Common use of Our Rights Upon Your Default Clause in Contracts

Our Rights Upon Your Default. Once you are 7 days late on your payment on your Believe Account, we are authorized to exercise all of our rights under the security interest that you have granted to us in the Secured Funds in your Believe Secured Account. Without limiting the foregoing and to the extent permitted by law, we may act as owner of the Believe Secured Account, withdraw Secured Funds from the Believe Secured Account, and apply all or any portion of the Secured Funds at any time(s) to repayment of the Debt and our costs in enforcing our rights hereunder and under the Believe Secured Account Agreement. Your Believe Card privileges may also be suspended, subject to reinstatement at our discretion. We are irrevocably appointed as attorney-in-fact for the limited purpose of executing any instruments required to satisfy the Debt.

Our Rights Upon Your Default. Once you are 7 31 days late on your payment on your Believe Account, we are authorized to exercise all of our rights under the security interest that you have granted to us in the Secured Funds in your Believe Secured Vault Account. Without limiting the foregoing and to the extent permitted by law, we may act as owner of the Believe Secured Vault Account, withdraw Secured Funds from the Believe Secured Vault Account, and apply all or any portion of the Secured Funds at any time(s) to repayment of the Debt and our costs in enforcing our rights hereunder and under the Believe Secured Vault Account Agreement. Your Believe Card privileges may also be suspended, subject to reinstatement at our discretion. We are irrevocably appointed as attorney-in-fact for the limited purpose of executing any instruments required to satisfy the Debt.