Common use of Adjustment of Daily Amount Clause in Contracts

Adjustment of Daily Amount. Customer is responsible for ensuring that the Daily Amount continues to result in Purchaser receiving an amount of Future Receipts each month that is approximately equal to the Monthly Percentage of Customer’s Future Receipts. If Customer believes that its actual Future Receipts have increased or decreased such that Purchaser will be receiving an amount of Future Receipts each month that varies from the Monthly Percentage of Customer’s Future Receipts, then Customer shall request an adjustment of the Daily Amount (“Adjusted Daily Amount”) and send to the Designated Email (reconciliation@forwardfinancing. com) full copies of monthly bank statements from all bank accounts, and any other statements evidencing customer receipts, for the prior three months. If requested, Customer must also permit Purchaser to conduct a site inspection of Customer’s business, including an inspection of Customer’s credit card terminals. Provided that the information provided by the Customer supports the requested Adjusted Daily Amount, Purchaser shall make the adjustment for a period of 14 days. Thereafter, the Daily Amount will revert back to the amount stated under the “KEY TERMS” section of this Agreement unless Customer provides the same information on a monthly basis and the information demonstrates that a continued adjustment is warranted.