Common use of Resolution and Recovery Clause in Contracts

Resolution and Recovery. This section only applies if you hold a business account with PayPal. You acknowledge and agree that any liability that we may have in connection with your PayPal Account and the PayPal products and services we may provide to you from time to time may be subject to write-down and conversion powers by a competent regulatory authority that supervises us, notwithstanding any term of any other agreement or arrangement between us. This is due to a requirement in a European Union Directive (2014/59/EU) (as transposed into relevant national law) which provides regulatory authorities with such powers to manage the resolution of relevant financial institutions like PayPal. These powers are intended to avoid or reduce the need for governments and taxpayers to bail out relevant failing financial institutions. By your use of your PayPal Account and any PayPal products and services, you acknowledge and agree to be bound by the effect of such write-down and conversion powers, which include (among others) (a) a reduction, in full or in part, of any amounts that may be due by PayPal to you; (b) a conversion of all, or part of, any such liability into shares in PayPal; (c) a cancellation of any such liability; and (d) a variation of any term of our relevant agreement(s) in connection with your PayPal Account and any PayPal products and services with a view to enable the effective exercise of these powers. For example, the money that PayPal owes you may be converted into PayPal shares instead of being paid to you in cash. Pursuant to the EU Regulation (2022/2065) on a Single Market For Digital Services (Digital Services Act), if you generate and upload content on PayPal owned websites or mobile apps (including images, product descriptions, and messages) that violates applicable laws, rights of third parties or this user agreement, PayPal may take appropriate and proportionate measures, including immediately removing such content. You can report other users’ content to PayPal through a dedicated report button, where available, or through our reporting form here. We may (but are not obliged to) use automated means (such as keyword and image filters), human review or a combination of both to detect such content and determine appropriate measures. If you believe that we should not have taken such measures, you may submit a complaint. You can find more information on the complaint process here.

Resolution and Recovery. This section only applies if you hold a business account with PayPal. You acknowledge and agree that any liability that we may have in connection with your PayPal Account and the PayPal products and services we may provide to you from time to time may be subject to write-down and conversion powers by a competent regulatory authority that supervises us, notwithstanding any term of any other agreement or arrangement between us. This is due to a requirement in a European Union Directive (2014/59/EU) (as transposed into relevant national law) which provides regulatory authorities with such powers to manage the resolution of relevant financial institutions like PayPal. These powers are intended to avoid or reduce the need for governments and taxpayers to bail out relevant failing financial institutions. By your use of your PayPal Account and any PayPal products and services, you acknowledge and agree to be bound by the effect of such write-down and conversion powers, which include (among others) (a) a reduction, in full or in part, of any amounts that may be due by PayPal to you; (b) a conversion of all, or part of, any such liability into shares in PayPal; (c) a cancellation of any such liability; and (d) a variation of any term of our relevant agreement(s) in connection with your PayPal Account and any PayPal products and services with a view to enable the effective exercise of these powers. For example, the money that PayPal owes you may be converted into PayPal shares instead of being paid to you in cash. Pursuant This user agreement sets forth the entire understanding between you and us with respect to our service. If any provision of this user agreement is held to be invalid or unenforceable, such provision shall be struck out and the EU Regulation remaining provisions shall be enforced. A person who is not a party to this user agreement has no rights under the Contracts (2022/2065Rights of Third Parties) on a Single Market For Digital Services Xxx 0000 to rely upon or enforce any term of this user agreement (Digital Services Act)except for the third parties falling under the definition of “PayPal” in the Indemnification and Limitation of Liability section above, if you generate and upload content on PayPal owned websites in respect of their rights as specified in this user agreement) but this does not affect any right or mobile apps (including images, product descriptions, and messages) that violates applicable laws, rights remedy of third parties which exists or this user agreement, PayPal may take appropriate and proportionate measures, including immediately removing such content. You can report other users’ content to PayPal through a dedicated report button, where available, or through our reporting form here. We may (but are not obliged to) use automated means (such as keyword and image filters), human review or a combination of both to detect such content and determine appropriate measures. If you believe is available apart from that we should not have taken such measures, you may submit a complaint. You can find more information on the complaint process hereact.

