Common use of Blocked Account Damages Clause in Contracts

Blocked Account Damages. If Customer puts a block on the Approved Account or takes any such action that would prevent Purchaser from debiting the Approved Account as permitted by this Agreement, which action will constitute Customer’s breach of the covenant set forth in Paragraph 6(vi) below, Customer agrees to pay Purchaser promptly on demand $2,500, plus the Amount Sold then outstanding on this Agreement, as liquidated damages. The parties agree that these damages are a good faith estimate of the damages caused by such a breach of the Agreement, including the increased resources required to be expended by Purchaser to respond to the breach, the increased cost of funds to Purchaser caused by the failure to receive expected funds, the risk to Purchaser’s ability to request ACH payments through the NACHA system caused by initiating rejected ACHs, and other damages and expenses caused by the breach.

Blocked Account Damages. If Customer puts a block on the Approved Account or takes any such action that would prevent Purchaser from debiting the Approved Account as permitted by this Agreement, which action will constitute Customer’s breach of the covenant set forth in Paragraph 6(vi) below, Customer agrees to pay Purchaser promptly on demand the sum of $2,500, plus the Amount Sold then outstanding on this Agreement, as liquidated damages. The parties agree that these damages are a good faith estimate of the damages caused by such a breach of the Agreement, including the increased resources required to be expended by Purchaser to respond to the breach, the increased cost of funds to Purchaser caused by the failure to receive expected funds, the risk to Purchaser’s ability to request ACH payments through the NACHA system caused by initiating rejected ACHs, and other damages and expenses caused by the breach.

Blocked Account Damages. If Customer Merchant puts a block on the Approved Account or takes any such action that would prevent Purchaser from debiting the Approved Account as permitted by this the Agreement, which action will constitute CustomerMerchant’s breach of the covenant set forth in Paragraph 6(vi5(vi) below, Customer Xxxxxxxx agrees to pay Purchaser promptly on demand $2,500, plus the Amount Sold then outstanding on this Agreement, 2,500 as liquidated damages. The parties agree that these damages are a good faith estimate of the damages caused by such a breach of the Agreement, including the increased resources required to be expended by Purchaser to respond to the breach, the increased cost of funds to Purchaser caused by the failure to receive expected funds, the risk to Purchaser’s ability to request ACH payments through the NACHA system caused by initiating rejected ACHs, and other damages and expenses caused by the breach.