Common use of Financial Condition and History Clause in Contracts

Financial Condition and History. (a) Merchant and each Principal authorize Purchaser and its agents to investigate their financial condition and history and authorize each of Merchant’s card processors, other Receivables Recipients and customers to provide Purchaser with Merchant payment card, check processing and customer payment activity statements and any other information on Merchant upon Purchaser’s request. Merchant and each Principal authorize Purchaser to obtain a credit report and / or background report on Merchant 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 litigation or arbitration is commenced). Merchant will provide to Purchaser within five (5) days of a request by Purchaser any documents relating to Xxxxxxxx’s financial condition and history including, but not limited to, Xxxxxxxx’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.