Common use of Liability for Payment Clause in Contracts

Liability for Payment. 9.1 Upon receipt of the monthly statement of the Card Account, the Cardmember shall make payment for the entire amount of the Current Balance on or before the Due Date. Alternatively, Cardmember may opt to make Minimum Payment as follows: (a) (i) 5% of the total Current Balance;

Liability for Payment. 9.1 Upon receipt of the monthly statement of the Card Account, the Cardmember shall make payment for the entire amount of the Current Balance on or before the Due Date. Alternatively, Cardmember may opt to make Minimum Payment as follows: (a) (i) 5% of the total Current Balance; (ii) total amount of Monthly Instalment; and (iii) whole amount in excess when the Current Balance is in excess of the Credit Line (if any); OR