Merchant Accounts. It is understood that the Company may keep merchant accounts in its name only with EEA regulated payment institutions used to settle payment transactions of its Clients. However, for the avoidance of doubt, it is noted that such merchant accounts are not used for safekeeping of Client money but only to effect settlements of payment transactions. There are instances where such merchant accounts might be held with a payment institution authorized in a third country. In such a case the Company will take all reasonable measures to ensure that payment institutions authorized in a third country are supervised by regulatory authorities of equivalent status to CySEC and/or are satisfying any other requirements set by the applicable regulations.
Merchant Accounts. PAYMARK shall be entitled to facilitate the depositing of Transaction settlement proceeds and the debiting of any amount payable by the Merchant under this Agreement to such account as advised by the Merchant to the Bank, and the Bank to PAYMARK, as being the Merchant Account.
Merchant Accounts. All security interests in each demand deposit or ----------------- current or similar account, either with Bank or another financial institution, linked to a customer under a Merchant Agreement, in accordance with Section 5.3;
Merchant Accounts. (i) EVERTEC will input such data for each approved Merchant (and assist BPPR in managing the corresponding data for the Government-Merchants) in databases as is necessary for such Merchant or Government-Merchant to participate in the Merchant Program. EVERTEC will maintain the data files in a manner reasonably designed to assure that all Merchant and Government-Merchant charges are input promptly.
(ii) EVERTEC will input all necessary new account information into EVERTEC’s information system in a manner reasonably designed to render all exception reports turned on and available.
(iii) EVERTEC will monitor all Merchant DDAs daily in accordance with the Rules to attempt to minimize Merchant Losses and shall provide BPPR with summary reports thereof in a form reasonably agreed between BPPR and EVERTEC; provided, however, that the DDA’s for Government-Merchants shall be monitored by BPPR.
Merchant Accounts. All merchant accounts shall be held and maintained by Healthnet and Healthnet shall only be responsible for processing credit card debits and credits for merchant accounts that it has obtained on behalf of the Licensee.
Merchant Accounts. Worldline shall be entitled to facilitate the depositing of Transaction settlement proceeds and the debiting of any amount payable by the Merchant under this Agreement to such account as advised by the Merchant to the Bank, and the Bank to Worldline, as being the Merchant Account.
Merchant Accounts. 4.3.1. UCLA shall maintain records of Merchant BruinCard transaction detail for a minimum period of one (1) month.
4.3.2. Upon reasonable Merchant request, UCLA shall provide Merchant with a daily statement of Merchant BruinCard transaction activity. UCLA may also (at UCLA’s option) provide a weekly statement of Merchant BruinCard transaction activity when making payment to the Merchant of the value of Merchant’s BruinCard sales.
Merchant Accounts. Purchaser shall apply for merchant credit card accounts in its own name promptly after the Settlement Date. For a period not to exceed ninety (90) days after the Settlement Date, Seller shall, to the extent permitted under agreements
Merchant Accounts. (i) EVERTEC will input such data for each approved Merchant (and assist BPPR in managing the corresponding data for the Government-Merchants) into the applicable database(s) as is necessary for such Merchant or Government-Merchant to participate in the Merchant Program. EVERTEC will maintain the data files in a manner reasonably designed to assure that all Merchant and Government-Merchant charges are input promptly.
(ii) EVERTEC will input all necessary new account information into EVERTEC’s information system in a manner reasonably designed to render all exception reports turned on and available.
(iii) EVERTEC will monitor all Transactions daily in accordance with the Rules and applicable Legal Requirements to attempt to minimize Merchant Losses and upon BPPR’s request shall provide BPPR with summary reports thereof in a form reasonably agreed between BPPR and EVERTEC. In furtherance of the foregoing and to the extent consistent with applicable Legal Requirements and expressly permitted under the agreement(s) with the specific Merchant, EVERTEC will be permitted to access information regarding the relevant Merchant DDAs through an interface developed by EVERTEC and implemented with BPPR’s prior approval, not to be unreasonably withheld. If such interface cannot be developed on commercially reasonable terms, then the parties will in good faith discuss and seek to agree on an alternate method for BPPR to provide EVERTEC with such information regarding the relevant Merchant DDAs. EVERTEC shall bear all expenses arising out of the development, implementation and use of such interface (or other means of providing EVERTEC with access to such information, if applicable) and shall hold BPPR and its Affiliates harmless from any losses, charges, damages, liabilities, penalties, increased taxes (excluding taxes based on BPPR’s net income), costs, fees, or expenses, including court costs and reasonable attorneys’ fees, resulting from EVERTEC’s violation of BPPR’s terms of access to such interface, or negligence, fraud or willful misconduct in connection with such access. The DDAs for Government-Merchants shall be monitored by BPPR.
Merchant Accounts. 24 ----------------- 5.23 Governmental Approvals and Licenses...............................................................25 ----------------------------------- 5.24 Publicity.........................................................................................25 --------- 5.25 Financial Information.............................................................................25 ---------------------
