Common use of Merchant Deposit Agreement and Processor Clause in Contracts

Merchant Deposit Agreement and Processor. Merchant shall (A) execute an agreement acceptable to FUNDER with a Bank acceptable to FUNDER to obtain electronic fund transfer services for the Account, and (B) if applicable, execute an agreement acceptable to FUNDER with a credit and debit card processor (the “Processor”) instructing the Processor to deposit all Receipts into the Account. Merchant shall provide FUNDER and/or its authorized agent(s) with all of the information, authorizations and passwords necessary for verifying Merchant’s receivables, receipts, deposits and withdrawals into and from the Account. Merchant hereby authorizes FUNDER and/or its agent(s) to withdraw from the Account via ACH debit the amounts owed to FUNDER for the receipts as specified herein and to pay such amounts to FUNDER. These authorizations apply not only to the approved Account but also to any subsequent or alternate account used by the Merchant for these deposits, whether pre- approved by FUNDER or not. This additional authorization is not a waiver of FUNDER’s entitlement to declare this Agreement breached by Merchant as a result of its usage of an account which FUNDER did not first pre- approve in writing prior to Merchant’s usage thereof. The aforementioned authorizations shall be irrevocable without the written consent of FUNDER.

Merchant Deposit Agreement and Processor. Merchant shall (A) execute an agreement acceptable to FUNDER RCNY with a Bank acceptable to FUNDER RCNY to obtain electronic fund transfer services for the Account, and (B) if applicable, execute an agreement acceptable to FUNDER RCNY with a credit and debit card processor (the “Processor”) instructing the Processor to deposit all Receipts into the Account. Merchant shall provide FUNDER RCNY and/or its authorized agent(s) with all of the information, authorizations and passwords necessary for verifying Merchant’s receivables, receipts, deposits and withdrawals into and from the Account. Merchant Xxxxxxxx hereby authorizes FUNDER RCNY and/or its agent(s) to withdraw from the Account via ACH debit the amounts owed to FUNDER RCNY for the receipts as specified herein and to pay such amounts to FUNDERRCNY. These authorizations apply not only to the approved Account but also to any subsequent or alternate account used by the Merchant for these deposits, whether pre- approved by FUNDER RCNY or not. This additional authorization is not a waiver of FUNDERRCNY’s entitlement to declare this Agreement breached by Merchant Xxxxxxxx as a result of its usage of an account which FUNDER RCNY did not first pre- pre-approve in writing prior to Merchant’s usage thereof. The aforementioned authorizations shall be irrevocable without the written consent of FUNDERRCNY.

Merchant Deposit Agreement and Processor. Merchant shall (A) execute an agreement acceptable to FUNDER Purchaser with a Bank acceptable to FUNDER Purchaser to obtain electronic fund transfer services for the Account, and (B) if applicable, execute an agreement acceptable to FUNDER Purchaser with a credit and debit card processor (the “Processor”) instructing the Processor to deposit all Receipts into the Account. Merchant shall provide FUNDER Purchaser and/or its authorized agent(s) with all of the information, authorizations and passwords necessary for verifying Merchant’s receivables, receipts, deposits and withdrawals into and from the Account. Merchant hereby authorizes FUNDER Purchaser and/or its agent(s) to withdraw from the Account via ACH debit the amounts owed to FUNDER Purchaser for the receipts as specified herein and to pay such amounts to FUNDERPurchaser. These authorizations apply not only to the approved Account but also to any subsequent or alternate account used by the Merchant for these deposits, whether pre- approved by FUNDER Purchaser or not. This additional authorization is not a waiver of FUNDERPurchaser’s entitlement to declare this Agreement breached by Merchant as a result of its usage of an account which FUNDER Purchaser did not first pre- pre-approve in writing prior to Merchant’s usage thereof. The aforementioned authorizations shall be irrevocable without the written consent of FUNDERPurchaser.

Merchant Deposit Agreement and Processor. Merchant shall (A) execute an agreement acceptable to FUNDER VCG with a Bank acceptable to FUNDER VCG to obtain electronic fund transfer services for the Account, and (B) if applicable, execute an agreement acceptable to FUNDER VCG with a credit and debit card processor (the “Processor”) instructing the Processor to deposit all Receipts into the Account. Merchant shall provide FUNDER VCG and/or its authorized au-thorized agent(s) with all of the information, authorizations and passwords necessary for verifying Merchant’s receivables, receipts, deposits and withdrawals into and from the Account. Merchant Mxxxxxxx hereby authorizes FUNDER VCG and/or its agent(s) to withdraw from the Account via ACH debit the amounts owed to FUNDER VCG for the receipts as specified herein and to pay such amounts to FUNDERVCG. These authorizations apply not only to the approved Account but also to any subsequent or alternate account used by the Merchant for these deposits, whether pre- approved by FUNDER VCG or not. This additional addi-tional authorization is not a waiver of FUNDERVCG’s entitlement to declare this Agreement breached by Merchant Mxxxxxxx as a result of its usage u sage of an account which FUNDER VCG did not first pre- pre-approve in writing prior to MerchantMxxxxxxx’s usage thereof. The aforementioned authorizations shall be irrevocable without the written consent of FUNDERVCG.

Merchant Deposit Agreement and Processor. Merchant shall (A) execute an agreement acceptable to FUNDER BCP with a Bank acceptable to FUNDER BCP to obtain electronic fund transfer services for the Account, and (B) if applicable, execute an agreement acceptable to FUNDER BCP with a credit and debit card processor (the “Processor”) instructing the Processor to deposit all Receipts into the Account. Merchant shall provide FUNDER BCP and/or its authorized agent(s) with all of the information, authorizations and passwords necessary for verifying Merchant’s receivables, receipts, deposits and withdrawals into and from the Account. Merchant hereby authorizes FUNDER BCP and/or its agent(s) to withdraw from the Account via ACH debit the amounts owed to FUNDER BCP for the receipts as specified herein and to pay such amounts to FUNDERBCP. These authorizations apply not only to the approved Account but also to any subsequent or alternate account used by the Merchant for these deposits, whether pre- approved by FUNDER BCP or not. This additional authorization is not a waiver of FUNDERBCP’s entitlement to declare this Agreement breached by Merchant as a result of its usage of an account which FUNDER that BCP did not first pre- pre-approve in writing prior to Merchant’s usage thereof. The aforementioned authorizations shall be irrevocable without the written consent of FUNDERBCP. Any such funds collected by merchant, due to BCP, not transferred or left unpaid shall be considered breach of contract, wrongful appropriation, unjust enrichment and civil theft by appropriation.