Common use of Settlement of Card Transactions Clause in Contracts

Settlement of Card Transactions. 11.1 Servicers will only be required to settle Your Card transactions for Cards as specified herein. Promptly after presentment of Sales Drafts pursuant to Section 10, above, as applicable, Servicers will initiate a transfer via Automated Clearing House Credit of the applicable settlement funds to You. When Servicers receive payment of settlement funds through automated clearing house credit, Servicers will initiate a transfer of such applicable settlement funds through ACH to Your Settlement Account. Settlement by automated clearing house credit will take place according to the schedule indicated in Exhibit A, Section 4.1a. 11.2 All settlements to You for VISA and MasterCard Card transactions will be based upon gross sales, less credits/refunds, adjustments, Chargebacks, amounts payable to third parties pursuant to instructions from You in accordance with Association Rules. 11.3 All credits to Your Settlement Account or other payments to You are provisional and are subject to Servicers' final audit, and Chargebacks. You agree that Servicers may credit Your Settlement Account for any overages, pending Chargebacks, or may offset chargeback amounts from settlement funds due to You. Alternatively, Servicer will invoice You for any deficiency, fine, or fee amounts, net due 30 days after the invoice date or on such earlier date as may be specified. 11.4 Servicers will not be liable for any delays in receipt of funds or errors in debit and credit entries caused by third parties including but not limited to any Association or Your financial institution. In addition to any other remedies available to Servicers under this Exhibit G, You agree that should any of the events set forth in Paragraph 16.1 occur, Servicers may, upon at least 24 hours’ advance written notice, change processing or payment terms to suspend credits or other payments of any and all funds, money and amounts now due or hereafter to become due to You from Servicers pursuant to the terms of this Exhibit G, until Servicers have had reasonable opportunity to investigate and discuss such event with You. In cases of fraud or similar cause, no prior notice shall be required, but Servicers shall notify You in writing within three business days after effectuating a suspension of credits or other payments, which notice shall state Servicers' reason for the belief that such fraud or similar cause exists.

Settlement of Card Transactions. 11.1 Servicers 3.1. We will only be required to settle Your Card transactions for Cards as Card types specified hereinin Customer’s Application. Promptly after presentment of Sales Drafts pursuant to Section 10the Operating Procedures, above, as applicable, Servicers we will initiate a transfer via Automated Clearing House Credit of the applicable settlement funds to YouCustomer. 3.2. When Servicers receive payment of settlement funds through automated clearing house credit, Servicers will initiate a transfer of such applicable settlement funds through ACH Unless otherwise agreed to Your Settlement Account. Settlement by automated clearing house credit will take place according in writing to the schedule indicated in Exhibit Acontrary, Section 4.1a. 11.2 all discount rates are deducted daily. All settlements to You for VISA Visa, Mastercard, Discover and MasterCard American Express Card transactions will be based upon gross salesnet of Credits, less credits/refundsSummary Adjustments, adjustmentsapplicable discount fees when due, ChargebacksChargebacks and any other amounts then due from Customer. We may also set off from any payments otherwise due, any amounts payable owed to third parties pursuant any of our respective Affiliates related to instructions from You in accordance with Association Rulesthis Agreement. 11.3 3.3. All credits to Your Customer’s Settlement Account or other payments to You Customer are provisional and are subject to, among other things, our right to Servicers' deduct fees, our final audit, Chargebacks (including our related losses), fees and Chargebacksfines imposed on us by the Card Organizations as a result of Customer’s acts or omissions. You agree Customer agrees that Servicers we may debit or credit Your Customer’s Settlement Account for any deficiencies, overages, fees and pending ChargebacksChargebacks and any other amounts owed to us or any of our respective Affiliates, or we may offset chargeback deduct such amounts from settlement funds or other amounts due to YouCustomer from us, or our respective Affiliates Customer further agree we can offset any amounts owed to us or our Affiliates related to activity in other accounts maintained in Customer’s name or accounts guaranteed by Customer, any of Customer’s principals, guarantors or authorized signors. Alternatively, Servicer will we may elect to invoice You Customer for any deficiency, fine, or fee such amounts, net due 30 days after the invoice date or on such earlier date as may be specified. 11.4 Servicers 3.4. We will not be liable for any delays in receipt of funds or errors in debit and credit entries caused by third parties including but not limited to Customer or any Association or Your financial institutionother Person. 3.5. In addition to any other remedies available to Servicers us under this Exhibit GAgreement, You agree Customer agrees that should any Event of the events set forth in Paragraph 16.1 Default (see Section 10.4) occur, Servicers we may, upon at least 24 hours’ advance written with notice, change processing or payment terms to suspend credits or other payments of any and all funds, money and amounts now due or hereafter to become due to You from Servicers Customer pursuant to the terms of this Exhibit GAgreement, until Servicers we have had reasonable opportunity to investigate such event. 3.6. Customer acknowledges and discuss such event with You. In cases of fraud or similar cause, no prior notice agrees that transfers to and from the Settlement Account shall be requiredbased on the account number and routing number supplied by Customer. We are not responsible for detecting errors in any Settlement Account information Customer provides, but Servicers shall notify You in writing within three business days after effectuating including the account numbers and routing numbers, even if any of those numbers do not correspond to the actual account or financial institution identified by name. 3.7. This Agreement is a suspension of credits or other payments, which notice shall state Servicers' reason for the belief that such fraud or similar cause exists.contract whereby we are extending financial accommodations to

