, a commission equal to 15% of the debit balance will be due to the Bank as a penalty clause.
Sample 1

Related to Debit balance at closing

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  • Credit Balances No interest or other amount will be paid by us on any credit balance on the Unallocated Account.

  • Credit Balance We will make a good faith effort to return to you any credit balance that has been on your Account longer than six consecutive Billing Cycles (or, at our discretion, for a shorter time period). You may also request a refund of a credit balance on your Account at any time. We may reduce the amount of any credit balance on your Account by applying the credit balance towards new fees and charges posted to your Account. We do not pay any interest on credit balances.

  • Excess Contributions An excess contribution is any amount that is contributed to your IRA that exceeds the amount that you are eligible to contribute. If the excess is not corrected timely, an additional penalty tax of six percent will be imposed upon the excess amount. The procedure for correcting an excess is determined by the timeliness of the correction as identified below.

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  • Catch-Up Contributions In the case of a Traditional IRA Owner who is age 50 or older by the close of the taxable year, the annual cash contribution limit is increased by $1,000 for any taxable year beginning in 2006 and years thereafter.

  • When Can I Make Contributions You may make annual contributions to your Xxxx XXX any time up to and including the due date for filing your tax return for the year, not including extensions. You may continue to make regular contributions to your Xxxx XXX even after you attain RMD age. In addition, rollover contributions and transfers (to the extent permitted as discussed below) may be made at any time, regardless of your age.

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