Merchant’s Business. Merchant will notify Servicer immediately if it intends to (a) transfer or sell any substantial part of its total assets, or liquidate; (b) change the basic nature of its business, including selling any products or services not related to its current business; (c) change ownership or transfer control of its business; (d) enter into any joint venture, partnership or similar business arrangement whereby any person or entity not a party to this Agreement assumes any interest in Merchant's business; (e) alter in any way Merchant's approved monthly volume, average, or maximum ticket; (f) changes its return policies or to another fulfillment house different from those identified in Merchant Application; or (g) changes to its Account. Merchant will notify Servicer promptly in writing if it becomes subject to any voluntary or involuntary bankruptcy or insolvency petition or proceeding. Merchant’s failure to provide notice as required above may be deemed a material breach and will be sufficient grounds for termination of Merchant and for Servicer’s exercise of all its rights and remedies provided by this Agreement. If any change listed above occurs, Servicer may immediately terminate this Agreement.
Merchant’s Business. Merchant will notify Bank immediately if it intends to (a) transfer or sell any substantial part of its total assets, or liquidate; (b) change the basic nature of its business, including selling any products or services not related to its current business; (c) change ownership or transfer control of its business; (d) enter into any joint venture, partnership or similar business arrangement whereby any person or entity not a party to this Agreement assumes any interest in Merchant's business;
Merchant’s Business. (a) Merchant shall use commercially reasonable efforts to provide Service Providers with notice prior to (i) transferring or selling any substantial part of its total assets, or liquidating; (ii) changing the basic nature of its business, including selling any products or services not related to its current business; (iii) changing ownership or transferring control of its business; (iv) entering into any joint venture, partnership or similar business arrangement whereby more than 10% of Merchant’s equity changes ownership to an entity not listed on the Merchant Application; (v) processing transactions through any URL not already disclosed to Service Providers as required under Section 2.16; or (vi) materially altering Merchant’s approved monthly volume and average ticket.
(b) Failure to provide notice as required above may be deemed a breach of this Agreement, or, at Service Providers’ option may result in Service Providers amending the terms of this Agreement, including, but not limited to, permit holding funds and/or altering the Merchant funding schedule if Service Providers reasonably deem it necessary to protect against financial loss; (c) Merchant will immediately notify Service Providers of any bankruptcy, receivership, insolvency or similar action initiated by or against Merchant or any of its principals. Merchant will, to the extent permitted by applicable law, include Service Providers on the list of creditors filed with the Bankruptcy Court, whether or not a claim exists at the time of filing; (d) Merchant must notify Service Providers in writing of any material changes to the information in the Merchant Application or any additional retail locations using the Services. Merchant must also notify Service Providers in writing if Merchant sells or closes its business. Service Providers must receive all such notices seven days before the change or upon request. Merchant is liable to Service Providers for all losses and expenses incurred by Service Providers arising out of Merchant’s failure to report changes. Service Providers may immediately terminate this Agreement upon a material change to the information in the Merchant Application.
Merchant’s Business. Merchant will notify Peoples Trust immediately if it intends to, and prior to taking of any steps to (a) transfer or sell a substantial part of its assets, or liquidate; (b) change the basic nature of its business, including selling any products or services not related to its current business; (c) change ownership or transfer control of its business; (d) enter into any joint venture, partnership or similar business arrangement whereby any person or entity not a party to the Merchant Agreement assumes any interest in Merchant’s business; (e) alter in any way Merchant’s approved monthly volume, average ticket, or maximum ticket; (f) change its return policies or fulfillment house from those identified in the Merchant Application; (g) undertake any substantial change in the volume of Transactions in respect of domestic versus foreign purchases; or (h) add any outlet operations to its business in respect of the same products and/or services being offered by Merchant. Merchant will immediately notify Peoples Trust in writing if it becomes subject to any voluntary or involuntary bankruptcy or insolvency petition or proceeding. Merchant’s failure to provide notice as required above may be deemed a material breach and will be sufficient grounds for termination of Merchant and for Peoples Trust’s exercise of all its rights and remedies provided by the Merchant Agreement. If any change listed above occurs, Peoples Trust may immediately terminate the Merchant Agreement. Merchant further acknowledges and agrees that Peoples Trust may withhold funds (settlement or otherwise) or temporarily suspend processing under the Merchant Agreement if Peoples Trust, in its sole discretion, determines that such withholding or suspension is required to protect Peoples Trust from potential losses or if there exist material variances from the disclosures on the Merchant Application in (i) the nature of Merchant’s business, (ii) the type of or composition of Card processing conducted, or (iii) the actual average ticket size or actual monthly volume amount. If (A) such variances exist, (B) Merchant does not swipe or dip credit card or debit card through Terminals, (C) Merchant does not receive authorization for Transactions, (D) Peoples Trust receives excessive Retrieval requests against Merchant’s prior activity, or (E) excessive Chargebacks are debited against Merchant’s prior activity, then Peoples Trust may delay or withhold settlement of funds for a period not less than 180 days or...
