By engaging with Green Lion Produce Inc. through (i) submitting an application online or (ii) registering for online or mobile services for your account, you provide your consent to receive electronic communications from us concerning your account. This consent ensures you are informed and up-to-date with all aspects of your dealings with Green Lion Produce Inc.
- DEFINITIONS. In this Agreement, the words “you” and “your” refer to the person or entity that signs the Application or on whose behalf the Application is signed. “We”, “us” and “our” refer to Green Lion Produce Inc. and any Assignee to which this Agreement and/or the indebtedness hereunder is assigned. “Account” means the Business Account with us established by this Agreement and which shall be used for the purchase of merchandise and/or services from Green Lion Produce Inc., and any of its affiliates and subsidiaries (referred to herein as “Seller”) for your business use.
- PROMISE TO PAY. You may buy from Green Lion Produce Inc. merchandise (including any related services) described in the sales invoice(s) for the cash price(s) shown on such invoice(s). By signing this Agreement (if applicable), you have requested that we establish this Business Account for your business use and that we permit you to finance your purchase from Green Lion Produce Inc. on credit under the terms of this Agreement. Any other terms set out in your purchase order or in any other or different form will not apply, even though such purchase order or other or different form may be submitted to or accepted by us in connection with a purchase. If you elect to make purchases (including mail order, Internet, catalogue and phone order, if any) under this Account from time to time, you agree to pay for all purchases charged to your Account a time/price differential (herein referred to as “Finance Charge”) and all other charges mentioned below, according to the terms of this Agreement. You understand that we will be unable to determine whether any given purchase charged on your Account was in fact authorized by and for the benefit of the business in whose name the Account is established. You agree that your promise to pay, as contained in this section of this Agreement, will apply to all purchases made by any of you whether or not the purchase was in fact authorized by and for the benefit of that business. You agree that this Account shall be used only for the purchase of merchandise for commercial or business purposes, and not for personal, family, or household purposes. Any person signing the Application on behalf of a business attests that the Buyer is a valid business entity or a qualified religious, educational, or other non-profit entity, or a governmental agency or instrumentality; and that the Buyer has authorized
(a) the execution of the Application, and(b) the person signing the Application to execute the Application on its behalf.
(b) Responsibility for Employee Orders: The owner of the establishment to which Green Lion Produce Inc. supplies (“the Buyer”) shall be responsible for all orders placed by the employees of the Buyer under this Account. The Buyer acknowledges and agrees that it is the Buyer’s obligation to supervise and control the ordering activities of its employees and that the Buyer will be held financially responsible for any purchases made by its employees that are charged to this Account.
- FINANCE CHARGE: When your Account has a balance subject to Finance Charge (as described in paragraph 4 below), we will assess a periodic Finance Charge calculated by applying a daily (monthly in PR) periodic rate (“periodic rate”) to that balance. The periodic rate is .05754% (1.75% in PR) (ANNUAL PERCENTAGE RATE 21.00%).
- BALANCE SUBJECT TO FINANCE CHARGE: We will figure the balance subject to Finance Charge as follows: each day, we take the beginning balance of your Account, which includes any unpaid Finance Charges, and subtract any payments and other credits. We also add any new purchases and other debits for that day and any Late Payment Fees assessed that day. This gives us the Daily Balance. Any Daily Balance less than zero will be treated as zero. Then we multiply the Daily Balance by the applicable periodic rate and add that daily Finance Charge to the balance to determine that day’s closing balance, which will be the opening balance for the following day. At the end of the billing period, we add up the results of the daily Finance Charge calculations to get the total Finance Charge for the billing period. However, there will be no balance subject to Finance Charge for a billing period if there is no Previous Balance on your Account for the billing period or the sum of your payments and credits on your Account during the billing period is at least equal to the Previous Balance.
- WHEN FINANCE CHARGES BEGIN TO ACCRUE: If there is no Previous Balance for the billing period or the sum of your payments and credits for the billing period is at least equal to the Previous Balance, new Purchases and other charges that are not paid by the Payment Due Date shown on your Statement will begin to accrue a Finance Charge as of the first day after the Statement Date. Otherwise, new purchases and other charges will incur a Finance Charge from the later of the date of the transaction or the first day of the billing period in which they are posted to your Account.
- MINIMUM MONTHLY PAYMENT: You agree to pay a Minimum Monthly Payment in an amount equal to the sum of:Full amount on your Statement;
PLUS Any Late Payment Fees charged in the current billing period;
PLUS All Finance Charges in the current billing period PLUS Any past due amounts.We round up to the next highest whole dollar in figuring your Minimum Monthly Payment.Your Minimum Monthly Payment will never be more than your New Balance. You may at any time pay your entire balance in full or more than the Minimum Monthly Payment. All Payments, except Disputed Payments, must be mailed or delivered to us at the address shown on your Statement (the “Payment Address”).
Any payments received after 5:00 p.m. (PT) on any business day, or on any day other than a business day, will be credited on the next business day. We may also offer services in which you may pay your bill by telephone (“Pay by Phone”) or through the Internet.
- LATE PAYMENT FEE: We may impose a Late Payment Fee, based on your New Balance at the time your delinquent Minimum Payment was calculated, as indicated below, if we have not received your required Minimum Payment by 5:00 p.m. (PT) on the PaymentDue Date shown on your Statement.
New Balance Late Payment Fee minimum of 40$ or periodic rate (paragraph 3) - SECURITY INTEREST: To secure your obligation to us, we retain a security interest, under the Uniform Commercial Code in each item of merchandise you purchase until that item is paid in full. This security interest permits us, under certain circumstances provided for by law, to take back, or repossess the merchandise if you do not pay for it under the terms of this Agreement.
