PAYMENT TERMS

Payment: The Applicant submits this credit application to Wholesale Electric Supply Co. Of Houston, Inc., hereafter referred to as Wholesale. If credit is granted, Applicant agrees to pay all of its obligations to Wholesale, as and when due. Applicant agrees to pay all invoices within the terms stated on each invoice and affirms that the terms of all present and future invoices from Wholesale are incorporated herein by reference. Payments not made by Applicant within terms will incur a late charge after the due date equal to the lesser of 1.5% monthly (18% per annum) or the maximum rate allowed by law. Should collection action or litigation ever become necessary to collect delinquent sums due to Wholesale, Applicant further agrees to pay Wholesale its reasonable collection costs and attorney’s fees. Applicant agrees to pay a returned check fee of $30.00 for checks or other payments returned from Wholesale’s bank for any reason.

Governing Law; Forum: We agree that this Agreement shall be governed by the laws of the State of Texas, and that jurisdiction and venue shall be in Harris County, Texas, or the United States District Court in which Wholesale resides, or the jurisdiction in which Applicant resides, at the sole discretion of Wholesale.

Change in Credit Terms: Wholesale reserves the right to increase, decrease, or terminate any credit availability at any time in Wholesale’s sole discretion.

Credit History: Applicant authorizes all of its creditors and references, including, but not limited to, those listed in this Application, to release to Wholesale whatever information may be contained in their files pertaining to personal and financial dealings with Applicant, and grants Wholesale permission to complete any credit investigation of Applicant, including, but not limited to, reports by a reporting agency.

The person signing below certifies that such person possesses the authority to 1) apply for credit with Wholesale on behalf of Applicant, 2) authorize any credit investigation Wholesale may deem necessary, and 3) to fully bind Applicant to these terms and conditions. Applicant agrees to observe Wholesale’s standard terms and conditions set forth on Wholesale’s website from time to time in effect, notwithstanding any different or additional terms stated in our purchase order. We represent that we are financially capable of paying invoices as they are due.

Notice: The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to enter into a binding contract), because all or part of the applicant’s income derives from any public assistance program, or because the applicant has, in good faith, exercised any right under the Consumer Credit Protection Act. The Federal agency that administers compliance with the law concerning this credit is the Federal Trade Commission, Division of Credit Practices, 6th and Pennsylvania Ave., NW, Washington, DC 20580.