Common use of Approved Bank Account and Credit Card Processor Clause in Contracts

Approved Bank Account and Credit Card Processor. During the term of this Agreement, Seller shall: (i) deposit all Future Receipts into one (and only one) bank account which bank account shall be acceptable and preapproved by Buyer (the “Approved Bank Account”), (ii) use one (and only one) credit card processor which processor shall be acceptable and preapproved by Buyer (the “Approved Processor”) and (iii) deposit all credit card receipts into the Approved Bank Account. In the event the Approved Bank Account or Approved Processor shall become unavailable or shall cease providing services to Seller during the term of this Agreement, prior to the first date of such unavailability or cessation of services, Seller shall arrange for another Approved Bank Account or Approved Processor, as the case may be.

Appears in 7 contracts

Samples: Future Receipts Sale and Purchase Agreement (First Person Ltd.), Future Receivables Sale and Purchase Agreement (Cannabis Bioscience International Holdings, Inc.), Future Receipts Sale and Purchase Agreement (Cannabis Bioscience International Holdings, Inc.)

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Approved Bank Account and Credit Card Processor. During the term of this Agreement, Seller Merchant shall: (i) deposit all Future Receipts into one (and only one) bank account which bank account shall be acceptable and preapproved by Buyer Purchaser (the “Approved Bank Account”), (ii) use one (and only one) credit card processor which processor shall be acceptable and preapproved by Buyer Purchaser (the “Approved Credit Card Processor”) and (iii) deposit all credit card receipts into the Approved Bank Account. In the event the Approved Bank Account or Approved Credit Card Processor shall become unavailable or shall cease providing services to Seller Merchant during the term of this Agreement, prior to the first date of such unavailability or cessation of services, Seller Merchant shall arrange for another Approved Bank Account or Approved Credit Card Processor, as the case may be.

Appears in 4 contracts

Samples: Agreement of Sale of Future Receivables (1847 Holdings LLC), Agreement of Sale of Future Receivables (SHARING SERVICES GLOBAL Corp), Agreement of Sale of Future Receivables (Spectrum Global Solutions, Inc.)

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