Common use of SETTLEMENT FOR PURCHASES Clause in Contracts

SETTLEMENT FOR PURCHASES. Statesman will periodically settle with the Cooperative and each Local Cooperative and Dealership for purchases made from the Cooperative or such Local Cooperative or Dealership, as the case may be, under the Southern States Credit Card Program by periodically crediting to the Cooperative or such Local Cooperative or Dealership, as the case may be, the aggregate amount of such purchases since the last settlement date, net of the applicable merchant's discount as may be agreed to from time to time by the Cooperative or such Local Cooperative or Dealership, as the case may be, and Statesman. All sales under the Southern States Credit Card Program made in accordance with the instructions provided from time to time by Statesman to the Cooperative, the Local Cooperatives and the Dealerships will be without recourse. Statesman may, however, require the Cooperative, a Local Cooperative or a Dealership to reimburse it for certain purchases as may be agreed to from time to time by Statesman and the Cooperative, such Local Cooperative or such Dealership. The parties acknowledge and agree that in the event of any conflict between the terms hereof and any other agreement between the parties or between Statesman and a Local Cooperative or a Dealership with respect to such rights and obligations, the terms of the other agreement shall govern. ARTICLE IIIB ------------ ASSET BASED FINANCING ---------------------

SETTLEMENT FOR PURCHASES. Statesman will periodically ------------------------ settle with the Cooperative and each Local Cooperative and Dealership for purchases made from the Cooperative or such Local Cooperative or Dealership, as the case may be, under the Southern States Credit Card Program by periodically crediting to the Cooperative or such Local Cooperative or Dealership, as the case may be, the aggregate amount of such purchases since the last settlement date, net of the applicable merchant's discount as may be agreed to from time to time by the Cooperative or such Local Cooperative or Dealership, as the case may be, and Statesman. All sales under the Southern States Credit Card Program made in accordance with the instructions provided from time to time by Statesman to the Cooperative, the Local Cooperatives and the Dealerships will be without recourse. Statesman may, however, require the Cooperative, a Local Cooperative or a Dealership to reimburse it for certain purchases as may be agreed to from time to time by Statesman and the Cooperative, such Local Cooperative or such Dealership. The parties acknowledge and agree that in the event of any conflict between the terms hereof and any other agreement between the parties or between Statesman and a Local Cooperative or a Dealership with respect to such rights and obligations, the terms of the other agreement shall govern. ARTICLE IIIB ------------ ASSET BASED FINANCING ---------------------

SETTLEMENT FOR PURCHASES. Statesman will periodically settle with the Cooperative and each Local Cooperative and Dealership for purchases made from the Cooperative or such Local Cooperative or Dealership, as the case may be, under the Southern States Credit Card Program by periodically crediting to the Cooperative or such Local Cooperative or Dealership, as the case may be, the aggregate amount of such purchases since the last settlement date, net of the applicable merchant's discount as may be agreed to from time to time by the Cooperative or such Local Cooperative or Dealership, as the case may be, and Statesman. All sales under the Southern States Credit Card Program made in accordance with the instructions provided from time to time by Statesman to the Cooperative, the Local Cooperatives and the Dealerships will be without recourse. Statesman may, however, require the Cooperative, a Local Cooperative or a Dealership to reimburse it for certain purchases as may be agreed to from time to time by Statesman and the Cooperative, such Local Cooperative or such Dealership. The parties acknowledge and agree that in the event of any conflict between the terms hereof and any other agreement between the parties or between Statesman and a Local Cooperative or a Dealership with respect to such rights and obligations, the terms of the other agreement shall govern. ARTICLE IIIB ------------ ASSET BASED FINANCING ---------------------.