Crediting Payments definition

Crediting Payments. The receipt of any payment item by Lender shall not be considered a payment on account unless such payment item is a wire transfer of immediately available federal funds made to the Lender’s Account or unless and until such payment item is honored when presented for payment. Should any payment item not be honored when presented for payment, then Borrower shall be deemed not to have made such payment and interest shall be calculated accordingly. Anything to the contrary contained herein notwithstanding, any payment item shall be deemed received by Lender only if it is received into the Lender’s Account on a Business Day on or before 11:00 a.m. (California time). If any payment item is received into the Lender’s Account on a non-Business Day or after 11:00 a.m. (California time) on a Business Day, it shall be deemed to have been received by Lender as of the opening of business on the immediately following Business Day.”
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Crediting Payments. To allow for application of payments and for Section 2.7 purposes of computing Finance Fees, all payments shall be applied to the Obligations two business days after payments are received by Purchaser.
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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 cease to exist or die; or if a tax lien is filed against you or your property. This paragraph does not limit the Bank’s right to demand payment of the outstanding balance of your account in full at any time.
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Examples of Crediting Payments in a sentence

  • LOAN AND TERMS OF PAYMENT 3 2.1. Revolver Advances 3 2.2. Revolver Increase 5 2.3. Borrowing Procedures and Settlements 6 2.4. Payments; Reduction of Revolver Commitments; Prepayments 17 2.5. Overadvances 24 2.6. Interest Rates and Letter of Credit Fee: Rates, Payments, and Calculations 25 2.7. Crediting Payments 27 2.8. Designated Accounts 28 2.9. Maintenance of Loan Account; Statements of Obligations 28 2.10.

  • Margin Calls 6.4. Late payment 6.5. Excess0 6.6. No Encumbrances0 6.7. Crediting Payments 6.8. Client Authorising Payments 6.9. Client’s liability unlimited 6.10.

  • LOAN AND TERMS OF PAYMENT 2 2.1 [Intentionally Omitted] 2 2.2 Term Loans 3 2.3 Borrowing Procedures 3 2.4 Payments 4 2.5 [Intentionally Omitted] 8 2.6 Interest Rates: 8 2.7 Cash Management 9 2.8 Crediting Payments 10 2.9 Instructions 11 2.10 Maintenance of Loan Account; Statements of Obligations 11 2.11 Fees 11 2.12 [Intentionally Omitted.] 11 2.13 LIBOR Option 11 2.14 Capital Requirements 14 2.15 Joint and Several Liability of Borrowers 14 2.16 Registration of Notes 17 3.

  • Prepayments 5 2.5 Promise to Pay 7 2.6 Interest Rate: Rates, Payments, and Calculations 8 2.7 Crediting Payments 9 2.8 Designated Account 9 2.9 Maintenance of Loan Account; Statements of Obligations 9 2.10 Fees 10 2.11 [Reserved] 10 2.12 [Reserved] 10 2.13 Capital Requirements 10 3.

  • LOAN AND TERMS OF PAYMENT 2.1 Advances 2.2 Overadvances 2.3 Interest Rates, Payments, and Calculations 2.4 Crediting Payments 2.5 Fees 2.6 Additional Costs 2.7 Term 3.

  • Prepayments 6 2.5. Promise to Pay 10 2.6. Interest Rate: Rates, Payments, and Calculations 11 2.7. Crediting Payments 12 2.8. Designated Account 12 2.9. Maintenance of Loan Account; Statements of Obligations 12 2.10.

  • LOAN AND TERMS OF PAYMENT 29 2.1 Revolver Advances 29 2.2 Borrowing Procedures and Settlements 30 2.3 Payments 37 2.4 Overadvances and Required Amortization Amount 40 2.5 Interest Rates: Rates, Payments, and Calculations 41 2.6 Cash Management 42 2.7 Crediting Payments 43 2.8 Designated Account 43 2.9 Maintenance of Loan Account; Statements of Obligations 43 2.10 Fees 44 2.11 Capital Requirements 44 2.12 LIBOR Option 45 2.13 Restatement of Obligations 47 3.

  • Except as provided in Section 2.6(c), the outstanding principal amount of the Term Loan shall bear interest at the per annum rate equal to the Base Rate plus the Term Loan Base Rate Margin 15 2.7 Crediting Payments 17 2.8 Designated Account 17 2.9 Maintenance of Loan Account; Statements of Obligations 17 2.10 Fees 17 2.11 Letters of Credit 18 2.12 LIBOR Index Rate Loans 22 2.13 Capital Requirements 23 2.14 [Reserved] 24 2.15 Joint and Several Liability of Borrowers 24 3.

Related to Crediting Payments

  • Special Payments Account Means, with respect to the Certificates of any series, the account or accounts created and maintained for such series pursuant to Section 4.01(b) and the related Trust Supplement.

  • Policy Payments Account means a separate special purpose trust account that is an Eligible Account, for the benefit of Holders of the Notes and the Credit Enhancer over which the Indenture Trustee has exclusive control and sole right of withdrawal.

  • Crediting Date means the date designated in the Adoption Agreement for crediting the amount of any Participant Deferral Credits or Employer Credits to the Deferred Compensation Account of a Participant.

  • Voluntary Contribution Account means the account established and maintained by the Administrator for each Participant with respect to his total interest in the Plan resulting from the Participant's nondeductible voluntary contributions made pursuant to Section 4.12.

  • Lump Sum Payment means a single payment that is not anticipated to continue.