I. THE PARTIES. This monthly payment plan agreement dated {{right_now.middle_endian_date}} is by and between:
The Creditor: Credit Factor USA, with mailing address of 8 The Green Suite A, city of Dover, State of Delaware, Zip 19901 ("Creditor") and:
The Debtor: {{contact.name}}, with a mailing address of {{contact.address1}}, City of {{contact.city}} , State of {{contact.state}} , Zip of {{contact.postal_code}} ("Debtor")
HEREINAFTER, The Debtor and The Creditor ("Parties") agrees to the following:
II. The Debtor agrees to re-pay in full the total amount of all invoiced charges to the Debtor's account for services rendered by Credit Factor USA ("Creditor") to the Debtor. All monthly payment agreements will shall be charged a one time initiation fee of $49.95 to be paid in addition to the first monthly payment. No interest will be charged or accrued to any outstanding balance between the Creditor and the Debtor.
III. At any point chosen by the Debtor, the remaining outstanding balance for services rendered can be commuted by the Debtor by making a one time payment in full for a 10 percent discount or 90 percent of the total remaining balance, rendering this agreement null and void after receipt of the full payment.
IV. Repayment Plan. To satisfy the amount owed, the Debtor agrees to re-pay the Creditor under the following terms:
The Debtor shall re-pay the Creditor on a monthly basis, beginning on {{right_now.middle_endian_date}} in the amount of $99.95 per month to be paid on the 10th of every month, until the amount owed for services rendered is paid-in-full.
V. Late Payment. Any payment made after its due date or any payment made which is less than the contracted payment amount of $99.95, will be marked as a "Late or Partial Payment".
The Debtor is allowed to make a late or partial payment with in 30 days of the original payment due date, provided the Debtor agrees to pay a late fee of $25.00, which will be charged to the debtors next monthly payment on the next monthly bill cycle.
If payment is not received within the designated extension period, this Agreement shall be in default.
VI. Default. If for any reason the debtor should not oblige to any section or portion of the agreement, the Debtor shall be considered in default. Under such an event, the remaining outstanding balance shall come due in full after a period of 60 days from the original missed payment due date. Credit Factor USA ("Creditor") reserves the right to charge off the debt if no payments are received from the debtor after a period of 180 days with no payments made by the Debtor. Written communication of this event will be sent by the Creditor to the Debtor. The Debtor shall be liable to pay all reasonable attorney fees and costs of collection of the Creditor.
VII. Governing Laws. This Agreement shall be governed by, and construed in accordance with, the laws of the state of Delaware. ("Governing Laws")
VIII. Severability. The unenforceability or invalidity of any clause in this agreement shall not have an impact on the enforceability or validity of any other clause. Any unenforceable or invalid clause shall be regarded as removed from this agreement to the extent that it is unenforceable or invalid. Therefor, this Agreement shall be interpreted and enforced as if it did not contain the said clause to the extent of its unenforceability and invalidity.
IX. Entire Agreement. This Agreement contains all terms agreed to by the Debtor and Credit Factor USA ("Creditor") relating to this subject matter. This Agreement replaces all previous discussions, understandings, and oral agreements.
IN WITNESS WHEREOF, The Parties have executed this Agreement as undersigned below: