Common use of Government and Regulatory Actions Clause in Contracts

Government and Regulatory Actions. Bank will not be required to provide Merchant with fifteen days’ notice for any increase in Processing Fees resulting from any fine, charge, fee or cost incurred in connection with any state, federal or other regulatory action, change in laws or regulations or escheatment of Merchant’s funds. Bank shall make reasonable efforts including, but not limited to, written correspondence, notification on statements, website notification, email, fax and direct contact via the telephone or otherwise to provide reasonable notification to Merchant. However, failure to provide advance notice of the increase in Processing Fees as a result of any government or other regulatory actions will not affect Merchant’s obligation to pay the increased Processing Fees. The increase(s) in the Processing Fees shall be effective on the date specified by Bank.

Government and Regulatory Actions. Bank will not be required to provide Merchant with fifteen days’ (15) days notice for any increase in Processing Fees resulting from any fine, charge, fee or cost incurred in connection with any state, federal or other regulatory action, change in laws or regulations or escheatment of Merchant’s funds. Bank shall make reasonable efforts including, but not limited to, written correspondence, notification on statements, website notification, email, fax and direct contact via the telephone or otherwise to provide reasonable notification to Merchant. However, failure to provide advance notice of the increase in Processing Fees as a result of any government or other regulatory actions will not affect Merchant’s obligation to pay the increased Processing Fees. The increase(s) in the Processing Fees shall be effective on the date specified by Bank.

Government and Regulatory Actions. Bank will not be required to provide Merchant with fifteen days’ thirty (30) days notice for any increase in Processing Fees resulting from any fine, charge, fee or cost incurred in connection with any state, federal or other regulatory action, change in laws or regulations or escheatment of Merchant’s funds. Bank shall make reasonable efforts including, but not limited to, written correspondence, notification on statements, website notification, email, fax and direct contact via the telephone or otherwise to provide reasonable notification to Merchant. However, failure to provide advance notice of the increase in Processing Fees as a result of any government or other regulatory actions will not affect Merchant’s obligation to pay the increased Processing Fees. The increase(s) in the Processing Fees shall be effective on the date specified by Bank.