Initial Unpaid Balance. This is the LOAN AMOUNT set out in the LOAN DETAILS section in these Commercial Terms.

Initial Unpaid Balance is the amount you owe at the date of this agreement and it is further detailed in the CREDIT DETAILS of the disclosure statement. “Instalment” means a payment you must make regularly, usually on the same day of each week, fortnight or month. “Land” includes an interest in land. “Land to be mortgaged” means the land shown in the disclosure statement in the box headed WHAT COULD HAPPEN IF YOU FAIL TO MEET YOUR COMMITMENTS”, “Real Property - The Land to be Mortgaged” section. “Legal paper” means a document or a notice or other written paperwork about this agreement. “Lender” or “we” or any similar pronoun is the person lending the money and the expression includes its employees and agents and any person to whom the lender assigns its rights under this agreement or who otherwise takes over the lender’s rights. “Liability” means something you must do or an amount you must pay. If you are liable to do something or pay anything, it means you are responsible for doing or paying – you must do the thing or pay the amount. “Motor Vehicle” has the meaning given in section 57 of the PPSA. “Obligation” means something that you must do or that must not do. “Person” and pronouns such as “anyone” or “somebody” include a body corporate (such as a company) and an unincorporated body (such as a partnership or trust). “PPSA” is the Personal Property Securities Act 1999. “Principal” is the initial unpaid balance before interest is charged and it is the unpaid balance on which interest is charged. When we charge interest and fees to your account they become part of principal. “Repossess” includes the meaning “seize on your default whether or not for the first time”. “Unpaid balance” means the amount owing under this agreement at a particular time, being the difference between all amounts credited and all amounts debited to you under this agreement at that time. “Xxxxxxx’x xxxx” means the type of charge that a xxxxxxx has on somebody else’s goods when he does work on the goods. The xxxxxxx may keep the goods until he is paid for the work and if he is not paid he may sell them. A mechanic will have a xxxxxxx’x xxxx on your car if he does work on it at his garage. Any expression not described or defined in this agreement shall have the meaning given to it in the Credit Contracts and Consumer Finance Act 2003 unless the context requires otherwise. Unless the context prevents it, the singular shall include the plural and vice versa and one gender includes others to the effect that, f...

Initial Unpaid Balance has the meaning given to that term under the heading “Credit Details” in the Initial Disclosure Statement;

Examples of Initial Unpaid Balance in a sentence

The repayment waiver ONLY applies if we have charged you a Repayment Waiver Fee included in the Initial Unpaid Balance disclosed on page 1 of this Loan Agreement, under the heading “Credit details”.
They are not included in the Initial Unpaid Balance referred to above.
Payment Method: Direct Debit Number of Payments: Amount of each payment: Total amount of payments Made up of Initial Unpaid Balance, interest and monthly administration fee across agreement term INTEREST Annual interest rate (fixed for the Agreement term) % fixed for the whole of the agreement.
The Initial Unpaid Balance is the total of all advances made to you in connection with this agreement, it is made up of: $ $ $ $ $ $350.00 $ $ Cash Price GAP Cover Credit Contract Indemnity Mechanical Breakdown Other Charges Establishment Fee Less Cash Deposit Trade In Allowed $ TOTAL ADVANCES You must pay the amounts specified below, each such payment being due when specified.
This amount is not included in the Initial Unpaid Balance, but is included in the regular payment listed on the front page.

More Definitions of Initial Unpaid Balance

Initial Unpaid Balance means the amount you owe us as at the Effective Date as stated in the Initial

Initial Unpaid Balance has the meaning given that term in the Schedule of Loan Terms. Loan: means all money owed to the Credit Union by the Member under this Agreement. Market Value means:

Initial Unpaid Balance. The amount the borrower owes on the day specified in the initial disclosure statement. Xxx (as at Statement Date of your Loan Agreement) Subsequent advances: This Portion is to be borrowed and drawdown on settlement date in one lump sum. It cannot be drawn down progressively. [Construction Loan]This Portion is to be borrowed and drawdown in stages. As the amount and timing of subsequent advances can not been known, therefore it cannot be disclosed.[Please delete if it is not construction loan] Product type: Fixed Interest Rate for a Fixed Rate Period of <x> <months> [Variable Interest Rate] [Please delete if it is not Variable Interest rate] Fixed Rate Period: Initial fixed term of <x> <months> Interest-only Period: Interest-only for <x> <months>

Initial Unpaid Balance is the amount you owe at the date of this statement and it is further detailed in the CREDIT DETAILS of the disclosure statement. “Instalment” means a payment you must make regularly, usually on the same day of each week, fortnight or month. “Legal paper” means a document or a notice or other written paperwork about this agreement. “Lender” or “we” or any similar pronoun is the person lending the money and the expression includes its employees and agents and any person to whom the lender assigns its rights under this agreement or who otherwise takes over the lender’s rights.

Initial Unpaid Balance definition

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