Common use of Replenishment of Reserve Account Deficiencies Clause in Contracts

Replenishment of Reserve Account Deficiencies. Whenever the balance in the Reserve Account is less than the minimum balance required, or is otherwise deficient, Merchant Bank may, without prior notice, deposit the deficiency into the Reserve Account by reducing any payment to Merchant required by this Agreement or deduct the deficiency from the Settlement Account or any other deposit account of Merchant with another depository institution (including accounts of general partners if Merchant is a partnership) and deposit it into the Reserve Account. Merchant authorizes deductions from its accounts by ACH entry, sight draft, preauthorized check, reverse wire, or otherwise as Provider deems appropriate under the circumstances. In addition, Merchant will deposit any deficiency into the Reserve Account within one (1) Business Day after receiving Provider’s oral or written request. Without limiting Provider’s remedies, Merchant’s failure to deposit any deficiency on time will permit Provider, without advance notice, to suspend or cease processing additional Transactions and Credit Vouchers. Provider will give Merchant written notice of any suspension or cessation of processing.

Replenishment of Reserve Account Deficiencies. Whenever the balance in the Reserve Account is less than the minimum balance required, or is otherwise deficient, Merchant Bank may, without prior notice, deposit the deficiency into the Reserve Account by reducing any payment to Merchant required by this Agreement or deduct the deficiency from the Settlement Account or any other deposit account of Merchant with another depository institution (including accounts of general partners if Merchant is a partnership) and deposit it into the Reserve Account. Merchant authorizes deductions from its accounts by ACH entry, sight draft, preauthorized check, reverse wire, or otherwise as Provider deems appropriate under the circumstances. In addition, Merchant will deposit any deficiency into the Reserve Account within one (1) Business Day after receiving Provider’s oral or written request. Without limiting Provider’s remedies, MerchantXxxxxxxx’s failure to deposit any deficiency on time will permit Provider, without advance notice, to suspend or cease processing additional Transactions and Credit Vouchers. Provider will give Merchant written notice of any suspension or cessation of processing.

Replenishment of Reserve Account Deficiencies. Whenever the balance in the Reserve Account is less than the minimum balance required, or is otherwise deficient, Merchant Bank may, without prior notice, deposit the deficiency into the Reserve Account by reducing any payment to Merchant required by this Agreement or deduct the deficiency from the Settlement Account or any other deposit account of Merchant with another depository institution (including accounts of general partners if Merchant is a partnership) and deposit it into the Reserve Account. Merchant authorizes deductions from its accounts by ACH entry, sight draft, preauthorized check, reverse wire, or otherwise as Provider Bank deems appropriate under the circumstances. In addition, Merchant will deposit any deficiency into the Reserve Account within one (1) Business Day after receiving ProviderBank’s oral or written request. Without limiting ProviderBank’s remedies, Merchant’s failure to deposit any deficiency on time will permit ProviderBank, without advance notice, to suspend or cease processing additional Transactions Charges and Credit Vouchers. Provider Bank will give Merchant written notice of any suspension or cessation of processing.

Replenishment of Reserve Account Deficiencies. Whenever the balance in the Reserve Account is less than the minimum balance required, or is otherwise deficient, Merchant Bank may, without prior notice, deposit the deficiency into the Reserve Account by reducing any payment to Merchant required by this Agreement or deduct the deficiency from the Settlement Account or any other deposit account of Merchant with another depository institution (including accounts of general partners if Merchant is a partnership) and deposit it into the Reserve Account. Merchant authorizes deductions from its accounts by ACH Automated Clearing House (ACH) entry, sight draft, preauthorized check, reverse wire, or otherwise as Provider Bank deems appropriate under the circumstances. In addition, Merchant will deposit any deficiency into the Reserve Account within one (1) Business Day business day after receiving ProviderBank’s oral or written request. Without limiting ProviderBank’s remedies, Merchant’s failure to deposit any deficiency on time will permit ProviderBank, without advance notice, to suspend or cease processing additional Transactions Charges and Credit Vouchers. Provider Bank will give Merchant written notice of any suspension or cessation of processing.

