Common use of CHANGE OF TERMS Clause in Contracts

CHANGE OF TERMS. We can change the terms of this Agreement, including all fees, other charges and Annual Percentage Rate, at any time. However, if the change will cause a fee or minimum payment to increase, we will mail you written notice at least 15 days before the change becomes effective. If you do not agree to the change, you must notify us in writing within 25 days after the effective date of the change and pay us the balance, either at once or under the terms of the unchanged Agreement. Otherwise, the change in the notice is binding on you. Use of the Card after the effective date of the change shall be deemed acceptance of the new terms, even if the 25 days has not expired. Events of Default. You are in default if you fail to pay the minimum payment listed on each billing statement on time, file for bankruptcy, exceed your credit limit without our permission, or default on this or any other Nusenda Federal Credit Union loan or agreement you have with us. If you are in default, we may close your Account and demand immediate payment of the full balance. No notice is required. We may also declare the whole balance due if you die, if you make false or misleading statements on your application, or if other creditors attach or garnish your property. If you have given us a security interest in a share Account, share draft Account, or certificate of deposit, we may use the deposit amount to pay any amount you owe us.

CHANGE OF TERMS. We can change the terms of this Agreement, including all fees, other charges and Annual Percentage Rate, at any time. However, if the change will cause a fee or minimum payment to increase, we will mail you written notice at least 15 days before the change becomes effective. If you do not agree to the change, you must notify us in writing within 25 days after the effective date of the change and pay us the balance, either at once or under the terms of the unchanged Agreement. Otherwise, the change in the notice is binding on you. Use of the Card after the effective date of the change shall be deemed acceptance of the new terms, even if the 25 days has not expired. Events of Default. You are in default if you fail to pay the minimum payment listed on each billing statement on time, file for bankruptcy, exceed your credit limit without our permission, or default on this or any other Nusenda Federal Credit Union loan or agreement you have with us. If you are in default, we may close your Account and demand immediate payment of the full balance. No notice is required. We may also declare the whole balance due if you die, if you make false or misleading statements on your application, or if other creditors attach or garnish your property. If you have given us a security interest in a share Account, share draft Account, or certificate of deposit, we may use the deposit amount to pay any amount you owe us. Collection Costs. If we have to refer collection of your Account to a lawyer, to the extent permitted by law you will have to pay our attorney's fee plus court costs and any other fees.