Common use of Application; Change in Business Clause in Contracts

Application; Change in Business. Merchant represents that all information supplied by Merchant in connection with its application or other request for services is complete and accurate. In accordance with Section 326 of the USA Patriot Act, Processor is required to review and record information from the documents used in identifying new merchant customers. The preceding sentence is intended to inform Merchant of Processor’s procedures and of Processor’s responsibility under the USA Patriot Act. Merchant agrees to provide Processor with 30 days prior written notice of Merchant’s intent to change its business form or entity in any manner (e.g. a change from a limited liability company to a corporation), and/or of Merchant’s intent to sell its stock or assets to another entity.

Application; Change in Business. Merchant represents that all information supplied by Merchant in connection with its application or other request for services is complete and accurate. In accordance with Section 326 of the USA Patriot Act, Processor is required to review and record information from the documents used in identifying new merchant customers. The preceding sentence is intended to inform Merchant of Processor’s procedures and of Processor’s responsibility under the USA Patriot Act. Merchant Xxxxxxxx agrees to provide Processor with 30 days prior written notice of MerchantXxxxxxxx’s intent to change its business form or entity in any manner (e.g. a change from a limited liability company to a corporation), and/or of Merchant’s intent to sell its stock or assets to another entity.