Common use of Sub-Merchant Authorization and Waiver Clause in Contracts

Sub-Merchant Authorization and Waiver. Sub-Merchant authorizes Fattmerchant to make deposits to or withdrawals from the Operating Account. Fattmerchant will have no signatory or ownership rights in the Operating Account and will have no right to negotiate or assert ownership rights in deposited funds. Sub-Merchant shall be responsible for all Bank charges and Sub-Merchant shall designate employees authorized to make changes to the Operating Account. Any changes proposed to the Operating Account shall be submitted in writing to Fattmerchant and must be approved in writing by Fattmerchant. Should Sub-Merchant modify these terms without following the aforementioned process, Sub-Merchant indemnifies and holds Fattmerchant harmless for any administration and ACH activity initiated by Fattmerchant or its employees. If required by Fattmerchant, or any other financial institution where the Operating Account is maintained, Sub-Merchant agrees to sign any other additional documents to authorize the deposits and withdrawals, including without limitation, ACH Transactions. Sub-Merchant waives any claims for loss or damage arising out of any charges or debits to the Operating Account against any other designated financial institution where the account is maintained.

Sub-Merchant Authorization and Waiver. Sub-Merchant authorizes Fattmerchant Till Payments, Acquirer, or Member Bank to make deposits to or withdrawals from the Operating Account. Fattmerchant Till Payments will have no signatory or ownership rights in the Operating Account and will have no right to negotiate or assert ownership rights in deposited funds. Sub-Merchant shall be responsible for all Bank charges and Sub-Merchant shall designate employees authorized to make changes to the Operating Account. Any changes proposed to the Operating Account shall be submitted in writing to Fattmerchant Till Payments and must be approved in writing by FattmerchantTill Payments. Should Sub-Merchant modify these terms without following the aforementioned process, Sub-Merchant indemnifies and holds Fattmerchant Till Payments harmless for any administration and ACH activity initiated by Fattmerchant Till Payments or its employees. If required by Fattmerchant, Till Payments or any other financial institution where the Operating Account is maintained, Sub-Merchant agrees to sign any other additional documents to authorize the deposits and withdrawals, including without limitation, ACH Transactions. Sub-Merchant waives any claims for loss or damage arising out of any charges or debits to the Operating Account against any other designated financial institution where the account is maintained.