Chargeback Reserve Account. Notwithstanding anything to the contrary in this Agreement, Settlor may establish (without notice to Merchant) and Xxxxxxxx agrees to fund a non-interest bearing chargeback reserve account (the “Reserve Account”), or demand other security or raise any discount, transaction or other fees. This account may be established at any time or for any reason if, in Settlor’s reasonable consideration, Settlor suspects Xxxxxxxx’s transaction processing history is or perhaps will create liabilities for refunds, chargeback reimbursements or Card Association fines that will be owed to Settlor by Merchant and the Settlor determines, in its sole but reasonable consideration, such obligations may not be collectible from Merchant in a timely manner without such Reserve Account being established or the amounts within the Reserve Account increased. Specific examples of conditions that might prompt the Settlor to establish or increase the balances in a Chargeback Reserve Account might include, but will not be limited to: (a) Merchant engaging in any charge processing that creates an overcharge to a Cardholder by duplicating charges; (b) Merchant engaging in any activity designed by Merchant to circumvent a “call center” message when attempting to process a transaction; (c) Merchant breaching this Agreement, violating any representation, covenant or warranty herein, or violating any applicable Card Association rule or applicable law; (d) Merchant’s Application is in any way inaccurate or becomes inaccurate subsequent to Settlor’s approval of the Application; (e) Merchant changes its type of business without Bank’s prior written approval; (f) fraud, Merchant processes an unauthorized charge, or other action that violates Bank’s applicable risk management standards or is likely to cause a loss; (g) Merchant has Chargebacks exceeding a percentage of total transactions, total settlement amounts that could exceed the limits for chargeback or fraud transactions permitted by the Card Associations or as such limits as are established by Settlor in any period (h) creating an excessive numbers of requests from consumers or card issuing banks to retrieve documentation; (i) Merchant’s financial stability is in question or Merchant ceases doing business; or (j) Merchant terminating this Agreement for any reason. Once the Reserve Account is established, collected funds will be placed in the Reserve Account. Before releasing funds after this Agreement is terminated, Merchant will pay any equip...
Chargeback Reserve Account. Notwithstanding anything to the contrary in this Agreement, Settlor may establish (without notice to Merchant) and Xxxxxxxx agrees to fund a non-interest bearing chargeback reserve account (the “Reserve Account”), or demand other security or raise any discount, transaction or other fees. This account may be established at any time or for any reason if, in Settlor’s reasonable consideration, Settlor suspects Xxxxxxxx’s transaction processing history is or perhaps will create liabilities for refunds, chargeback reimbursements or Card Association fines that will be owed to Settlor by Merchant and the Settlor determines, in its sole but reasonable consideration, such obligations may not be collectible from Merchant in a timely manner without such Reserve Account being established or the amounts within the Reserve Account increased. Specific examples of conditions that might prompt the Settlor to establish or increase the balances in a Chargeback Reserve Account might include, but will not be limited to: (a) Merchant engaging in any charge processing that creates an overcharge to a Cardholder by duplicating charges; (b) Merchant engaging in any activity designed by Merchant to circumvent a “call center”
Chargeback Reserve Account. Notwithstanding any other language to the contrary in this Agreement, Processor reserves the right to establish (without notice to Customer) and Customer agrees to fund a non‐ interest bearing RCK Chargeback Reserve Account, or to demand other security and/or to raise any transaction fee hereunder, upon Processor‟s reasonable determination of the occurrence of the following:
Chargeback Reserve Account. Notwithstanding any other language to the contrary in this Agreement, VCI reserves the right to establish (without notice to CUSTOMER) and CUSTOMER agrees to fund a non-interest bearing RCK Chargeback Reserve Account, or to demand other security and/or to raise any transaction fee hereunder, upon VCI’s reasonable determination of the occurrence of the following:
