Common use of ASSIGNMENT OF CHECKS Clause in Contracts

ASSIGNMENT OF CHECKS. By subscribing to the Conversion with Guarantee service, Merchant shall be deemed to have assigned to SPS-EFT, without recourse, all of Merchant’s right, title and interest in any and all checks, including any rights to treble or punitive damages, permitted under applicable law. Merchant shall execute and deliver endorsements, instruments, and papers and shall do whatever is necessary under the laws of any applicable jurisdictions to secure and defend SPS-EFT’s rights and shall do nothing to prejudice those rights. Merchant shall cooperate with SPS-EFT in pursuing SPS-EFT’s rights, including suing or prosecution of the customer under all applicable laws.