263 Old Country Road | Melville, NY 11747 | 800.545.6776 OPT #2 | FAX 631.367.0513


Agreement to Sales Terms ■SECTION E: AGREEMENT TO SALE TERMS


All invoices are due on the date set forth thereon. ADI has the consent of the undersigned, acting on behalf of the Company and himself or herself to collect, use and disclose the information collected in Section C for the purpose of periodically assessing the creditworthiness of the Company and conducting a related credit investigation, which includes contacting the relevant bank and trade references, as well as obtaining periodic credit reports from the credit bureaus. ADI reserves the right to evaluate Buyer’s credit at any time and if ADI deems, in its sole discretion, that Buyer’s credit no longer supports the credit line, ADI may reduce, freeze or terminate the credit line. Buyer agrees to make all payments in a timely manner and acknowledges that all transactions between the parties shall be governed by the terms and conditions accompanying each invoice. If this account goes out of terms, notwithstanding any other rights ADI may have under law or in equity, Buyer agrees that ADI may assess, and Buyer agrees to pay late charges (not to exceed the lesser of 1.5 % per month or the maximum amount permitted by law), reasonable attorney fees, collection agency fees and other costs associated with its collection efforts. Thereafter, any amounts paid by Buyer shall be applied first, to the payment of all expenses and charges, including attorneys fees, incurred by ADI in the protection of its rights or the pursuance of its remedies; second with respect to late charges due and payable; and third, to the outstanding balance due under this account. All obligations of Buyer, if there is more than one Buyer, shall be joint and several.


■SECTION F: SECURITY INTEREST:


As continuing security for the prompt payment of all amounts now or subsequently owing by the Buyer to ADI, including, without limitation, the balance outstanding from time to time of the purchase price of products sold to Buyer by ADI, and the strict performance and observance by the Buyer of all agreements, warranties, representations, covenants and conditions of the Buyer made pursuant to this agreement or any other agreement between the Buyer and ADI from time to time (collectively, the “Obligations”), Buyer grants to ADI (i) a continuing, specific and fixed purchase money security interest in and to all products now or hereafter sold to Buyer by ADI (the “Products”) and (ii) a continuing specific and fixed security interest in and to all of the Buyer’s other property, rights and assets of every nature and kind, now owned or subsequently acquired by the Buyer and at any time and from time to time existing or in which the Buyer has or acquires an interest, including all personal property, insurance policies, annuities, financial assets, accounts, chattel paper, contracts, alarm monitoring contracts, documents of title, equipment, intangibles, inventory, investment property, together with all increases, attachments, additions, modifications and accessions to any of them and all substitutions or any replacements of any of them, and all Proceeds (as defined in the applicable Uniform Commercial Code) thereof, and any related software rights (embedded therein or otherwise) (collectively, including the Products, the “Secured Property”). Buyer shall execute, at ADI’s request, such other and further documents (including a general security agreement, UCC Financing Statements or other similar documents) as may be necessary or desirable to further evidence, perfect or amend such security interest. Buyer hereby authorizes ADI to file any such security agreement, financing statement or other document to secure and perfect its interest granted herein without Buyer’s consent. Buyer will not directly or indirectly create, incur, assume or suffer to exist any lien, encumbrance, right of distraint or any other claim (collectively, “Liens”) on or with respect to the Secured Property, except for the Lien granted hereby, which Lien will at all times constitute a valid, perfected and enforceable first priority security interest in favor of ADI. Buyer will immediately notify ADI in writing upon receipt of any notice of any Lien affecting the Secured Property and Buyer, at its own expense, will promptly pay, satisfy or otherwise take such actions as may be necessary to remove, and keep the Secured Property free and clear of, any and all such Liens. If requested by ADI at any time prior to the Obligations being satisfied in full, Buyer will obtain and deliver to ADI waivers of interest or liens, and assurances of ADI’s right to remove the Secured Property, in recordable form and satisfactory to ADI, from all persons claiming any interest in the real property on which an item of Secured Property is located, including landlord and mortgagee waivers. The Secured property shall be kept at the address stated in Section A hereof.


■SECTION G: DEFAULT AND REMEDIES: Upon any default by the Buyer in performing any Obligations, ADI may exercise any one or more of the following remedies:


(a) Cancel and terminate any open purchase orders or other similar agreements with Buyer; (b) declare the entire balance of all Obligations immediately due and payable, whereupon such sum shall become immediately due and payable by ADI; (c) demand return of, and upon such demand Buyer shall, return all Secured Property to Buyer by delivering such Secured Property to ADI at a location designated by ADI within the Continental United States or, if specified by ADI, into the custody of a carrier designated by ADI (if the Secured Property is delivered into the custody of a carrier, Buyer shall arrange for the shipping of the Secured Property and insurance in transit in accordance with ADI’s instructions and at Buyer’s sole expense); (d) Enter any premises where any Secured Property is located and take immediate possession of any or all Secured Property, without demand or notice, wherever same may be located, with or without any court order or pre-taking hearing or other process of law, and without liability; (e) Sell, lease or otherwise dispose of any or all of the Secured Property, whether or not in ADI’s possession, at public or private sale, with or without advertisement or notice to Buyer, and ADI may be the purchaser at any such sale (if any notice is required, Buyer agrees that ten (10) days notice shall be commercially reasonable); and (f) Pursue any other remedy available at law or in equity, including without limitation any and all rights and remedies under the applicable Uniform Commercial Code .


4 466 For orders, call 800-233-6261| For Systems Design Team, call 800-234-7971| GO TO ADIGLOBAL.COM/US


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