Reserve and Security Sample Clauses
The 'Reserve and Security' clause establishes the requirement for a party, typically a borrower or tenant, to maintain a financial reserve or provide security to the other party, often a lender or landlord. This may involve setting aside funds in a dedicated account or providing collateral to ensure the fulfillment of contractual obligations, such as payment of rent, loan installments, or covering potential damages. By requiring a reserve or security, the clause protects the interests of the party at risk by ensuring there are resources available to address defaults or unforeseen liabilities, thereby reducing financial risk and enhancing contract enforcement.
Reserve and Security. 6.1. ▇▇▇▇▇▇ may establish a Security in relation to the Merchant for the purpose of providing a source of funds to pay Skrill for any and all, actual and reasonably anticipated claims, losses, cost, penalties and expenses.
6.2. If Skrill elects that the relevant Security shall include the establishment of a Reserve, then: Skrill shall be entitled to prevent the Merchant from withdrawing a sum determined by ▇▇▇▇▇▇ (in its sole discretion) from the Merchant Account. Alternatively, at ▇▇▇▇▇▇' sole discretion, ▇▇▇▇▇▇ may elect for the Security to be a bank guarantee in which case the Merchant shall, upon request, procure a bank guarantee in favour of Skrill by a bank and in a form acceptable to ▇▇▇▇▇▇ and in an amount determined by ▇▇▇▇▇▇. The Security shall remain in place regardless of any termination of this Agreement for as long as there are residual or contingent liabilities of the Merchant to Skrill. The amount of the Reserve (either expressed as an absolute amount or as a percentage of past payments into the Merchant Account) shall be determined by Skrill from time to time in its sole discretion. Where a Reserve has not been established at the commencement date of this Agreement, Skrill shall notify the Merchant of the imposition of a Reserve, its method of calculation, its amount as well as any increase or reduction of the Reserve without undue delay in writing at any time during the term of this Agreement.
Reserve and Security. 6.1. Paysafe may establish a Security in relation to the Merchant for the purpose of providing a source of funds to pay Paysafe for any and all, actual and reasonably anticipated claims, losses, cost, penalties and expenses.
6.2. If Paysafe elects that the relevant Security shall include the establishment of a Reserve, Paysafe shall be entitled to prevent the Merchant from withdrawing a sum determined by Paysafe (in its sole discretion) from the Merchant Account. Alternatively, at Paysafe’s sole discretion, Paysafe may elect for the Security to be a bank guarantee in which case the Merchant shall, upon request, procure a bank guarantee in favour of Paysafe by a bank and in a form acceptable to Paysafe and in an amount determined by Paysafe. The Security shall remain in place regardless of any termination of this Agreement for as long as there are residual or contingent liabilities of the Merchant to Paysafe. The amount of the Reserve (either expressed as an absolute amount or as a percentage of past payments into the Merchant Account) shall be determined by Paysafe from time to time in its sole discretion. Where a Reserve has not been established at the commencement date of this Agreement, Paysafe shall notify the Merchant of the imposition of a Reserve, its method of calculation, its amount as well as any increase or reduction of the Reserve without undue delay in writing at any time during the term of this Agreement.
6.3. Without restricting Paysafe’s discretion under clauses 6.1 and 6.2, Paysafe may take into account, amongst others, the following factors when determining the amount to be secured in a Reserve:
6.3.1. the risk of the Merchant ceasing or transferring its business or a substantial part thereof;
6.3.2. the risk of the Merchant materially altering the nature of its business;
6.3.3. If the Merchant’s business activities carry a higher than normal risk of chargebacks or other reversals of customer payments;
6.3.4. the Merchant’s overall financial standing;
6.3.5. the risk of the Merchant becoming insolvent or otherwise unable to pay debts as they fall due;
6.3.6. where Paysafe receives a disproportionate number of customer complaints, chargebacks or other payment reversals fines, penalties or other liability related to the Merchant Account; or
6.3.7. where Paysafe reasonably believes that the Merchant will not be able to perform its obligations under this Agreement.
Reserve and Security. 6.1. INTECH D.O.O. may establish a Security in relation to the Merchant for the purpose of providing a source of funds to pay INTECH D.O.O. for any and all, actual and reasonably anticipated claims, losses, cost, penalties and expenses.
6.2. If INTECH D.O.O. elects that the relevant Security shall include the establishment of a Reserve, then: INTECH D.O.O. shall be entitled to prevent the Merchant from withdrawing a sum determined by INTECH D.O.O. (in its sole discretion) from the Merchant Account. Alternatively, at INTECH D.O.O. ' sole discretion, INTECH D.O.O. may elect for the Security to be a bank guarantee in which case the Merchant shall, upon request, procure a bank guarantee in favor of INTECH D.O.O. by a bank and in a form acceptable to INTECH D.O.O. and in an amount determined by INTECH D.O.O. . The Security shall remain in place regardless of any termination of this Agreement for as long as there are residual or contingent liabilities of the Merchant to INTECH D.O.O. . The amount of the Reserve (either expressed as an absolute amount or as a percentage of past payments into the Merchant Account) shall be determined by INTECH D.O.O. from time to time in its sole discretion. Where a Reserve has not been established at the commencement date of this Agreement, INTECH D.O.O. shall notify the Merchant of the imposition of a Reserve, its method of calculation, its amount as well as any increase or reduction of the Reserve at any time during the term of this Agreement. Upon conclusion of this Agreement, the Reserve amount to 5% of the assets received to the Merchant Account in the period of 180 days. The Reserve is calculated and withheld by the processing bank and released to INTECH
D. O.O. accounts by the deadline and in the amount, considering the time of payment and any potentially charged costs.
Reserve and Security. 6.1. Pearl may establish a Security in relation to the Merchant for the purpose of providing a source of funds to pay Pearl for any and all, actual and reasonably anticipated claims, losses, cost, penalties and expenses.
6.2. If Pearl elects that the relevant Security shall include the establishment of a Reserve, then: Pearl shall be entitled to prevent the Merchant from withdrawing a sum determined by Pearl (in its sole discretion) from the Merchant Account. Alternatively, at Pearl Systems Zambia Limited' sole discretion, Pearl may elect for the Security to be a bank guarantee in which case the Merchant shall, upon request, procure a bank guarantee in favour of Pearl by a bank and in a form acceptable to Pearl and in an amount determined by Pearl Systems Zambia Limited. The Security shall remain in place regardless of any termination of this Agreement for as long as there are residual or contingent liabilities of the Merchant to Pearl Systems Zambia Limited. The amount of the Reserve (either expressed as an absolute amount or as a percentage of past payments into the Merchant Account) shall be determined by Pearl from time to time in its sole discretion. Where a Reserve has not been established at the commencement date of this Agreement, Pearl shall notify the Merchant of the imposition of a Reserve, its method of calculation, its amount as well as any increase or reduction of the Reserve without undue delay in writing at any time during the term of this Agreement.