- TERMINATION/CHANGE IN TERMS: You may at any time terminate this Agreement. We may, at any time and subject to applicable law:(a) terminate this Agreement;(b) terminate your right to make future purchases;
(c) change your credit limit; or
(d) change any term or condition of, or add new terms to, this Agreement relating to your Account. Unless prohibited by applicable law, we may apply any changed or new terms to any outstanding balance of your Account on the effective date of the change and to any future balances created after that date. When required by applicable law, we will mail a notice of any change(s) or addition(s) to you. Upon any termination of this Agreement, you will continue to be obligated to pay all amounts owing under, and to otherwise perform the terms and conditions of, this Agreement. No change to any term of this Agreement will affect your obligation or the obligation of any Personal Guarantor of this Agreement to pay, in full, all amounts owing under this Agreement or otherwise perform the terms and conditions of the Agreement or any related guaranty.
- DEFAULT: Subject to the limitations of applicable law, we may declare that you are in default under this Agreement if you:(a) fail to make at least the Minimum Payment when due;
(b) violate any other term of this Agreement;
(c) become the subject of bankruptcy or insolvency proceedings; or
(d) exceed the credit limit on your Account. After your default, and subject to the limitations of applicable law, we have the right to:
(i) reduce your credit limit; (ii) terminate your Account, in which case the terms of this Agreement will apply until full payment owing on your Account is received, including Finance Charges which we will continue to impose to the date of full payment;
(iii) require immediate payment of your entire Account balance, all accrued but unpaid Finance Charges (if applicable), and all fees and other charges listed in this Agreement; and (iv) bring an action to collect all amounts owed. If, after your default, we refer your Account for collection to an attorney who is not our salaried employee, we may, to the extent permitted by applicable law, charge you or collect from you our collection costs, including court costs and reasonable attorney’s fees. - CREDIT REPORTS AND ACCOUNT INFORMATION: The credit of your business and the personal credit of any Personal Guarantor will be used in making credit decisions. You authorize us to investigate the creditworthiness of your business by obtaining credit reports and making other inquiries as we deem appropriate. Any individual signing the Application, including any Personal Guarantor, authorizes us to investigate his/her personal credit history by obtaining consumer credit reports and by making direct inquiries of businesses where his/her accounts are maintained. In the event that this Account is not paid as agreed, we may report the liability of your business and the Personal Guarantor, and the status of this Account, to credit bureaus and others who may lawfully receive such information.
- CREDIT APPROVAL: This Account and all purchases made under it are not binding on us until your credit is approved. This Agreement will be considered approved when we give notice of approval to you.
- GOVERNING LAW: THIS AGREEMENT AND YOUR ACCOUNT ARE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF CALIFORNIA (WITHOUT REGARD TO INTERNAL PRINCIPLES OF CONFLICTS OF LAW), AND APPLICABLE FEDERAL LAW. THE LEGALITY, ENFORCEABILITY AND INTERPRETATION OF THIS AGREEMENT AND THE AMOUNTS CONTRACTED FOR, CHARGED AND RECEIVED UNDER THIS AGREEMENT WILL BE GOVERNED BY SUCH LAWS.
- ASSIGNMENT: We may sell, assign, or transfer all or any portion of your Account or any balances due under your Account without prior notice to you. You may not sell, assign, or transfer your Account or any of your obligations under this Agreement.
- SEVERABILITY: If any provision of this Agreement is determined to be void or unenforceable under applicable law, rule, or regulation, all other provisions of this Agreement shall be valid and enforceable.
- ENTIRE AGREEMENT: This Agreement, together with any application you signed or otherwise submitted in connection with the Account (which is hereby incorporated by reference in this Agreement), constitutes the entire agreement between you and us relating to your Account and supersedes any other prior or contemporaneous agreement between you and us relating to your Account. This Agreement may not be amended except in accordance with the provisions of this Agreement. NOTICE TO BUYER:(1) DO NOT SIGN THIS BUSINESS ACCOUNT APPLICATION/AGREEMENT BEFORE YOU READ IT OR IF ANY SPACES INTENDED FOR THE AGREED TERMS ARE LEFT BLANK.(2) YOU ARE ENTITLED TO A COMPLETELY FILLED IN COPY OF THIS AGREEMENT. KEEP THIS AGREEMENT TO PROTECT YOUR LEGAL RIGHTS.
(3) YOU MAY AT ANY TIME PAY THE TOTAL BALANCE OUTSTANDING UNDER THIS AGREEMENT.
(4) ANY PERSON SIGNING THE APPLICATION/AGREEMENT ATTESTS THAT
(1) THE BUYER IS A VALID BUSINESS ENTITY IN GOOD STANDING UNDER THE LAWS OF THE JURISDICTION OF ITS ORGANIZATION, OR A QUALIFIED RELIGIOUS, EDUCATION, OR OTHER NON-PROFIT ENTITY, OR A GOVERNMENTAL AGENCY OR INSTRUMENTALITY;
(2) PURCHASES MADE HEREUNDER WILL BE FOR OTHER THAN PERSONAL, FAMILY, OR HOUSEHOLD USE AND
(3) THE BUYER HAS AUTHORIZED (A) THE EXECUTION OF THE CREDIT APPLICATION/AGREEMENT, AND (B) THE PERSON SIGNING THE CREDIT APPLICATION/AGREEMENT TO EXECUTE THE CREDIT APPLICATION/AGREEMENT ON ITS BEHALF.
contact-us@greenlionproduce.com
