Common use of Overdue Accounts Clause in Contracts

Overdue Accounts. If the Minimum Payment as set out on a Billing Statement for an Account is not made, such amount becomes an overdue Debt and such Account becomes an overdue Account (“Overdue Account”). If Corporate Billing has been selected for a Customer Account, whether combined with Finance Office Billing or not, and the Overdue Account remains unpaid after thirty-one (31) days, Royal Bank will send the Customer a notice indicating that the Customer Account is an Overdue Account and that no further transactions (other than making a payment) may be made on any Account, and Royal Bank may thereafter decline acceptance of any Cardholder Account under that Customer Account. If the Overdue Account remains unpaid after sixty-one (61) days, Royal Bank will again send the Customer a notice indicating that the Customer Account is an Overdue Account. If the Overdue Account remains unpaid after ninety-one (91) days, Royal Bank will revoke the Customer Account and all Cardholder Accounts under the Customer Account, cancel the Commercial Card Program, may commence to convert all Debt outstanding on the Customer Account to a demand loan and assign a “special loans” officer to manage the relationship. If Individual Billing has been selected for a Customer Account, whether combined with Finance Office Billing or not, and the Overdue Account remains unpaid after thirty-one (31) days, Royal Bank will send the Customer a notice indicating that the Cardholder Account is an Overdue Account and that no further transactions (other than making a payment) may be made on that Cardholder Account. If the Overdue Account remains unpaid after sixty-one (61) days, Royal Bank will again send the Customer a notice indicating that the Cardholder Account is an Overdue Account. If the Overdue Account remains unpaid after ninety-one (91) days, Royal Bank will revoke the Cardholder Account. Royal Bank may also immediately revoke the Customer Account and all Cardholder Accounts under the Customer Account, cancel the Commercial Card Program, may commence to convert all Debt outstanding on the Customer Account to a demand loan and assign a “special loans” officer to manage the relationship. The Customer will pay the Overdue Accounts and all other amounts due under the Accounts to Royal Bank. Royal Bank will not attempt to collect amounts due on a Cardholder Account from an individual Cardholder.

Overdue Accounts. If the Minimum Payment as set out on a Billing Statement for an Account is not made, such amount becomes an overdue Debt and such Account becomes an overdue Account (“Overdue Account”). If Corporate Billing has been selected for a Customer Account, whether combined with Finance Office Billing or not, and the Overdue Account remains unpaid after thirty-one (31) days, Royal Bank will send the Customer a notice indicating that the Customer Account is an Overdue Account and that no further transactions (other than making a payment) may be made on any Account, and Royal Bank may thereafter decline acceptance of any Cardholder Account or VPA Account under that Customer Account. If the Overdue Account remains unpaid after sixty-one (61) days, Royal Bank will again send the Customer a notice indicating that the Customer Account is an Overdue Account. If the Overdue Account remains unpaid after ninety-one (91) days, Royal Bank will revoke the Customer Account and Account, as well as all Cardholder Accounts and VPA Accounts under the Customer Account, and cancel the Commercial Card Program, . Royal Bank may also commence to convert all Debt outstanding on the Customer Account to a demand loan and assign a “special loans” officer to manage the relationship. If Individual Billing has been selected for a Customer Account, whether combined with Finance Office Billing or not, and the Overdue Account remains unpaid after thirty-one (31) days, Royal Bank will send the Customer a notice indicating that the Cardholder Account or VPA Account is an Overdue Account and that no further transactions (other than making a payment) may be made on that Cardholder Account or VPA Account. If the Overdue Account remains unpaid after sixty-one (61) days, Royal Bank will again send the Customer a notice indicating that the Cardholder Account or VPA Account is an Overdue Account. If the Overdue Account remains unpaid after ninety-one (91) days, Royal Bank will revoke the Cardholder Account or the VPA Account. Royal Bank may also immediately revoke the Customer Account and Account, as well as all Cardholder Accounts and VPA Accounts under the Customer Account, cancel the Commercial Card Program, may and commence to convert all Debt outstanding on the Customer Account to a demand loan and assign a “special loans” officer to manage the relationship. The Customer will pay the Overdue Accounts Account(s) and all other amounts due under the Accounts to Royal Bank. Royal Bank will not attempt to collect (i) amounts due on a Cardholder Account from an individual Cardholder, or (ii) amounts due on a VPA Account from a VPA User or the VPA Account Holder in their personal capacity.

