Payment Application. If we cannot collect on your check or other payment item you send us to pay on your Account, we may post as an Advance transaction an amount equal to the credit previously given to you for such check or payment item and we may charge interest on this amount from the date your Account originally was credited for the payment. After a payment has been made, we reserve the right to withhold available credit in the amount of the payment for 7 business days. Any credit available before the payment is made will continue to be available for use during this time.
Payment Application. The Lender must apply estimated loss payments first to the unsecured principal of the guaranteed portion of the debt and then to the unsecured interest of the guaranteed portion of the debt. In the event the court attempts to direct the payments to be applied in a different manner, the Lender will immediately notify the USDA servicing office.
Payment Application. All payments paid by the Borrower and received by the Lender will first be applied in payment of the interest calculated at the Interest Rate, and second in payment of the Principal Amount. Such payments will be applied in the order in which they became due. However, if the Borrower defaults on payment, then the Lender will have the right to apply any payments received while in default as the Lender so chooses.
Payment Application. All payments received shall be applied first to fees and costs of collection, if any, then to accrued and unpaid interest and then in reduction of the outstanding principal balance. RAF will allocate your payments and credits to pay off balances at lower periodic interest rates before paying off balances at higher periodic interest rates. Credit Balance: If you have a credit balance in your account under this Agreement, RAF may return to you any credit over $30.00. You may request a refund of a credit balance at any time. RAF may reduce the amount of any credit balance by the amount of any new Advance. If after ninety days a credit balance of less than $30.00 remains in your account, you will forfeit the amount to RAF. Billing Statement: Your billing statement, as prepared by RAF, shows the total balance, any interest charges, fees, costs, the minimum payment due and the payment due date (“Billing Statement” or “Billing Statements”). The Billing Statement may also show your current Agreement credit limit, an itemized list of current purchases, payments and credits, an interest rate summary or other important information. If RAF deems your account uncollectible or if RAF initiates collection proceedings, RAF, in its sole discretion, may stop sending you Billing Statements. However, interest charges, fees and costs will continue to accrue regardless of whether RAF sends you Billing Statements. RAF will send Billing Statements to you on dates and intervals as determined by RAF. The Billing Statements will be deemed correct and accepted by you unless you notify RAF in writing within 20 days of the date of the Billing Statement. If you believe there is an error on your Billing Statement, you must notify RAF, in writing, at X.X. Xxx 000000, Xxxxx Xxxxx, XX 00000 within the 20 day period. Billing Address and Name: You must notify RAF of any changes in your mailing address and/or name by contacting RAF at (000) 000-0000 or any subsequent telephone number as may be shown on your Billing Statement. For your protection, RAF may require written confirmation of your address or name change(s). RAF will mail your Billing Statement to only one address. Changes to Your Account Agreement and Credit Limit: Except as otherwise prohibited by law, at RAF’s discretion, RAF may change your credit limit, Maturity Date, fees, costs, interest rate, Special Promotion, or other terms of your Agreement at any time. RAF will notify you of any change to your Agreement either by sending y...
Payment Application. Any and all payments on account of the Obligations will be applied first to accrued and unpaid interest and second to outstanding principal and other sums due hereunder. If Borrower makes a payment or payments and such payment or payments, or any part thereof, are subsequently invalidated, declared to be fraudulent or preferential, set aside or are required to be repaid to a trustee, receiver, or any other person under any bankruptcy act, state, provincial or federal law, common law or equitable cause, then to the extent of such payment or payments, the Obligations or part thereof hereunder intended to be satisfied shall be revived and continued in full force and effect as if said payment or payments had not been made.
Payment Application. The Lender must apply estimated loss payments first to the unsecured principal of the guaranteed por- tion of the debt and then to the unsecured interest of the guaranteed portion of the debt. In the event the bankruptcy court at- tempts to direct the payments to be applied in a different manner, the Lender will imme- diately notify the FmHA or its successor agency under Public Law 103–354 servicing office.
Payment Application. The manner in which Lender accounts for the Obligations or applies payments for its regulatory or accounting purposes shall not change the Borrower's legal liability or the manner of application as governed by this Agreement.
Payment Application. On or before the day of each month specified in ¶ I(N), Design- Builder shall submit to the ADR and Design Professional electronic and print drafts of sequentially numbered and dated draft proposed Interim Payment Application, covering compliant Design Services and Work suitably performed and materials suitably stored and secured off-site (where approved in advance in writing by the ADR consistent with this Article) during the monthly period ending on the twenty-fifth day of the subject month, with reductions for retainage and other withholding as indicated in this Agreement.
Payment Application. All payments made shall first be applied to any outstanding balances of any kind including additional rent charges and/or any other charges due under this lease.
Payment Application. Borrower acknowledges that one or more Guaranties have been entered into which guarantee a portion of the Indebtedness under the Note. Upon partial satisfaction of the Indebtedness, Borrower expressly waives any right to designate the portion of the Indebtedness that is satisfied by such payment.
