Credit Card Receipts. Each Company agrees, promptly upon the Agent’s request, to direct all credit card processors handling proceeds of sale of such Company’s Inventory to transfer all funds due to such Company pursuant to such arrangement directly to a Depository Account or to the Agent’s Bank Account. Promptly after the establishment of any credit card processing or depository relationship, the Companies agree to notify the Agent in writing of the establishment of such relationship and, promptly upon the Agent’s request, shall cause the credit card processor to execute and deliver to the Agent an agreement in form and substance satisfactory to the Agent, pursuant to which the credit card processor agrees to deposit all sums due to the Companies (or any of them) pursuant to such arrangement directly to a Depository Account or the Agent’s Bank Account.
Appears in 3 contracts
Samples: Financing Agreement (Under Armour, Inc.), Financing Agreement (Under Armour, Inc.), Financing Agreement (Under Armour, Inc.)