Common use of Recovery Clause in Contracts

Recovery. You must pay, on demand, amounts due and any costs associated with collection or attempted collection of amounts due whether in respect of an Account or the Credit Union’s costs in enforcing its rights under this Agreement including collection agent’s costs and actual out of pocket legal costs. You agree to pay the Credit Union for any cost the Credit Union may incur relating to the administration or operation of the Account, including costs incurred: o in responding to any legal notice, seizure, demand or other court process governing the Account, or in responding to or complying with court orders, warrants, summons to witnesses, subpoenas, statutory demands, or investigations or responding to any investigation, proceeding, or requirement to provide information, including those in which copies of your financial information or records are sought or required from the Credit Union; or o in dealing with any dispute between Account holders or others claiming an interest in or relating to the operation of the Account. The above costs include legal fees (on a solicitor and client basis), fees for administrative time, communication costs, transmission or delivery costs, and costs for retrieval and copying of documents. The Credit Union may charge these costs to any Account you hold with the Credit Union.