Cost of credit definition

Cost of credit means the cost of consumer credit as expressed as a per annum rate and is determined as fol- lows:
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Cost of credit. You will pay an INTEREST CHARGE for all advances made against your Account. If your Account features an Introductory Rate, you will pay an Introductory Rate for all advances made against your Account at the Daily Periodic Rate and corresponding ANNUAL PERCENTAGE RATE (“APR”) set forth in the Additional Disclosure attached and incorporated into this Agreement. Any Introductory Rate applicable to your Account will apply for the time period as set forth in the Additional Disclosure. After any Introductory Rate period, or if an Introductory Rate does not apply to your Account, the Standard Rate periodic rate for your Account will range from .0000000% per day to .0492877% per day, which corresponds to an ANNUAL PERCENTAGE RATE ranging from 7.99% to 17.99%. Your precise Standard Rate will be determined by review of your credit report and based on your creditworthiness and is disclosed in the Additional Disclosure. In addition, after your Account is opened, we may review your credit report periodically from time to time at our discretion and adjust your Standard Rate within the ranges above according to your credit score. You will be notified no less than 45 days prior to any rate change. Cash advances (including balance transfers) incur an INTEREST CHARGE from the date they are posted to the Account. If you have paid your Account in full by the due date shown on the previous monthly statement, or there is no previous balance, you have not less than 25 days to repay your Account balance before an INTEREST CHARGE on the current purchases will be imposed. If you have not paid your Account in full by the due date shown on the previous monthly statement, you have no grace period in which to repay your Account balance before an INTEREST CHARGE on current purchases will be imposed, and such INTEREST CHARGE will begin on the date such purchases are posted to your Account. No additional INTEREST CHARGE will be incurred whenever you pay the Account in full by the Payment Due Date shown on your monthly periodic statement. The INTEREST CHARGE is figured by applying the periodic rate to the “balance subject to INTEREST CHARGE,” which is the “average daily balance” of your Account, including certain current transactions. The “average daily balance” is arrived at by taking the beginning balance of your Account each day and adding any new cash advances (including balance transfers), and, unless you pay your Account in full by the due date shown on your previous monthly statemen...
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Cost of credit means a charge set by LNGCo or its Affiliates in a reasonable manner consistent with such Person's practices as part of the Parties agreement on the Initial Sales Plan, which charge will be based on the credit-worthiness of the counterparty to the LNG Purchase Agreement executed by LNGCo.
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Examples of Cost of credit in a sentence

  • Cost of credit risk was multiplied by 2.2, gains or losses on other assets were multiplied by 3.7, reaching€78 million, and the tax charge was down -30.6% compared to the first nine months of 2019.

  • The general form of the empirical model is: 𝐶𝑜𝑠𝑡 𝑜𝑓 𝑐𝑟𝑒𝑑𝑖𝑡𝑙𝑡 = 𝑎0 + 𝑎1𝐹𝑖𝑟𝑚 𝑟𝑎𝑡𝑖𝑛𝑔𝑘𝑡−1 + 𝑎2𝐶𝑜𝑛𝑡𝑟𝑜𝑙𝑠𝑘𝑡−1 + 𝑢𝑙𝑡 (1) In equation (1), Cost of credit measures the cost of loan facility l originated at time t.

  • As a result, the Cost of credit (Provision expenses annualized divided by total loans) reached 1.80% in 3Q14.

  • The information used was based on their statutory returns, as well as financial and qualitative information provided to the FSB under Information Request 3/2011.47 5.3.1. Cost of credit life insurance The mystery shopping findings outlined in Section 5.2 suggest that credit life insurance is more expensive than open market insurance offerings.

  • Credit life insurance more expensive than “open market” options The mystery shopping exercise and consumer interviews rendered the following insights regarding the cost of credit life insurance: Cost of credit life insurance not clear.

  • Cost of credit reports shall be for the account of the borrower, whether or not the loan is approved.

  • D-2.7 DIFFERENCES IN THE COST OF ANY CREDIT GRANTED FOR THE SALES Cost of credit refers to the "costs" of granting credit for a specific sales transaction.

  • Cost of credit can be classified as; gross interest and net interest.

  • The Cost of credit (Provision expenses annualized divided by total loans) reached 1.55% in 2Q14 compared to 1.53% in 1Q14 and 1.79% in 2Q13.

  • Issue 2: Cost of credit protection A maximum amount is set up in the Decision 2009/750/EC, annex I.1: “a bank guarantee or equivalent financial instrument, which shall not exceed the average monthly toll trans- action amount” 2.1.B.b Application GuideIssue 1: administrative burden and administrative costs associated with parallel us- age of multiple credit protection instruments: the Application Guide does not issue any further recommendation regarding the nature or amount of the credit protection.


More Definitions of Cost of credit

Cost of credit means, with respect to any type of interest free or deferred interest payment plan:
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Related to Cost of credit

  • Letter of Credit Advance means an advance made by any Issuing Bank or any Lender pursuant to Section 2.03(c).

  • Revolving Line of Credit means the Commitments of the Lenders to make Revolving Loans pursuant to Section 3 of this Financing Agreement and assist the Companies in opening Letters of Credit, Bankers Acceptances, Steamship Guarantees and Airway Releases pursuant to Section 5 of this Financing Agreement, in an aggregate amount equal to $250,000,000.

