Common use of Settlement Payments Due to Merchant Clause in Contracts

Settlement Payments Due to Merchant. The Merchant acknowledges that the obligation to settle Transactions with the Merchant is an obligation of the relevant Card Issuer or Acquirer or of the Bank. It is not an obligation of PAYMARK. PAYMARK will not be liable to the Merchant in any way for any amount payable to, or receivable by, the Merchant arising out of any Transaction. In addition, the Merchant acknowledges that settlement of Transactions effected using Terminals which have the capability to store Transactions is limited by the circumstances described in clause 4.7.2.

Settlement Payments Due to Merchant. The Merchant acknowledges that the obligation to settle Transactions with the Merchant is an obligation of the relevant Card Issuer or Acquirer or of the Bank. It is not an obligation of PAYMARKWorldline. PAYMARK Worldline will not be liable to the Merchant in any way for any amount payable to, or receivable by, the Merchant arising out of any Transaction. In addition, the Merchant acknowledges that settlement of Transactions effected using Terminals which have the capability to store Transactions is limited by the circumstances described in clause 4.7.24.7(b).