1. Buyer promises to pay AEG full invoice price according to the terms of the invoice.
2.Buyer promises to pay AEG for all purchases of products made by Buyer's employees and agents on behalf of Buyer.
3. 3. All purchases are due and payable in full net 10 days upon date of an invoice. Invoices not paid within 10 days of the due date will bear interest at the rate of the lesser of (i) 18.0% per annum or (ii) the maximum lawful rate of interest.
4. All payments received will be applied first to fees and costs of collection, if any, then to accrued and unpaid interest and then in reduction
of the outstanding principal balance.
5. AEG may cease extending credit to Buyer at any time and for any reason without notice to Buyer.
6. In no event will Buyer be liable or required to pay any service charge, interest, or any other charge which by law may be considered
interest greater than the maximum rate of interest permitted by law.
7. The provisions of this Agreement are severable. If a court of competent jurisdiction finds that any provision of this Agreement is
unenforceable, then the remaining provisions will remain in effect without the unenforceable parts
8. Buyer grants AEG a purchase money security interest in all products purchased from AEG. This Agreement is a security agreement under
the Uniform Commercial Code.
9. This Agreement is governed by the laws of the State of Texas. Venue for enforcement of this Agreement is in Amarillo, Potter County,
Texas.
10. If AEG commences legal proceedings against Buyer to enforce this Agreement, AEG will be entitled to receive reimbursement from Buyer of an amount equal to AEG's actual reasonable attorney's fees, attorney's disbursements, and court costs in those legal proceedings.
11.The parties may amend this Agreement only by signing a written document.
12.This Agreement contains the entire agreement between the parties.
13.Whenever the context requires, the singular includes the plural, the plural the singular, and the use of any gender includes all genders.
14.Buyer authorizes all credit reporting agencies, government agencies, banks, lending institutions, vendors, suppliers, and other entities to fully disclose to AEG Buyer's credit history, financial ability to pay, and other financial information requested by AEG, even if such information would otherwise be protected by financial privacy acts.