Common use of Response Time for an authorization Clause in Contracts

Response Time for an authorization. Generally authorization response time will conform to generally accepted industry standards in the Designated Territory. Typically the authorization response will be received by the Planet Payment Switch within 6 seconds after the authorization request is initiated from the Planet Payment Switch. However, it is not possible to set a fixed service level for response time because many dependency factors are outside of Planet Payment’s control, including the Merchant’s POS device, local telephone service, and the Card Associations’ and Card issuers’ authorization and communications systems. If Acquirer notifies Planet Payment that authorization response times are repeatedly taking longer than is generally accepted in the Designated Territory, Planet Payment will make commercially reasonable efforts to make such modifications and repairs to the Planet Payment Platform, to the extent that the Planet Payment Platform is at fault, in order to try to reduce such authorization response times accordingly at no cost to Acquirer. * Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

Response Time for an authorization. Generally authorization response time will conform to generally accepted industry standards in the Designated Territory. Typically the authorization response will be received by the Planet Payment Switch within 6 seconds after the authorization request is initiated from the Planet Payment Switch. However, it is not possible to set a fixed service level for response time because many dependency factors are outside of Planet Payment’s control, including the Merchant’s POS device, local telephone service, and the Card Associations’ and Card issuers’ authorization and communications systems. If Acquirer notifies Planet Payment that authorization response times are repeatedly taking longer than is generally accepted in the Designated Territory, Planet Payment will make commercially reasonable efforts to make such modifications and repairs to the Planet Payment Platform, to the extent that the Planet Payment Platform is at fault, in order to try to reduce such authorization response times accordingly at no cost to Acquirer. * Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. order to try to reduce such authorization response times accordingly at no cost to Acquirer.