Common use of Amounts owed to PayPal Clause in Contracts

Amounts owed to PayPal. If there is an amount owing from you to us resulting from your use of the Cryptocurrency services, we may debit that amount from your PayPal Account. If the balance in your PayPal Account (including your Cryptocurrencies Hub) represents an amount that you owe to PayPal then PayPal is entitled to recover that amount from you. In addition to any rights we have under the PayPal User Agreement, you authorise PayPal to Sell your Cryptocurrencies and use the proceeds to pay any amount you owe to us in any PayPal Account you own. If we Sell your Cryptocurrency to pay amounts you owe to us, we will value the Cryptocurrencies using the price that otherwise applies to the Sale of Cryptocurrencies, or another price determined by PayPal in its reasonable discretion. You understand that the value of Cryptocurrencies may rise or fall quickly and that we have no obligation to Sell at a time that provides the best price for you. While PayPal will notify you if your balance becomes an amount you owe to us, regardless of how quickly we Sell your Cryptocurrencies, we have no obligation to give you notice before we Sell. You may have tax reporting and tax payment obligations as a consequence of Selling your Cryptocurrencies. No Other Encumbrances Other than our pledge described above, PayPal will not pledge, charge, hypothecate, assign or otherwise encumber your Cryptocurrencies.