Common use of Chargeback Reserve Account Clause in Contracts

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 equipment cancellation fees and any outstanding charges, losses or amounts, and Charge- backs for which Merchant has provided indemnification under this Agreement. Further, Settlor may require Merchant to deposit additional amounts based upon Merchant's processing history and/or anticipated risk of loss to Settlor into the Reserve Account. Once established, unless Bank determines otherwise at its sole discretion, the Reserve Account will remain in place for 180 days and a reasonable period thereafter during which Cardholder disputes may remain valid under applicable Card Associa- tion rules. The provisions of this Agreement relating to account debits and credits apply to the Reserve Account and survive this Agreement’s termination until Bank terminates the Reserve Account. Any balance remaining after chargeback rights have expired and all of Settlor’s other expenses, losses and damages have been paid will be disbursed to Merchant.

Chargeback Reserve Account. Notwithstanding anything to the contrary in this Agreement, Settlor may establish (without notice to Merchant) and Xxxxxxxx Merchant 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 XxxxxxxxMerchant’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 equipment cancellation fees and any outstanding charges, losses or amounts, and Charge- backs Chargebacks for which Merchant has provided indemnification under this Agreement. Further, Settlor may require Merchant to deposit additional amounts based upon Merchant's processing history and/or anticipated risk of loss to Settlor into the Reserve Account. Once established, unless Bank determines otherwise at its sole discretion, the Reserve Account will remain in place for 180 days and a reasonable period thereafter during which Cardholder disputes may remain valid under applicable Card Associa- tion Association rules. The provisions of this Agreement relating to account debits and credits apply to the Reserve Account and survive this Agreement’s termination until Bank terminates the Reserve Account. Any balance remaining after chargeback rights have expired and all of Settlor’s other expenses, losses and damages have been paid will be disbursed to Merchant.

Chargeback Reserve Account. Notwithstanding anything to the contrary in this Agreement, Settlor may establish (without notice to Merchant) and Xxxxxxxx Merchant 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 XxxxxxxxMerchant’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 equipment cancellation fees and any outstanding charges, losses or amounts, and Charge- backs for which Merchant has provided indemnification under this Agreement. Further, Settlor may require Merchant to deposit additional amounts based upon Merchant's processing history and/or anticipated risk of loss to Settlor into the Reserve Account. Once established, unless Bank determines otherwise at its sole discretion, the Reserve Account will remain in place for 180 days and a reasonable period thereafter during which Cardholder disputes may remain valid under applicable Card Associa- tion rules. The provisions of this Agreement relating to account debits and credits apply to the Reserve Account and survive this Agreement’s termination until Bank terminates the Reserve Account. Any balance remaining after chargeback rights have expired and all of Settlor’s other expenses, losses and damages have been paid will be disbursed to Merchant.

Chargeback Reserve Account. Notwithstanding anything to the contrary in this Agreement, Settlor Bank may establish (without notice to Merchant) and Xxxxxxxx Merchant 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 increasedreason. 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 engages 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 breaches this Agreement, violating violates any representation, covenant or warranty herein, or violating violates any applicable Card Association rule or applicable law; (d) Merchant’s Application application is in any way inaccurate or becomes inaccurate subsequent to SettlorBank’s approval of the Applicationapplication; (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 chargebacks exceeding a percentage 1% of the total transactions, total settlement amounts that could exceed the limits for chargeback or fraud number of transactions permitted completed by the Card Associations or as such limits as are established by Settlor Merchant in any period 30 calendar day 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 terminates this Agreement for any reasonAgreement. 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 equipment cancellation fees and any outstanding charges, losses or amounts, and Charge- backs Chargebacks for which Merchant has provided indemnification under this Agreement. Further, Settlor Bank may require Merchant to deposit additional amounts based upon Merchant's processing history and/or anticipated risk of loss to Settlor Bank into the Reserve Account. Once established, unless Bank determines otherwise at its sole discretion, the Reserve Account will remain in place for 180 days and a reasonable period thereafter during which Cardholder disputes may remain valid under applicable Card Associa- tion Association rules. The provisions of this Agreement relating to account debits and credits apply to the Reserve Account and survive this Agreement’s termination until Bank terminates the Reserve Account. Any balance remaining after chargeback rights have expired and all of SettlorBank’s other expenses, losses and damages have been paid will be disbursed to Merchant.

