DEFAULT AND COLLECTION. If you do not make a required payment when due or you fail to comply with any of the terms of this Agreement we may, subject to applicable law, declare the entire balance of your Account due and payable at once without notice or demand. We may also do this if you have made false or misleading statements to us or if you die or become the subject of bankruptcy or insolvency proceedings. If we begin legal proceedings to collect what you owe us, you must pay all legal costs including any attorney’s fees that the court or arbitrator may allow.
DEFAULT AND COLLECTION. You will be in default under this Agreement if any one or more of the following events occurs: (1) you fail to pay when due any amount owing by you under this Agreement; (2) you exceed the credit limit on your Account without our permission or you violate or fail to comply with or perform any of the other terms of this Agreement; (3) you are in default under the terms of your Credit Agreement and Security Agreement with us or any security agreement executed by you in our favor in connection therewith, (or, if applicable, any chattel mortgage or other security document collateralizing any indebtedness you may have to us under this Agreement or your Credit Agreement and Security Agreement); (4) any statement or representation made by you or on your behalf in connection with this Agreement is false, misleading or incomplete in any way as of the date made; (5) you fail to pay when due any present or future indebtedness you may have with us; (6) you are in default under any other agreement you may have with us; (7) you die or become incompetent (8) you file for bankruptcy or other similar relief under the Federal Bankruptcy Code; (9) you are insolvent or unable to pay your debts as they mature; (10) for any reason you cease to be a Member of the Credit Union, including withdrawal or expulsion, or (11) any other event occurs which causes us in good faith to believe that the prospect of your repayment of your indebtedness under this Agreement is impaired. If you are in default under this Agreement, we may, in our discretion and without demand upon or notice to you declare immediately due and payable all amounts owing by you under this Agreement. You will continue to pay a finance charge on the amount so declared due and payable at the default rate and terms shown on the Addendum. If we must collect your indebtedness through a collection agency, attorney or a legal proceeding, you will pay all of our costs in so doing, including collection agency fees, reasonable attorney’s fees and court costs. We also may, in our sole discretion and without demand upon or notice to you, exercise any rights and remedies we may have under the terms of any Security Agreement (or, if applicable, chattel mortgage or other security document) collateralizing your indebtedness under this Agreement or under any applicable law. NOTICE – As required by law, you are hereby notified that a negative credit report reflecting on your credit record may be submitted to a credit reporting agency i...
DEFAULT AND COLLECTION. It is expressly provided that, upon default in the punctual payment of this Note, or any part hereof, principal or interest, as the same shall become due and payable, or upon default in the performance of or compliance with any of the terms of any of the Collateral Agreements, or if the Payee deems the Payee insecure, either because the prospect of timely payment of this Note becomes impaired, or because the prospect of timely performance of any of the Collateral Agreements becomes impaired, at the option of the Payee, the entire indebtedness evidenced hereby shall be matured, and in the event default is made in the prompt payment of this Note when due or declared due, and the same is placed in the hands of an attorney for collection, or suit is brought on the same, or the same is collected through probate, bankruptcy or other judicial proceedings, then the Makers jointly and severally agree and promise to pay all reasonable attorney's fees, court costs and collection costs incurred by the Payee.
DEFAULT AND COLLECTION. If I fail to make payment of any installment on time, the entire unpaid balance including service charges, plus any applicable penalty charges may, at the sole option of AU, become immediately due and payable. I understand and agree that if I default on my scheduled payment, AU and/or its collection agent may disclose the fact that I have defaulted, along with other relevant information, to credit reporting organizations. I promise to pay all attorney's fees and other collection costs and charges necessary for the collection of my amount not paid when due. If a collection agency subject to the Fair Debt Collection Practices Act is used, I will pay all collection costs and service charges. I waive my right to privacy with regard to the disclosure of any and all information to any party, organization, business or entity in an effort to collect any debt owed under this agreement. CHANGE IN NAME, ADDRESS, E-MAIL ADDRESS, OR PHONE NUMBER I am responsible for informing the AU records office of any changes in my name, address, email address, or phone number within thirty (30) days of any such change. GRADUATION/COMPLETION RATES According to regulations published by the Department of Education based on the Student Right-to-Know Act, the graduation/completion rates for first-time, full-time students who entered school and graduated/completed within 150% of the normal time to complete the program must be made available to current and prospective students. You may obtain this information in the Admissions Department.
DEFAULT AND COLLECTION. If Customer fails to pay any amount due under the terms and conditions of this Contract within thirty (30) days of billing date, Customer will be assessed a late charge of 1.5% per month (18% annual percentage rate) of the past due amount. Upon the second such failure Summit shall have the right to declare the entire balance due under the Contract immediately due and payable, including any discounts shown on the face of the Contract. Summit may, at its discretion, suspend or cancel Customer’s products and/or services until account is current. Customer agrees to pay the reasonable costs incurred by Summit in enforcement and collection of this debt including reasonable attorneys’ fees, court costs, agency fees and other collection expenses. Any failure by Summit to enforce its rights under this paragraph shall not be construed as a waiver of such rights.
DEFAULT AND COLLECTION. Subject to the express notice and cure provisions contained in this Note, it is expressly provided that, upon default in the punctual payment of this Note, or any part hereof, principal or interest, as the same shall become due and payable, or upon default in the performance of or compliance with any of the terms of any of the Collateral Agreements, or if the Payee deems the Payee insecure, either because the prospect of timely payment of this Note becomes impaired, or because the prospect of timely performance of any of the Collateral Agreements becomes impaired, at the option of the Payee, the entire indebtedness evidenced hereby shall be matured, and in the event default is made in the prompt payment of this Note when due or declared due, and the same is placed in the hands of an attorney for collection, or suit is brought on the same, or the same is collected through probate, bankruptcy or other judicial proceedings, then the Makers jointly and severally agree and promise to pay all reasonable attorney's fees, court costs and collection costs incurred by the Payee.
DEFAULT AND COLLECTION. Subject to the express notice and cure rights described in this Note, it is expressly provided that, upon default in the punctual payment of this Note, or any part hereof, principal or interest, as the same shall become due and payable, or if the Lender deems itself insecure, either because the prospect of timely payment of this Note becomes impaired, or because the prospect of timely performance of any of the Collateral Agreements becomes impaired, at the option of the Lender, the entire indebtedness evidenced hereby shall be matured, and in the event default is made in the prompt payment of this Note when due or declared due, and the same is placed in the hands of an attorney for collection, or suit is brought on the same, or the same is collected through probate, bankruptcy or other judicial proceedings, then the Makers jointly and severally agree and promise to pay all reasonable attorney's fees, court costs and collection costs incurred by the Lender.
DEFAULT AND COLLECTION. It is expressly provided that, upon default in the punctual payment of this Note, or any part hereof, principal or interest, as the same shall become due and payable, or if the Payee deems the Payee insecure because the prospect of timely payment of this Note becomes impaired, at the option of the Payee, the entire indebtedness evidenced hereby shall be matured, and in the event default is made in the prompt payment of this Note when due or declared due, and the same is placed in the hands of an attorney for collection, or suit is brought on the same, or the same is collected through probate, bankruptcy or other judicial proceedings, then the Makers jointly and severally agree and promise to pay all reasonable attorney's fees, court costs and collection costs incurred by the Payee.
