Cash Advance Balance definition

Cash Advance Balance means, as of the date and time of determination, (a) the aggregate outstanding amount of cash advances to be repaid from the Operating Company to Parent pursuant to Sections 9 and 13 of the Memorandum of Agreement, dated as of October 12, 2023, by and between the Operating Company and Parent, whether or not then due and payable at that time plus (b) the aggregate outstanding amount of cash advances to be repaid from the Company, the Operating Company or their respective Subsidiaries to Parent pursuant to the Memorandum of Agreement, dated as of April 18, 2024, by and between the Operating Company and Parent, as amended on June 20, 2024, and as further amended from time to time (the “April 2024 MOA”) and any similar agreement entered into between Parent and the Company or their respective Subsidiaries after the date of this Agreement providing for cash advances, in each case, whether or not then due and payable by the Company, the Operating Company or their respective Subsidiaries to Parent at such time pursuant to the terms of the April 2024 MOA or such similar agreement.

Cash Advance Balance is any amounts advanced for cash plus any interest on cash advances incurred and not paid by the corresponding statement date. As there is no Grace Period for cash advance transactions, interest is payable on your account from the date of the cash advance transaction until you pay your cash advance balance and any associated fees, in full. You cannot avoid paying interest on cash advances or their related fees. Interest on cash advances is compounded monthly on the statement date; therefore, if interest incurred is not paid in full by the statement date it is added to the Cash Advance Balance by which daily interest is calculated.

Examples of Cash Advance Balance in a sentence

• Cash Advance, Balance Transfer, and Convenience Check fees are added to their corresponding balances, as applicable, and all other fees are added to the Purchases balance.

• When you use your Card or Credit Card account, or when you permit anyone to use it, you agree to pay the amount of any and all Purchases or Cash Advances (including Purchases and/or Cash Advances which may have been made in violation of this Agreement), FINANCE CHARGES (including but not limited to interest, Foreign Transaction Fees, Cash Advance, Balance Transfer and Convenience Check Transaction Fees), late charges, membership fees, and other fees that may become due as shown on the periodic statement.

• When you use your Card or Credit Card account or when you permit anyone to use it, you agree to pay the amount of any and all Purchases or Cash Advances (including Purchases and/or Cash Advances which may have been made in violation of this Agreement), FINANCE CHARGES (including but not limited to interest, Foreign Transaction Fees, Cash Advance, Balance Transfer, and Convenience Check Transaction Fees), late charges, membership fees, and other fees that may become due as shown on the periodic statement.

• The Scheme is not applicable to any Cash Advance, Balance Transfer, Instalment Payment Plan, interest, fees and such other promotions and transactions as we may determine.

• We are not obligated to allow any Purchase, Cash Advance or Balance Transfer which would cause your Account balance or Cash Advance Balance to exceed your Credit Limit or Cash Advance Limit, as applicable, and if we do, we are not obligated to do so at a later time.

• Your payments when paid during the billing cycle will be applied to any amounts outstanding at the time it is received in the following order: Outstanding Finance Charges and Fees, remaining Purchase Balance, remaining Cash Advance Balance.

• You agree that you will not let your total charges, including Purchases, Cash Advances, FINANCE CHARGES (including but not limited to interest, Foreign Transaction Fees, Cash Advance, Balance Transfer and Convenience Check Transaction Fees), late charges, membership fees, and other fees that may be due, exceed your Revolve Line.

• You agree that you will not let your total charges, including Purchases, Cash Advances, FINANCE CHARGES (including but not limited to interest, Foreign Transaction Fees, Cash Advance, Balance Transfer, and Convenience Check Transaction Fees), late charges, membership fees, and other fees that may be due exceed your Credit Limit/Revolve Line.

• You agree that you will not let your total charges, including Purchases, Cash Advances, FINANCE CHARGES (including but not limited to interest, Foreign Transaction Fees, Cash Advance, Balance Transfer and Convenience Check Transaction Fees), late charges, membership fees, and other fees that may be due, exceed your Credit Limit.

• We will charge your Credit Card account when appropriate the Cash Advance, Balance Transfer and Convenience Check fees shown on page 1, each of which are FINANCE CHARGES.