Common use of Relationship to Bank Clause in Contracts

Relationship to Bank. Merchant acknowledges and agrees that Xxxxxxxxx.Xxx acts as Merchant's processor and prepares and submits xXxxxx.Xxx Transactions to a Bank selected by Xxxxxxxxx.Xxx on behalf of Merchant in accordance with Merchant's payment instructions. Xxxxxxxxx.Xxx is only a processor and not a bank or financial institution. Xxxxxxxxx.Xxx shall be considered Merchant’s agent with full power and authority to act on behalf of Merchant solely to process and submit xXxxxx.Xxx Transactions to Bank(s) in accordance with the terms and during the Term of this Agreement.

Relationship to Bank. Merchant acknowledges and agrees that Xxxxxxxxx.Xxx acts as MerchantXxxxxxxx's processor and prepares and submits xXxxxx.Xxx Transactions to a Bank selected by Xxxxxxxxx.Xxx on behalf of Merchant in accordance with MerchantXxxxxxxx's payment instructions. Xxxxxxxxx.Xxx is only a processor and not a bank or financial institution. Xxxxxxxxx.Xxx shall be considered MerchantXxxxxxxx’s agent with full power and authority to act on behalf of Merchant solely to process and submit xXxxxx.Xxx Transactions to Bank(s) in accordance with the terms and during the Term of this Agreement.