Adjustment of Weekly Delivery Amount. a. If a Reconciliation is performed that results in a refund to the Merchant of at least 20% of the aggregate Weekly Delivery Amounts received by Purchaser during the applicable Reconciliation Month, Merchant shall have the option to request, subject to the requirements of Section 13 below, modification (“Adjustment”) of the Weekly Delivery Amount on a going-forward basis. Purchaser in its sole and absolute discretion may allow a temporary Adjustment upon Merchant’s proof of circumstances warranting such Adjustment, such as a natural disaster requiring temporary closure of Merchant’s business. After an Adjustment is granted, the adjusted Weekly Delivery Amount shall replace and supersede the amount of the Weekly Delivery Amount set forth in the preamble of this Agreement and future weekly deliveries shall be made in the adjusted amount. All Adjustments made in accordance with this section or other sections of this Agreement, shall be effective for one-month, after which time, the Merchant must provide Purchaser with its bank statements each month to allow Purchaser to re-evaluate the Merchant’s information to determine whether a continued Adjustment is warranted. b. The Adjustment of the Weekly Delivery Amount shall be performed by Purchaser within five (5) Business Days following its receipt of the Merchant’s request for Adjustment.
Appears in 11 contracts
Samples: Agreement of Sale of Future Receipts (Sky Quarry Inc.), Agreement of Sale of Future Receipts (Sky Quarry Inc.), Agreement of Sale of Future Receivables (Sky Quarry Inc.)
Adjustment of Weekly Delivery Amount. a. If a Reconciliation is performed that results in a refund to the Merchant of at least 20% of the aggregate Weekly Delivery Amounts received by Purchaser during the applicable Reconciliation Month, Merchant shall have the option to request, subject to the requirements of Section 13 below, modification (“Adjustment”) of the Weekly Delivery Amount on a going-forward basis. Purchaser in its sole and absolute discretion may allow a temporary Adjustment upon Merchant’s Mxxxxxxx's proof of circumstances warranting such Adjustment, such as a natural disaster requiring temporary closure of Merchant’s 's business. After an Adjustment is granted, the adjusted Weekly Delivery Amount shall replace and supersede the amount of the Weekly Delivery Amount set forth in the preamble of this Agreement and future weekly deliveries shall be made in the adjusted amount. All Adjustments made in accordance with this section or other sections of this Agreement, shall be effective for one-month, after which time, the Merchant must provide Purchaser with its bank statements each month to allow Purchaser to re-evaluate the Merchant’s 's information to determine whether a continued Adjustment is warranted.
b. The Adjustment of the Weekly Delivery Amount shall be performed by Purchaser within five (5) Business Days following its receipt of the Merchant’s 's request for Adjustment.
Appears in 2 contracts
Samples: Agreement of Sale of Future Receivables (Sky Quarry Inc.), Agreement of Sale of Future Receivables (Sky Quarry Inc.)
Adjustment of Weekly Delivery Amount. a. If a Reconciliation is performed that results in a refund to the Merchant of at least 20% of the aggregate Weekly Delivery Amounts received by Purchaser during the applicable Reconciliation Month, Merchant shall have the option to request, subject to the requirements of Section 13 below, modification (“"Adjustment”") of the Weekly Delivery Amount on a going-forward basis. Purchaser in its sole and absolute discretion may allow a temporary Adjustment upon Merchant’s Mxxxxxxx's proof of circumstances warranting such Adjustment, such as a natural disaster requiring temporary closure of Merchant’s 's business. After an Adjustment is granted, the adjusted Weekly Delivery Amount shall replace and supersede the amount of the Weekly Delivery Amount set forth in the preamble of this Agreement and future weekly deliveries shall be made in the adjusted amount. All Adjustments made in accordance with this section or other sections of this Agreement, shall be effective for one-month, after which time, the Merchant must provide Purchaser with its bank statements each month to allow Purchaser to re-evaluate the Merchant’s 's information to determine whether a continued Adjustment is warranted.
b. The Adjustment of the Weekly Delivery Amount shall be performed by Purchaser within five (5) Business Days following its receipt of the Merchant’s 's request for Adjustment.
Appears in 2 contracts
Samples: Agreement of Sale of Future Receipts (Marpai, Inc.), Agreement of Sale of Future Receipts (Sky Quarry Inc.)
Adjustment of Weekly Delivery Amount. a. If a Reconciliation is performed that results in a refund to the Merchant of at least 204.33% of the aggregate Weekly Delivery Amounts received by Purchaser during the applicable Reconciliation Month, Merchant shall have the option to request, subject to the requirements of Section 13 below, modification (“"Adjustment”") of the Weekly Delivery Amount on a going-forward basis. Purchaser in its sole and absolute discretion may allow a temporary Adjustment upon Merchant’s Xxxxxxxx's proof of circumstances warranting such Adjustment, such as a natural disaster requiring temporary closure of Merchant’s 's business. After an Adjustment is granted, the adjusted Weekly Delivery Amount shall replace and supersede the amount of the Weekly Delivery Amount set forth in the preamble of this Agreement and future weekly deliveries shall be made in the adjusted amount. All Adjustments made in accordance with this section or other sections of this Agreement, shall be effective for one-month, after which time, the Merchant must provide Purchaser with its bank statements each month to allow Purchaser to re-evaluate the Merchant’s 's information to determine whether a continued Adjustment is warranted.
b. The Adjustment of the Weekly Delivery Amount shall be performed by Purchaser within five (5) Business Days following its receipt of the Merchant’s 's request for Adjustment.
Appears in 1 contract
Samples: Agreement of Sale of Future Receipts (Enservco Corp)