Minimum Balance Due Sample Clauses
The Minimum Balance Due clause establishes the lowest amount a borrower or account holder must pay by a specified due date to keep their account in good standing. Typically, this clause applies to credit card agreements or loan repayment schedules, where the minimum payment may be calculated as a percentage of the outstanding balance or a fixed dollar amount, whichever is greater. Its core practical function is to ensure regular payments are made, reducing the risk of default and helping lenders manage credit risk while providing borrowers with a manageable payment threshold.
Minimum Balance Due. You must make a minimum monthly payment (Minimum Balance Due) by the Payment Due Date for each Statement, in an amount equal to the Minimum Balance Due. The Minimum Balance Due is as follows:
a) a payment equal to the greater of $10.00 or 3% (or 1% in the case of the ATB Alberta Agri-Industry BusinessCard Mastercard) of the New Balance shown on the Statement; or
b) the New Balance shown on the Statement. However, if the New Balance on the Statement is less than $10.00, it must be paid in full by the Payment Due Date. In addition, any amounts which exceed the Business Credit Limit must be paid immediately (whether or not a Statement disclosing this excess has been provided). All amounts owed to ATB under this Agreement must be paid in Canadian currency.
Minimum Balance Due. The Primary Cardholder(s) must make a minimum monthly payment by the Payment Due Date for each Statement in an amount at least equal to the Minimum Balance Due. The “Minimum Balance Due” for each Statement is set out in the Rate and Fee Schedule. Any amounts which exceed the Credit Limit must be paid immediately (whether or not a Statement disclosing the excess has been provided). You may lose the benefit of any lower annual interest and/or credit rate promotional offers in which you are participating if you do not pay the Minimum Balance Due by the Payment Due Date for any Statement. As described in the Rate and Fee Schedule, the applicable annual interest and/or credit rates that apply to the Card Account (for Purchases and Cash Advances) may increase from a preferred rate to a default rate (if applicable), or from a standard rate to a default rate, if you do not pay at least the Minimum Balance Due by the Payment Due Date shown on your Statement. From time to time, we may advise the Primary Cardholder(s) that the requirement to pay the Minimum Balance Due is waived. In that case even though the Primary Cardholder(s) are not required to make a payment for that Billing Period, interest at the annual interest rate(s) applicable and other credit charges will continue to apply. All amounts owed to Neo under this Agreement must be paid in Canadian currency.
Minimum Balance Due. The Primary Cardholder(s) must make a minimum monthly payment by the Payment Due Date for each Statement in an amount at least equal to the Minimum Balance Due. The Minimum Balance Due for each Statement will be equal to:
(a) $10.00 plus all outstanding interest and fees on your Card Account; plus
(b) Any amount that exceeds the Credit Limit or Any amount that is overdue, whichever is greater. However, if the New Balance on the Statement is less than $10.00, it must be paid in full by the Payment Due Date. Any amounts which exceed the Credit Limit must be paid immediately (whether or not a Statement disclosing the excess has been provided). You may lose the benefit of any lower annual interest rate promotional offers in which you are participating if you do not pay the Minimum Balance Due by the Payment Due Date for any Statement. From time to time, we may advise the Primary Cardholder(s) that the requirement to pay the Minimum Balance Due is waived. In that case even though the Primary Cardholder(s) are not required to make a payment for that Billing Period, interest at the annual interest rate(s) applicable will continue to apply. All amounts owed to ATB under this Agreement must be paid in Canadian currency, unless your Card is a US Dollar MasterCard in which case all amounts owed to ATB under this Agreement must be paid in US currency.
Minimum Balance Due. You must make a minimum monthly payment (Minimum Balance Due) by the Payment Due Date for each Statement, as follows:
(a) by making a partial payment equal to the greater of $10.00 or 3% (or 1% in the case of the ATB Alberta Agri-Industry BusinessCard MasterCard) of the New Balance shown on the Statement;
(b) by paying the New Balance shown on the Statement; or
(c) by making any payment greater than the amount in 5.1 (a). If the New Balance on the Statement is less than $10.00, it must be paid in full. In addition, any amounts which exceed the Business Credit Limit must be paid immediate- ly (whether or not a Statement disclosing this excess has been provided).
Minimum Balance Due. The Primary Cardholder(s) must make a minimum monthly payment by the Payment Due Date for each Statement in an amount at least equal to the Minimum Balance Due. The “
Minimum Balance Due. The Primary Cardholder(s) must make a minimum monthly payment by the Payment Due Date for each Statement in an amount at least equal to the Minimum Balance Due. The Minimum Balance Due for each Statement will be equal to:
a) $10.00 plus all outstanding interest and fees on your Card Account; plus
b) any amount that exceeds the Credit Limit; plus
c) any amount that is overdue. However, if the New Balance on the Statement is less than $10.00, it must be paid in full by the Payment Due Date. Any amounts which exceed the Credit Limit must be paid immediately (whether or not a Statement disclosing the excess has been provided). You may lose the benefit of any lower annual interest rate promotional offers in which you are participating if you do not pay the Minimum Balance Due by the Payment Due Date for any Statement. From time to time, we may advise the Primary Cardholder(s) that the requirement to pay the Minimum Balance Due is waived. In that case even though the Primary Cardholder(s) are not required to make a payment for that Billing Period, interest at the annual interest rate(s) applicable will continue to apply.