Common use of Credit Card Processing Agreements Clause in Contracts

Credit Card Processing Agreements. Within 90 days after the Closing Date, letter agreements, in form and substance satisfactory to the Required Holders, duly executed by the counterparties to credit card processing agreements to which the Issuer or any Senior Guarantor is a party that account for at least 90% of the credit card processing revenue of the Issuer and the Senior Guarantors, together with a certificate signed by an Authorized Officer of the Issuer and the Senior Guarantors certifying that the schedule of credit processing agreements attached to such certificate account for at least 90% of the credit card processing revenue of the Issuer and the Senior Guarantors; provided, however, if a counterparty refuses to execute such letter agreement, the Issuer or the applicable Senior Guarantor shall terminate the applicable processing agreement and if the Issuer or such Senior Guarantor enters into a new processing agreement, it shall deliver a letter agreement, in form and substance satisfactory to the Holders, duly executed by such counterparty within 150 days after the Closing Date. Notwithstanding anything to the contrary set forth in this Agreement, letter agreements, in form and substance satisfactory to the Required Holders, duly executed by the counterparties to credit card processing agreements entered into by Friendfinder Processing Ltd. or Streamray, Inc. (St. Kitts)) or otherwise relating to Federation of St. Kitts and Nevis shall be required to be delivered within 90 days after the Closing Date without regard to any extension of such time period.

Credit Card Processing Agreements. Within 90 days after the Closing Date, letter agreements, in form and substance satisfactory to the Required Holders, duly executed by the counterparties to credit card processing agreements to which the Issuer or any Senior Guarantor is a party that account for at least 90% of the credit card processing revenue of the Issuer and the Senior Guarantors, together with a certificate signed by an Authorized Officer of the Issuer and the Senior Guarantors certifying that the schedule of credit processing agreements attached to such certificate account for at least 90% of the credit card processing revenue of the Issuer and the Senior Guarantors; provided, however, if a counterparty refuses to execute such letter agreement, the Issuer or the applicable Senior Guarantor shall terminate the applicable processing agreement and if the Issuer or such Senior Guarantor enters into a new processing agreement, it shall deliver a letter agreement, in form and substance satisfactory to the Required Holders, duly executed by such counterparty within 150 days after the Closing Date. Notwithstanding anything to the contrary set forth in this Agreement, letter agreements, in form and substance satisfactory to the Required Holders, duly executed by the counterparties to credit card processing agreements entered into by Friendfinder Processing Ltd. or Streamray, Inc. (St. Kitts)) or otherwise relating to Federation of St. Kitts and Nevis shall be required to be delivered within 90 days after the Closing Date without regard to any extension of such time period.