Common use of Terminated Merchant File Clause in Contracts

Terminated Merchant File. Merchant acknowledge that Processor is required to report Merchant’s business name and the name of Merchant’s principals to the Associations, including the MATCH (Membership Alert to control High Risk Merchants) System, the Discover Network Consortium Negative File and other security/credit alert systems, when Merchant is terminated due to the reasons listed in the Operating Regulations, which include, but are not limited to violation of the Operating Regulations, breach of this Agreement, and Fraudulent Transactions. Merchant expressly agrees and consents to such reporting and will waive, indemnify and hold harmless Processor for all claims and liabilities Merchant may raise as a result of such reporting.

Terminated Merchant File. Merchant acknowledge that Processor is required to report MerchantXxxxxxxx’s business name and the name of MerchantXxxxxxxx’s principals to the Associations, including the MATCH (Membership Alert to control High Risk Merchants) System, the Discover Network Consortium Negative File and other security/credit alert systems, when Merchant is terminated due to the reasons listed in the Operating Regulations, which include, but are not limited to violation of the Operating Regulations, breach of this Agreement, and Fraudulent Transactions. Merchant Xxxxxxxx expressly agrees and consents to such reporting and will waive, indemnify and hold harmless Processor for all claims and liabilities Merchant may raise as a result of such reporting.