Common use of Merchant Responsibility Clause in Contracts

Merchant Responsibility. (a) MERCHANT SHALL BE LIABLE FOR ALL FINES, CHARGES AND PENALTIES THAT MAY BE ASSESSED BY ANY CARD ASSOCIATION OR PAYMENT NETWORK AS A RESULT OF TRANSACTIONS MADE BY MERCHANT OR MERCHANT’S NONCOMPLIANCE WITH THE PRECEDING REQUIREMENTS. (b) Merchant acknowledges that it may be prohibited from participating in payment network programs if it is determined that Merchant is non-compliant. (c) Merchant acknowledges that Bank or NMS may cause Merchant to subject to an audit to verify Merchant’s compliance with the foregoing security requirements. (d) Merchant must notify Bank and NMS within twenty-four (24) hours after becoming aware of: (i) any suspected or actual data security breach; or (ii) any noncompliance by Merchant with the security requirements set forth herein. (e) Merchant shall, at its own expense: (i) perform or cause to be performed an independent investigation of any data security breach of Card or Transaction data by an authorized assessor acceptable to Bank and NMS; (ii) take all such remedial actions recommended by such investigation, Bank, NMS or Card Association; and (iii) cooperate with Bank and NMS in the investigation and resolution of any security breach.

Merchant Responsibility. (a) MERCHANT SHALL BE LIABLE FOR ALL FINES, CHARGES CHARGES, AND PENALTIES THAT MAY BE ASSESSED BY ANY CARD ASSOCIATION OR PAYMENT NETWORK AS A RESULT OF TRANSACTIONS MADE BY MERCHANT OR MERCHANT’S NONCOMPLIANCE WITH THE PRECEDING ARTICLE III’s REQUIREMENTS. (b) Merchant acknowledges that it may be prohibited from participating in payment network programs if it is determined that Merchant is non-compliant. (c) Merchant acknowledges that Bank or NMS may cause Merchant to subject to an audit to verify Merchant’s compliance with the foregoing security requirements. (d) Merchant must notify Company and Bank and NMS within twenty-four (24) hours after becoming aware of: (i) any suspected or actual data security breach; or (ii) any noncompliance by Merchant with the security requirements set forth hereinrequirements. (e) Merchant shall, at its own expense: (i) perform or cause to be performed an independent investigation of any data security breach of Card or Transaction data by an authorized assessor acceptable to Bank and NMSBank; (ii) take all such remedial actions recommended by such investigation, Bank, NMS or Card Association; and (iii) cooperate with Bank and NMS in the investigation and resolution of any security breach.

Merchant Responsibility. (a) MERCHANT SHALL BE LIABLE FOR ALL FINES, CHARGES AND PENALTIES THAT MAY BE ASSESSED BY ANY CARD ASSOCIATION OR PAYMENT NETWORK NETW ORK AS A RESULT OF TRANSACTIONS MADE BY MERCHANT OR MERCHANT’S NONCOMPLIANCE WITH W ITH THE PRECEDING REQUIREMENTS. (b) Merchant acknowledges that it may be prohibited from participating in payment network programs if it is determined that Merchant is non-compliant. (c) Merchant acknowledges that Bank or NMS may cause Merchant to subject to an audit to verify Merchant’s compliance with the foregoing security requirements. (d) Merchant must notify Bank and NMS within twenty-four (24) hours after becoming aware of: (i) any suspected or actual data security breach; or (ii) any noncompliance by Merchant with the security requirements set forth herein. (e) Merchant shall, at its own expense: (i) perform or cause to be performed an independent investigation of any data security breach of Card or Transaction data by an authorized assessor acceptable to Bank and NMSBank; (ii) take all such remedial actions recommended by such investigation, Bank, NMS Bank or Card Association; and (iii) cooperate with Bank and NMS in the investigation and resolution of any security breach.

Merchant Responsibility. (a) MERCHANT SHALL BE LIABLE FOR ALL FINES, CHARGES AND PENALTIES THAT MAY BE ASSESSED BY ANY CARD ASSOCIATION BRAND OR PAYMENT NETWORK AS A RESULT OF TRANSACTIONS MADE BY MERCHANT OR MERCHANT’S NONCOMPLIANCE WITH W ITH THE PRECEDING REQUIREMENTS. (b) Merchant acknowledges that it may be prohibited from participating in payment network programs if it is determined that Merchant is non-compliant. (c) Merchant acknowledges that Bank or NMS Service Provider may cause Merchant to subject to an audit to verify Merchant’s compliance with the foregoing security requirements. (d) Merchant must notify Bank and NMS Service Provider within twenty-four (24) hours after becoming aware of: (i) any suspected or actual data security breach; or (ii) any noncompliance by Merchant with the security requirements set forth herein. (e) Merchant shall, at its own expense: (i) perform or cause to be performed an independent investigation of any data security breach of Card or Transaction data by an authorized assessor acceptable to Bank and NMSService Provider; (ii) take all such remedial actions recommended by such investigation, Bank, NMS Service Provider or Card AssociationBrand; and (iii) cooperate with Bank and NMS Service Provider in the investigation and resolution of any security breach.

Merchant Responsibility. (a) MERCHANT SHALL BE LIABLE FOR ALL FINES, CHARGES AND PENALTIES THAT MAY BE ASSESSED BY ANY CARD ASSOCIATION OR PAYMENT NETWORK AS A RESULT OF TRANSACTIONS MADE BY MERCHANT OR MERCHANT’S NONCOMPLIANCE WITH W ITH THE PRECEDING REQUIREMENTS. (b) Merchant acknowledges that it may be prohibited from participating in payment network programs if it is determined that Merchant is non-compliant. (c) Merchant acknowledges that Bank or NMS Service Provider may cause Merchant to subject to an audit to verify Merchant’s compliance with the foregoing security requirements. (d) Merchant must notify Bank and NMS Service Provider within twenty-four (24) hours after becoming aware of: (i) any suspected or actual data security breach; or (ii) any noncompliance by Merchant with the security requirements set forth herein. (e) Merchant shall, at its own expense: (i) perform or cause to be performed an independent investigation of any data security breach of Card or Transaction data by an authorized assessor acceptable to Bank and NMSService Provider; (ii) take all such remedial actions recommended by such investigation, Bank, NMS Service Provider or Card Association; and (iii) cooperate with Bank and NMS Service Provider in the investigation and resolution of any security breach.