Common use of Payments for Services Clause in Contracts

Payments for Services. BlueSnap will pay Merchant the total of (a) amounts received in the previous period settlement period by BlueSnap from Acquirers for Merchant transactions processed through BlueSnap Services to End-User Customers (“End-User Receipts”) less (b) (i) the BlueSnap Service Fee set forth in this Agreement for the transactions (“BlueSnap Service Fee”); (ii) all amounts paid or incurred by BlueSnap in the previous period in connection with Refunds; (iii) all amounts paid or incurred by BlueSnap in the previous period for Chargebacks; (iv) any Rolling Reserve; (v) any Holdbacks; (vi) applicable charges, fees and deductions to Merchant as referred to in the pricing and fees together with any taxes that may be charged and directly remitted by BlueSnap to relevant tax authorities as BlueSnap deems required but in the absence of which is Merchant’s sole responsibility and (vii) any other payments or charges to third parties, including licensing, distribution or payment processing fees, foreign exchange and management fees including commercial markups, a proportionate sum of any processor and/or Acquirer network fees BlueSnap incurs in connection with this Agreement or any transaction relating to this Agreement (the result of the calculation in (a), and (b), “Merchant Balance”). All sums owed by BlueSnap to Merchant shall be held in a non-interest bearing account managed by BlueSnap, pending release to Merchant in accordance with the payment terms of this Agreement. Merchant agrees to the payment of settlement funds being made from the Acquirer to BlueSnap. BlueSnap will collect payments from End-User Customers on behalf of Merchant as its limited agent. Pursuant to the terms hereof, BlueSnap will remit to Merchant all payments received from End-User Customers less any amounts owing to BlueSnap hereunder or as otherwise due or provided in this Agreement or BlueSnap Merchant Terms. Notwithstanding anything to the contrary, Merchant hereby appoints BlueSnap as its payment collection agent solely for the limited purpose of accepting funds from End-User Customers on its behalf in connection with Products that Merchant provides or sells to End-User Customers. Payment from an End-User Customer shall be considered the same as payment made directly to Merchant by the End-User Customer. Upon End-User Customer’s payment of the funds to BlueSnap, End-User Customer’s payment obligation to Merchant for an amount equal to the funds remitted to BlueSnap is terminated, and BlueSnap is instead responsible for remitting the funds to Merchant in the manner described in this Agreement. Merchant’s recourse is only against BlueSnap if BlueSnap fails to remit funds received from an End-User Customer pursuant to the terms hereof.

Payments for Services. BlueSnap will pay Merchant the total of (a) amounts received in the previous period settlement period by BlueSnap from Acquirers for Merchant transactions processed through BlueSnap Services to End-User Customers (“End-User Receipts”) less (b) (i) the BlueSnap Service Fee set forth in this Agreement for the transactions (“BlueSnap Service Fee”); (ii) all amounts paid or incurred by BlueSnap in the previous period in connection with Refunds; (iii) all amounts paid or incurred by BlueSnap in the previous period for Chargebacks; (iv) any Rolling Reserve; (v) any Holdbacks; (vi) applicable charges, fees and deductions to Merchant as referred to in the pricing and fees together with any taxes that may be charged and directly remitted by BlueSnap to relevant tax authorities as BlueSnap deems required but in the absence of which is Merchant’s sole responsibility and (vii) any other payments or charges to third parties, including licensing, distribution or payment processing fees, foreign exchange and management fees including commercial markups, a proportionate sum of any processor and/or Acquirer network fees BlueSnap incurs in connection with this Agreement or any transaction relating to this Agreement (the result of the calculation in (a), and (b), “Merchant Balance”). All sums owed by BlueSnap to Merchant shall be held in a non-interest bearing account managed by BlueSnap, pending release to Merchant in accordance with the payment terms of this Agreement. Merchant agrees to the payment of settlement funds being made from the Acquirer to BlueSnap. BlueSnap will collect payments from End-User Customers on behalf of Merchant as its limited agent. Pursuant to the terms hereof, BlueSnap will remit to Merchant all payments received from End-User Customers less any amounts owing to BlueSnap hereunder or as otherwise due or provided in this Agreement or BlueSnap Merchant Terms. Notwithstanding anything to the contrary, Merchant hereby appoints BlueSnap as its payment collection agent solely for the limited purpose of accepting funds from End-User Customers on its behalf in connection with Products that Merchant provides or sells to End-User Customers. Payment from an End-User Customer shall be considered the same as payment made directly to Merchant by the End-User Customer. Upon End-User Customer’s payment of the funds to BlueSnap, End-User Customer’s payment obligation to Merchant for an amount equal to the funds remitted to BlueSnap is terminated, and BlueSnap is instead responsible for remitting the funds to Merchant in the manner described in this Agreement. Merchant’s recourse is only against BlueSnap if BlueSnap fails to remit funds received from an End-User Customer pursuant to the terms hereof.

Payments for Services. BlueSnap will pay Merchant the total of (a) amounts received in the previous period settlement period by BlueSnap from Acquirers for Merchant transactions processed through BlueSnap Services to End-User Customers (“End-User Receipts”) less (b) (i) the BlueSnap Service Fee set forth in this Agreement for the transactions (“BlueSnap Service Fee”); (ii) all amounts paid or incurred by BlueSnap in the previous period in connection with Refunds; (iii) all amounts paid or incurred by BlueSnap in the previous period for Chargebacks; (iv) any Rolling “Reserve” (a percentage or fixed sum regularly held back and/or rolled over from payout to support refunds, cancellations, and avoid negative balances); (v) any Holdbacks; (vi) applicable charges, fees and deductions to Merchant as referred to in the pricing and fees together with any taxes that may be charged and directly remitted by BlueSnap to relevant tax authorities as BlueSnap deems required but in the absence of which is Merchant’s sole responsibility and (vii) any other payments or charges to third parties, including licensing, distribution or payment processing fees, foreign exchange and management fees including commercial markups, a proportionate sum of any processor and/or Acquirer network fees BlueSnap incurs in connection with this Agreement or any transaction relating to this Agreement (the result of the calculation in (a), and (b), “Merchant Balance”). All sums owed by BlueSnap to Merchant shall be held in a non-interest bearing account managed by BlueSnap, pending release to Merchant in accordance with the payment terms of this Agreement. Merchant Xxxxxxxx agrees to the payment of settlement funds being made from the Acquirer to BlueSnap. BlueSnap will collect payments from End-User Customers on behalf of Merchant as its limited agent. Pursuant to the terms hereof, BlueSnap will remit to Merchant all payments received from End-User Customers less any amounts owing to BlueSnap hereunder or as otherwise due or provided in this Agreement or BlueSnap Merchant TermsTerms and Conditions. Notwithstanding anything to the contrary, Merchant hereby appoints BlueSnap as its payment collection agent solely for the limited purpose of accepting funds from End-User Customers on its behalf in connection with Products that Merchant provides or sells to End-User Customers. Payment from an End-User Customer shall be considered the same as payment made directly to Merchant by the End-User Customer. Upon End-User Customer’s payment of the funds to BlueSnap, End-User Customer’s payment obligation to Merchant for an amount equal to the funds remitted to BlueSnap is terminated, and BlueSnap is instead responsible for remitting the funds to Merchant in the manner described in this Agreement. MerchantXxxxxxxx’s recourse is only against BlueSnap if BlueSnap fails to remit funds received from an End-User Customer pursuant to the terms hereof.