Timing of Finance Charges and Payments. You will be obligated to pay a finance charge that will begin to accrue as of the date on which any credit advance is made. There is no grace period in which you may avoid incurring a finance charge by paying off the balance. Credit advances may be directly deposited to one of your deposit accounts and will be subject to a finance charge from the date of deposit even if you do not withdraw the money immediately. Credit advances and payments made by automatic transfer will be posted to your account when made. When you make a payment during the period on which your monthly statement is based, then this statement will specify the amount of interest that you paid.
Appears in 26 contracts
Samples: Credit and Security Agreement, Credit and Security Agreement, Credit and Security Agreement
