Common use of Alabama Clause in Contracts

Alabama. Obligations of the Company under this service contract are backed by the full faith and credit of the Company. The Company may cancel this contract for any business reason. The Company shall mail a written notice you at least five days prior to cancellation by the Company. Such prior notice is not required if the reason for cancellation is nonpayment of the fee or a material misrepresentation by you to the Company relating to the covered property or its use. If this Contract is cancelled, you shall be entitled to a pro rata refund of the paid Contract fee for the unexpired term, less an administrative fee equal to $25 and less all service (claims) costs incurred by the Company. Cancellations within 30 days of contract initiation are not subject to the proration or administrative fee.