Common use of Interchange Differential Clause in Contracts

Interchange Differential. With respect to any Foreign Transaction, it is understood that the increased Interchange cost attributable to the increase in the Purchase Amount by the Target Currency Conversion Margin shall be borne by the Merchant that submitted the particular Foreign Transaction. In the event that the Acquirer fails to assess such Merchant for such Interchange Differential for whatever reason, then the amount of the Interchange Differential shall be shared by the Acquirer and Planet Payment in the proportions in which they share Net FX Margin. Planet Payment’s reporting pursuant to Section 3.3 of the Agreement will include reporting and the allocation of Interchange Differential pursuant to this paragraph.