Common use of Credit Transaction Clause in Contracts

Credit Transaction. (a) Dealer/Contractor will receive the net amount owed to Dealer/Contractor from Bank for each credit transaction involving an account issued under the Program (an “Account”) by Automated Clearing House (“ACH”) direct deposit. The various promotional plans available to those individuals who open accounts under this Agreement (“Accountholders”) and the pricing related thereto is set forth in Schedule A attached hereto. Bank may amend the promotional plan schedule from time to time in Bank’s sole discretion, as set forth therein. Dealer/Contractor may not add or assess any portion of administrative fees, or any other agreement of additional fees or consideration, to an Accountholder who chooses to use an Account as tender for Goods and/or Services. The Program is a non-recourse program for Dealer/Contractor, meaning that, subject to Bank’s chargeback rights set forth herein, Bank will not seek repayment from Dealer/Contractor if the Accountholder fails to repay the credit extended to him/her by Bank. However, if the Goods and/or Services are not properly charged to an Accountholder’s Account, the Goods and/or Services are not performed in full or in part, or the Accountholder is given a refund for the Goods and/or Services after Bank has paid Dealer/Contractor, then upon the request of Bank or the Accountholder, Dealer/Contractor will return the amount of such Bank payment to Bank within ten (10) Business Days. In such instances, the amount to be refunded to Accountholder will be returned to Bank as a credit to the Accountholder’s Account. (b) Each day (not just Business Days), Dealer/Contractor shall electronically transmit all Transaction Records evidencing transactions made under the Program to Bank via the Bank Portal on the same day in a format acceptable to Bank. Dealer/Contractor shall be responsible for properly designating, on the Transaction Records, the Dealer/Contractor location from which individual transactions originate. Subject to Section 2(c) below, Bank shall use commercially reasonable efforts to promptly verify and process such Transaction Records and, within three (3) Business Days thereafter, Bank will remit to Dealer/Contractor an amount equal to the net amount indicated by such Transaction Records for which such remittance is made. Bank will transfer funds via ACH to the Dealer/Contractor Deposit Account indicated in the Registration Agreement. For Transaction Records received by Bank’s processing center before 9 AM Eastern time on a Business Day, such ACH transfer will have an effective date of that Business Day, plus one (1) Business Day thereafter. For Transaction Records received by Bank’s processing center either (i) after 9 AM Eastern time on a Business Day, or (ii) on a non-Business Day, such ACH transfer will have an effective date of that day, plus two (2) Business Days thereafter. (c) Notwithstanding anything to the contrary herein, Bank shall have no obligation to make payment to Dealer/Contractor with respect to sales under the Program until (i) the period pursuant to which the Accountholder has the right or ability to cancel the applicable Purchase has expired (whether pursuant to contract or any law, rule, or regulation), and (ii) Bank has received a certificate of satisfaction in a agreement approved by Bank from such Accountholder stating that the Goods and/or Services have been installed, as applicable, and the Accountholder is satisfied with the Goods and/or Services. The agreement attached hereto as Schedule B is a representative agreement of an Accountholder Satisfaction Certificate, which generally reflects the type of disclosures Bank requires it to contain and the type of information Bank requires to collect. Unless and until Bank notifies Dealer/Contractor that it must use a different agreement, Dealer/Contractor will use the attached sample. (d) All Transaction Records are subject to review and acceptance by Bank. In the event of a computational or similar error of an accounting or record keeping nature with respect to such Transaction Records, Bank may credit to Dealer/Contractor’s Deposit Account or net against the Net Proceeds (as the case may be) the proper amount as corrected. Upon any such correction, Bank shall give Dealer/Contractor prompt notice of same, including details of the discrepancy and correction. Dealer/Contractor shall be responsible for ensuring that all Promotional Program Purchases are properly designated as such on the Transaction Record in accordance with Bank’s instructions. (e) Dealer/Contractor agrees that neither it nor anyone authorized to act on its behalf shall: (a) extract or attempt to extract any special agreement, condition or security from an Accountholder in connection with their use of an account issued under the Program, unless notified in a prior writing by Bank that such action has been approved; (b) perform its services in anything other than a professional and ethical manner, and in compliance with all applicable laws, rules and regulations, including any requirements of any governmental authorities or other sanctioning bodies having jurisdiction over Dealer/Contractor; or (c) take any action to contradict or conflict with Bank’s communications with Accountholders regarding the Accounts or other features of the Program, including offerings of Goods and/or Services unrelated to those of Dealer/Contractor.

