Common use of Recoupment of Chargebacks Clause in Contracts

Recoupment of Chargebacks. In the event of Merchant’s default in payment of Chargebacks, Merchant and Guarantor(s) agree: (i) that all personal bank accounts standing in their names shall be subject to this Agreement and ACH debits; (ii) all ACH debits, whether made against Merchant’s Account or a Guarantor’s personal account, shall bear a commercial account code designation (CCD) for purposes of electronic collection via the ACH system; and (iii) Merchant and Guarantor(s) irrevocably consent to Bank and Company utilizing any means

Recoupment of Chargebacks. In the event of Merchant’s default in payment of Chargebacks, Merchant and Guarantor(s) agree: (i) that all personal bank Bank accounts standing in their names shall be subject to this Agreement and ACH debits; (ii) all ACH debits, whether made against Merchant’s Designated Account or a Guarantor’s personal account, account shall bear a commercial account code designation (CCD) for purposes of electronic collection via the ACH system; and (iii) Merchant and Guarantor(s) irrevocably consent to Bank and Company utilizing any meansand