Common use of Liability for Payment Clause in Contracts

Liability for Payment. The Cardholder authorizes the Bank to charge the Account for all Purchases, Balance Transfers and Cash Advances resulting from the use of the Card or the Account. The Cardholder shall pay to the Bank all amounts owed on the Account, including, without limitation, the amounts paid or advanced by the Bank on all Purchases, Balance Transfers and Cash Advances, any interest charges assessed on the Account, and any other fees and charges the Cardholder owes to the Bank under the terms of this Agreement, by any method of payment that is acceptable to the Bank provided it is in United States dollars, in accordance with the terms of this Agreement. If the Account is a joint Account, each Cardholder agrees to pay all amounts owed to the Bank on the Account. Each Cardholder on a joint Account shall be jointly, severally, and solidarily liable for the payment of all amounts owed to the Bank on the Account, regardless of which Cardholder or Authorized User used the Account.