Resolution and Recovery. This section only applies if you hold a business account with PayPal. You acknowledge and agree that any liability that we may have in connection with your PayPal Account and the PayPal products and services we may provide to you from time to time may be subject to write-down and conversion powers by a competent regulatory authority that supervises us, notwithstanding any term of any other agreement or arrangement between us. This is due to a requirement in a European Union Directive (2014/59/EU) (as transposed into relevant national law) which provides regulatory authorities with such powers to manage the resolution of relevant financial institutions like PayPal. These powers are intended to avoid or reduce the need for governments and taxpayers to bail out relevant failing financial institutions. By your use of your PayPal Account and any PayPal products and services, you acknowledge and agree to be bound by the effect of such write-down and conversion powers, which include (among others) (a) a reduction, in full or in part, of any amounts that may be due by PayPal to you; (b) a conversion of all, or part of, any such liability into shares in PayPal; (c) a cancellation of any such liability; and (d) a variation of any term of our relevant agreement(s) in connection with your PayPal Account and any PayPal products and services with a view to enable the effective exercise of these powers. For example, the money that PayPal owes you may be converted into PayPal shares instead of being paid to you in cash. Pursuant This user agreement sets forth the entire understanding between you and us with respect to our service. If any provision of this user agreement is held to be invalid or unenforceable, such provision shall be struck out and the EU Regulation remaining provisions shall be enforced. A person who is not a party to this user agreement has no rights under the Contracts (2022/2065Rights of Third Parties) on a Single Market For Digital Services Act 1999 to rely upon or enforce any term of this user agreement (Digital Services Act)except for the third parties falling under the definition of “PayPal” in the Indemnification and Limitation of Liability section above, if you generate and upload content on PayPal owned websites in respect of their rights as specified in this user agreement) but this does not affect any right or mobile apps (including images, product descriptions, and messages) that violates applicable laws, rights remedy of third parties which exists or this user agreement, PayPal may take appropriate and proportionate measures, including immediately removing such content. You can report other users’ content to PayPal through a dedicated report button, where available, or through our reporting form here. We may (but are not obliged to) use automated means (such as keyword and image filters), human review or a combination of both to detect such content and determine appropriate measures. If you believe is available apart from that we should not have taken such measures, you may submit a complaint. You can find more information on the complaint process hereact.

Resolution and Recovery. This section only applies if you hold a business account with PayPal. You acknowledge and agree that any liability that we may have in connection with your PayPal Account and the PayPal products and services we may provide to you from time to time may be subject to write-down and conversion powers by a competent regulatory authority that supervises us, notwithstanding any term of any other agreement or arrangement between us. This is due to a requirement in a European Union Directive (2014/59/EU) (as transposed into relevant national law) which provides regulatory authorities with such powers to manage the resolution of relevant financial institutions like PayPal. These powers are intended to avoid or reduce the need for governments and taxpayers to bail out relevant failing financial institutions. By your use of your PayPal Account and any PayPal products and services, you acknowledge and agree to be bound by the effect of such write-down and conversion powers, which include (among others) (a) a reduction, in full or in part, of any amounts that may be due by PayPal to you; (b) a conversion of all, or part of, any such liability into shares in PayPal; (c) a cancellation of any such liability; and (d) a variation of any term of our relevant agreement(s) in connection with your PayPal Account and any PayPal products and services with a view to enable the effective exercise of these powers. For example, the money that PayPal owes you may be converted into PayPal shares instead of being paid to you in cash. Pursuant to the EU Regulation (2022/2065) on a Single Market For Digital Services (Digital Services Act), if you generate and upload content on PayPal owned websites or mobile apps (including images, product descriptions, and messages) that violates applicable laws, rights of third parties or this user agreement, PayPal may take appropriate and proportionate measures, including immediately removing such content. You can report other users’ content to PayPal through a dedicated report button, where available, or through our reporting form here. We may (but are not obliged to) use automated means (such as keyword and image filters), human review or a combination of both to detect such content and determine appropriate measures. If you believe that we should not have taken such measures, you may submit a complaint. You can find more information on the complaint process here. This user agreement sets forth the entire understanding between you and us with respect to our service. If any provision of this user agreement is held to be invalid or unenforceable, such provision shall be struck out and the remaining provisions shall be enforced. A person who is not a party to this user agreement has no rights under the Contracts (Rights of Third Parties) Act 1999 to rely upon or enforce any term of this user agreement (except for the third parties falling under the definition of “PayPal” in the Indemnification and Limitation of Liability section above, in respect of their rights as specified in this user agreement) but this does not affect any right or remedy of third parties which exists or is available apart from that act.