Overdue Accounts. If the Minimum Payment as set out on a Billing Statement for an Account is not made, such amount becomes an overdue Debt and such Account becomes an overdue Account (“Overdue Account”). If Corporate Billing has been selected for a Customer Account, whether combined with Finance Office Billing or not, and the Overdue Account remains unpaid after thirty-one (31) days, Royal Bank will send the Customer a notice indicating that the Customer Account is an Overdue Account and that no further transactions (other than making a payment) may be made on any Account, Account and Royal Bank may thereafter decline acceptance of any Cardholder Account under that Customer Account. If the Overdue Account remains unpaid after sixty-one (61) days, Royal Bank will again send the Customer a notice indicating that the Customer Account is an Overdue Account. If the Overdue Account remains unpaid after ninety-one (91) days, Royal Bank will revoke the Customer Account and all Cardholder Accounts under the Customer Account, cancel the Commercial Card Program, may commence to convert all Debt outstanding on the Customer Account to a demand loan and assign a “special loans” officer to manage the relationship. If Individual Billing has been selected for a Customer Account, whether combined with Finance Office Billing or not, and the Overdue Account remains unpaid after thirty-one (31) days, Royal Bank will send the Customer a notice indicating that the Cardholder Account is an Overdue Account and that no further transactions (other than making a payment) may be made on that Cardholder Account. If the Overdue Account remains unpaid after sixty-one (61) days, Royal Bank will again send the Customer a notice indicating that the Cardholder Account is an Overdue Account. If the Overdue Account remains unpaid after ninety-one (91) days, Royal Bank will revoke the Cardholder Account. Royal Bank may also immediately revoke the Customer Account and all Cardholder Accounts under the Customer Account, cancel the Commercial Card Program, may commence to convert all Debt outstanding on the Customer Account to a demand loan and assign a “special loans” officer to manage the relationship. The Customer will pay the Overdue Accounts and all other amounts due under the Accounts to Royal Bank. Royal Bank will not attempt to collect amounts due on a Cardholder Account from an individual Cardholder.

Overdue Accounts. If the Minimum Payment as set out on a Billing Statement for an Account is not made, such amount becomes an overdue Debt and such Account becomes an overdue Account (“Overdue Account”). If Corporate Billing has been selected for a Customer Account, whether combined with Finance Office Billing or not, and the Overdue Account remains unpaid after thirty-one (31) days, Royal Bank will send the Customer a notice indicating that the Customer Account is an Overdue Account and that no further transactions (other than making a payment) may be made on any Account, and Royal Bank may thereafter decline acceptance of any Cardholder Account under that Customer Account. If the Overdue Account remains unpaid after sixty-one (61) days, Royal Bank will again send the Customer a notice indicating that the Customer Account is an Overdue Account. If the Overdue Account remains unpaid after ninety-one (91) days, Royal Bank will revoke the Customer Account and Account, as well as all Cardholder Accounts under the Customer Account, and cancel the Commercial Card Program, . Royal Bank may also commence to convert all Debt outstanding on the Customer Account to a demand loan and assign a “special loans” officer to manage the relationship. If Individual Billing has been selected for a Customer Account, whether combined with Finance Office Billing or not, and the Overdue Account remains unpaid after thirty-one (31) days, Royal Bank will send the Customer a notice indicating that the Cardholder Account is an Overdue Account and that no further transactions (other than making a payment) may be made on that Cardholder Account. If the Overdue Account remains unpaid after sixty-one (61) days, Royal Bank will again send the Customer a notice indicating that the Cardholder Account is an Overdue Account. If the Overdue Account remains unpaid after ninety-one (91) days, Royal Bank will revoke the Cardholder Account. Royal Bank may also immediately revoke the Customer Account and all Cardholder Accounts under the Customer Account, cancel the Commercial Card Program, may commence to convert all Debt outstanding on the Customer Account to a demand loan and assign a “special loans” officer to manage the relationship. The Customer will pay the Overdue Accounts Account(s) and all other amounts due under the Accounts to Royal Bank. Royal Bank will not attempt to collect amounts due on a Cardholder Account from an individual Cardholder.