Merchant’s Business. Merchant will notify MAS immediately if it intends to (a) transfer or sell any substantial part of its total assets, or liquidate; (b) change the basic nature of its business, including, without limitation, a change that would require a reclassification of Merchant’s business Category Codes pursuant to the Card Association rules and regulations or the selling any products or services not related to its business as stated in the Addendum; (c) change ownership or transfer control of its business; (d) enter into any joint venture, partnership or similar business arrangement whereby any person or entity not a party to this Agreement assumes any interest in Merchant’s business; (e) alter in any way Merchant’s approved monthly volume, average, or maximum ticket; or (f) changes its return policies or to another fulfillment house different from those identified in Addendum. Merchant will notify MAS promptly in writing if it becomes subject to any voluntary or involuntary bankruptcy or insolvency petition or proceeding. Merchant’s failure to provide notice as required above may be deemed a material breach and will be sufficient grounds for termination of Merchant and for MAS’s exercise of all its rights and remedies provided by this Agreement. If any change listed above or in the Addendum occurs, MAS may immediately terminate this Agreement.
Merchant’s Business. Merchant will notify Processor immediately if it intends to, and prior to taking of any steps to (a) transfer or sell a substantial part of its assets, or liquidate; (b) change the basic nature of its business, including selling any products or services not related to its current business; (c) change ownership or transfer control of its business; (d) enter into any joint venture, partnership or similar business arrangement whereby any person or entity not a party to the Merchant Agreement assumes any interest in Merchant’s business; (e) alter in any way Merchant’s approved monthly volume, average ticket, or maximum ticket; (f) change its return policies or fulfillment house from those identified in the Merchant Application; (g) undertake any substantial change in the volume of Transactions in respect of domestic versus foreign purchases; or (h) add any outlet operations to its business in respect of the same products and/or services being offered by Merchant. Merchant will immediately notify Processor in writing if it becomes subject to any voluntary or involuntary bankruptcy or insolvency petition or proceeding. Merchant’s failure to provide notice as required above may be deemed a material breach and will be sufficient grounds for termination of Merchant and for Processor’s exercise of all its rights and remedies provided by the Merchant Agreement. If any change listed above occurs, Processor may immediately terminate the Merchant Agreement. Xxxxxxxx further acknowledges and agrees that Processor may withhold funds.
Merchant’s Business. Other Processors… 8 10. Credit Reports and Other Information…… 9 Card Not Present (CNP) Addendum……….. 18 11. Confidentiality………………………………. 9 Special Services Addendum…………………. 19 12. Assignment; Bankruptcy…………………... 10 Merchant Restrictions Addendum…………. 20 13. Amendments; Waivers…………………….. 10 Discover Card Acceptance Addendum……. 21 14. Term; Termination………………………….. 10 Visa Account Updater Addendum………….. 23 15. Settlement Account………………………… 11 MasterCard Account Billing Updater ADDENDUM………………………………………... 23 16. Additional Collateral Security; Reserve Account
Merchant’s Business. 8.1 You undertake to accept Cards in payment for goods and/or services relating only to the Business, which goods and/or services may not be sold or produced in contravention of any common-law, statutory or regulatory provision. You must notify us in writing within three days if there is any change in the nature of your Business or in the ownership of the business.
8.2 In the event of changes, irrespective of any clause to the contrary in the Agreement, we may:
8.2.1 terminate the Agreement immediately without giving notice or reasons; or
8.2.2 continue with the Agreement, subject to any amendments that we consider appropriate, including our right to re-sign the necessary documents and agreements, and reassess you.
Merchant’s Business. Merchant will notify Peoples Trust immediately if it intends to, and prior to taking of any steps to (a) transfer or sell a substantial part of its assets, or liquidate; (b) change the basic nature of its business, including selling any products or services not related to its current business; (c) change ownership or transfer control of its business; (d) enter into any joint venture, partnership or similar business arrangement whereby any person or entity not a party to the Merchant Agreement assumes any interest in Merchant’s business; (e) alter in any way Merchant’s approved monthly volume, average ticket, or maximum ticket;
Merchant’s Business. Merchant will notify Bank immediately if it intends to (a) transfer or sell any substantial part of its total assets, or liquidate;
