Joint Plan definition
Examples of Joint Plan in a sentence
Each time you submit a credit application for another personal line of credit and/or credit card with a different co-applicant, you request that another Joint Plan be established for you.
After credit approval, each of your joint applicants shall have the right to use any account under a Joint Plan to the full extent of any credit limit set by BECU for the Joint Plan, and you will be liable for all amounts of credit extended under this account to all of your joint applicants.
When you have multiple active Plans (for example, a Joint Plan with one co-applicant and another Joint Plan with a different co-applicant) and you make a credit request, it is your responsibility to inform us under which of these Plans to establish your account.
You understand and agree that while a Joint Plan is in effect, you and the co-applicant of the Joint Plan: (a) has each authorized the other to individually request, authorize, or receive credit advances; (b) has each agreed to be jointly and severally liable for repayment of all amounts owed and for any loans obtained; and (c) has each agreed to all of the loan terms and conditions, even if you did not specifically authorize or request the credit advance or receive any benefit from it.
As a result of this ruling, on December 2, 2005, Continental Casualty Company and Continental Insurance Company ("CNA") filed a Joint Plan of Reorganization under Chapter 11 of the Bankruptcy Code for Congoleum Corporation, Congoleum Sales, Inc.