The applicant’s signature attests financial responsibility and that the information and statements in this application are true and complete, and are made for the purpose of inducing Pacific Transducer Corp. to establish an open account line of credit. Pacific Transducer Corp. is hereby authorized to obtain information it considers necessary from any source concerning the statements in this application. The applicant promises to pay for all purchases in accordance with the terms and conditions as stated below. The applicant further agrees to notify Pacific Transducer Corp. immediately if the applicant becomes insolvent or otherwise unable to meet current obligations and to pay reasonable attorney or collection fees plus interest in case of default in payments in compliance with terms. If, at any time, for any reason, the undersigned is unable to pay for purchase when due, undersigned agrees to pay and authorizes Pacific Transducer Corp. to bill my/our account service charges of 1.5% per month on the unpaid balance. All purchases are deemed made and payment is due at the principle place of business of Pacific Transducer Corp. For any transaction, the undersigned agrees to pay all charges within 30 days following the invoice date. Pacific Transducer Corp. reserves the right to withdraw credit immediately or not to extend credit to the undersigned at its sole discretion at any time. The undersigned wishes to apply for credit with Pacific Transducer Corp. in accordance with these terms and conditions, which have been read, understood and accepted.