Replenishment of Reserve Account Deficiencies. Whenever the balance in the Reserve Account is less than the minimum balance required, or is otherwise deficient, Merchant Bank may, without prior notice, deposit the deficiency into the Reserve Account by reducing any payment to Merchant required by this Merchant Agreement or deduct the deficiency from the Settlement Account or any other deposit account of Merchant with another depository institution (including accounts of general partners if Merchant is a partnership) and deposit it into the Reserve Account. Merchant authorizes deductions from its accounts by ACH entry, sight draft, preauthorized check, reverse wire, or otherwise as Provider Bank deems appropriate under the circumstances. In addition, Merchant will deposit any deficiency into the Reserve Account within one (1) Business Day after receiving ProviderBank’s oral or written request. Without limiting ProviderBank’s remedies, Merchant’s failure to deposit any deficiency on time will permit ProviderBank, without advance notice, to suspend or cease processing additional Transactions Transaction Receipts and Credit VouchersTransaction Receipts. Provider Bank will give Merchant written notice of any suspension or cessation of processing.

Replenishment of Reserve Account Deficiencies. Whenever the balance in the Reserve Account is less than the minimum balance required, or is otherwise deficient, Merchant Bank may, without prior notice, deposit the deficiency into the Reserve Account by reducing any payment to Merchant required by this Merchant Agreement or deduct the deficiency from the Settlement Account or any other deposit account of Merchant with another depository institution (including accounts of general partners if Merchant is a partnership) and deposit it into the Reserve Account. Merchant authorizes deductions from its accounts by ACH entry, sight draft, preauthorized check, reverse wire, or otherwise as Provider Bank deems appropriate under the circumstances. In addition, Merchant will deposit any deficiency into the Reserve Account within one (1) Business Day after receiving ProviderBank’s oral or written request. Without limiting ProviderBank’s remedies, Merchant’s failure to deposit any deficiency on time will permit ProviderBank, without advance notice, to suspend or cease processing additional Transactions Charges and Credit VouchersTransaction Receipts. Provider Bank will give Merchant written notice of any suspension or cessation of processing.

Replenishment of Reserve Account Deficiencies. Whenever the balance in the Reserve Account is less than the minimum balance required, or is otherwise deficient, Merchant Bank may, without prior notice, deposit the deficiency into the Reserve Account by reducing any payment to Merchant required by this Merchant Agreement or deduct the deficiency from the Settlement Account or any other deposit account of Merchant with another depository institution (including accounts of general partners if Merchant is a partnership) and deposit it into the Reserve Account. Merchant authorizes deductions from its accounts by ACH entry, sight draft, preauthorized check, reverse wire, or otherwise as Provider Bank deems appropriate under the circumstances. In addition, Merchant will deposit any deficiency into the Reserve Account within one (1) Business Day after receiving ProviderBank’s oral or written request. Without limiting ProviderBank’s remedies, MerchantXxxxxxxx’s failure to deposit any deficiency on time will permit ProviderBank, without advance notice, to suspend or cease processing additional Transactions Charges and Credit VouchersTransaction Receipts. Provider Bank will give Merchant written notice of any suspension or cessation of processing.

Replenishment of Reserve Account Deficiencies. Whenever the balance in the Reserve Account is less than the minimum balance required, or is otherwise deficient, Merchant Bank may, without prior notice, deposit the deficiency into the Reserve Account by reducing any payment to Merchant required by this Agreement or deduct the deficiency from the Settlement Account or any other deposit account of Merchant with another depository institution (including accounts of general partners if Merchant is a partnership) and deposit it into the Reserve Account. Merchant authorizes deductions from its accounts by ACH entry, sight draft, preauthorized check, reverse wire, or otherwise as Provider Bank deems appropriate under the circumstances. In addition, Merchant will deposit any deficiency into the Reserve Account within one (1) Business Day after receiving ProviderBank’s oral or written request. Without limiting ProviderBank’s remedies, MerchantXxxxxxxx’s failure to deposit any deficiency on time will permit ProviderBank, without advance notice, to suspend or cease processing additional Transactions Charges and Credit Vouchers. Provider Bank will give Merchant written notice of any suspension or cessation of processing.