New Merchants. By completing and returning this Opt-Out Form as set out below, you are choosing not to take part in any of the Previous Settlements or this Settlement Agreement. New Merchants who opt out will not be bound by the Previous Settlements and this Settlement Agreement or the releases in those settlements, but will also not be entitled to share in any of the proceeds that may become available to Merchants as part of those settlements. CONSEQUENCES OF NOT OPTING OUT
New Merchants. For New Merchants, if you do not complete and return this Opt-Out Form, you will be bound by this Settlement Agreement and the Previous Settlements, and the releases in them, and will be entitled to share in any of the proceeds that may become available to Merchants as part of those settlements. You will have no further opportunity to opt out of the Canadian Proceedings. In order to be effective, this form must be fully completed and sent to the Opt-Out Administrator at the address set out below, and must be postmarked no later than DATE. Opt-Out Forms received after DATE will not be accepted. For more information on this Settlement Agreement, or the Canadian Proceedings, please visit xxx.xxxxxxxxxxxxxxxxxxxxx.xxx Name of business*: (required) * Provide the name of the person or legal entity accepting Visa or MasterCard credit cards. This is probably the name listed on the statements you receive from your payment processor. Name of payment processor: (required) Your name: (required) Your address: (required) Your telephone number: ( ) - (required) Your email address: (optional) I declare that I have legal authority to bind the business named above, which has decided to opt-out as set out above. Signature Date <Epiq’s info and designated recipient> Class action lawsuits were brought in BC, AB, ON, SK and QC against Visa, Mastercard and a number of banks that issue their credit cards (the “Issuing Banks”) on behalf of all merchants in Canada who accept those credit cards. The lawsuits allege a conspiracy in setting higher interchange fees paid by merchants to accept Visa and Mastercard credit cards, and other restrictions. The allegations are denied. Settlements of class action lawsuits must be approved by the Courts before they are effective. To date, seven settlements with some of the Issuing Banks and with Visa and MasterCard have been approved. The net proceeds of those settlements were held for distribution after resolution of the remaining claims. There is now a proposed settlement with the five remaining Issuing Banks, namely, ROYAL BANK OF CANADA, THE TORONTO-DOMINION BANK, CANADIAN IMPERIAL BANK OF COMMERCE, BANK OF MONTREAL, AND
New Merchants. Within thirty (30) days after FDMS provides the ------------- Company with operable FDMS Software, the Company shall modify its electronic commerce system so that FDMS and such Affiliates as FDMS elects shall be the merchant provider of Internet merchant accounts unless a merchant specifically rejects FDMS, in which event the system may default to a different provider.
New Merchants. If you are a New Merchant, and we have activated your access to the Fraud Shield Services, we will not pay you the amount for Covered Chargebacks during the Evaluation Period. Instead, we will hold these amounts, and only pay them to you once you have successfully passed our internal control processes, including our processes related to credit and fraud risk. We may extend the Evaluation Period based on certain criteria determined by us. If during the Evaluation Period these criteria are not met, then these Fraud Shield Terms will automatically terminate, and you will not be entitled any amounts held by us (or otherwise owed to you) with respect to Covered Chargebacks.
New Merchants. If PLIC adds any Internet Merchants to its Merchant list, PLIC shall promptly notify Sherlock and shall ensure that Sherlock receives access and use rights to such new Merchant's database that are equal with PLIC's rights. In addition, PLIC shall use its best efforts to obtain for Sherlock rights equal to the rights granted to PLIC with respect to selling, product and pricing rights from such new Merchants. Sherlock acknowledges and agrees that other ISO's may bring PLIC products and merchants that will only be available to that ISO or may only be available on another mall and the only rights that PLIC may allow Sherlock is the reciprocal rights for all of the Sherlock card holders to shop on those malls or stores.
