Common use of Timely Manner Clause in Contracts

Timely Manner. As a general rule the parties will only bear the exchange rate fluctuation risk for DCC Transactions that are presented to Planet Payment in a timely manner. As a general rule the Acquirer Merchant shall solely bear the amount of any Presentment Losses incurred for DCC Transactions presented to Planet Payment more than 48 hours following the Transaction date and time (or such other time limit as may be agreed to by the parties). The Acquirer Merchant shall be charged (or the Merchant Settlement Amount offset by) such Presentment Losses. Any fee charged to Acquirer Merchants by the Acquirer for such late presentment shall be divided between the parties in the proportions in which they share Net FX Margin. In the absence of such agreement by Acquirer Merchant, such Presentment Losses shall remain a component of the Gross FX Margin, and the parties will therefore share them in the same proportion that they share the Net FX Margin. Because Presentment Gains are a component of the Gross FX Margin, the parties will share any Presentment Gains in the same proportion that they share the Net FX Margin, unless Acquirer elects to have such Presentment Gains passed through to the- Acquirer Merchant, in cases where the Acquirer Merchant -also bears the Presentment Losses. Although Acquirer shall use commercially reasonable efforts to obtain an agreement of the Acquirer Merchant to cover such Presentment Losses and Presentment Gains, nothing herein shall prohibit Acquirer from agreeing not to pass through to the Merchant such Presentment Losses and Presentment Gains, in which event the parties shall share in such Gains and Losses as described in the foregoing sentence.

Timely Manner. As a general rule the parties will only bear the exchange rate fluctuation risk for DCC Transactions that are presented to Planet Payment in a timely manner. As a general rule the Acquirer Merchant shall solely bear the amount of any Presentment Losses incurred for DCC Transactions presented to Planet Payment more than 48 hours following the Transaction date and time (or such other time limit as may be agreed to by the parties). The Acquirer Merchant shall be charged (or the Merchant Settlement Amount offset by) such Presentment Losses. Any fee charged to Acquirer Merchants by the Acquirer for such late presentment shall be divided between the parties in the proportions in which they share the Net FX Margin. In All Presentment Losses for any reason not charged to the absence of such agreement by Acquirer Merchant, such and all Presentment Losses Gains not passed through to the Acquirer Merchant, shall remain a component of the Gross FX Margin, and be shared by the parties will therefore share them in the same proportion that proportions in which they share the Net FX Margin. Because Presentment Gains are a component of the Gross FX Margin, the parties will share any Presentment Gains in the same proportion that they share the Net FX Margin, unless Acquirer elects to have such Presentment Gains passed through to the- Acquirer Merchant, in cases where the Acquirer Merchant -also bears the Presentment Losses. Although Acquirer shall use commercially reasonable efforts to obtain an agreement of the Acquirer Merchant to cover such Presentment Losses and Presentment Gains, nothing herein shall prohibit Acquirer from agreeing not to pass through to the Merchant such Presentment Losses and Presentment Gains, in which event the parties shall share in such Gains and Losses as described in the foregoing sentence.

Timely Manner. As a general rule the parties will only bear the exchange rate fluctuation risk for DCC Transactions that are presented to Planet Payment in a timely manner. As a general rule the Acquirer Merchant shall solely bear the amount of any Presentment Losses incurred for DCC Transactions presented to Planet Payment more than 48 hours following the Transaction date and time (or such other time limit as may be agreed to by the parties). The To the * Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. extent agreed by the Acquirer Merchant in its merchant agreement with Acquirer, the Acquirer Merchant shall be responsible for the amount of such Presentment Losses and the Acquirer Merchant shall be charged (or the Merchant Settlement Amount offset by) such Presentment Losses. Any fee charged to Acquirer Merchants by the Acquirer for such late presentment shall to the extent received by GPPC, be divided between the parties in the proportions in which they share Net FX Margin. In the absence of such agreement by Acquirer Merchant, such Presentment Losses shall remain a component of the Gross FX Margin, and the parties will therefore share them in the same proportion that they share the Net FX Margin. Because Presentment Gains are a component of the Gross FX Margin, the parties will share any Presentment Gains in the same proportion that they share the Net FX Margin, unless Acquirer elects to have such Presentment Gains are passed through to the- the Acquirer Merchant, in cases where the Acquirer Merchant -also also bears the Presentment Losses. Although Acquirer GPPC shall use commercially reasonable efforts to obtain ensure that an agreement of the Acquirer Merchant to cover bear such Presentment Losses and Presentment GainsGains is obtained, nothing herein shall prohibit Acquirer from agreeing not to pass through to the Merchant require such Presentment Losses and Presentment Gains, in which event Gains to be passed through to the parties shall share in such Gains and Losses as described in the foregoing sentenceMerchant.