Common use of Application of Security Funds Clause in Contracts

Application of Security Funds. Upon a Default Event occurring, the termination of this Agreement (whether for a Default Event or otherwise), or the cancellation or suspension of the Card Account, without limiting any other rights we have under law or this Agreement, we may withdraw and set off (and effect compensation, if you’re a resident of the province of Quebec) all or part of the security funds against your Obligations (whether or not then immediately due and payable) without prior notice or demand for payment. Any security funds that we withdraw and set off against your Obligations pursuant to this Agreement will reduce your Obligations but will not be considered a payment on your Card Account, including for credit reporting purposes, or for purposes of determining whether a Default Event has occurred and is continuing. You are responsible for any Debt or Obligation remaining after security funds have been applied, and we may report (or continue to report) your Card Account as delinquent.

Application of Security Funds. Upon a Default Event occurring, the termination of this Agreement (whether for a Default Event or otherwise), or the cancellation or suspension of the Card Account, without limiting any other rights we have under law or this Agreement, we may withdraw and set off off (and effect effect compensation, if you’re a resident of the province of Quebec) all or part of the security funds against your Obligations (whether or not then immediately due and payable) without prior notice or demand for payment. Any security funds that we withdraw and set off off against your Obligations pursuant to this Agreement will reduce your Obligations but will not be considered a payment on your Card Account, including for credit reporting purposes, or for purposes of determining whether a Default Event has occurred and is continuing. You are responsible for any Debt or Obligation remaining after security funds have been applied, and we may report (or continue to report) your Card Account as delinquent.

Application of Security Funds. Upon a Default Event occurring, the termination of this Agreement (whether for a Default Event or otherwise), or the cancellation or suspension of the Card Account, without limiting any other rights we have under law or this Agreement, we may withdraw and set off (and effect compensation, if you’re you are a resident of the province of Quebec) all or part of the security funds against your the Obligations (whether or not then immediately due and payable) without prior notice or demand for payment. Any security funds that we withdraw and set off against your the Obligations pursuant to this Agreement will reduce your the Obligations but will not be considered a payment on your the Card Account, including for credit reporting purposes, or for purposes of determining whether a Default Event has occurred and is continuing. You are The Owner is responsible for any Debt or Obligation remaining after security funds have been applied, and we may report (or continue to report) your the Card Account as delinquent.