Chargebacks and Penalties. 5.1 Merchant understands and acknowledges that during the term of the Agreement and after its termination for any reason whatsoever, Merchant shall be and remain responsible for all Chargebacks, Penalties, Adjustments and all other amounts then due or which thereafter may become due resulting in any way from Transactions processed pursuant to the Agreement. Merchant will pay Credorax on demand the value of all Chargebacks, Penalties and Adjustments. 5.2 Credorax shall report to Merchant all Chargebacks, Penalties and Adjustments (including those imposed by the Card Schemes) on a periodic basis.
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Samples: Operational Terms and Conditions, Operational Terms and Conditions, Operational Terms and Conditions