Overdue Accounts. If the Minimum Payment as set out on a Billing Statement for an Account is not made, such amount becomes an overdue Debt and such Account becomes an overdue Account (“" Overdue Account”"). If Corporate Billing has been selected for a Customer Account, whether combined with Finance Office Billing or not, and the Overdue Account remains unpaid after thirty-one (31) days, Royal Bank will send the Customer a notice indicating that the Customer Account is an Overdue Account and that no further transactions (other than making a payment) may be made on any Account, Account and Royal Bank may thereafter decline acceptance of any Cardholder Account under that Customer Account. If the Overdue Account remains unpaid after sixty-one (61) days, Royal Bank will again send the Customer a notice indicating that the Customer Account is an Overdue Account. If the Overdue Account remains unpaid after ninety-one (91) days, Royal Bank will revoke the Customer Account and all Cardholder Accounts under the Customer Account, cancel the Commercial Card Program, may commence to convert all Debt outstanding on the Customer Account to a demand loan and assign a “"special loans” " officer to manage the relationship. If Individual Billing has been selected for a Customer Account, whether combined with Finance Office Billing or not, and the Overdue Account remains unpaid after thirty-one (31) days, Royal Bank will send the Customer a notice indicating that the Cardholder Account is an Overdue Account and that no further transactions (other than making a payment) may be made on that Cardholder Account. If the Overdue Account remains unpaid after sixty-one (61) days, Royal Bank will again send the Customer a notice indicating that the Cardholder Account is an Overdue Account. If the Overdue Account remains unpaid after ninety-one (91) days, Royal Bank will revoke the Cardholder Account. Royal Bank may also immediately revoke the Customer Account and all Cardholder Accounts under the Customer Account, cancel the Commercial Card Program, may commence to convert all Debt outstanding on the Customer Account to a demand loan and assign a “"special loans” " officer to manage the relationship. The Customer will pay the Overdue Accounts and all other amounts due under the Accounts to Royal Bank. Royal Bank will not attempt to collect amounts due on a Cardholder Account from an individual Cardholder.

Overdue Accounts. If the Minimum Payment as set out on a Billing Statement for an Account is not made, such amount becomes an overdue Debt and such Account becomes an overdue Account (“Overdue Account”). If Corporate Billing has been selected for a Customer Account, whether combined with Finance Office Billing or not, and the Overdue Account remains unpaid after thirty-one (31) days, Royal Bank will send the Customer a notice indicating that the Customer Account is an Overdue Account and that no further transactions (other than making a payment) may be made on any Account, and Royal Bank may thereafter decline acceptance of any Cardholder Account or VPA Account under that Customer Account. If the Overdue Account remains unpaid after sixty-one (61) days, Royal Bank will again send the Customer a notice indicating that the Customer Account is an Overdue Account. If the Overdue Account remains unpaid after ninety-one (91) days, Royal Bank will revoke the Customer Account and all Cardholder Accounts and VPA Accounts under the Customer Account, cancel the Commercial Card Program, may commence to convert all Debt outstanding on the Customer Account to a demand loan and assign a “special loans” officer to manage the relationship. If Individual Billing has been selected for a Customer Account, whether combined with Finance Office Billing or not, and the Overdue Account remains unpaid after thirty-one (31) days, Royal Bank will send the Customer a notice indicating that the Cardholder Account or VPA Account is an Overdue Account and that no further transactions (other than making a payment) may be made on that Cardholder Account or VPA Account. If the Overdue Account remains unpaid after sixty-one (61) days, Royal Bank will again send the Customer a notice indicating that the Cardholder Account or VPA Account is an Overdue Account. If the Overdue Account remains unpaid after ninety-one (91) days, Royal Bank will revoke the Cardholder Account or VPA Account. Royal Bank may also immediately revoke the Customer Account and all Cardholder Accounts and VPA Accounts under the Customer Account, cancel the Commercial Card Program, may commence to convert all Debt outstanding on the Customer Account to a demand loan and assign a “special loans” officer to manage the relationship. The Customer will pay the Overdue Accounts and all other amounts due under the Accounts to Royal Bank. Royal Bank will not attempt to collect (i) amounts due on a Cardholder Account from an individual Cardholder, or (ii) amounts due on a VPA Account from a VPA User or the VPA Account Holder in their personal capacity.