Request for Adjustment Procedure Clause Samples
The Request for Adjustment Procedure clause outlines the process by which a party can formally seek changes to the terms, scope, or conditions of an agreement. Typically, this clause specifies the steps required to submit a request, such as providing written notice, detailing the reasons for the adjustment, and including supporting documentation. It may also set timelines for review and response, and identify who within each party is authorized to handle such requests. The core function of this clause is to provide a clear, structured method for addressing unforeseen circumstances or necessary changes, thereby reducing disputes and ensuring both parties have a fair opportunity to negotiate modifications.
Request for Adjustment Procedure a. ▇▇ shall be M▇▇▇▇▇▇▇’s sole responsibility and right to initiate the Adjustment by sending a request for Adjustment to Purchaser.
b. A request for Adjustment (an “Adjustment Request”) shall be in writing, shall include copies of: (i) Merchant’s three (3) consecutive bank statements for the Approved Bank Account or Lockbox Account, as applicable, immediately preceding the date of Purchaser’s receipt of the Adjustment Request; (ii) Merchant’s three (3) consecutive payment card processing statements immediately preceding the date of Purchaser’s receipt of the Adjustment Request; and/or (iii) Merchant’s bank statements and payment card processing statements previously provided by Merchant to Purchaser when applying to sell Future Receipts to Purchaser, or when applying for the most recent Adjustment that was made, if applicable. The Adjustment Request shall be sent by email to Purchaser at c▇▇▇▇▇▇▇.▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ within five (5) Business Days after the date that is the later of the last day for which activity is shown on the latest bank statement enclosed with the Adjustment Request and the last day for which activity is shown on the latest card processing statement enclosed with the Adjustment Request (time being of the essence). Any Adjustment Request received after this deadline will not be honored.
c. Merchant may request Adjustment of the Weekly Delivery Amount as many times as it deems proper, and Purchaser shall comply with such Adjustment Requests, provided that:
i. Each Adjustment Request is made in accordance with the requirements set forth in this Section 12;
i▇. ▇▇ Adjustment Request may be made after Purchaser has received the Completion Amount; and
iii. Unless Purchaser has received the Completion Amount, Purchaser is entitled to continue receiving weekly deliveries whether or not Merchant has made an Adjustment Request. M▇▇▇▇▇▇▇ agrees not to take any action to interfere with weekly deliveries based on the pendency of an Adjustment Request.
Request for Adjustment Procedure a. It shall be Seller’s sole responsibility and the right to initiate the Adjustment by sending a request for Adjustment to Buyer . b. A request for Adjustment (an “Adjustment Request”) shall be in writing, and shall include copies of : (i) Seller’s last three ( 3 ) consecutive bank statements of the Approved Bank Account, the last three ( 3 ) credit card processing statements and the last three ( 3 ) aging reports immediately preceding the date of Buyer’s receipt of the Adjustment Request, and (ii) Seller’s bank statements and credit card processing statements previously provided by Seller to Buyer based upon which statements the amount of the Initial Installment set forth in Section 1 above (or the then current Adjusted Installment as the case may be) was determined, and shall be received by Buyer by email at info@parkavefunding . com , with the subject line “REQUEST FOR ADJUSTMENT,” within five ( 5 ) Workdays after the date that is the later of (i) the last day of the latest bank statement enclosed with the Adjustment Request and (ii) the last date of the latest credit card processing statement enclosed with the Adjustment Request (time being of the essence as to the last day of the period during which an Adjustment Request shall be received by Buyer) .
Request for Adjustment Procedure a. It shall be Seller’s sole responsibility and the right to initiate the Adjustment by sending a request for Adjustment to Buyer.
b. A request for Adjustment (an “Adjustment Request”) shall be in writing, and shall include copies of: (i) Seller’s last three (3) consecutive bank statements of the Approved Bank Account, the last three (3) credit card processing statements and the last three (3) aging reports immediately preceding the date of Buyer’s receipt of the Adjustment Request, and (ii) Seller’s bank statements and credit card processing statements previously provided by Seller to Buyer based upon which statements the amount of the Initial Installment set forth in Section 1 above (or the then current Adjusted Installment as the case may be) was determined, and shall be received by Buyer by email at ▇▇▇▇@▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇, with the subject line “REQUEST FOR ADJUSTMENT,” within five (5) Workdays after the date that is the later of (i) the last day of the latest bank statement enclosed with the Adjustment Request and (ii) the last date of the latest credit card processing statement enclosed with the Adjustment Request (time being of the essence as to the last day of the period during which an Adjustment Request shall be received by Buyer).
c. ▇▇▇▇▇’s receipt of a Seller’s Adjustment Request after the expiration of the above referenced five (5) Workday period nullifies and makes obsolete such Adjustment Request.
d. Seller shall have the right to request Adjustment of the Initial Installment, or the Adjusted Installment (as the case may be), as many times during the term of this Agreement as it deems proper, and Buyer shall comply in good faith with such request, provided that:
i. Each such request for Adjustment is made in accordance with the terms of this Section 13; and
ii. A request for Adjustment shall not be made after the Expiration Date.
e. Nothing set forth in Sections 12 or 13 of this Agreement shall be deemed to provide Seller with the right to (i) interfere with Buyer’s right and ability to debit the Approved Bank Account while the request for Adjustment is pending or until the Purchased Amount is collected by Buyer in full or (ii) request Adjustment retroactively for the portion of the term of this Agreement preceding the date of an Adjustment Request.
Request for Adjustment Procedure a. It shall be Seller’s sole responsibility and the right to initiate the Adjustment by sending a request for Adjustment to Purchaser.
b. A request for Adjustment (an “Adjustment Request”) shall be in writing, shall include copies of: (i) Seller’s three (3)most recent calendar months’ statements of the Approved Bank Account and credit card processing statements immediately preceding the date of Purchaser’s receipt of the Adjustment Request, and (ii) Seller’s bank statements and credit card processing statements previously provided by Seller to Purchaser based upon which statements the amount of Daily Delivery set forth in preamble to this Agreement (or the then current Adjusted Daily Delivery, as the case may be) was determined, and shall be received by Purchaser by email at c▇▇▇▇▇▇▇.▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ . Contract #: 6092355 9 /s/ SAS
c. Seller shall have the right to request Adjustment of the Daily Delivery (or Adjusted Daily Delivery, as the case may be) as many times during the term of this Agreement as it seems proper, and Purchaser shall comply with such request, provided that:
i. Each such request for Adjustment is made in accordance with the terms of this Section 13.
ii. A request for Adjustment shall not be made after the expiration of the term of this Agreement.
d. In order to obtain an Adjustment of the Daily Delivery, the documents provided by Seller to Purchaser shall illustrate a decrease in Seller’s daily receipts.
e. Nothing set forth in Sections 12 or 13 of this Agreement shall be deemed to provide Seller with the right to interfere with Purchaser’s right and ability to debit the Approved Bank Account while the request for Adjustment is pending or until the Sold Amount of Future Receipts is delivered to Purchaser in full.