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EZ Credit Form

EZ Credit Form

Apply for credit in 5 easy steps!

Step 1 of 5 - General Information

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CREDIT AGREEMENT
TheThe undersigned on behalf of Firm noted on the face hereof hereby makes application for credit and provides the information contained herein and/or
attached hereto, which is warranted to be true and correct, for the purpose of including MIDCOM Data Technologies, Inc.(MIDCOM) to make periodic sales
of goods and services to Firm on credit. Firm authorizes MIDCOM Data Technologies, Inc. to verify with third parties any of the information concerning Firm
submitted in this applica tion, including credit history, which information Firm understands that MIDCOM Data Technologies, Inc. is relying upon for the
purpose of granting credit to Firm. Credit may be extended on open account, by billing or invoicing, by C.O.D. terms based on any form of payment other than
cash, or by any other method of credit extension. If credit is so extended, Firm agrees that:

  1. Firm will pay when due, according to MIDCOM approved NET 30 terms, all bills, statements, accounts and invoices from MIDCOM Data Technologies, Inc.
    with said payment to be made to MIDCOM Data Technologies, Inc. at 2625 E. Oakley Park Rd. – Suite 125, Commerce TWP, Michigan 48390, or at such
    other place or places as MIDCOM Data Technologies, Inc. may direct.
  2. Full payment is due within 30 calendar days of the invoice date. All past-due accounts shall be subject to a late payment charge at the rate of 1.5% per
    month on the outstanding balance (which is a simple interest rate of 18% annually), or the maximum legal rate, whichever is less. If MIDCOM Data
    Technologies, Inc. hires an attorney or collection agency to collect any balance due, the customer will pay reasonable attorney fees, collection costs, and
    court costs as permitted by law.
  3. Firm grants MIDCOM Data Technologies, Inc. a security interest in all goods sold to Firm by MIDCOM Data Technologies, Inc., substitutions therefore, addi
    tions or accessions thereto, and the proceeds of each, to secure performance hereof by Firm. Payments by Firm’s commercial account will be allocated in
    their entirety to the unpaid balance remaining from each sales to Firm on Firm’s commercial account in order of the occurrence. When the unpaid balance
    from that sales is fully paid, the security interest created hereby will terminate unless Firm is in default, Firm appoints MIDCOM Data Technologies, Inc. as
    attorney-in-fact for Firm to execute Financing Statements necessary to perfect MIDCOM Data Technologies, Inc.’s security interest. This appointment of
    MIDCOM Data Technologies, Inc. as Firm’s attorney-in-fact is coupled with an interest and is irrevocable. MIDCOM Data Technologies, Inc. may assign this
    agreement, in which event the assignee shall be entitled to all of the rights and remedies of MIDCOM Data Technologies, Inc. hereunder.
  4. If Firm is in default hereunder, MIDCOM Data Technologies, Inc., in addition to MIDCOM Data Technologies, Inc.’s other remedies, may enter upon Firm’s
    premises to take possession of, assemble and collect the merchandise or render it unusable, or require Firm at Firm’s sole cost and expenses to assem
    ble the merchandise and make it available at or ship said merchandise to a place MIDCOM Data Technologies, Inc. designates. MIDCOM Data
    Technologies, Inc. will give Firm at least ten (10) days prior notice of the time and place of sale or of the time after which any private sales of other dispo
    sition is to be made. Firm agrees such notice is reasonable. Firm will be in default if the statement made by Firm in connection with this agreement is false;
    Firm fails to perform any of its obligation herein; or Firm fails to pay its commercial account with MIDCOM Data Technologies, Inc. when due.
  5. MIDCOM Data Technologies, Inc., at its sole discretion, may at any time cease further extensions of credit to Firm.
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