Common use of ADDITIONAL COLLATERAL SECURITY; RESERVE ACCOUNT Clause in Contracts

ADDITIONAL COLLATERAL SECURITY; RESERVE ACCOUNT. As a condition for providing Card Program services, Merchant may be required to provide additional collateral security for Merchant’s obligations hereunder, which additional collateral security shall be of a kind, and in amounts, satisfactory to Bank in Bank’s sole discretion, and which shall be in addition to all other collateral provided for in Section 14 hereof. Such additional collateral security may include, for example, (a) suspension of all of or any portion of any provisional credit(s) arising or relating to the Merchant Agreement; (b) Merchant funds or property that Bank has possession or control;

Appears in 9 contracts

Samples: Merchant Card Processing Agreement, Merchant Card Processing Agreement, Merchant Card Processing Agreement

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