Common use of Reserve Amount Clause in Contracts

Reserve Amount. Xxxxxxxx hereby authorizes Givex to instruct to establish and maintain (by itself or by financial institution partner(s)) a reserve amount as to be determined by Givex from time to time, to cover any amount that may become due from Merchant to Givex or Processor, including any expenses or losses, which may result from existing or expected Transaction Cancellations, Customer complaints, and Merchant’s activity through the GivexPay Services and Processing Services (“Reserve”). The Reserve shall be funded by debiting the Merchant Payment Account or any bank account associated with the Merchant Payment Account. Givex may further require Merchant to deposit funds into the Merchant Payment Account in order to fund the Reserve.