Common use of EXCEEDING CREDIT LIMIT Clause in Contracts

EXCEEDING CREDIT LIMIT. We may choose to authorise certain Card transactions that would result in a credit limit (being the combined credit limit and/or an individual credit limit in respect of a Card Account) being exceeded. You may make a request for us to decline to authorise Card transactions exceeding a credit limit (being the combined credit limit and/or an individual credit limit in respect of a Card Account). Despite such request, the total amount incurred on a Card Account may exceed a credit limit as a result of circumstances beyond our control (“Exceptional Transactions”). Exceptional Transactions may include, but are not limited to: (a) transactions which do not require authorisation for effecting payment; (b) transactions which have a posting amount exceeding the amount presented for authorisation caused, for example, by currency exchange fluctuation or surcharges levied by a merchant; (c) transactions that are within the credit limit at the time of authorisation but, at the time they are submitted by the merchant for posting (often after a prolonged period of time), the credit limit may have been exceeded or they may cause the credit limit to be exceeded; or (d) transactions directly authorised by the relevant card association (e.g. VISA, MasterCard, etc.). Whenever your credit limit has been exceeded (including by amounts incurred from Exceptional Transactions), that part of the balance owing which exceeds the applicable credit limit (being the combined credit limit and/or any individual credit limit in respect of a Card Account) shall be immediately due and payable by you and/or the Corporation.

EXCEEDING CREDIT LIMIT. We may choose to authorise certain Card transactions that would result in a credit limit (being the combined credit limit and/or an individual credit limit in respect of a Card Account) being exceeded. You may make a request for us to decline to authorise Card transactions exceeding a credit limit (being the combined credit limit and/or an individual credit limit in respect of a Card Account). Despite such request, the total amount incurred on a Card Account may exceed a credit limit as a result of circumstances beyond our control (“Exceptional Transactions”). Exceptional Transactions may include, but are not limited to: (a) transactions which do not require authorisation for effecting payment; (b) transactions which have a posting amount exceeding the amount presented for authorisation caused, for example, by currency exchange fluctuation or surcharges levied by a merchant; (c) transactions that are within the credit limit at the time of authorisation but, at the time they are submitted by the merchant for posting (often after a prolonged period of time), the credit limit may have been exceeded or they may cause the credit limit to be exceeded; or (d) transactions directly authorised by the relevant card association (e.g. VISA, MasterCard, etc.). Whenever your credit limit has been exceeded (including by amounts incurred from Exceptional Transactions), that part of the balance owing which exceeds the applicable credit limit (being the combined credit limit and/or any individual credit limit in respect of a Card Account) shall be immediately due and payable by you and/or the Corporationyou.