Chargeback Reserve Account. Notwithstanding anything to the contrary in this Agreement, Settlor Bank 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 Bank 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 equipment cancellation fees and any outstanding charges, losses or amounts, and Charge- backs for which Merchant has provided indemnification under this Agreement. Further, Settlor may require Merchant to deposit additional amounts based upon Merchant's processing history and/or anticipated risk of loss to Settlor into the Reserve Account. Once established, unless Bank determines otherwise at its sole discretion, the Reserve Account will remain in place for 180 days and a reasonable period thereafter during which Cardholder disputes may remain valid under applicable Card Associa- tion rules. The provisions of this Agreement relating to account debits and credits apply to the Reserve Account and survive this Agreement’s termination until Bank terminates the Reserve Account. Any balance remaining after chargeback rights have expired and all of Settlor’s other expenses, losses and damages have been paid will be disbursed to Merchant.

Chargeback Reserve Account. Notwithstanding anything to the contrary in this Agreement, Settlor Bank may establish (without notice to Merchant) and Xxxxxxxx Merchant 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 increasedreason. 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 engages 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 breaches this Agreement, violating violates any representation, covenant or warranty herein, or violating violates any applicable Card Association rule or applicable law; (d) Merchant’s Application application is in any way inaccurate or becomes inaccurate subsequent to SettlorBank’s approval of the Applicationapplication; (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 chargebacks exceeding a percentage 1 of the total transactions, total settlement amounts that could exceed the limits for chargeback or fraud number of transactions permitted completed by the Card Associations or as such limits as are established by Settlor Merchant in any period 30 calendar day 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 terminates this Agreement for any reasonAgreement. 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 equipment cancellation fees and any outstanding charges, losses or amounts, and Charge- backs Chargebacks for which Merchant has provided indemnification under this Agreement. Further, Settlor Bank may require Merchant to deposit additional amounts based upon Merchant's processing history and/or anticipated risk of loss to Settlor Bank into the Reserve Account. Once established, unless Bank determines otherwise at its sole discretion, the Reserve Account will remain in place for 180 days and a reasonable period thereafter during which Cardholder disputes may remain valid under applicable Card Associa- tion Association rules. The provisions of this Agreement relating to account debits and credits apply to the Reserve Account and survive this Agreement’s termination until Bank terminates the Reserve Account. Any balance remaining after chargeback rights have expired and all of SettlorBank’s other expenses, losses and damages have been paid will be disbursed to Merchant.

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 equipment cancellation fees and any outstanding charges, losses or amounts, and Charge- backs Chargebacks for which Merchant has provided indemnification under this Agreement. Further, Settlor may require Merchant to deposit additional amounts based upon Merchant's processing history and/or anticipated risk of loss to Settlor into the Reserve Account. Once established, unless Bank determines otherwise at its sole discretion, the Reserve Account will remain in place for 180 days and a reasonable period thereafter during which Cardholder disputes may remain valid under applicable Card Associa- tion Association rules. The provisions of this Agreement relating to account debits and credits apply to the Reserve Account and survive this Agreement’s termination until Bank terminates the Reserve Account. Any balance remaining after chargeback rights have expired and all of Settlor’s other expenses, losses and damages have been paid will be disbursed to Merchant.

Chargeback Reserve Account. Notwithstanding anything to the contrary in this Agreement, Settlor Bank may establish (without notice to Merchant) and Xxxxxxxx Merchant 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 Settlorthe Bank’s reasonable consideration, Settlor Bank suspects XxxxxxxxMerchant’s transaction processing history is or perhaps will create liabilities for refunds, chargeback reimbursements or Card Association fines that will be owed to Settlor Bank by Merchant and the Settlor Bank 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 Bank 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 application is in any way inaccurate or becomes inaccurate subsequent to SettlorBank’s approval of the Applicationapplication; (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 the Bank 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 equipment cancellation fees and any outstanding charges, losses or amounts, and Charge- backs Chargebacks for which Merchant has provided indemnification under this Agreement. Further, Settlor Bank may require Merchant to deposit additional amounts based upon Merchant's processing history and/or anticipated risk of loss to Settlor Bank into the Reserve Account. Once established, unless Bank determines otherwise at its sole discretion, the Reserve Account will remain in place for 180 days and a reasonable period thereafter during which Cardholder disputes may remain valid under applicable Card Associa- tion Association rules. The provisions of this Agreement relating to account debits and credits apply to the Reserve Account and survive this Agreement’s termination until Bank terminates the Reserve Account. Any balance remaining after chargeback rights have expired and all of SettlorBank’s other expenses, losses and damages have been paid will be disbursed to Merchant.