Common use of INTEREST CHARGES AND PAYMENTS Clause in Contracts

INTEREST CHARGES AND PAYMENTS. I agree to pay interest, to the extent not prohibited by the laws of the State of Alabama, upon all amounts advanced and other balances due in my accounts in accordance with your usual custom, which may include the compounding of interest. Your custom, which may change from time to time, is set forth in your disclosure statement, which by this reference is herein specifically incorporated. By entering into any transactions with you after I receive your disclosure, I acknowledge that I have read and agreed to its term for all past and future transactions in my account. I understand that interest on all debit balances shall be payable ON DEMAND and that in the absence of any demand interest shall be due on the first business day of each interest period. My daily net debit balance; that is, you may charge me compound interest. Payments of interest and principal and all other payments made by me under this agreement shall be made to your main office in Birmingham, Alabama. You may, in your discretion, not deem any check or other remittance to constitute payment until it has been paid by the drawee and the funds representing such payment have become available to you.

INTEREST CHARGES AND PAYMENTS. I agree to pay interest, to the extent not prohibited pro- hibited by the laws of the State of Alabama, upon all amounts advanced and other balances due in my accounts in accordance with your usual custom, which may include the compounding com- pounding of interest. Your custom, which may change from time to time, is set forth in your disclosure statement, which by this reference is herein specifically incorporated. By entering into any transactions with you after I receive your disclosure, I acknowledge that I have read and agreed to its term for all past and future transactions in my account. I understand that interest on all debit balances shall be payable ON DEMAND and that in the absence of any demand interest shall be due on the first business day of each interest period. My daily net debit balance; that is, you may charge me compound interest. Payments of interest and principal and all other payments made by me under this agreement shall be made to your main office in Birmingham, Alabama. You may, in your discretion, not deem any check or other remittance to constitute payment paymen until it has been paid by the drawee and the funds representing such payment have become available to you.