Common use of Requalification Clause in Contracts

Requalification. PROCESSOR may withhold settlement funds in the event CUSTOMER's processing activity and/or credit profile is no longer consistent with the information which was provided to PROCESSOR at the time PROCESSOR approved CUSTOMER to receive its services. In such event, in addition to any other remedies under this Agreement, PROCESSOR may establish or increase a Reserve Account (as hereinafter defined) pursuant to the terms of this Agreement until PROCESSOR has either re‐qualified CUSTOMER based upon its then present processing and credit profile, or until PROCESSOR determines in its sole discretion that the increased risk associated with providing the services to CUSTOMER no longer exists. PROCESSOR may charge CUSTOMER a reasonable fee for such a re‐qualification of their processing and credit profile.