APPLYING PAYMENTS definition

APPLYING PAYMENTS. We will apply all payments first against any billed finance charge; next to billed cash advances; and next to billed purchases. Any payment amount received in excess of the minimum payment will be applied to card balances subject to the highest rates of interest or as otherwise required by law. CREDITING PAYMENTS: It is to your advantage to make all payments properly and on time. All payments received on a business day will be credited on that day provided they are received at the address and in the manner and by the time indicated by your monthly statement. Other payments may not be credited for up to 5 business days. Payments must be in United States currency.
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APPLYING PAYMENTS. Any payment received in excess of the Minimum Payment Due will be allocated first to the balance bearing the highest annual percentage rate and then to each successive balance bearing the next highest rate until the excess payment is exhausted. The amount of any payment received that is equal to or less than the Minimum Payment Due and credits will be allocated in the manner we determine. In most instances, we will allocate such payments and credits to balances with lower annual percentage rates before balances with higher rates. CREDITING PAYMENTS: Payments received by 5:00 p.m. (Central Time) will be credited to your account as of the date of receipt if received in readily identifiable form in the specified manner and at the specified location. Payments received after 5:00 p.m. (Central Time) will be credited to your account as of the next calendar day if received in readily identifiable form in the specified manner and at the specified location.
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APPLYING PAYMENTS. We will apply all payments first against any billed finance charge; next to billed cash advances; and next to billed purchases. Any payment amount received in excess of the minimum payment will be applied to card balances subject to the highest rates of interest or as otherwise required by law. CREDITING PAYMENTS: It is to your advantage to make all payments properly and on time. All payments received on a business day will be credited on that day provided they are received at the address and in the manner and by the time indicated by your monthly statement. Other payments may not be credited for up to 5 business days. Payments must be in United States currency. IRREGULAR PAYMENTS: We may accept late payments, partial payment or checks or money orders labeled “payment in full” without losing our rights under this Agreement. ENTIRE BALANCE DUE: Your entire balance will be due without notice or demand if: you miss a payment; you break any of your promises under this Agreement or any other agreement you have with us; anything you told us in connection with applying for this account is untrue; you exceed your credit line; you become insolvent or involved in bankruptcy proceedings, make an assignment for the benefit of creditors, or die; or if a tax lien is filed against you or your property. REINSTATEMENT: If we have asked you to pay your entire balance for one of the reasons stated in the preceding paragraph and you have resolved the problem, you may ask us to reinstate your account. We may, but are not obligated to, approve the reinstatement. We may require you to provide us with a new application. COLLECTION COSTS: You agree to pay all collection costs, including reasonable attorney’s fees, if we start collection proceedings. JOINT ACCOUNT: If this is a joint account, each person who signed the application (1) may obtain purchase and cash advances (but the totals of these advances cannot exceed the credit line); (2) will be responsible for paying all amounts owed; (3) can notify us to stop making advances; and (4) can close the account. TRANSFER or ASSIGNMENT: Your rights under this Agreement belong to you only and may not be transferred or assigned. Your obligations, however, are binding upon your heirs and legal representatives. SECURITY AND SET OFF: Amounts advanced under this Agreement are unsecured. We waive our right of set-off as well as any security interest we may have for this account under any other agreement with you. AUTHORIZATIONS: Purchases a...
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Examples of APPLYING PAYMENTS in a sentence

  • TO ASSIST US IN APPLYING PAYMENTS PLEASE FAX A COPY OF THIS INDICATING YOUR FEDERAL TAX I.D. NUMBER IN THIS SPACE:______________ Please do not allow this letter to cause you any confusion, and we thank you in advance for continuing your fine payment record.


More Definitions of APPLYING PAYMENTS

APPLYING PAYMENTS. We will apply all payments first against interest; next to fees and other charges in the order in which they were posted to the account; next to billed cash and purchase advances in the order in which they were posted to the account; and finally to current cash and purchase advances in the order in which they were posted to the account.
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Related to APPLYING PAYMENTS