  • Letter of Credit Availability Period the period from and including the Closing Date to but excluding the Letter of Credit Maturity Date.

  • Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Administrative Agent maintained at the office of the Administrative Agent at 200 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 designated as the “Delphi Letter of Credit Account” that shall be used solely for the purposes set forth herein.

  • Fronted Letter of Credit means a standby Letter of Credit issued by an Issuing Lender having an L/C Fronting Commitment in which each Lender purchases a risk participation pursuant to Section 3.4.

  • Extension of Credit means, as to any Lender, the making of a Loan by such Lender or the issuance of, or participation in, a Letter of Credit by such Lender.

  • Letter of Credit Exposure means, at any time, the sum of (a) the aggregate undrawn maximum face amount of each Letter of Credit at such time plus (b) the aggregate unpaid amount of all Reimbursement Obligations at such time.

  • Letter of Credit Payment means any amount paid or required to be paid by the Issuing Lender in its capacity hereunder as issuer of a Letter of Credit as a result of a draft or other demand for payment under any Letter of Credit.

  • Letter of Credit Liability means, all reimbursement and other liabilities of Borrower or any of its Subsidiaries with respect to each Lender Letter of Credit, whether contingent or otherwise, including: (a) the amount available to be drawn or which may become available to be drawn; (b) all amounts which have been paid or made available by any Lender issuing a Lender Letter of Credit or any bank issuing a Bank Letter of Credit to the extent not reimbursed; and (c) all unpaid interest, fees and expenses related thereto.

  • Letter of Credit Accommodations means, collectively, the letters of credit, merchandise purchase or other guaranties which are from time to time either (a) issued or opened by Agent or any Lender for the account of any Borrower or Obligor or (b) with respect to which Agent or Lenders have agreed to indemnify the issuer or guaranteed to the issuer the performance by any Borrower or Obligor of its obligations to such issuer; sometimes being referred to herein individually as "Letter of Credit Accommodation".

  • Letter of Credit Reserve has the meaning set forth in Section 2.1.2(d).

  • Letter of Credit Disbursement means a payment made by Issuing Bank pursuant to a Letter of Credit.

  • Revolving Advance has the meaning given in Section 2.1.

  • Aggregate Outstanding Extensions of Credit as to any Lender with respect to any Type of Loan at any time, an amount equal to the sum of (a) the aggregate principal amount of all Loans of such Type made by such Lender then outstanding and (b) such Lender's Commitment Percentage of the L/C Obligations then outstanding.

  • L/C Credit Extension means, with respect to any Letter of Credit, the issuance thereof or extension of the expiry date thereof, or the increase of the amount thereof.

  • Letter of Credit Liabilities means, for any Bank and at any time, such Bank's ratable participation in the sum of (x) the amounts then owing by the Borrower in respect of amounts drawn under Letters of Credit and (y) the aggregate amount then available for drawing under all Letters of Credit.

  • Letter of Credit Amount the stated maximum amount available to be drawn under a particular Letter of Credit, as such amount may be reduced or reinstated from time to time in accordance with the terms of such Letter of Credit.

  • Loan Advance The meaning specified in Section 2.2(a).

  • Revolving Loan Availability means, at any time, the Revolving Loan Limit minus the Revolving Loan Outstandings.

  • Letter of Credit Obligation means, as of any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit on such date (if any Letter of Credit shall increase in amount automatically in the future, such aggregate amount available to be drawn shall currently give effect to any such future increase) plus the aggregate Reimbursement Obligations and Letter of Credit Borrowings on such date.

  • Letter of Credit Maximum Amount means $5,000,000; provided that, on and after the Maturity Date, the Letter of Credit Maximum Amount shall be zero.

  • Letter of Credit Limit means $5,000,000.

  • Letter of Credit Obligations means all outstanding obligations incurred by Agent and Lenders at the request of Borrower, whether direct or indirect, contingent or otherwise, due or not due, in connection with the issuance of Letters of Credit by Agent or another L/C Issuer or the purchase of a participation as set forth in Annex B with respect to any Letter of Credit. The amount of such Letter of Credit Obligations shall equal the maximum amount that may be payable by Agent or Lenders thereupon or pursuant thereto.

  • Revolving Extensions of Credit as to any Revolving Lender at any time, an amount equal to the sum of (a) the aggregate principal amount of all Revolving Loans held by such Lender then outstanding, (b) such Lender’s Revolving Percentage of the L/C Obligations then outstanding and (c) such Lender’s Revolving Percentage of the aggregate principal amount of Swingline Loans then outstanding.

  • Available Commitment means a Lender’s Commitment minus:

  • Letter of Credit Commitment means, with respect to any Issuing Bank at any time, the amount set forth opposite such Issuing Bank’s name on Schedule I hereto under the caption “Letter of Credit Commitment” or, if such Issuing Bank has entered into one or more Assignment and Acceptances, set forth for such Issuing Bank in the Register maintained by the Administrative Agent pursuant to Section 9.07(d) as such Issuing Bank’s “Letter of Credit Commitment”, as such amount may be reduced at or prior to such time pursuant to Section 2.05.