Common use of CREDITS TO ACCOUNT Clause in Contracts

CREDITS TO ACCOUNT. Merchant's Settlement Account shall be credited in an amount equal to the aggregate value of all on-line and all authorized offline transactions completed pursuant to this Agreement no later than, depending upon time of Merchant processing cutoff, either one (1) or two (2) bank business days following the day on which such transactions occur less monthly service and transaction fees, chargebacks and applicable State taxes or other required deductions. FIS shall guarantee settlement for all Transactions approved by FIS. EBT-only SNAP and WIC Merchants shall have a cutoff time of 2:30 am Central Time (CT) with the option to change. For cutoff times prior to 6:00 p.m. Central Time ("CT"), funds will be deposited to the Merchant's bank on the next bank business day following the day on which the transactions occurred. For cutoff times after 6:00 p.m. CT, funds will be deposited two banking days following the day on which the transactions occurred. A "banking day" shall mean a day that is not a nationally recognized bank holiday and on which a branch of the Federal Reserve that is used for settlement is open for business. FIS reserves the right to discontinue authorizing Transactions if FIS fails to receive reimbursement of funds from the appropriate government agency. In the event of such a discontinuance, FIS shall use reasonable commercial efforts to notify affected Merchants.

CREDITS TO ACCOUNT. Merchant's Settlement Account bank account shall be credited in an amount equal to the aggregate value of all on-line and all authorized offline off-line transactions completed pursuant to this Agreement no later than, depending upon time of Merchant processing cutoffcutover, either one (1) or two (2) bank business days following the day on which such transactions occur less monthly service and transaction fees, chargebacks fees and applicable State taxes or other required deductions. FIS shall guarantee settlement for all Transactions transactions approved by FIS. EBT-only SNAP and WIC Merchants shall have a cutoff cutover time of 2:30 am Central Time (CT) with the option to change. For cutoff cutover times prior to 6:00 p.m. Central Time ("CT"), funds will be deposited to the Merchant's bank on the next bank business day following the day on which the transactions occurred. For cutoff cutover times after 6:00 p.m. CT, funds will be deposited two banking days following the day on which the transactions occurred. A "banking day" shall mean a day that is not a nationally recognized bank holiday and on which a branch of the Federal Reserve that is used for settlement is open for business. FIS reserves the right to discontinue authorizing Transactions transactions if FIS fails to receive reimbursement of funds from the appropriate government agency. In the event of such a discontinuance, FIS shall use reasonable commercial efforts to notify affected Merchants.

CREDITS TO ACCOUNT. Merchant's Settlement Account bank account shall be credited in an amount equal to the aggregate value of all on-line and all authorized offline off-line transactions completed pursuant to this Agreement no later than, depending upon time of Merchant processing cutoff, either one (1) or two (2) bank business days following the day on which such transactions occur less monthly service and transaction fees, chargebacks fees and applicable State taxes or other required deductions. FIS shall guarantee settlement for all Transactions transactions approved by FIS. EBT-only SNAP and WIC Merchants shall have a cutoff time of 2:30 am Central Time (CT) with the option to change. For cutoff times prior to 6:00 p.m. Central Time ("CT"), funds will be deposited to the Merchant's bank on the next bank business day following the day on which the transactions occurred. For cutoff times after 6:00 p.m. CT, funds will be deposited two banking days following the day on which the transactions occurred. A "banking day" shall mean a day that is not a nationally recognized bank holiday and on which a branch of the Federal Reserve that is used for settlement is open for business. FIS reserves the right to discontinue authorizing Transactions transactions if FIS fails to receive reimbursement of funds from the appropriate government agency. In the event of such a discontinuance, FIS shall use reasonable commercial efforts to notify affected Merchants.

CREDITS TO ACCOUNT. Merchant's Settlement Account shall be credited in an amount equal to the aggregate value of all on-line and all authorized offline transactions completed pursuant to this Agreement no later than, depending upon time of Merchant processing cutoff, either one (1) or two (2) bank business days following the day on which such transactions occur less monthly service and transaction fees, chargebacks and applicable State taxes or other required deductions. FIS shall guarantee settlement for all Transactions approved by FIS. EBT-only SNAP and WIC EBT Merchants shall have a cutoff time of 2:30 am Central Time (“CT”) with the option to change. For cutoff times prior to 6:00 p.m. Central Time ("CT"), funds will be deposited to the Merchant's bank on the next bank business day following the day on which the transactions occurred. For cutoff times after 6:00 p.m. (“CT”), funds will be deposited two banking days following the day on which the transactions occurred. A "banking day" shall mean a day that is not a nationally recognized bank holiday and on which a branch of the Federal Reserve that is used for settlement is open for business. FIS reserves the right to discontinue authorizing Transactions if FIS fails to receive reimbursement of funds from the appropriate government agency. In the event of such a discontinuance, FIS shall use reasonable commercial efforts to notify affected Merchants.