I, the applicant, on behalf of the Account Holder:
1. Certify that; (a) I have attained the age of majority, (b) I am authorized to request a charge account be opened with PartSource in the name of the Account Holder, (c) all information supplied in this application is true and accurate, and (d) the Account Holder is not bankrupt or insolvent or the subject of any proceedings relating to bankruptcy or insolvency.
2. Agree to be bound by the terms and conditions stated in this application and that use of the charge account shall be confirmation of the same.
3. Undertstand that the charge account balance is required to be paid in full each month and that all arrears and overdue amounts will bear a minimum interest at the rate of 1.5% per month or 18% annum.
4. Agree to pay all collection fees, including without limitation, all legal fees incurred should this charge account be place for collection by PartSource in its sole discretion, at any time and for any reason.
5. Understand that any other PartSource charge accounts which I may currently have will not be cancelled until requeseted and paid in full.
6. Agree that: (a) the obligations provided herein may not be assigned without the prior written consent of PartSource, (b) if any provision hereof is determined to be invalid or unenforceable in whole or in part, such invalidity or unenforceability shall attach only to such provision or part thereof and all other remaining provisions or parts thereof shall continue in full force and effect, (c) no waiver of or failure to exercise any option, right or privilege hereunder shalll be construed as a waiver of any other option, right or privilege. (d) these terms and conditions shall be construed in accordance with the laws of the province in which the PartSource store is located, and the federal laws of Canada applicable therein, and (e) these terms and conditions shall constitute the entire understanding and agreement of and between the parties with respect to the subject matter hereof and may be amended only by a written docuemtn executed by the parties.Default If: (i) you do not make any payment when due under this agreement, (ii) you do not comply with any term or condition of this agreement or any other agreement that we have with you, (iii) you provided any incorrect or misleading information in any application, (iv) you become insolvent or bankrupt or insolvency proceedings are brought by or against you or you make a proposal to your creditors, (v) any of your property is seized or attached under any legal process, (vi) you die, or (vii) we reasonably believe that you are unable to make a payment or otherwise fulfill your obligations under this agreement (each, an event of default), We may: (a) terminate or restrict your rights under, and modify any terms of, this agreement, (b) demand that you pay the balance of your account(s) in full with interest at the applicable rate(s), (c) apply any credit balance that you have in any other account with us against the amount that you owe us under this agreement, (d) exercise all other rights and remedies that are available to us within the law. By signing below, I, the undersigned:
(a) request that a PartSource store charge account be opened for the above entity (the 'Account Holder'),
(b) agree to comply with the terms and conditions on the reverse side hereof if approved for the charge account,
(c) agree that PartSource may from time to time obtain credit bureau reports or other information deemed appropriate by PartSource for opening or maintaining a charge account with the Account Holder from any reporting agency or other source with whom it has or proposes to have a financial relationship
(d) authorize my financial Institution to disclose from time to time all necessary and pertinent information to open and maintain a charge account with PartSource and