Common use of Over Limit Clause in Contracts

Over Limit. The Cardholder and/or supplementary member(s) shall keep track of his/her/their total obligations so as not to exceed the approved credit limit at any given time. The indication of a credit limit on the Credit Card account shall not relieve the Cardholder and supplementary member(s) from liability for all purchases, cash advances, fees and charges in excess of approved credit limit. PNB reserves the right, without prior notice, to decline any transaction and/or suspend the credit card privileges of the Cardholder and his/her supplementary member(s) and/or charge an over limit fee per over limit event in such amounts as may be fixed and announced by PNB, if the credit limit will likely be or has been exceeded. PNB may demand immediate payment of the amount in excess of the credit limit or of all amounts outstanding. The use of the Credit Card in excess of such credit limit, without prior approval of PNB, shall be considered as a fraudulent act of the Cardholder and/or supplementary member(s).