Excessive Chargebacks and/or Retrievals. Merchant understands and agrees that, in the event Acquirer is presented during any monthly period with chargebacks and/or retrieval requests relating to Transactions processed for the Merchant by Acquirer in excess of one percent (1%) of the current month’s NET sales volume (Transactions less credits and chargebacks), such chargeback and/or retrieval requests will conclusively be deemed to be excessive and under Card Association regulations shall allow Acquirer to take such action as may be authorized herein or by applicable Card Association regulations to mitigate Acquirer’s exposure to risk and/or loss.
Excessive Chargebacks and/or Retrievals. Merchant agrees that in the event Acquirer is presented, during any monthly period, with chargebacks and/or retrieval requests relating to the transactions of the Merchant processed by Acquirer in excess of one percent (1%) of interchange volume of such transactions, such chargeback and/or retrieval requests will conclusively be deemed to be excessive under applicable Card Issuer Regulations which shall allow Acquirer to take such action as may be authorized herein or by applicable Card Issuer Regulations, includ- ing, but not limited to, terminating this Agreement and/or passing through to Merchant any charges and/ or penalties that may be imposed by Visa/MasterCard/Discover/AXP. In addition to any other remedies provided herein, Acquirer may impose an excessive chargeback fee of Twenty-Five Dollars ($25) per occurrence if Merchant’s monthly chargeback volume exceeds one percent (1%) of monthly sales.
