Common use of Held Funds Clause in Contracts

Held Funds. Should BlueSnap hold funds that are due to Merchant under this Agreement that it is unable to deliver because Merchant has not provided its current contact information or Merchant's account has become inactive or dormant but not terminated, it is agreed that BlueSnap may assess account maintenance, inactivity or dormant account fees as applicable until any balance is eliminated or Merchant makes contact to obtain the balance remaining at the time of contact less any applicable deductions, all subject ultimately to requirements of law.

Held Funds. Should BlueSnap hold funds that are due to Merchant under this Agreement that it is unable to deliver because Merchant has not provided its current contact information or MerchantXxxxxxxx's account has become inactive or dormant but not terminated, it is agreed that BlueSnap may assess account maintenance, inactivity or dormant account fees as applicable until any balance is eliminated or Merchant makes contact to obtain the balance remaining at the time of contact less any applicable deductions, all subject ultimately to requirements of law.