Common use of CMT Processing ltd Clause in Contracts

CMT Processing ltd. acts as ‘Paying Agent’ service providers inside the group and does not provide services to the public or to person who is not within its group. In addition, the provision of services by CMT Processing ltd. to the group, mainly to the Principal ‘GCMT SA Pty ltd.’ are governed by relevant agreement according to which the Principal instructs and authorizes CMT Processing ltd. to obtain and acquire disbursements of funds and/or conduct transactions related to disbursement of funds for and on behalf of the Principal (hereinafter the “Payment Activities”). In consequence, CMT Processing ltd. allows the Principal to conduct its Payment Activities, including the services of internet payment processors, facilitators, and acquirers. All assets and /or funds and/or disbursements that may arise from the Payment Activities of the Principal, are collected in the bank account maintained by CMT Processing ltd. Thereafter, the company transfers and/or allocates such assets and/or funds and/or disbursements to the bank accounts maintained by the Principal.

CMT Processing ltd. acts as ‘Paying Agent’ service providers inside the group and does not provide services to the public or to person who is not within its group. In addition, the provision of services by CMT Processing ltd. to the group, mainly to the Principal principal ‘GCMT SA Pty ltd.’ are governed by relevant agreement according to which the Principal principal instructs and authorizes CMT Processing ltd. to obtain and acquire disbursements of funds and/or conduct transactions related to disbursement of funds for and on behalf of the Principal (hereinafter the “Payment Activities”). In consequence, CMT Processing ltd. allows the Principal principal to conduct its Payment Activities, including the services of internet payment processors, facilitators, and acquirers. All assets and /or funds and/or disbursements that may arise from the Payment Activities of the Principal, are collected in the bank account maintained by CMT Processing ltd. Thereafter, the company transfers and/or allocates such assets and/or funds and/or disbursements to the bank accounts maintained by the Principalprincipal.