Common use of Credit, Payment and Collection Clause in Contracts

Credit, Payment and Collection. Your bill will be based on monthly meter readings provided to XOOM by your EDC. If there is an error in your meter reading, XOOM will adjust its bill to you upon your EDC providing a corrected meter reading to XOOM. You represent that you are financially able and willing to fulfill the terms and conditions of this Agreement and that you have not filed, are not in the process of filing or plan to begin any bankruptcy proceedings. Your first bill payment will be due to the EDC on the date specified in the EDC bill. If you do not pay it on time, you could be subject to interest and late charges imposed by the EDC, and your service could be disconnected by the EDC. In all events, you shall remain obligated to pay for all electricity received by you and any interest, fees and penalties incurred by XOOM. You will also be responsible for all costs, including legal fees, associated with the collection of amounts owed to XOOM.