Use of ACH Transfer Services Sample Clauses

Use of ACH Transfer Services. In the event (a) Valutec provides ACH Transfer Services to Merchant; and (b) Merchant accepts, permits, or does not object in writing to Valutec’s provision of such services, Merchant subscribes to the ACH Transfer Services, and the Services shall include the ACH Transfer Services. As part of Merchant’s subscription to the ACH Transfer Services, Xxxxxxxx agrees to provide Valutec with its banking and bank account information to facilitate ACH transfers from the bank account of Merchant to the bank account of another Participating Merchant (directly or vis-à-vis a central merchant pooling bank account owned by Xxxxxxxx, a Participating Merchant or another third party) in connection with Gift Card Transactions. In order to protect the Participating Merchants and their customers, Xxxxxxxx agrees that it shall, at all times, have available funds in its bank account(s) to cover all outstanding Gift Card liability (directly or vis-à-vis a central merchant pooling bank account owned by Xxxxxxxx, a Participating Merchant or another third party). Merchant authorizes Valutec to credit or xxxxx Xxxxxxxx’s bank account(s) for all payments on Valutec’s or a Participating Merchant’s behalf and to debit or credit Xxxxxxxx’s bank account(s) for all Gift Card Transactions. If any type of overpayment to Merchant or other error occurs, Xxxxxxxx’s bank account(s) may be debited or credited, without notice, and, if Xxxxxxxx’s bank account(s) do not contain sufficient funds, Xxxxxxxx agrees to immediately fund into such account(s) the amount owed. Xxxxxxxx agrees not to, directly or indirectly, prevent, block or otherwise preclude any debit by Valutec to Merchant’s bank account(s) permitted hereunder. For purposes of this Agreement, the term “bank account” includes a financial account at a bank, a credit union or another financial institution.