Common use of Processor’s Responsibilities Clause in Contracts

Processor’s Responsibilities. A. Processor will initiate payment to Merchant of the amount of each Card sales transaction acquired and accepted hereunder after Processor receives payment for such transaction. Notwithstanding anything herein to the contrary, any such payment shall be subject to the terms and conditions of this Agreement, the Bank Rules, the Operating Regulations, and the Laws. Unless otherwise agreed to in writing by Processor, Merchant shall electronically deliver to Processor, in a format acceptable to Processor, all sales records and credit records within two (2) business days after the transaction date for such record (or such shorter period as required by the Associations or Other Networks), except (i) in the case of a delayed merchandise delivery, when the sales transaction record shall be delivered within two (2) business days of the merchandise delivery or (ii) as specified otherwise in the Bank Rules. Merchant agrees that it shall deliver sales records to Processor at least once every business day. The preparation and delivery to Processor by Merchant of sales records constitutes an endorsement by Merchant to Processor of each sales transaction evidenced thereby, and Merchant authorizes Processor or its representative to place Merchant's endorsement on any such sales transaction at any time. Processor may refuse to acquire any sales transaction or claim the amount of which, in whole or in part, it could charge back to the Merchant pursuant to this Agreement, if it had acquired the sales transaction or claim. Merchant waives notice of dispute related to any individual sales transaction. The Services shall be provided in accordance with Processor's then current systems, standards, and procedures and Processor shall not be required to perform any special programming, to provide any special hardware or software, or to implement any other system, program, or procedure for Merchant.

Processor’s Responsibilities. A. Processor will initiate payment to Merchant of the amount of each Card sales transaction acquired and accepted hereunder after Processor receives payment for such transaction. Notwithstanding anything herein to the contrary, any such payment shall be subject to the terms and conditions of this Agreement, the Bank Rules, the Operating Regulations, and the Laws. Unless otherwise agreed to in writing by Processor, Merchant shall electronically deliver to Processor, in a format acceptable to Processor, all sales records and credit records within two (2) business days after the transaction date for such record (or such shorter period as required by the Associations or Other Networks), except (i) in the case of a delayed merchandise delivery, when the sales transaction record shall be delivered within two (2) business days of the merchandise delivery or (ii) as specified otherwise in the Bank Rules. Merchant Xxxxxxxx agrees that it shall deliver sales records to Processor at least once every business day. The preparation and delivery to Processor by Merchant of sales records constitutes an endorsement by Merchant to Processor of each sales transaction evidenced thereby, and Merchant authorizes Processor or its representative to place MerchantXxxxxxxx's endorsement on any such sales transaction at any time. Processor may refuse to acquire any sales transaction or claim the amount of which, in whole or in part, it could charge back to the Merchant pursuant to this Agreement, if it had acquired the sales transaction or claim. Merchant waives notice of dispute related to any individual sales transaction. The Services shall be provided in accordance with Processor's then current systems, standards, and procedures and Processor shall not be required to perform any special programming, to provide any special hardware or software, or to implement any other system, program, or procedure for Merchant.