If Buyer fails to remit the Total Purchase Price by the Payment Deadline, reverses any payment previously made, or otherwise fails to complete any transaction in accordance with this Agreement ("Buyer Default"), Boribids may exercise one or more of the following remedies:
1 reject or require a deposit for future bids or offers from the Buyer;
2 charge interest on all amounts owed from the Payment Deadline until the date received in cleared funds at the lesser of: (a) 15% per annum or (b) the maximum rate permitted by applicable law;
3 cancel the sale of the Item and/or retain any payment of the Total Purchase Price as liquidated damages;
4 resell the Item at Boribids discretion, it being understood that in the event such resale is for less than the original Item Price and Total Purchase Price for that Item, the Buyer will remain liable for the shortfall;
5 commence legal proceedings to recover the Total Purchase Price;
6 charge a cancellation fee equal to the fees or commission Boribids would have received on such Item or 15% of the Item Price, whichever is greater;
7 set off any outstanding amounts owed by the Buyer against any amounts which we may owe the Buyer;
8 release the Buyer’s User Information to the Seller to enable the Seller to commence legal proceedings to recover the amounts due;
9 charge the Buyer for any outstanding portion of such Total Purchase Price and any additional owed amounts using any Buyer Payment Method, whether or not the Buyer provided such payment method in connection with the transaction at issue; and/or
10 take such other action as we deem necessary or appropriate.

The defaulting Buyer will remain liable for the Total Purchase Price and is liable to us and the Seller for any and all additional costs, expenses (including reasonable attorneys’ fees), interest and damages of whatever kind incurred in connection with such Buyer Default, the collection of any amounts due from the defaulting Buyer, and/or (if applicable) the return and resale of the Item at issue. Buyer agrees to these remedies without prejudice to any rights the Seller may have, or any other rights or remedies Boribids may have at law or equity. No Obligation. Any statement in this Agreement or elsewhere notwithstanding (whether written, oral or implied), we have no obligation to enforce any payment from any Buyer or to take any legal action or other action against any Buyer that fails to make any payment under any circumstances. Security Interest. As security to us for full payment by the Buyer of all outstanding amounts due to Boribids and our affiliates, Boribids retains, and the Buyer grants to us, a security interest in each Item purchased by the Buyer and in any other property or money of the Buyer in, or coming into, our possession. We may apply such money or deal with such property as the Uniform Commercial Code or other applicable law permits a secured creditor to do. We will notify the buyer if we exercise a lien over property in our possession because the Buyer is in default. Our security interest in any individual Item will terminate upon actual delivery of the Item to the Buyer or the Buyer’s agent. In the event the Buyer is in default of payment to any of our affiliates, the Buyer also irrevocably authorizes Boribids to pledge the Buyer’s property in our possession by actual or constructive delivery to our affiliates as security for the payment of any outstanding amount due. Boribids will notify the Buyer if the Buyer’s property has been delivered to an affiliate by way of pledge.