Common use of Settlement Gains/Losses Clause in Contracts

Settlement Gains/Losses. The parties acknowledge that fluctuations may occur between the currency conversion rates used at the time of authorization and those used at the time of settlement of DCC Transactions by the Card Associations. Such fluctuations will affect the Acquirer Settlement Amount and therefore the amount of Gross FX Margin that may be earned with respect to particular DCC Transactions, which may be higher or lower than the amount anticipated at the time of the Transaction, thus creating either Settlement Gains or Settlement Losses. Because such Settlement Gains and Settlement Losses are a component of the Gross FX Margin, the parties will share such Settlement Gains and Settlement Losses in the same proportion that they share the Net FX Margin unless GPPC elects to pass through any or all of such Settlement Gains and Settlement Losses to the Acquirer Merchant.

Settlement Gains/Losses. The parties acknowledge that fluctuations may occur between the currency conversion rates used at the time of authorization and those used at the time of settlement of DCC Transactions by the Card Associations. Such fluctuations will affect the Acquirer Settlement Amount and therefore the amount of Gross FX Margin that may be earned with respect to particular DCC Transactions, which may be higher or lower than the amount anticipated at the time of the Transaction, thus creating either Settlement Gains or Settlement Losses. Because such Settlement Gains and Settlement Losses are a component of the Gross FX Margin, the parties will share such Settlement Gains and Settlement Losses in the same proportion that they share the Net FX Margin unless GPPC Acquirer elects to pass through any or all of such Settlement Gains and Settlement Losses to the Acquirer Merchant.