PROVISIONS OF APPLICATION
For consideration for open account terms with Central Paper Co., Inc., Applicant hereby agrees to al Terms and Conditions as set forth within these Provisions. This application and information contained herein is a request on the part of the Applicant for extension of credit for commercial business use only. The undersigned certifies that he/she is an owner/officer of the Applicant, and that the Applicant that he/she represents is doing business as a Corporation, Partnership, or Sole Proprietorship. If Applicant is a partnership of sole proprietorship, it is a requirement of this Contract that Applicant notify Central Paper Co., Inc., in letter form by certified mail should Applicant incorporate. Any other form of communication will not constitute a valid notification and Applicant by such act waives all rights thereto.
Applicant authorizes Central Paper Co., Inc., to obtain written or oral credit report(s) from any source of its choosing. Applicant authorizes any bank or commercial business with whom Applicant has either current or active experience to give any and all necessary information to Central Paper Co., Inc., which will be of assistance to it in conducting the credit investigation. Applicant further authorizes Central Paper Co., Inc., to re-investigate Applicant’s credit status as it deems necessary to maintain, increase, limit, terminate or otherwise modify the Credit Agreement with Applicant. Central Paper Co., Inc., reserves the right to terminate, decrease, limit or otherwise modify any future extension of credit without notice to the Applicant.
In the event that any portion of the Applicant’s account becomes delinquent, Central Paper Co., Inc., may demand immediate payment in full of the entire unpaid account balance. Also in the event that any portion of the Applicant’s account becomes delinquent, Applicant agrees to pay Central Paper Co., Inc., late charges up to the maximum amount allowed by law, but not to exceed on and on-half (1.5) percent per month of any unpaid balance(s) 30 days or more past due. In the event that the Applicant’s account is placed for collections with a collection agency, commercial forwarder, or attorney, Applicant agrees to reimburse, indemnify and pay Central Paper Co., Inc., an amount equal to thirty-five (35) percent of the balance placed, over and above said balance.
Applicant hereby irrevocably and unconditionally submits to the non-exclusive jurisdiction of all state and federal courts sitting in Jefferson County, Alabama, and agrees that all summons and other court process issued by said courts may be served upon Applicant, within or outside said courts’ territorial jurisdiction, by mailing the same, by registered or certified mail, or by personal service, to Applicant at its address specified herein; provided that nothing contained herein shall limit Central Paper Company’s right to sue Applicant in any other court having jurisdiction over Applicant or its assets and to serve summons or other court process upon guarantor in any manner permitted by applicable law. Applicant herein agrees that the terms of this provision take precedence over any other contractual agreement.
Applicant waives any right it may have to trial by jury in respect of any litigation based on or arising out of, under or in connection with this Guaranty or any course of conduct, course of dealing or other action by Central Paper Company in connection herewith or in connections with the obligations.
By signing this contract, Applicant agrees to indemnify and save harmless Central Paper Co., Inc., its Directors, Officers, Employees, Successors and assigns from all claims, damages, suits, liabilities, or causes of action of every kind and nature whatsoever that are a result of misuse of or damage to the products purchased from Central Paper Co., Inc., by Applicant’s employee, agents or customers.
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