Common use of Blocked Account Damages Clause in Contracts

Blocked Account Damages. If 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 the Agreement, which action will constitute Merchant’s breach of the covenant set forth in Paragraph 4(vii) below, Xxxxxxxx agrees to pay Purchaser promptly on demand (i) $2,500 or (ii) 25% of the uncollected NYSCEF DOC. NO. 3 RECEIVED NYSCEF: 07/19/2021 portion of the Amount Sold (calculated as of the date Purchaser’s access was revoked), whichever is greater, as liquidated damages.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 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 the Agreement, which action will constitute Merchant’s breach of the covenant set forth in Paragraph 4(vii) below, Xxxxxxxx agrees to pay Purchaser promptly on demand (i) $2,500 or (ii) 25% of the uncollected NYSCEF DOC. NO. 3 11 RECEIVED NYSCEF: 07/19/2021 07/26/2021 portion of the Amount Sold (calculated as of the date Purchaser’s access was revoked), whichever is greater, as liquidated damages.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 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 the Agreement, which action will constitute Merchant’s breach of the covenant set forth in Paragraph 4(vii) below, Xxxxxxxx agrees to pay Purchaser promptly on demand (i) $2,500 or (ii) 25% of the uncollected NYSCEF DOC. NO. 3 RECEIVED NYSCEF: 07/19/2021 01/25/2021 portion of the Amount Sold (calculated as of the date Purchaser’s access was revoked), whichever is greater, 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 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 the Agreement, which action will constitute Merchant’s breach of the covenant set forth in Paragraph 4(vii) below, Xxxxxxxx agrees to pay Purchaser promptly on demand (i) $2,500 or (ii) 25% of the uncollected NYSCEF DOC. NO. 3 RECEIVED NYSCEF: 07/19/2021 02/02/2021 portion of the Amount Sold (calculated as of the date Purchaser’s access was revoked), whichever is greater, 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 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 the Agreement, which action will constitute Merchant’s breach of the covenant set forth in Paragraph 4(vii) below, Xxxxxxxx agrees to pay Purchaser promptly on demand (i) $2,500 or (ii) 25% of the uncollected NYSCEF DOC. NO. 3 RECEIVED NYSCEF: 07/19/2021 10/23/2020 portion of the Amount Sold (calculated as of the date Purchaser’s access was revoked), whichever is greater, 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.