Common use of Termination and Acceleration Clause in Contracts

Termination and Acceleration. ▇▇▇▇▇▇▇▇▇▇ Group may terminate this Agreement at any time, without notice if the cardholder is in breach of this Agreement, including without limitation, where the cardholder fails to make payments by the due date in accordance with the types of credit used, or if he becomes bankrupt, insolvent, or makes a proposal under bankruptcy legislation. If this Agreement is terminated, ▇▇▇▇▇▇▇▇▇▇ Group or its agent may, subject to the laws of the Province of residence of the cardholder, do any or all of the following: a) refuse to honour any cheques (whether made before or after such termination); b) require the entire balance of the cardholder’s indebtedness including, without limitation, credit charges to be repaid immediately, whether or not such balance is due and payable at that time; c) debit any account the cardholder may have with ▇▇▇▇▇▇▇▇▇▇ Group and apply the funds against the indebtedness and credit charges owing under this Agreement; d) request that all Visa Desjardins cards and unused cheques be returned to it; and e) take possession of all such cards and unused cheques.