Common use of Settlement of Obligations Clause in Contracts

Settlement of Obligations. To the fullest extent permitted by applicable law, you authorize us to obtain payment of your obligations to us under this Agreement from time to time by (a) initiating debit or credit transfers to any of your accounts or (b) deducting the payment from the amount of any bank transfer or bill payment. Debiting an account or deducting payment from the amount of any bank transfer or bill payment is not the Credit Union's exclusive remedy under this or any other section of this Agreement; therefore, the Credit Union will not be deemed to have made an election of remedies by making any such debit or deduction on any one or more occasions.

Settlement of Obligations. To the fullest extent permitted by applicable law, you authorize us to obtain payment of your obligations to us under this Agreement from time to time by (a) initiating debit or credit transfers to any of your accounts or (b) deducting the payment from the amount of any bank transfer or bill payment. Debiting an account or deducting payment from the amount of any bank transfer or bill payment is not the Credit UnionBank's exclusive remedy under this or any other section of this Agreement; therefore, and the Credit Union Bank will not be deemed to have made an election of remedies by making any such debit or deduction on any one or more occasions.