Common use of Held Balance Clause in Contracts

Held Balance. 9.1 The Bank may assign a Held Balance for the purpose of any Card Transaction proposed to be effected on the Card. The amount of such Held Balance and period that such Held Balance may be maintained shall be determined by the Bank at its absolute discretion. 9.2 The Bank shall debit the Held Balance (or any part thereof) to the Account when the corresponding Card Transactions are presented to the Bank for payment. The Bank shall release the Held Balance (or any part thereof) if the corresponding Card Transactions are not presented to the Bank for payment within such periods as the Bank deems fit from time to time. The amount of Held Balance debited into the Account is free from interest or profit to be earned from the Account. 9.3 The balance available to the Cardmember for use in the Account shall be reduced by the Held Balance. 9.4 The Cardmember further expressly agrees that the Bank shall have the right to place a hold back on the Account and to debit the Account for any Card Transactions that are presented to the Bank after such periods of the Held Balance.

Held Balance. 9.1 10.1 The Bank may assign a Held Balance for the purpose of any Card Transaction proposed to be effected on the Card. The amount of such Held Balance and period that such Held Balance may be maintained shall be determined by the Bank at its absolute discretion. 9.2 10.2 The Bank shall debit the Held Balance (or any part thereof) to the Account when the corresponding Card Transactions are presented to the Bank for payment. The Bank shall release the Held Balance (or any part thereof) if the corresponding Card Transactions are not presented to the Bank for payment within such periods as the Bank deems fit from time to time. The amount of Held Balance debited into the Account is free from interest or profit to be earned from the Account. 9.3 10.3 The balance available to the Cardmember for use in the Account shall be reduced by the Held Balance. 9.4 10.4 The Cardmember further expressly agrees that the Bank shall have the right to place a hold back on the Account and to debit the Account for any Card Transactions that are presented to the Bank after such periods of the Held Balance.