Credit Transaction. (a) Dealer/Contractor Jeweler will receive the net amount owed to Dealer/Contractor Jeweler from Bank for each credit transaction involving an account issued under the Program (an “Account”) by Automated Clearing House (“ACH”) direct deposit. The various Bank may amend, re-price and re-distribute the promotional plans available to those individuals who open accounts under this Agreement (“Accountholders”) and the pricing related thereto is set forth in on Schedule A attached hereto. Bank may amend the promotional plan schedule 1 from time to time in Bank’s sole discretion, discretion as set forth therein. Dealer/Contractor Jeweler may not add or assess any portion of administrative fees, or any other agreement form of additional fees or consideration, to an Accountholder a Customer who chooses to use an Account as tender for the Goods and/or ServicesServices provided (each such Customer referred to as an “Accountholder”). The Program is a non-recourse program for Dealer/ContractorJeweler, meaning that, subject to Bank’s chargeback rights set forth herein, Bank will not seek repayment from Dealer/Contractor Jeweler if the Accountholder Customer fails to repay the credit extended to him/her by Bank. However, if the Goods and/or Services are not properly charged to an Accountholdera Customer’s Account, the Goods and/or Services are not performed in full or in part, or the Accountholder Customer is given a refund for the Goods and/or Services after Bank has paid Dealer/ContractorJeweler, then upon the request of Bank or the AccountholderCustomer, Dealer/Contractor Jeweler will return the amount of such Bank payment to Bank within ten three (103) Business Daysbusiness days. In such instances, the amount to be refunded to Accountholder Customer will be returned to Bank as a credit to the AccountholderCustomer’s Account. (b) Each day (not just Business Days), Dealer/Contractor business days) Jeweler shall electronically transmit all Transaction Records evidencing transactions made under the IDD Program to Bank via the Bank Portal on the same day in a format acceptable to Bank. Dealer/Contractor shall be responsible for properly designating, on the Transaction Records, the Dealer/Contractor location from which individual transactions originate. Subject to Section 2(c) belowUpon receipt, Bank shall use commercially reasonable efforts to promptly verify and process such Transaction Records and, within three (3) Business Days thereafter, and Bank will remit to Dealer/Contractor Jeweler an amount equal to the net amount indicated by such Transaction Records for which such remittance is made. Bank will transfer funds via ACH to the Dealer/Contractor Jeweler Deposit Account indicated in the Registration AgreementForm. For Transaction Records received by Bank’s processing center before 9 AM Eastern time on a Business Day, such ACH transfer will have an effective date of that Business Day, plus one (1) Business Day thereafter. For Transaction Records received by Bank’s processing center either (i) after 9 AM Eastern time on a Business Day, or (ii) on a non-Business Day, such ACH transfer will have an effective date of that dayBusiness Day, plus two (2) Business Days thereafter. (c) Notwithstanding anything to the contrary As used herein, Bank “Transaction Record” shall have no obligation to make payment to Dealer/Contractor mean the following, with respect to sales under the Program until each purchase or with respect to a credit or return related to a purchase (as applicable): (i) the period pursuant sales invoice corresponding to which the Accountholder has the right purchase, credit or ability to cancel the applicable Purchase has expired (whether pursuant to contract return; or any law, rule, or regulation), and (ii) Bank has received a certificate an electronic transmission containing the following information: the Account number of satisfaction in a agreement approved by Bank from such Accountholder stating that the Accountholder, identification of the Jeweler location where the purchase, credit or return was made (if applicable), the total of (x) the purchase price of Goods and/or or Services have been installedpurchased or amount of the credit, as applicable, plus (y) the date of the transaction and the Accountholder is satisfied with a description of the Goods and/or Services. The agreement attached hereto as Schedule B is a representative agreement of an Accountholder Satisfaction Certificateor Services purchased, which generally reflects the type of disclosures Bank requires it to contain and the type of information Bank requires to collect. Unless and until Bank notifies Dealer/Contractor that it must use a different agreement, Dealer/Contractor will use the attached samplecredited or returned. (d) All Transaction Records are subject to review and acceptance by Bank. In the event of a computational or similar error of an accounting or record keeping nature with respect to such Transaction Records, Bank may credit to Dealer/Contractor’s Deposit Account or net against the Net Proceeds (as the case may be) the proper amount as corrected. Upon any such correction, Bank shall give Dealer/Contractor prompt notice of same, including details of the discrepancy and correction. Dealer/Contractor shall be responsible for ensuring that all Promotional Program Purchases are properly designated as such on the Transaction Record in accordance with Bank’s instructions. (e) Dealer/Contractor agrees that neither it nor anyone authorized to act on its behalf shall: (a) extract or attempt to extract any special agreement, condition or security from an Accountholder in connection with their use of an account issued under the Program, unless notified in a prior writing by Bank that such action has been approved; (b) perform its services in anything other than a professional and ethical manner, and in compliance with all applicable laws, rules and regulations, including any requirements of any governmental authorities or other sanctioning bodies having jurisdiction over Dealer/Contractor; or (c) take any action to contradict or conflict with Bank’s communications with Accountholders regarding the Accounts or other features of the Program, including offerings of Goods and/or Services unrelated to those of Dealer/Contractor.

