Reserve, Hold/Pending and other Protective Actions Sample Clauses

Reserve, Hold/Pending and other Protective Actions. 8.1. We or the Member shall be entitled to withhold and keep as a Reserve, securing performance by the Client of Client’s obligations under this Agreement and the applicable laws and Regulations, a sum equal to the amount of a whole or part of any type of transaction/s and/or a Reserve Percentage, as set in the online account of the Client for the Service and shown to the Client prior to entry into Agreement or in another Commercial Agreement (if applicable). The Reserve percentage is as a percentage of the amount of certain or all types of processed card transactions to be settled to the account. The Reserve percentage in case of use of myPOS Virtual or e-Commerce shall be 10% per default (unless otherwise agreed by the Parties when registering for the Service) from all myPOS Virtual or e-Commerce transactions. The Reserve percentage in case of use of MOTO or pre-authorizations or other risk transactions shall be 10% per default (unless otherwise agreed by the Parties when registering for the Service) from all card transactions to be settled to the account, including transactions of physical POS, virtual POS or e-commerce. The Reserve may be set in the online account of the Merchant for the Service. If the amount of the Reserve is depleted or diminished for some reasons, we shall be entitled to withhold amounts from all types of credit transactions to the account of the Client, to replenish the amount of the Reserve or Hold. The reserved amounts will be reserved by us for a period up to 1 (one) year after authorization of the transaction or a longer period if this is necessary for the protection of our legal interests. All such reserved sums will be displayed in Client online account for the Service as Reserve or Reserved. Such amounts do not represent electronic money and the client may not use, redeem or buy back them until the reserve period elapses and the amounts are credited to the Client’s balance of e- money. The funds will be withheld with operation Withhold Reserve and shall be released with operation Release Reserve. The release of the respective reserved amounts shall be performed once per day or at other time intervals, at the end of the Business day.
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Reserve, Hold/Pending and other Protective Actions. 8.1. We, the Financial Institution or the Member shall be entitled to withhold and keep as a Reserve, securing performance by the Client of Client’s obligations under this Agreement and the applicable laws and Regulations, a sum equal to the amount of a whole or part of any type of transaction/s and/or a Reserve Percentage, as set in the online account of the Client for the Service and shown to the Client prior to entry into Agreement or in another Commercial Agreement (if applicable). All terms and conditions for Reserve, Hold/Pending and other Protective Actions are dealt with in the respective Legal Agreement for myPOS Account and Merchant Agreement.
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