Definice Due Date

Due Date the date by which the Minimum Payment Amount must be settled as specified in the Credit Agreement.

Due Date means, in the context of the Cooperation Agreement, always the 5th day of the calendar month following the end of the Cycle on which day the review of the Trader's trading is completed, followed by an update of the Profit and possible payment of the Reward in the Digital Currency according to the Digital Currency Reference Rate applicable as of that day.

Due Date the date on which the Minimum Payment Amount must be settled, being fifteen days from the Statement date.

Examples of Due Date in a sentence

• The application must reach Ferratum at least fifteen (15) days before the respective Due Date.

• If you decide to repay the Total Amount Due before Due Date, you shall notify Ferratum five business days in advance either by post or email to the relevant address stipulated in these Standard Terms.

• The Client is obliged to pay the above stated compensation for prepayment to the Bank also in the event that the Credit becomes due before the Due Date or Final Due Date as a result of termination of the Frame Agreement or any relevant contract concluded under the Frame Agreement for reasons stated in the General Conditions.

• Regardless of the Due Date, all debts arising under Financing shall be become due as of the date when declaration of bankruptcy of the Client becomes effective.

• Following the Due Date, the Bank is entitled to convert any outstanding Credit drawn down in a foreign currency into CZK using the foreign currency selling Rate – cashless (“deviza prodej”) as published at the conversion date and to ask the Client to settle any such converted amount in CZK.

• The Client may repay the Revolving Credit at any time, but no later than on the Final Due Date or, if termination of the Frame Agreement has been agreed, in the period agreed in the Frame Agreement at the latest.

• The Client may repay the respective Overdraft Credit to the Bank at any time, but by the Final Due Date at the latest.

• If the respective Overdraft Credit is not repaid as at the Final Due Date, the outstanding amount shall be considered to be unauthorised debit, which shall be due immediately.

• The Commitment Fee shall be settled monthly starting from the effective date of the Frame Agreement until the Final Due Date of the respective Overdraft Credit, but no later than 5 Business Days after the end of the respective calendar month.

• The Client shall not be released from its responsibility for debts arising from the Frame Agreement nor its debts under the Frame Agreement shall not been decreased should the Bank does not perform the respective payment to the debit of some of the Client’s accounts with the Bank at the respective Due Date.