Common use of Account Monitoring Clause in Contracts

Account Monitoring. 4.1 MERCHANT acknowledges that BANK will monitor MERCHANT’S daily deposit activity. MERCHANT agrees that BANK may, upon reasonable grounds, divert the disbursement of MERCHANT’S funds from any account MERCHANT has in ANY financial institution for any reasonable period of time required to investigate suspicious or unusual deposit activity. BANK will make good faith efforts to notify MERCHANT immediately. BANK shall have no liability for any losses, either direct or indirect, which MERCHANT may attribute to any diversion of funds disbursement. Any funds diverted shall be deposited immediately into a non-interest bearing account at BANK, and not be released until such time that questionable/suspect/fraudulent transactions have been resolved to the BANK’S satisfaction. 4.2 Agents of BANK are not permitted to directly access or hold merchant funds whether from settlement or reserves.

Account Monitoring. 4.1 MERCHANT acknowledges that BANK will monitor MERCHANT’S daily deposit activity. MERCHANT agrees that BANK may, upon reasonable grounds, divert the disbursement of MERCHANT’S funds from any account MERCHANT has in ANY financial institution for any reasonable period of time required to investigate suspicious or unusual deposit activity. BANK will make good faith efforts to notify MERCHANT immediately. BANK shall have no liability for any losses, either direct or indirect, which MERCHANT may attribute to any diversion of funds disbursement. Any funds diverted shall be deposited immediately into a non-interest non‐interest bearing account at BANK, and not be released until such time that questionable/suspect/fraudulent transactions have been resolved to the BANK’S satisfaction. 4.2 Agents of BANK are not permitted to directly access or hold merchant funds whether from settlement or reserves.

Account Monitoring. 4.1 MERCHANT acknowledges that BANK will monitor MERCHANT’S daily deposit activity. MERCHANT XXXXXXXX agrees that BANK may, upon reasonable grounds, divert the disbursement of MERCHANT’S funds from any account MERCHANT has in ANY financial institution for any reasonable period of time required to investigate suspicious or unusual deposit activity. BANK will make good faith efforts to notify MERCHANT immediately. BANK shall have no liability for any losses, either direct or indirect, which MERCHANT may attribute to any diversion of funds disbursement. Any funds diverted shall be deposited immediately into a non-interest bearing account at BANK, and not be released until such time that questionable/suspect/fraudulent transactions have been resolved to the BANK’S satisfaction. 4.2 Agents of BANK are not permitted to directly access or hold merchant funds whether from settlement or reserves.

Account Monitoring. 4.1 MERCHANT acknowledges that BANK will monitor MERCHANT’S MERCHANT‟S daily deposit activity. MERCHANT agrees that BANK may, upon reasonable grounds, divert the disbursement of MERCHANT’S MERCHANT‟S funds from any account MERCHANT has in ANY financial institution for any reasonable period of time required to investigate suspicious or unusual deposit activity. BANK will make good faith efforts to notify MERCHANT immediately. BANK shall have no liability for any losses, either direct or indirect, which MERCHANT may attribute to any diversion of funds disbursement. Any funds diverted shall be deposited immediately into a non-interest bearing account at BANK, and not be released until such time that questionable/suspect/fraudulent transactions have been resolved to the BANK’S BANK‟S satisfaction. 4.2 Agents of BANK are not permitted to directly access or hold merchant funds whether from settlement or reserves.