Common use of Chargeback Rights; Erroneous Entries Clause in Contracts

Chargeback Rights; Erroneous Entries. Merchant hereby authorizes Xxxxxxxxx.Xxx to either initiate transaction entries to Merchant’s depository account number or to charge Merchant’s credit card, both of which are listed in Merchant’s xXxxxx.Xxx Application (and as those numbers may be changed, any new account numbers provided to Xxxxxxxxx.Xxx) without additional authorization or consent for any balance due Xxxxxxxxx.Xxx, including amounts due associated with Chargeback(s). In the event that Xxxxxxxxx.Xxx is unable to collect monies owed from Merchant by these methods, Merchant authorizes Xxxxxxxxx.Xxx to instruct the Merchant’s bank to return any monies originally transferred by Xxxxxxxxx.Xxx to Merchant, until the balance of Merchant’s ACH account with Xxxxxxxxx.Xxx is brought current with a zero balance. If Xxxxxxxxx.Xxx reasonably believes that a Chargeback or refund is likely with respect to any xXxxxx.Xxx Transaction submitted by Merchant to Xxxxxxxxx.Xxx, Xxxxxxxxx.Xxx may withhold from payments otherwise due to Merchant under this Agreement until such time that: (a) Xxxxxxxxx.Xxx is charged back by Purchaser’s bank, in which case Xxxxxxxxx.Xxx shall retain the funds; (b) the period of time under applicable law or regulation by which the Purchaser may dispute the ACH charge and the Purchaser’s bank may exercise its chargeback rights has expired (generally 60 days from the date the financial institution first made available to the Purchaser its bank statement with the applicable charge transaction listed on it); and/or (c) Xxxxxxxxx.Xxx determines that a Chargeback on the ACH charge requested by Merchant will not occur. Merchant further grants Xxxxxxxxx.Xxx permission to initiate adjustment entries to Merchant’s checking account or to charge Merchant’s credit card in the event of erroneous transactions being posted to said account.

Chargeback Rights; Erroneous Entries. Merchant hereby authorizes Xxxxxxxxx.Xxx to either initiate transaction entries to MerchantXxxxxxxx’s depository account number or to charge MerchantXxxxxxxx’s credit card, both of which are listed in Merchant’s xXxxxx.Xxx Application (and as those numbers may be changed, any new account numbers provided to Xxxxxxxxx.Xxx) without additional authorization or consent for any balance due Xxxxxxxxx.Xxx, including amounts due associated with Chargeback(s). In the event that Xxxxxxxxx.Xxx is unable to collect monies owed from Merchant by these methods, Merchant authorizes Xxxxxxxxx.Xxx to instruct the Merchant’s bank to return any monies originally transferred by Xxxxxxxxx.Xxx to Merchant, until the balance of Merchant’s ACH account with Xxxxxxxxx.Xxx is brought current with a zero balance. If Xxxxxxxxx.Xxx reasonably believes that a Chargeback or refund is likely with respect to any xXxxxx.Xxx Transaction submitted by Merchant to Xxxxxxxxx.Xxx, Xxxxxxxxx.Xxx may withhold from payments otherwise due to Merchant under this Agreement until such time that: (a) Xxxxxxxxx.Xxx is charged back by Purchaser’s bank, in which case Xxxxxxxxx.Xxx shall retain the funds; (b) the period of time under applicable law or regulation by which the Purchaser may dispute the ACH charge and the Purchaser’s bank may exercise its chargeback rights has expired (generally 60 days from the date the financial institution first made available to the Purchaser its bank statement with the applicable charge transaction listed on it); and/or (c) Xxxxxxxxx.Xxx determines that a Chargeback on the ACH charge requested by Merchant will not occur. Merchant further grants Xxxxxxxxx.Xxx permission to initiate adjustment entries to MerchantXxxxxxxx’s checking account or to charge MerchantXxxxxxxx’s credit card in the event of erroneous transactions being posted to said account.