Common use of Returned Item Fee Clause in Contracts

Returned Item Fee. To the extent not prohibited by applicable law, Xxxxxxxx agrees to pay Purchaser promptly upon demand a returned item fee of $35 (a “Returned Item Fee”) if an electronic debit is returned unpaid or cannot be processed or a check, draft or similar instrument issued by Merchant or any individual that signs this Agreement is not honored or cannot be processed (either of which is a “Returned Item Event”). Merchant and any individual that signs this Agreement authorize Purchaser to resubmit returned payments in its discretion. At Purchaser’s option, Purchaser will assess this fee any time a payment is not honored or paid, even if it is later honored or paid following resubmission. Any check, draft or similar instrument may be collected electronically if returned for insufficient or uncollected funds. Merchant will be in breach of the covenant set forth in Paragraph 4(viii) of this Agreement if Purchaser imposes at least four

Returned Item Fee. To the extent not prohibited by applicable law, Xxxxxxxx agrees to pay Purchaser promptly upon demand a returned item fee of $35 (a “Returned Item Fee”) if an electronic debit is returned unpaid or cannot be processed or a check, draft or similar instrument issued by Merchant or any individual that signs this Agreement is not honored or cannot be processed (either of which is a “Returned Item Event”). Merchant and any individual that signs this Agreement authorize Purchaser to resubmit returned payments in its discretion. At Purchaser’s option, Purchaser will assess this fee any time a payment is not honored or paid, even if it is later honored or paid following resubmission. Any check, draft or similar instrument may be collected electronically if returned for insufficient or uncollected funds. Merchant will be in breach of the covenant set forth in Paragraph 4(viii5(vii) of this Agreement if Purchaser imposes at least four