Suspense account. For the purposes of enabling the Bank to preserve intact the liability of any party including the Cardmember once a writ or summons has been issued or to prove in the Cardmember’s bankruptcy or insolvency or for such other reasons as the Bank thinks fit the Bank may at any time place and keep for such time as the Bank may think prudent any monies received, recovered or realized hereunder or under any other security or guarantee to the Cardmember’s credit as the Bank shall think fit without any intermediate obligation on the part of the Cardmember to apply the same or any part thereof in or towards the discharge of the sums due and owing to the Bank.
Appears in 16 contracts
Samples: Cardmember Agreement, Cardmember Agreement, Cardmember Agreement
