Common use of New Accounts Clause in Contracts

New Accounts. (a) If any subsequent charge or other interest affects any Security Asset, the Finance Party may open a new account with the Chargor. (b) If the Finance Party does not open a new account, it will nevertheless be treated as if it had done so at the time when it received or was deemed to have received notice of that charge or other account. (c) As from that time all payments made to the Finance Party will be credited or be treated as having been credited to the new account and will not operate to reduce any Secured Liability.

New Accounts. (a) If any subsequent charge or other interest affects any Security Asset, the a Finance Party may open a new account with the Chargor. (b) If the Finance Party does not open a new account, it will nevertheless be treated as if it had done so at the time when it received or was deemed to have received notice of that charge or other account. (c) As from that time all payments made to the Finance Party will be credited or be treated as having been credited to the new account and will not operate to reduce any Secured Liability.

New Accounts. (a) If any subsequent charge or other interest affects any Security Asset, the a Finance Party may open a new account with the ChargorMortgagor. (b) If the Finance Party does not open a new account, it will nevertheless be treated as if it had done so at the time when it received or was deemed to have received notice of that charge or other account. (c) As from that time all payments made to the Finance Party will be credited or be treated as having been credited to the new account and will not operate to reduce any Secured Liability.

New Accounts. (a) If any subsequent charge or other interest affects any Security Asset, the a Finance Party may open a new account with the Chargor. (b) If the a Finance Party does not open a new account, it will nevertheless be treated as if it had done so at the time when it received or was deemed to have received notice of that charge or other accountinterest. (c) As from that time all payments made to the that Finance Party will be credited or be treated as having been credited to the new account and will not operate to reduce any Secured Liability.

New Accounts. (a) If any subsequent charge or other interest affects any Security Asset, the Finance Party may open a new account with the Chargor. (b) If the Finance Party does not open a new account, it will nevertheless be treated as if it had done so at the time when it received or was deemed to have received notice of that charge or other account. (c) As from that time all payments made to the Finance Party will be credited or be treated as having been credited to the new account and will not operate to reduce any Secured Liability.

New Accounts. (a) If any subsequent charge or other interest affects any Security Asset, the Finance Party may open a new account with in the name of the Chargor. (b) If the Finance Party does not open a new account, it will nevertheless be treated as if it had done so at the time when it received or was deemed to have received notice of that charge or other accountinterest. (c) As from that time all payments made to the a Finance Party will be credited or be treated as having been credited to the new account and will not operate to reduce any Secured LiabilityLiabilities.

New Accounts. (a) If any subsequent charge or other interest affects any Security Asset, the Finance Party may open a new account with in the name of a Chargor. (b) If the Finance Party does not open a new account, it will nevertheless be treated as if it had done so at the time when it received or was deemed to have received notice of that charge or other accountinterest. (c) As from that time all payments made to the a Finance Party will be credited or be treated as having been credited to the new account and will not operate to reduce any Secured LiabilityLiabilities.