Resolution and Recovery. This section only applies if you hold a business account with PayPal. You acknowledge and agree that any liability that we may have in connection with your PayPal Account and the PayPal products and services we may provide to you from time to time may be subject to write-write- down and conversion powers by a competent regulatory authority that supervises us, notwithstanding any term of any other agreement or arrangement between us. This is due to a requirement in a European Union Directive (2014/59/EU) (as transposed into relevant national law) which provides regulatory authorities with such powers to manage the resolution of relevant financial institutions like PayPal. These powers are intended to avoid or reduce the need for governments and taxpayers to bail out relevant failing financial institutions. By your use of your PayPal Account and any PayPal products and services, you acknowledge and agree to be bound by the effect of such write-down and conversion powers, which include (among others) (a) a reduction, in full or in part, of any amounts that may be due by PayPal to you; (b) a conversion of all, or part of, any such liability into shares in PayPal; (c) a cancellation of any such liability; and (d) a variation of any term of our relevant agreement(s) in connection with your PayPal Account and any PayPal products and services with a view to enable the effective exercise of these powers. For example, the money that PayPal owes you may be converted into PayPal shares instead of being paid to you in cash. Pursuant to the EU Regulation (2022/2065) on a Single Market For Digital Services (Digital Services Act), if you generate and upload content on PayPal owned websites or mobile apps (including images, product descriptions, and messages) that violates applicable laws, rights of third parties or this user agreement, PayPal may take appropriate and proportionate measures, including immediately removing such content. You can report other users’ content to PayPal through a dedicated report button, where available, or through our reporting form here. We may (but are not obliged to) use automated means (such as keyword and image filters), human review or a combination of both to detect such content and determine appropriate measures. If you believe that we should not have taken such measures, you may submit a complaint. You can find more information on the complaint process here.

Resolution and Recovery. This section only applies if you hold a business account with PayPal. You acknowledge and agree that any liability that we may have in connection with your PayPal Account and the PayPal products and services we may provide to you from time to time may be subject to write-down and conversion powers by a competent regulatory authority that supervises us, notwithstanding any term of any other agreement or arrangement between us. This is due to a requirement in a European Union Directive (2014/59/EU) (as transposed into relevant national law) which provides regulatory authorities with such powers to manage the resolution of relevant financial institutions like PayPal. These powers are intended to avoid or reduce the need for governments and taxpayers to bail out relevant failing financial institutions. By your use of your PayPal Account and any PayPal products and services, you acknowledge and agree to be bound by the effect of such write-down and conversion powers, which include (among others) (a) a reduction, in full or in part, of any amounts that may be due by PayPal to you; (b) a conversion of all, or part of, any such liability into shares in PayPal; (c) a cancellation of any such liability; and (d) a variation of any term of our relevant agreement(s) in connection with your PayPal Account and any PayPal products and services with a view to enable the effective exercise of these powers. For example, the money that PayPal owes you may be converted into PayPal shares instead of being paid to you in cash. Pursuant to the EU Regulation (2022/2065) on a Single Market For Digital Services (Digital Services Act), if you generate and upload content on PayPal owned websites or mobile apps (including images, product descriptions, and messages) that violates applicable laws, rights of third parties or this user agreement, PayPal may take appropriate and proportionate measures, including immediately removing such content. You can report other users’ content to PayPal LQFOXGLQJ LPPHGLDWHO\ UHPRYLQJ VXFK FRQWHQW through a dedicated report button, where available, or through our reporting form here. We may (but are not obliged to) use automated means (such as keyword and image filters), human review or a combination of both to detect such content and determine appropriate measures. If you believe that we should not have taken such measures, you may submit a complaint. You can find more information on the complaint process here. This user agreement sets forth the entire understanding between you and us with respect to our service. If any provision of this user agreement is held to be invalid or unenforceable, such provision shall be struck out and the remaining provisions shall be enforced. A person who is not a party to this user agreement has no rights under the Contracts (Rights of Third Parties) Act 1999 to rely upon or enforce any term of this user agreement (except for the WKLUG SDUWLHV IDOOLQJ XQInGdHemUni ficWatKionHa ndGLHimIitaLtiQonLofWLRQ RI Liability section above, in respect of their rights as specified in this user agreement) but this does not affect any right or remedy of third parties which exists or is available apart from that act.