Common use of Automatic Payment Clause in Contracts

Automatic Payment. Merchant, by signing Authorization to Permit Canmor Inc. to Debit/Credit Merchant Account in 7 above authorizes Canmor to electronically debit Merchants bank account with any fees owing to Canmor and credit Merchant's bank account with Merchant's portion of surcharge fees collected. Credits and debits applied to Merchant's bank account will be identified as “Canmor.” Merchant agrees to notify Canmor within five (5) days of changing merchant's bank account or banking relationship.

Automatic Payment. Merchant, by signing Authorization to Permit Canmor Inc. to Debit/Credit Merchant Account in 7 above authorizes Canmor to electronically debit Merchants bank account with any fees owing to Canmor and credit MerchantXxxxxxxx's bank account with MerchantXxxxxxxx's portion of surcharge fees collected. Credits and debits applied to MerchantXxxxxxxx's bank account will be identified as “Canmor.” Merchant Xxxxxxxx agrees to notify Canmor within five (5) days of changing merchant's bank account or banking relationship.