Common use of Warranties of Merchant Regarding Card Transactions Clause in Contracts

Warranties of Merchant Regarding Card Transactions. Merchant hereby represents and warrants to Servicers at the time of execution and during the term of this Agreement that: (a) Each Sales Draft presented to Servicers for collection is genuine and is not the result of any fraudulent or illegal transaction and is not being deposited on behalf of any business other than Merchant. Further, Merchant warrants that each Sales Draft is the result of a Card transaction for the bona fide purchase of goods or services by the Cardholder in the total amount stated on the Sales Draft. (b) Merchant has performed or will perform all of its obligations to the Cardholder in connection with the Card transaction evidenced thereby. (c) Merchant has complied with Servicers' procedures accepting Cards, and the Card transaction itself shall not involve any element of credit for any other purposes other than as set forth in this Agreement and shall not be subject to any defense, dispute, offset or counter claim which may be raised by any Cardholder under the Rules, the Consumer Credit Protection Act (15 USC 1601), or other relevant state or federal statutes or regulations. (d) Any Credit Voucher which it issues represents a bona fide refund or adjustment on a Card transaction by Merchant with respect to which a Sales Draft has been accepted and shall be credited to the same Card used in the original Card transaction.

Warranties of Merchant Regarding Card Transactions. Merchant hereby represents and warrants to Servicers at the time of execution and during the term of this Agreement that: (a) Each Sales Draft presented to Servicers for collection is genuine and is not the result of any fraudulent or illegal transaction and is not being deposited on behalf of any business other than Merchant. Further, Merchant warrants that each Sales Draft is the result of a Card transaction for the bona fide purchase of goods or services by the Cardholder in the total amount stated on the Sales Draft. (b) Merchant has performed or will perform all of its obligations to the Cardholder in connection with the Card transaction evidenced thereby. (c) Merchant has complied with Servicers' ’ procedures accepting Cards, and the Card transaction itself shall not involve any element of credit for any other purposes other than as set forth in this Agreement and shall not be subject to any defense, dispute, offset or counter claim which may be raised by any Cardholder under the Rules, the Consumer Credit Protection Act (15 USC 1601), or other relevant state or federal statutes or regulations. (d) Any Credit Voucher which it issues represents a bona fide refund or adjustment on a Card transaction by Merchant with respect to which a Sales Draft has been accepted and shall be credited to the same Card used in the original Card transaction.

Warranties of Merchant Regarding Card Transactions. Merchant hereby represents and warrants to Servicers IMS and Bank at the time of execution and during the term of this Agreement that: (a) Each Sales Draft presented to Servicers IMS’ Bank for collection is genuine and is not the result of any fraudulent or illegal transaction and is not being deposited on behalf of any business other than Merchant. Further, Merchant warrants that each Sales Draft is the result of a Card transaction Transaction for the bona fide purchase of goods or services by the Cardholder in the total amount stated on the Sales Draft. (b) Merchant has performed or will perform all of its obligations to the Cardholder in connection with the Card transaction Transaction evidenced thereby. (c) Merchant has complied with Servicers' IMS and its Bank’s procedures accepting Cards, and the Card transaction Transaction itself shall not involve any element of credit for any other purposes other than as set forth in this Agreement and shall not be subject to any defense, dispute, offset or counter claim which may be raised by any Cardholder under the Rules, the Consumer Credit Protection Act (15 USC 1601), or other relevant state or federal statutes or regulations. (d) Any Credit Voucher which it issues represents a bona fide refund or adjustment on a Card transaction by Merchant with respect to which a Sales Draft has been accepted and shall be credited to the same Card used in the original Card transaction.

Warranties of Merchant Regarding Card Transactions. Merchant hereby represents and warrants to Servicers at the time of execution and during the term of this Agreement that: (a) Each Sales Draft presented to Servicers for collection is genuine and is not the result of any fraudulent or illegal transaction and is not being deposited on behalf of any business other than Merchant. Further, Merchant warrants that each Sales Draft is the result of a Card transaction for the bona fide purchase of goods or services by the Cardholder in the total amount stated on the Sales Draft. (b) Merchant has performed or will perform all of its obligations to the Cardholder in connection with the Card transaction evidenced thereby. (c) Merchant has complied with Servicers' ’ procedures accepting Cards, and the Card transaction itself shall not involve any element of credit for any other purposes other than as set forth in this Agreement and shall not be subject to any defense, dispute, offset or counter claim which may be raised by any Cardholder under the Rules, the Consumer Credit Protection Act (15 USC 1601), or other relevant state or federal statutes or regulations. (d) Any Credit Voucher which it issues represents a bona fide refund or adjustment on a Card transaction by Merchant Xxxxxxxx with respect to which a Sales Draft has been accepted and shall be credited to the same Card used in the original Card transaction.