Credit Transaction. (a) Dealer/Contractor Dealer will receive the net amount owed to Dealer/Contractor Dealer from Bank for each credit transaction involving an account issued under the Program (an “Account”) by Automated Clearing House (“ACH”) direct deposit. The various promotional plans available to those individuals who open accounts under this Agreement (“Accountholders”) and the pricing related thereto is set forth in Schedule A attached hereto. Bank may amend the promotional plan schedule from time to time in Bank’s sole discretion, as set forth therein. Dealer/Contractor Dealer may not add or assess any portion of administrative fees, or any other agreement of additional fees or consideration, to an Accountholder who chooses to use an Account as tender for Goods and/or Services. The Program is a non-recourse program for Dealer/Contractor, meaning that, subject to Bank’s chargeback rights set forth herein, Bank will not seek repayment from Dealer/Contractor Dealer if the Accountholder fails to repay the credit extended to him/her by Bank. However, if the Goods and/or Services are not properly charged to an Accountholder’s Account, the Goods and/or Services are not performed in full or in part, or the Accountholder is given a refund for the Goods and/or Services after Bank has paid Dealer/Contractor, then upon the request of Bank or the Accountholder, Dealer/Contractor Dealer will return the amount of such Bank payment to Bank within ten (10) Business Days. In such instances, the amount to be refunded to Accountholder will be returned to Bank as a credit to the Accountholder’s Account. (b) Each day (not just Business Days), Dealer/Contractor Dealer shall electronically transmit all Transaction Records evidencing transactions made under the Program to Bank via the Bank Portal on the same day in a format acceptable to Bank. Dealer/Contractor Dealer shall be responsible for properly designating, on the Transaction Records, the Dealer/Contractor Dealer location from which individual transactions originate. Subject to Section 2(c) below, Bank shall use commercially reasonable efforts to promptly verify and process such Transaction Records and, within three (3) Business Days thereafter, Bank will remit to Dealer/Contractor Dealer an amount equal to the net amount indicated by such Transaction Records for which such remittance is made. Bank will transfer funds via ACH to the Dealer/Contractor Dealer Deposit Account indicated in the Registration Agreement. For Transaction Records received by Bank’s processing center before 9 AM Eastern time on a Business Day, such ACH transfer will have an effective date of that Business Day, plus one (1) Business Day thereafter. For Transaction Records received by Bank’s processing center either (i) after 9 AM Eastern time on a Business Day, or (ii) on a non-Business Day, such ACH transfer will have an effective date of that day, plus two (2) Business Days thereafter. (c) Notwithstanding anything to the contrary herein, Bank shall have no obligation to make payment to Dealer/Contractor Dealer with respect to sales under the Program until (i) the period pursuant to which the Accountholder has the right or ability to cancel the applicable Purchase has expired (whether pursuant to contract or any law, rule, or regulation), and (ii) Bank has received a certificate of satisfaction in a agreement approved by Bank from such Accountholder stating that the Goods and/or Services have been installed, as applicable, and the Accountholder is satisfied with the Goods and/or Services. The agreement attached hereto as Schedule B is a representative agreement of an Accountholder Satisfaction Certificate, which generally reflects the type of disclosures Bank requires it to contain and the type of information Bank requires to collect. Unless and until Bank notifies Dealer/Contractor Dealer that it must use a different agreement, Dealer/Contractor Dealer will use the attached sample. (d) All Transaction Records are subject to review and acceptance by Bank. In the event of a computational or similar error of an accounting or record keeping nature with respect to such Transaction Records, Bank may credit to Dealer/Contractor’s Deposit Account or net against the Net Proceeds (as the case may be) the proper amount as corrected. Upon any such correction, Bank shall give Dealer/Contractor Dealer prompt notice of same, including details of the discrepancy and correction. Dealer/Contractor Dealer shall be responsible for ensuring that all Promotional Program Purchases are properly designated as such on the Transaction Record in accordance with Bank’s instructions. (e) Dealer/Contractor Dealer agrees that neither it nor anyone authorized to act on its behalf shall: : (a) extract or attempt to extract any special agreement, condition or security from an Accountholder in connection with their use of an account issued under the Program, unless notified in a prior writing by Bank that such action has been approved; (b) perform its services in anything other than a professional and ethical manner, and in compliance with all applicable laws, rules and regulations, including any requirements of any governmental authorities or other sanctioning bodies having jurisdiction over Dealer/Contractor; or (c) take any action to contradict or conflict with Bank’s communications with Accountholders regarding the Accounts or other features of the Program, including offerings of Goods and/or Services unrelated to those of Dealer/Contractor.