Common use of Reserve Account After Agreement Terminates Clause in Contracts

Reserve Account After Agreement Terminates. Merchant Bank may continue to hold or deposit fundsin the Reserve Account after termination of this Agreement, regardless of whether termination is by Merchant or Provider. Upon termination of the Agreement by Merchant or Provider, Provider may retain sufficient funds to satisfy any and all Processing Fees, Chargebacks, Credit Vouchers, Liquidated Damages, and any and all additional fees, fines, assessments, penalty amounts and charges due the Card Networks. If no funds have been deposited into the Reserve Account before termination, Provider, at Provider’s option, may notify Merchant to deposit funds into the Reserve Account upon termination of this Agreement. All provisions which apply to a pre- termination Reserve Account will apply after termination, including replenishment of deficiencies. The funds will be held by Provider or its designated agent for a period of not less than one hundred eighty (180) days from the date of the last Transaction processed under this Agreement, plus the period of any warranty, guarantee, and/or return policy on goods and/or services sold. Provider will return the balance in the Reserve Account to Merchant after Provider reasonably determines that the risk of Chargebacks and other Processing Fees has ended and after deducting all amounts that Merchant owes to Provider under this Agreement or any other agreement.

Reserve Account After Agreement Terminates. Merchant Bank may continue to hold or deposit fundsin funds in the Reserve Account after termination of this Agreement, regardless of whether termination is by Merchant or ProviderBank. Upon termination of the Agreement by Merchant or ProviderBank, Provider Bank may retain sufficient funds to satisfy any and all Processing Fees, Chargebacks, Credit Vouchers, Liquidated Damages, and any and all additional fees, fines, assessments, penalty amounts and charges due the Card NetworksAssociations. If no funds have been deposited into the Reserve Account before termination, ProviderBank, at ProviderBank’s option, may notify Merchant to deposit funds into the Reserve Account upon termination of this Agreement. All provisions which apply to a pre- pre-termination Reserve Account will apply after termination, including replenishment of deficiencies. The funds will be held by Provider Bank or its designated agent for a period of not less than one hundred eighty (180) days from the date of the last Card Transaction processed under this the Agreement, plus the period of any warranty, guarantee, and/or return policy warranty or guarantee on goods and/or services sold. Provider Bank will return the balance in the Reserve Account to Merchant after Provider Bank reasonably determines that the risk of Chargebacks and other Processing Fees has ended and after deducting all amounts that Merchant owes to Provider Bank under this Agreement or any other agreement.

Reserve Account After Agreement Terminates. Merchant Bank may continue to hold or deposit fundsin funds in the Reserve Account after termination of this Agreement, regardless of whether termination is by Merchant or ProviderBank. Upon termination of the Agreement by Merchant or ProviderBank, Provider Bank may retain sufficient funds to satisfy any and all Processing Fees, Chargebacks, Credit Vouchers, Liquidated Damages, and any and all additional fees, and sums sufficient to reimburse Bank for the amount of any fines, assessments, penalty amounts and charges due the Card Networks. If no funds have been deposited into the Reserve Account before termination, ProviderBank, at ProviderBank’s option, may notify Merchant to deposit funds into the Reserve Account upon termination of this Agreement. All provisions which apply to a pre- pre-termination Reserve Account will apply after termination, including replenishment of deficiencies. The funds will be held by Provider Bank or its designated agent for a period of not less than one two hundred eighty seventy (180270) days from the date of the last Transaction processed under this Agreementactivity on Merchant’s account, plus the period of any warranty, guarantee, and/or return policy on goods and/or services sold. Provider Bank will return the balance in the Reserve Account to Merchant after Provider Bank reasonably determines that the risk of Chargebacks and other Processing Fees has ended and after deducting all amounts that Merchant owes to Provider Bank under this Agreement or any other agreement.