Settlement of Card Transactions. 11.1 Servicers will only be required to settle Your Card transactions for Cards as specified hereinherein provided that Servicers receive your Card transaction information in the format required by Servicers. Promptly after presentment of Sales Drafts pursuant to Section 10, above, as applicable, Servicers will initiate a transfer via Automated Clearing House Credit of the applicable settlement funds to You. When Servicers receive payment of settlement funds through automated clearing house credit, Servicers will initiate a transfer of such applicable settlement funds through ACH to Your Settlement Account. Settlement by automated clearing house credit will take place according to the schedule indicated in Exhibit A, Section 4.1a4.a.2. 11.2 All settlements to You for VISA and MasterCard Card transactions will be based upon gross sales, less credits/refunds, adjustments, Chargebacks, amounts payable to third parties pursuant to instructions from You in accordance with Association Rules. 11.3 All credits to Your Settlement Account or other payments to You are provisional and are subject to Servicers' final audit, and Chargebacks. You agree that Servicers may credit Your Settlement Account for any overages, pending Chargebacks, or may offset chargeback amounts from settlement funds due to You. Alternatively, Servicer will invoice You for any deficiency, fine, or fee amounts, net due 30 days after the invoice date or on such earlier date as may be specified. 11.4 Servicers will not be liable for any delays in receipt of funds or errors in debit and credit entries caused by third parties including but not limited to any Association or Your financial institution. In addition to any other remedies available to Servicers under this Exhibit Gthe Agreement, You agree that should any of the events set forth in Paragraph 16.1 17.2 occur, Servicers may, upon at least 24 hours’ advance written notice, change processing or payment terms to suspend credits or other payments of any and all funds, money and amounts now due or hereafter to become due to You from Servicers pursuant to the terms of this Exhibit G, until Servicers have had reasonable opportunity to investigate and discuss such event with You. In cases of fraud fraud, suspicious activity or similar cause, no prior notice shall be required, but Servicers shall notify You in writing within three business days after effectuating a suspension of credits or other paymentspayments that have not been released, which notice shall state Servicers' reason for the belief that such fraud fraud, suspicious activity or similar cause exists.

