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”

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”