Reserve Account After Agreement Terminates. Merchant Bank may continue to hold or deposit fundsin funds in the Reserve Account after termination of this Agreement, regardless of whether termination is by Merchant or Provider. Upon termination of the Agreement by Merchant or Provider, Provider may retain sufficient funds to satisfy any and all Processing Fees, Chargebacks, Credit Vouchers, Liquidated Damages, and any and all additional fees, fines, assessments, penalty amounts and charges due the Card Networks. If no funds have been deposited into the Reserve Account before termination, Provider, at Provider’s option, may notify Merchant to deposit funds into the Reserve Account upon termination of this Agreement. All provisions which apply to a pre- pre-termination Reserve Account will apply after termination, including replenishment of deficiencies. The funds will be held by Provider or its designated agent for a period of not less than one hundred eighty (180) days from the date of the last Transaction processed under this Agreement, plus the period of any warranty, guarantee, and/or return policy on goods and/or services sold. Provider will return the balance in the Reserve Account to Merchant after Provider reasonably determines that the risk of Chargebacks and other Processing Fees has ended and after deducting all amounts that Merchant owes to Provider under this Agreement or any other agreement.

Reserve Account After Agreement Terminates. Merchant Bank may continue to hold or deposit fundsin funds in the Reserve Account after termination of this Agreement, regardless of whether termination is by Merchant or Provider. Upon termination of the Agreement by Merchant or Provider, Provider may retain sufficient funds to satisfy any and all Processing Fees, Chargebacks, Credit Vouchers, Liquidated Damages, and any and all additional fees, fines, assessments, penalty amounts and charges due the Card Networks. If no funds have been deposited into the Reserve Account before termination, Provider, at Provider’s option, may notify Merchant to deposit funds into the Reserve Account upon termination of this Agreement. All provisions which apply to a pre- termination Reserve Account will apply after termination, including replenishment of deficiencies. The funds will be held by Provider or its designated agent for a period of not less than one hundred eighty (180) days from the date of the last Transaction processed under this Agreement, plus the period of any warranty, guarantee, and/or return policy on goods and/or services sold. Provider will return the balance in the Reserve Account to Merchant after Provider reasonably determines that the risk of Chargebacks and other Processing Fees has ended and after deducting all amounts that Merchant owes to Provider under this Agreement or any other agreement.

Reserve Account After Agreement Terminates. Merchant Bank may continue to hold or deposit fundsin funds in the Reserve Account after termination of this Agreement, regardless of whether termination is by Merchant or ProviderBank. Upon termination of the Agreement by Merchant or ProviderBank, Provider Bank may retain sufficient funds to satisfy any and all Processing Fees, Chargebacks, Credit Vouchers, Liquidated Damages, and any and all additional fees, and sums sufficient to reimburse Bank for the amount of any fines, assessments, penalty amounts and charges due the Card Networks. If no funds have been deposited into the Reserve Account before termination, ProviderBank, at ProviderBank’s option, may notify Merchant to deposit funds into the Reserve Account upon termination of this Agreement. All provisions which apply to a pre- pre-termination Reserve Account will apply after termination, including replenishment of deficiencies. The funds will be held by Provider Bank or its designated agent for a period of not less than one hundred eighty (180) days from the date of the last Card Transaction processed under this the Agreement, plus the period of any warranty, guarantee, and/or return policy on goods and/or services sold. Provider Bank will return the balance in the Reserve Account to Merchant after Provider Bank reasonably determines that the risk of Chargebacks and other Processing Fees has ended and after deducting all amounts that Merchant owes to Provider Bank under this Agreement or any other agreement.

Reserve Account After Agreement Terminates. Merchant Bank may continue to hold or deposit fundsin funds in the Reserve Account after termination of this Agreement, regardless of whether termination is by Merchant or Provider. Upon termination of the Agreement by Merchant or Provider, Provider may retain sufficient funds to satisfy any and all Processing Fees, Chargebacks, Credit Vouchers, Liquidated Damages, and any and all additional fees, fines, assessments, penalty amounts and charges due the Card Networks. If no funds have been deposited into the Reserve Account before termination, Provider, at Provider’s option, may notify Merchant to deposit funds into the Reserve Account upon termination of this Agreement. All provisions which apply to a pre- pre-termination Reserve Account will apply after termination, including replenishment of deficiencies. The funds will be held by Provider or its designated agent for a period of not less than one hundred eighty (180) days from the date of the last Transaction processed under this Agreement, plus the period of any warranty, guarantee, and/or return policy on goods and/or services sold. Provider will return the balance in the Reserve Account to Merchant after Provider reasonably determines that the risk of Chargebacks and other Processing Fees has ended and after deducting all amounts that Merchant owes to Provider under this Agreement or any other agreement.