Credit agreement for a line of credit

$20,000.00

4.75%

Your interest rate is expressed as today’s (name of bank) prime rate* plus or minus an adjustment factor.

Your interest rate is the prime rate + 2.50%

As of July 23 2009, the prime rate is 2.25%

Your interest rate will vary automatically if and when the (name of bank’s) prime rate varies. *The prime rate means the variable annual interest rate that (name of bank) publishes from time to time as a point of reference.

You are charged interest from the day you withdraw money, until you pay the money back in full.

Interest is calculated on the daily balance.

There is no interest-free grace period.

2% or $50

Your minimum payment will be the greater of 2% of the outstanding balance owing and as shown on your monthly statement or $50.

2%

We will bill you in Canadian currency if you use your account to make transactions in foreign currency. We will convert it directly to Canadian dollars at the exchange rate in effect at the time we post the transaction to your account. When the transaction is posted to your account, in addition to the exchange rate, you will be charged a foreign currency conversion of 2% for each foreign currency transaction.

No Annual Fees

To be charged on the day the transaction occurs:

Returned or refused payment due to insufficient funds: $40

Over the credit limit: $20

Extra copy of your monthly statement: $5