Common use of Rewards Plus Clause in Contracts

Rewards Plus. 14.1 The Borrower may notify the Lender on the Application Form or by other Notice of its request to use Rewards Plus. The Lender may accept or decline such request in its absolute discretion. If the Lender accepts such request, then this Clause 14 will apply to the Margin Loan Facility. 14.2 The Borrower may nominate a Member provided the Member is: (a) a natural person and a Borrower (joint Borrowers cannot pool Points); (b) a natural person and a Guarantor; or (c) a natural person and the Nominated Financial Adviser. 14.3 If the Lender accepts the Borrower’s request to use Rewards Plus, the Variable Rate applicable to the Margin Loan Facility may be higher than the Variable Rate which would apply if Rewards Plus was not used. Any such change to the Variable Rate will apply from the beginning of the month in which the Lender accepts the Borrower’s application to participate in Rewards Plus. 14.4 Despite anything else in this Clause 14, only a Member may be awarded Points. 14.5 The Lender may at any time: (a) terminate Rewards Plus in whole or in part; (b) cancel, suspend, change or limit: i the continued awarding of Points in relation to the Lender’s products, including the Margin Loan Facility; ii the number of Points awarded; and iii the method of calculating the number of Points to be awarded. 14.6 The Lender will make any change under Clause 14.5 by giving a Notice to the Borrower. Any change will take effect on and from the date specified in the Notice which must not be less than 24 hours after the time that the Lender publishes or sends the Notice to the Borrower. 14.7 If: (a) an Event of Default occurs; (b) the Margin Loan Facility becomes subject to Gearing Adjustment; or (c) the Facility Balance will or is likely to exceed the lesser of the Credit Limit and the Lending Value, The Lender may cease to make Rewards Plus available to the Borrower or cancel the awarding of Points and is not required to notify the Borrower or the Member of any cancellation or suspension. 14.8 The awarding and redemption of any Points are subject to the terms and conditions of the Qantas Frequent Flyer Program. 14.9 A Member who is awarded any Points will be required to pay any taxes (including GST) and any airport related charges (and any GST on those charges) which may be due on any payment required to redeem Points. 14.10 Any dispute in relation to awarding of Points must be referred to the Lender. The Lender may adjust any award of Points without notice to the Borrower or the Member. 14.11 The Lender will calculate the Points to be awarded monthly. The Lender will arrange to transfer any awarded Points to the Member’s Qantas Frequent Flyer account at such intervals as determined by the Lender in its absolute discretion. 14.12 The Lender is not liable to the Borrower, the Member or any other Person for the operation of the Qantas Frequent Flyer Program, the redemption of Points or any air travel or other goods or services obtained as a result of the program. Qantas will not be liable to the Borrower or any other Person in relation to the supply of services by the Lender.