Common use of Default; Acceleration; Credit Suspension; Collection Costs Clause in Contracts

Default; Acceleration; Credit Suspension; Collection Costs. You will be in default if: (a) you fail to make any payment on time; (b) if you fail to keep any promises you have made under this Agreement or under other Agreements you have with us; (c) if you die; (d) if you file a petition in bankruptcy or have a bankruptcy petition filed against you, or if you become involved in any insolvency, receivership or custodial proceeding; (e) if anyone attempts to take any of your funds held by us via legal process or if you have a judgment or tax lien filed against you; (f) if you make any false, inaccurate, or misleading statements in any credit application or credit update; or (g) if we, in good faith, believe that your ability to repay what you owe is or soon will be impaired, or that you are unwilling to make your payments. If you are in default, we have the right to demand immediate payment of your full account balance without giving you notice. If immediate payment is demanded, you agree to continue paying Interest Charges until what you owe has been paid, and any shares that were given as security for your account may be applied toward what you owe. You agree to pay all reasonable costs of collection, including court costs and attorney's fees, and any cost incurred in the recovery of the Card. Even if your unpaid balance is less than your credit limit, you will have no credit available during any time that any aspect of your account is in default.

Appears in 4 contracts

Samples: Guaranty Agreement, Guaranty Agreement, www.arlingtoncu.org

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Default; Acceleration; Credit Suspension; Collection Costs. You will be in default if: (a) you fail to make any payment on time; (b) if you fail to keep any promises you have made under this Agreement or under other Agreements you have with us; (c) if you die; (d) if you file a petition in bankruptcy or have a bankruptcy petition filed against you, or if you become involved in any insolvency, receivership or custodial proceeding; (e) if anyone attempts to take any of your funds held by us via legal process or if you have a judgment or tax lien filed against you; (f) if you make any false, inaccurate, or misleading statements in any credit application or credit update; or (g) if we, in good faith, believe that your ability to repay what you owe is or soon will be impaired, or that you are unwilling to make your payments. If you are in default, we have the right to demand immediate payment of your full account Account balance without giving you notice. If immediate payment is demanded, you agree to continue paying Interest Charges until what you owe has been paid, and any shares that were given as security for your account Account may be applied toward what you owe. You agree to pay all reasonable costs of collection, including court costs and attorney's fees, and any cost incurred in the recovery of the Card. Even if your unpaid balance is less than your credit limit, you will have no credit available during any time that any aspect of your account Account is in default.

Appears in 3 contracts

Samples: Business Credit Card Agreement, Guaranty Agreement, Business Credit Card Agreement

Default; Acceleration; Credit Suspension; Collection Costs. You will be in default if: (a1) you fail to make any payment on time; (b2) if you fail to keep any promises you have made under this Agreement or under other Agreements you have with us; (c3) if you die; (d4) if you file a petition in bankruptcy or have a bankruptcy petition filed against you, or if you become involved in any insolvency, receivership or custodial proceeding; (e5) if anyone attempts to take any of your funds held by us via legal process or if you have a judgment or tax lien filed against you; (f6) if you make any false, inaccurate, or misleading statements in any credit application or credit update; or (g7) if we, in good faith, believe that your ability to repay what you owe is or soon will be impaired, impaired or that you are unwilling to make your payments. If you are in default, we have the right to demand immediate payment of your full account balance without giving you notice. If immediate payment is demanded, you agree to continue paying Interest Charges interest charges and fees until what you owe has been paid, and any shares that were given as security for your account may be applied toward towards what you owe. You agree to pay all reasonable costs of collection, including court costs and attorney's fees, and any cost costs incurred in the recovery of the Card, subject to applicable law. Even if your unpaid balance is less than your credit limit, you will have no credit available during any time that any aspect of your account is in default.

Appears in 1 contract

Samples: Credit Card Agreement

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Default; Acceleration; Credit Suspension; Collection Costs. You will be in default if: (a1) you fail to make any payment on time; (b2) if you fail to keep any promises you have made under this Agreement or under other Agreements you have with us; (c3) if you die; (d4) if you file a petition in bankruptcy or have a bankruptcy petition filed against you, or if you become involved in any insolvency, receivership or custodial proceeding; (e5) if anyone attempts to take any of your funds held by us via legal process or if you have a judgment or tax lien filed against you; (f6) if you make any false, inaccurate, or misleading statements in any credit application or credit update; or (g7) if we, in good faith, believe that your ability to repay what you owe is or soon will be impaired, or that you are unwilling to make your payments. If you are in default, we have the right to demand immediate payment of your full account balance without giving you notice. If immediate payment is demanded, you agree to continue paying Interest Charges interest charges and fees until what you owe has been paid, and any shares that were given as security for your account may be applied toward towards what you owe. You agree to pay all reasonable costs of collection, including court costs and attorney's fees, and any cost costs incurred in the recovery of the Card, subject to applicable law. Even if your unpaid balance is less than your credit limit, you will have no credit available during any time that any aspect of your account is in default. Suspension of electronic services and access to share or deposit accounts. Subject to applicable law, we may suspend some or all electronic services and access to your checking or other account(s) if you become delinquent on any of your credit card or deposit obligations to us or you cause a loss to us. We shall not be liable to you in any regard in connection with such suspension of services.

Appears in 1 contract

Samples: Mastercard Credit Card Agreement

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