Exposure Cap. Spinach Pay will, in its sole discretion, assign you an Exposure Cap, expressed as a percentage. This percentage is calculated as the amount of outstanding Declined Payments relative to the amount of processed payments during the calendar month where the Collection Period (60 days) has ended.The Exposure Cap may go up or down depending on the number of Declined Payments during a given billing period. Using an assigned 1% Exposure Cap as an example, if Spinach Pay has facilitated payments for you totaling $1,000 during January, and out of those, $50 was declined and $10 was collected via Spinach Pay’s debt collection efforts (such that $40 is still outstanding), you would be billed $30 after the Collection Period ends and Spinach Pay will absorb the $10 (1% of $1,000). If your company engages in business to business transactions (B2B), then an Exposure Cap may not apply. Spinach Pay will reclaim any Declined Payments as soon as processing allows and avoid the Collection Period. Any questions related to Declined Payments can be sent to xxxxxxx@XxxxxxxXxx.xxx.
Exposure Cap. Notwithstanding anything in this Agreement to the contrary, IOC shall not be obligated to pay Agrifos more than [*] at any given time for Subject Tons that have not been resold by IOC. Upon such Subject Tons being sold, IOC shall pay Agrifos promptly for same within four (4) days of such sale. IOC shall grant to Agrifos a first priority security interest in and to any such Subject Tons until the same are resold by IOC and payment with respect to same is received by Agrifos. Any such Subject Tons would be stored in a bonded warehouse (or such other warehouse as may be satisfactory to Agrifos) and insured by IOC, with Agrifos being named as an additional insured under IOC’s insurance policy.
