Common use of Revocation of Credit Clause in Contracts

Revocation of Credit. Processor or Bank may refuse to accept any Sales Draft or revoke the prior acceptance of a Sales Draft at any time, including without limitation in the following circumstances: (i) the transaction giving rise to the Sales Draft was not made in compliance with all terms and conditions of this Agreement, the Rules, Laws, and/or Operating Regulations; (ii) Bank or Processor receives notification that the Cardholder disputes his or her liability to Merchant for any reason, including, without limitation, those Chargeback rights enumerated in the Operating Regulations; or (iii) the transaction giving rise to the Sales Draft was not directly between You and the Cardholder. You acknowledge and agree that You are not entitled to retain, and will pay Bank and Processor, as appropriate, any amount previously credited to You for a Sales Draft not accepted by Processor or, where such Sales Draft is provisionally accepted, but is subsequently revoked.

Revocation of Credit. Processor or Bank may refuse to accept any Sales Draft or revoke the prior acceptance of a Sales Draft in at any time, including without limitation in least the following circumstances: (i) the transaction giving rise to the Sales Draft was not made in compliance with all terms and conditions of this Agreement, the Rules, Laws, and/or Operating Regulations; (ii) Bank or Processor receives notification that the Cardholder disputes his or her liability to Merchant for any reason, including, without limitation, those Chargeback rights enumerated in the Operating Regulations; or (iii) the transaction giving rise to the Sales Draft was not directly between You and the Cardholder. You acknowledge and agree that You are not entitled to retain, and will pay Bank and Processor, as appropriate, any amount previously credited to You for a Sales Draft not accepted by Processor or, where such Sales Draft is provisionally accepted, but that is subsequently revoked.

Revocation of Credit. Processor or Bank may refuse to accept any Sales Draft or revoke the prior acceptance of a Sales Draft in at any time, including without limitation in least the following circumstances: (ia) the transaction giving rise to the Sales Draft was not made in compliance with all terms and conditions of this Agreement, the Rules, the Laws, and/or the Operating Regulations; (iib) the Bank or Processor receives notification that the Cardholder disputes his or her liability to Merchant for any reason, reason including, without limitationbut not limited to, those Chargeback rights enumerated in the Operating Regulations; or (iiic) the transaction giving rise to the Sales Draft was not directly between You and the Cardholder. You acknowledge and agree that You are not entitled to retain, and will pay Bank and Processor, as appropriate, any amount previously credited to You for a Sales Draft not accepted by Processor or, where such Sales Draft is provisionally accepted, but that is subsequently revoked.