Common use of Credit Approval and Deposits Clause in Contracts

Credit Approval and Deposits. This Agreement is contingent upon credit verification and approval of the Customer by FIRE DOG. Customer shall provide FIRE DOG with true and correct credit information requested by FIRE DOG. Customer authorizes FIRE DOG to make inquiries and to receive information about Customer’s credit history from others and to enter this information in Customer’s records and to disclose this information to appropriate third parties for reasonable business purposes. FIRE DOG, in its sole discretion, may deny the Services based upon an unsatisfactory credit history, or may condition the Services, which may include requiring (i) pre-payment for Services and other charges, and/or (ii) a security deposit, valid credit card on file or bank account information (EFT) to secure return of equipment and payment for Services and other charges. Any cash deposit will not, unless explicitly required by law, bear interest and shall be held by FIRE DOG as security for payment of Customer's charges. Customer understands and agrees that EFT’s cannot be provided solely for security purposes. EFT’s provided for security purposes will also automatically deduct the full balance due on Customer’s Account on a monthly basis. By providing a cash security deposit, or a credit card or EFT number to FIRE DOG, Customer authorizes FIRE DOG to charge against the credit card or EFT or withdraw from any security deposit or account, for: (i) the repair cost or replacement value (as determined by FIRE DOG) of all FIRE DOG Equipment that is not returned to FIRE DOG undamaged within ten (10) business days after disconnection of Service; and (ii) amounts due to FIRE DOG for Services, fees and other charges. Customer will be refunded the balance of any cash security deposit (without interest unless otherwise required by law), and all or a portion of the amount charged to Customer’s credit card or EFT for FIRE DOG Equipment, if payment has been made for all amounts due on Customer’s Account and Customer returns the FIRE DOG Equipment undamaged. Unless otherwise required by applicable law, refunds of less than $1.00 will only be paid upon Customer request.

Credit Approval and Deposits. This Agreement is contingent TDC reserves the right to carry out a KYC and credit check of Customer at any time prior to acceptance of a Service Order Form and may request that Customer provide sufficient information relating to its credit, financial and other information as TDC may reasonably require to confirm Customer's and its representatives' bona fides in accordance with customary standards. Customer hereby authorizes TDC to obtain information about the Customer’s commercial activities and financial condition from third parties, including, without limitation, banks, credit reporting agencies and other businesses that provide like information. Upon TDC’s request, Customer will make a deposit or provide other security (the "Security Deposit") for the payment of charges as specified by TDC, in an amount equal to three (3) times the monthly recurring charge ("MRC") plus any non-recurring charge ("NRC") agreed upon credit verification and approval under the Service Order Form as a condition to TDC’s acceptance of any Service Order Form (the “Initial Payment”). The amount of the Customer required Security Deposit may be increased by FIRE DOG. Customer shall provide FIRE DOG TDC, at its election, upon the occurrence of: (a) an authorized increase by TDC of an MRC or NRC in accordance with true and correct credit information requested by FIRE DOG. Customer authorizes FIRE DOG to make inquiries and to receive information about Customer’s credit history from others and to enter this information in Customer’s records and to disclose this information to appropriate third parties for reasonable business purposes. FIRE DOG, in its sole discretion, may deny the Services based upon an unsatisfactory credit historyterms hereof or of the applicable Service Order Form, or may condition (b) Customer's failure to pay an MRC or NRC within five (5) Business Days of the Services, which may include requiring due date thereof for two (i2) pre-payment for Services and other charges, and/or (ii) a security deposit, valid credit card on file or bank account information (EFT) to secure return of equipment and payment for Services and other chargessubsequent months. Any cash deposit The Security Deposit will not, unless explicitly required by law, bear interest and shall be held by FIRE DOG TDC as security for payment of Customer's chargesthe Service fees and Supplemental Fees and may be drawn against to cover any outstanding MRC or NRC obligations not satisfied by the due date thereof. Customer understands shall be required to replenish the Security Deposit following any such draw down or pursuant to subsections (a) or (b) above not later than five (5) Business Days following TDC's written request for such additional funds. When Service to Customer is terminated or expired, the amount of the Security Deposit (less deductions for MRCs, NRCs and other obligations owed by Customer to TDC) will be credited to Customer’s account and any remaining credit balance will be refunded within thirty (30) days of such termination. Customer acknowledges and agrees that EFT’s cannot be provided solely for security purposes. EFT’s provided for security purposes will also automatically deduct the full balance due on Customer’s Account on any failure by it to comply with any request made by TDC under this Section shall constitute a monthly basis. By providing a cash security deposit, or a credit card or EFT number to FIRE DOG, Customer authorizes FIRE DOG to charge against the credit card or EFT or withdraw from any security deposit or account, for: (i) the repair cost or replacement value (as determined by FIRE DOG) material breach of all FIRE DOG Equipment that is not returned to FIRE DOG undamaged within ten (10) business days after disconnection of Service; and (ii) amounts due to FIRE DOG for Services, fees and other charges. Customer will be refunded the balance of any cash security deposit (without interest unless otherwise required by law), and all or a portion of the amount charged to Customer’s credit card or EFT for FIRE DOG Equipment, if payment has been made for all amounts due on Customer’s Account and Customer returns the FIRE DOG Equipment undamaged. Unless otherwise required by applicable law, refunds of less than $1.00 will only be paid upon Customer requestthis Agreement.