Escheatment. If there is no activity in an Account for the period of time set forth in the applicable unclaimed property laws, and Merchant have a credit, Company may notify Merchant by sending an email to Merchant registered email address. Company may also notify Merchant by U.S. mail. Company will give Merchant the option of keeping the Account open, withdrawing the funds, or requesting a check. If Merchant does not respond to Company notice within the time period specified in the notice, Company may close the Account and the Bank will escheat Merchant funds in accordance with applicable law.
Appears in 4 contracts
Samples: Terms and Conditions, End User License Agreement, Magic Payments Terms and Conditions
