Common use of Financial Condition and History Clause in Contracts

Financial Condition and History. (a) Customer and each Principal authorize Purchaser and its agents to investigate their financial condition and history and authorize each of Customer’s card processors and other recipients of Customer’s Receivables (“Receivables Recipients”), as well as any of Customer’s customers, to provide Purchaser with Customer payment card, check processing and customer payment activity statements and any other information on Customer upon Purchaser’s request. Customer and each Principal authorize Purchaser to obtain a credit report and/or background report on Customer and each individual or Principal that signs this Agreement at any time during the term of this Agreement and one hundred eighty (180) days after the term of this Agreement (so as to allow time for post-judgment enforcement in the event arbitration is commenced). Customer will provide to Purchaser within five (5) days of a request by Purchaser any documents relating to Customer’s financial condition and history including, but not limited to, Customer’s bank statements, financial statements, tax returns and credit card and check processing activity statements. Such documents shall be legible, complete and unredacted. A photocopy of this authorization will be deemed acceptable for release of financial information. (b) Customer agrees that Purchaser may share information regarding payments made or owed by Customer to Purchaser in accordance with this Agreement with: (i) any broker or other third party that introduced Customer to Purchaser; (ii) any attorney, accountant, financial advisor or employee for the purpose of advising Purchaser; and (iii) any credit reporting agencies.

Financial Condition and History. (a) Customer and each Principal authorize Purchaser and its agents to investigate their financial condition and history and authorize each of Customer’s card processors and other recipients of Customer’s Receivables (“Receivables Recipients”), as well as any of Customer’s customers, to provide Purchaser with Customer payment card, check processing and customer payment activity statements and any other information on Customer upon Purchaser’s request. Customer and each Principal authorize Purchaser to obtain a credit report and/or background report on Customer and each individual or Principal that signs this Agreement at any time during the term of this Agreement and one hundred eighty (180) days after the term of this Agreement (so as to allow time for post-judgment enforcement in the event arbitration is commenced). Customer will provide to Purchaser within five (5) days of a request by Purchaser any documents relating to Customer’s financial condition and history including, but not limited to, Customer’s bank statements, financial statements, tax returns and credit card and check processing activity statements. Such documents shall be legible, complete and unredacted. A photocopy of this authorization will be deemed acceptable for release of financial information. (b) Customer agrees that Purchaser may share information regarding payments made or owed by Customer to Purchaser in accordance with this Agreement with: (i) any broker or other third party that introduced Customer to Purchaser; (ii) any attorney, accountant, financial advisor or employee for the purpose of advising Purchaser; and (iii) any credit reporting agenciesentities.