Common use of Credit Card Receipts Clause in Contracts

Credit Card Receipts. (a) Annexed hereto as EXHIBIT 7-2, is a Schedule which describes all arrangements to which the Borrower is a party with respect to the payment to the Borrower of the proceeds of credit card charges for sales by the Borrower. (b) To the extent not previously delivered, the Borrower shall deliver to the Agent, as a condition to the effectiveness of this Agreement, notification, executed on behalf of the Borrower, to each of the Borrower’s credit card clearinghouses and processors of notice (in form reasonably satisfactory to the Agent), which notice provides that payment of all credit card charges submitted by the Borrower to that clearinghouse or other processor and any other amount payable to the Borrower by such clearinghouse or other processor shall be directed to the Blocked Account (or if the Borrower prefers to so specify in such notice, to the Concentration Account). The Borrower shall not change such direction or designation except upon and with the prior written consent of the Agent.

Credit Card Receipts. (a) Annexed hereto as EXHIBIT 7-27.2, is a Schedule which describes all arrangements to which the Borrower is a party Credit Card Agreements with respect to the payment to the Borrower of the proceeds of credit card charges for sales by the BorrowerCredit Card Issuers and Credit Card Processors. (b) To the extent not previously delivered, the The Borrower shall (i) deliver to the Agent, as a condition to the effectiveness of this Agreement, notification, executed on behalf of the Borrower, to each of the Borrower’s credit card clearinghouses and processors Credit Card Processors of notice (in form reasonably satisfactory to the Agent), which notice provides that that, following the occurrence of a Cash Management Event, payment of all credit card charges submitted by the Borrower to that clearinghouse or other processor and any other amount payable to the Borrower by such clearinghouse or other processor shall be directed to the Blocked Concentration Account or as otherwise designated from time to time by the Agent and (or if ii) shall cause each such Credit Card Processor to enter into Credit Card Acknowledgments. Following the Borrower prefers to so specify in such noticeoccurrence of a Cash Management Event, to the Concentration Account). The Borrower shall not change such direction or designation except upon and with the prior written consent of the Agent.

Credit Card Receipts. (a) Annexed hereto as EXHIBIT 7-2, is a Schedule which describes all arrangements arrangements, as of the date of this Agreement, to which the Borrower is a party with respect to the payment to the Borrower of the proceeds of all credit card charges for sales by the Borrower. (b) To the extent not previously delivered, the The Borrower shall deliver to the Agent, as a condition to the effectiveness of this the within Agreement, notification, executed on behalf of the Borrower, to each of the Borrower’s 's credit card clearinghouses and processors of notice (in form reasonably satisfactory to the Agent), which notice provides that payment of all credit card charges submitted by the Borrower to that clearinghouse or other processor and any other amount payable to the Borrower by such clearinghouse or other processor shall be directed to the a Blocked Account (or if to such other account as may be designated by the Borrower prefers to so specify Agent in such notice, to the Concentration Account). The Borrower shall not change such direction or designation except upon and with the prior written consent of the Agent.

Credit Card Receipts. (a) Annexed hereto as EXHIBIT 7-2, is a Schedule which describes all arrangements to which the Borrower is a party with respect to the payment to the Borrower of the proceeds of credit card charges for sales by the Borrower. (b) To the extent not previously delivered, the The Borrower shall deliver to the Agent, as a condition to the effectiveness of this Agreement, notification, executed on behalf of the Borrower, to each of the Borrower’s 's credit card clearinghouses and processors of notice (in form reasonably satisfactory to the Agent), which notice provides that payment of all credit card charges submitted by the Borrower to that clearinghouse or other processor and any other amount payable to the Borrower by such clearinghouse or other processor shall be directed to the Blocked Account (or if the Borrower prefers to so specify in such notice, to the Concentration Account). The Borrower shall not change such direction or designation except upon and with the prior written consent of the Agent.