Settlement of Card Transactions. 11.1 Servicers 12.1. SERVICERS will only be required to settle Your CUSTOMER’s Card transactions for Cards as specified herein. Promptly after presentment of Sales Drafts pursuant to Section 1011, above, as applicable, Servicers SERVICERS will initiate a transfer via Automated Clearing House Credit of the applicable settlement funds to YouCUSTOMER. When Servicers SERVICERS receive payment of settlement funds through automated clearing house credit, Servicers SERVICERS will initiate a transfer of such applicable settlement funds through ACH to Your CUSTOMER’s Settlement Account. Settlement Except where conditions are met that provide for funding the next business day, settlement by automated clearing house credit will take place according to the schedule indicated in Exhibit A, Section 4.1asecond banking day after SERVICERS process the applicable Card transactions. 11.2 12.2. All settlements to You CUSTOMER for VISA and MasterCard Card Card, transactions will be based upon gross sales, less credits/refunds, adjustments, applicable interchange, assessments, Chargebacks, amounts payable to third parties pursuant to instructions from You CUSTOMER in accordance with Association the Card Organization Rules, and any other amounts then due from CUSTOMER to SERVICERS under the Contract. Settlement generally occurs within two (2) banking days after SERVICERS process applicable settlement file. 11.3 12.3. All credits to Your CUSTOMER’s Settlement Account or other payments to You CUSTOMER are provisional and are subject to Servicers' to, among other things, SERVICERS’ final audit, and ChargebacksChargebacks imposed by the Card Organizations. You agree CUSTOMER agrees that Servicers SERVICERS may debit or credit Your CUSTOMER’s Settlement Account for any deficiencies, overages, fees and pending Chargebacks, or may offset chargeback deduct such amounts from settlement funds due to YouCUSTOMER. Alternatively, Servicer will SERVICERS may elect to invoice You CUSTOMER for any deficiency, fine, or fee such amounts, net due 30 days after the invoice date or on such earlier date as may be specified. 11.4 Servicers 12.4. SERVICERS will not be liable for any delays in receipt of funds or errors in debit and credit entries caused by third parties including but not limited to delay or error in clearing or processing a transaction through the ACH Network or Federal Reserve system, or delays caused by any Association Card Organization or Your CUSTOMER’s financial institution. In addition to any other remedies available to Servicers SERVICERS under this Exhibit GBankcard Addendum, You agree CUSTOMER agrees that should any of the events set forth in Paragraph 16.1 21.3 occur, Servicers SERVICERS may, upon at least 24 hours’ advance written notice, change processing or payment terms to suspend credits or other payments of any and all funds, money and amounts now due or hereafter to become due to You CUSTOMER from Servicers SERVICERS pursuant to the terms of this Exhibit GBankcard Addendum, until Servicers SERVICERS have had reasonable opportunity to investigate and discuss such event with YouCUSTOMER. In cases of fraud or similar cause, no prior notice shall be required, but Servicers SERVICERS shall notify You CUSTOMER in writing within three (3) business days after effectuating a suspension of credits or other payments, which notice shall state Servicers' SERVICERS’ reason for the belief that such fraud or similar cause exists.

Settlement of Card Transactions. 11.1 Servicers SERVICERS will only be required to settle Your CUSTOMER's Card transactions for Cards as specified hereinin the Schedules. Promptly after presentment of Sales Drafts pursuant to Section 10, above, as applicable, Servicers SERVICERS will initiate a transfer via Automated Clearing House Credit of the applicable settlement funds to You. When Servicers receive payment CUSTOMER after presentment of settlement funds through automated clearing house creditTransaction Records pursuant to Section 10 by wire transfer, Servicers will initiate a ACH transfer or other agreed upon method of such applicable settlement funds through ACH to Your the Settlement Account. Settlement by automated clearing house credit will take place according to wire generally occurs on the schedule indicated in Exhibit A, Section 4.1afollowing banking day after SERVICERS process the applicable Card transactions. 11.2 All settlements to You CUSTOMER for VISA and MasterCard Card transactions will be based upon gross sales, less credits/refundsCredit Transactions, adjustments, applicable discount fees when due, Chargebacks, and any other amounts payable then due from CUSTOMER to third parties pursuant to instructions from You in accordance with Association RulesSERVICERS. 11.3 All credits to Your CUSTOMER's Settlement Account or other payments to You CUSTOMER are provisional and are subject to Servicersto, among other things, SERVICERS' final audit, Chargebacks, fees and Chargebacksfines imposed by the Associations. You agree CUSTOMER agrees that Servicers SERVICERS may debit or credit Your CUSTOMER's Settlement Account for any deficiencies, overages, fees and pending Chargebacks, or may offset chargeback deduct such amounts from settlement funds due to You. Alternatively, Servicer will invoice You for any deficiency, fine, or fee amounts, net due 30 days after the invoice date or on such earlier date as may be specifiedCUSTOMER. 11.4 Servicers SERVICERS will not be liable for any delays in receipt of funds or errors in debit and credit entries caused by third parties including but not limited to any Association or Your CUSTOMER's financial institution. In addition to any other remedies available to Servicers SERVICERS under this Exhibit GAgreement, You agree CUSTOMER agrees that should any of the events set forth in Paragraph 16.1 occur19.3 occur and not be cured within any applicable cure period, Servicers SERVICERS may, upon at least 24 hours’ ' advance written notice, change processing or payment terms to suspend credits or other payments of any and all funds, money and amounts now due or hereafter to become due to You CUSTOMER from Servicers SERVICERS pursuant to the terms of this Exhibit GAgreement, until Servicers SERVICERS have had reasonable opportunity to investigate and discuss such event with YouCUSTOMER. In cases of fraud or similar cause, no prior notice shall be required, but Servicers SERVICERS shall notify You CUSTOMER in writing within three business days after effectuating a suspension of credits or other payments, which notice shall state ServicersSERVICERS' reason for the belief that such fraud or similar cause exists.