Common use of Placed Equipment Clause in Contracts

Placed Equipment. If the Merchant has accepted the placement of Agent owned equipment for the processing of transactions hereunder, then the addendum executed by the Merchant related to such equipment shall be incorporated into this Agreement as if such terms were set forth herein. However, if the Merchant has accepted the placement of Agent owned equipment (the “Equipment”) and no addendum or other agreement was signed, the following terms and conditions shall apply to such placement: (a) Merchant agrees that the Equipment is the property of Agent, is being licensed to Merchant, and must be returned in good and working condition within ten (10) days of the termination or expiration of this Agreement. If the Equipment is not returned within ten (10) days, Merchant agrees to pay Agent the value of such equipment, which shall be the same as Agent charges for the same equipment to its other merchants. (b) If the box referencing rental of the Equipment is checked in the Merchant Application, Merchant shall pay the stated license fee on the Equipment on a monthly basis, plus the applicable sales use taxes, beginning the month the Equipment is received by Merchant and continuing until the Equipment is returned by Merchant or this Agreement is terminated or expires. (c) Merchant agrees to be responsible for any damage to the Equipment as a result of misuse or negligence. (d) Merchant agrees to indemnify and hold Servicers harmless from and against any and all liabilities, losses, claims, damages, disputes, offsets, claims or counterclaims of any kind in any way related to the use (or misuse) of the Equipment. This includes any damage to the Equipment resulting from an act of nature, fire, or theft, or from misuse or negligence by Merchant or its agents. Merchant also agrees to pay Agent a shipping/handling charge for each delivery of replacement Equipment, regardless of the reason. Notwithstanding the prior paragraph, if Merchant subscribes to certain level(s) of Agent’s Payments Hub Program, it will not be responsible for failure of Equipment for any reason, so long as such Equipment is returned to Agent. Under this program, Agent will also provide overnight replacement of the Equipment free of shipping/handling charges, after remote troubleshooting efforts are unsuccessful. Comparable replacement Equipment may be new or refurbished, or a different brand or model. Replacements are limited to two (2) in any consecutive twelve (12) month period.

Placed Equipment. If the Merchant has accepted the placement of Agent owned equipment for the processing of transactions hereunder, then the addendum executed by the Merchant related to such equipment shall be incorporated into this Agreement as if such terms were set forth herein. However, if the Merchant has accepted the placement of Agent owned equipment (the “Equipment”) and no addendum or other agreement was signed, the following terms and conditions shall apply to such placement: (a) Merchant agrees that the Equipment is the property of Agent, is being licensed to Merchant, and must be returned in good and working condition within ten (10) days of the termination or expiration of this Agreement. If the Equipment is not returned within ten (10) days, Merchant Xxxxxxxx agrees to pay Agent the value of such equipment, which shall be the same as Agent charges for the same equipment to its other merchants. (b) If the box referencing rental of the Equipment is checked in the Merchant Application, Merchant shall pay the stated license fee on the Equipment on a monthly basis, plus the applicable sales use taxes, beginning the month the Equipment is received by Merchant and continuing until the Equipment is returned by Merchant or this Agreement is terminated or expires. (c) Merchant Xxxxxxxx agrees to be responsible for any damage to the Equipment as a result of misuse or negligence. (d) Merchant Xxxxxxxx agrees to indemnify and hold Servicers harmless from and against any and all liabilities, losses, claims, damages, disputes, offsets, claims or counterclaims of any kind in any way related to the use (or misuse) of the Equipment. This includes any damage to the Equipment resulting from an act of nature, fire, or theft, or from misuse or negligence by Merchant or its agents. Merchant Xxxxxxxx also agrees to pay Agent a shipping/handling charge for each delivery of replacement Equipment, regardless of the reason. Notwithstanding the prior paragraph, if Merchant subscribes to certain level(s) of Agent’s Payments Hub Program, it will not be responsible for failure of Equipment for any reason, so long as such Equipment is returned to Agent. Under this program, Agent will also provide overnight replacement of the Equipment free of shipping/handling charges, after remote troubleshooting efforts are unsuccessful. Comparable replacement Equipment may be new or refurbished, or a different brand or model. Replacements are limited to two (2) in any consecutive twelve (12) month period.

Placed Equipment. If the Merchant has accepted the placement of Agent owned equipment for the processing of transactions hereunder, then the addendum executed by the Merchant related to such equipment shall be incorporated into this Agreement as if such terms were set forth herein. However, if the Merchant has accepted the placement of Agent owned equipment (the “Equipment”) and no addendum or other agreement was signed, the following terms and conditions shall apply to such placement: (a) Merchant agrees that the Equipment is the property of Agent, is being licensed to Merchant, and must be returned in good and working condition within ten (10) days of the termination or expiration of this Agreement. If the Equipment is not returned within ten (10) days, Merchant agrees to pay Agent the value of such equipment, which shall be the same as Agent charges for the same equipment to its other merchants. (b) If the box referencing rental of the Equipment is checked in the Merchant Application, Merchant shall pay the stated license fee on the Equipment on a monthly basis, plus the applicable sales use taxes, beginning the month the Equipment is received by Merchant and continuing until the Equipment is returned by Merchant or this Agreement is terminated or expires. (c) Merchant agrees to be responsible for any damage to the Equipment as a result of misuse or negligence. (d) Merchant agrees to indemnify and hold Servicers harmless from and against any and all liabilities, losses, claims, damages, disputes, offsets, claims or counterclaims of any kind in any way related to the use (or misuse) of the Equipment. This includes any damage to the Equipment resulting from an act of nature, fire, or theft, or from misuse or negligence by Merchant or its agents. Merchant also agrees to pay Agent a shipping/handling charge for each delivery of replacement Equipment, regardless of the reason. Notwithstanding the prior paragraph, if Merchant subscribes to certain level(s) of Agent’s Payments Hub ProgramHub, it will not be responsible for failure of Equipment for any reason, so long as such Equipment is returned to Agent. Under this program, Agent will also provide overnight replacement of the Equipment free of shipping/handling charges, after remote troubleshooting efforts are unsuccessful. Comparable replacement Equipment may be new n ew or refurbished, or a different brand or model. Replacements are limited to two (2) in any consecutive twelve (12) month period.period 5.01 Wireless Services