Common use of Termination/Requalification Clause in Contracts

Termination/Requalification. In the event CUSTOMER’s processing activity and/or credit profile differs materially or is no longer substantially consistent with the information provided to PROCESSOR at the time PROCESSOR approved CUSTOMER to receive its services, in addition to any other remedies under this Agreement, PROCESSOR may (1) terminate this Agreement and suspend processing for CUSTOMER, or (2) withhold settlement funds, and establish or increase a Reserve Account (as hereinafter defined) pursuant to the terms of this Agreement until PROCESSOR has either re-qualified CUSTOMER based upon its then present processing and credit profile, or until PROCESSOR determines, in its sole discretion, that the increased risk associated with providing the services to CUSTOMER no longer exists. PROCESSOR may charge CUSTOMER a reasonable fee for such requalification of their processing and credit profile.