  • recurring payments “reference transactions” "preauthorized transfers" or "preapproved payment." You can cancel your billing agreement at any time in your account interface or by contacting us. Where a payment under that billing agreement is scheduled to be made before the end of the next Business Day after you tell us to cancel it, we may cancel your billing agreement after that payment has been made. If you cancel a billing agreement, you may still owe the recipient money for goods or services that you have received but have not paid for. If we determine currency conversion is necessary for a billing agreement payment, and we perform the conversion, we will use the transaction exchange rate in effect at the time the payment is processed. The transaction exchange rate for each payment transaction may vary. Refunds to your account How refunds can happen We may allow the recipient of your payment to: • Refuse to accept it. • Decide to accept it and then use our service to send you a refund of all or any part of the amount of the payment later. We will return the amount of any refused payment or refunded payment to your Balance. We will return the amount of an unclaimed payment to your balance within 30 days after the date you initiated the payment. If any amount of any payment is returned to you in any of the ways outlined above, we may convert the returned amount for you into either: • The currency of the balance you used for the original payment (before any conversion into the currency received by the recipient happened). • The opening currency of your account. • US dollars (opening a balance in that currency for you, if you don’t have one already). If the original payment you sent involved a currency conversion we will convert the returned amount from the currency received by the recipient as follows: • If the amount is returned within one day of the date of the original payment we will use our transaction exchange rate applicable on the date of the original payment, so that you receive the original amount in the original currency you converted for the original payment. • If the amount is returned after one day of the date of the original payment we will use and you agree to accept our transaction exchange rate applicable at the time of the conversion of the returned amount. The transaction exchange rate may be applied immediately and without notice to you. We may also automatically withdraw the returned amount from your Balance and transfer the funds back to the funding source you used for the original payment. Withdrawals can also involve a currency conversion – see the section on Withdrawing money above. Risks when receiving refunds The returned amount could be lower in value than your original payment amount. This can happen as a result of: • The recipient sending you a refund lower in value than your original payment amount. As we are only a payment service provider, we cannot know what you are entitled to from the original payment recipient as a refund or why the recipient sent the refund in a particular amount. • Transaction exchange rate fluctuations. PayPal is not responsible for any loss resulting from the recipient's decision to refuse or refund your payment, except to the extent that a refund sent by the recipient is a payment executed incorrectly by PayPal We are not liable to you for the difference between the value of your original payment and the value of the resulting refund, except to the extent that the refund is an incorrect payment (see the section on Resolving Problems).

  • Termination Payments has the meaning specified in Section 10(a).

  • Rental Payments means the rental payments paid by the occupant of a unit, excluding any supplemental rental assistance to the occupant from the State, the federal government, or any other public agency, but including any mandatory fees or charges imposed on the occupant by the Owner as a condition of occupancy of the unit.

  • Special Allowance Payments means payments, designated as such, consisting of effective interest subsidies by the Department in respect of the Trust Student Loans to the Eligible Lender Trustee on behalf of the Trust in accordance with the Higher Education Act.

  • Past Due Rent Payment is defined in Section 2.2(g).

  • Late Payment Charge means the charge that is applied when either Party fails to remit payment for any charges by the Bill Due Date, or if payment for any portion of the charges is received after the Bill Due Date, or if payment for any portion of the charges is received in funds which are not immediately available or received by either Party as of the Bill Due Date, or if either Party does not submit the Remittance Information.

  • Event Payments has the meaning set forth in Section 6.1(d).

  • Termination Payment has the meaning set forth in Section 6.03.

  • Reimbursement Amounts As defined in Section 3.22.

  • Reimbursement Payment shall have the meaning given to that term in Subparagraph 2.02(c).

  • Reimbursement Amount As defined in Section 2.04.

  • Tax Payments has the meaning set forth in the definition of Permitted Payments to Parent.

  • Termination Amount has the meaning set forth in Section 7.02(a).

  • Defaulted Swap Termination Payment Any Swap Termination Payment required to be paid by the Trust to the Swap Provider pursuant to the Interest Rate Swap Agreement as a result of an Event of Default (as defined in the Interest Rate Swap Agreement) with respect to which the Swap Provider is the defaulting party or a Termination Event (as defined in the Interest Rate Swap Agreement) (other than Illegality or a Tax Event that is not a Tax Event Upon Merger (each as defined in the Interest Rate Swap Agreement )) with respect to which the Swap Provider is the sole Affected Party (as defined in the Interest Rate Swap Agreement).

  • Contract Adjustment Payments means amounts payable by the Company on each Contract Adjustment Payment Date in respect of each Purchase Contract, at a rate per year of 2.725% on the Stated Amount per Purchase Contract.

  • Monthly Payment Amount means, with respect to each Payment Date, a payment equal to the amount of interest which has accrued during the related Interest Accrual Period, computed at the Interest Rate.

  • Servicer Prepayment Charge Payment Amount The amounts payable by the Servicer in respect of any waived Prepayment Charges pursuant to Section 2.05 or Section 3.01.

  • Accrued Servicing Fees based upon the Scheduled Principal Balance of the Mortgage Loan as calculated on a monthly basis.

  • Payments has the meaning set forth in Section 8.11.

  • Master Servicer Prepayment Charge Payment Amount The amounts payable by the Master Servicer pursuant to Section 2.03(b) in respect of any waived (or, with respect to subsequent changes of law, any unenforceable) Prepayment Charges.

  • Installment Payments shall have the meaning set forth in Section 5(b)(ii).

  • Late Payment Surcharge shall have the meaning ascribed thereto in Article 10.3.3 of this Agreement;

  • Tax Fees means the aggregate fees billed in each of the last two fiscal years for professional services rendered by the Company’s external auditor for tax compliance, tax advice and tax planning.