Common use of Minimum Balance Due Clause in Contracts

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. 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 MastercardMasterCard) 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.