Common use of Amounts owed to PayPal Clause in Contracts

Amounts owed to PayPal. If your account becomes negative for any reason, this represents an amount you owe to PayPal. PayPal may deduct amounts owed from funds that are added to your account later, either by you or from payments you receive. If you have more than one account, we may set off one account against amounts in your other account(s). If you continue using your account when it is negative, you authorize PayPal to combine the negative amounts owed with any debit or transaction sent from your account when that combination is disclosed to you in advance of initiating the debit or transaction. If you hold funds in an account in multiple currencies, and one of the currencies becomes negative for any reason, PayPal may set off the negative amount by using funds you maintain in a different currency. A currency conversion will be necessary, and PayPal’s transaction exchange rate (including our currency conversion fee) will be used. In addition to the above, if you have a past due amount owed to us or our affiliates, PayPal may debit your account to pay any amounts that are past due. Insolvency proceedings If any proceeding by or against you is commenced under any provision of any other bankruptcy or insolvency law, we’ll be entitled to recover all reasonable costs or expenses (including reasonable legal fees and expenses) incurred in connection with the enforcement of this user agreement.

Amounts owed to PayPal. ‌ If your PayPal account becomes negative for any reason, this represents an amount you owe to PayPal. PayPal may deduct amounts owed from funds that are added to your PayPal account later, either by you or from payments you receive. If you have more than one PayPal account, we may set off one PayPal account against amounts in your other PayPal account(s). If you continue using your PayPal account when it is negative, you authorize PayPal to combine the negative amounts owed with any debit or transaction sent from your account when that combination is disclosed to you in advance of initiating the debit or transaction. If you hold funds in an a PayPal account in multiple currencies, and one of the currencies becomes negative for any reason, PayPal may set off the negative amount by using funds you maintain in a different currency. A currency conversion will be necessary, and PayPal’s transaction exchange rate (including our currency conversion fee) will be used. In addition to the above, if you have a past due amount owed to us or our affiliates, PayPal may debit your PayPal account to pay any amounts that are past due. Insolvency proceedings If any proceeding by or against you is commenced under any provision of any other bankruptcy or insolvency law, we’ll be entitled to recover all reasonable costs or expenses (including reasonable legal fees and expenses) incurred in connection with the enforcement of this user agreement.