UNITED BANK CARD, INC. as Seller - and - OPTIMAL PAYMENTS CORP. as Purchaser RESIDUAL PURCHASE AGREEMENT Dated as of May 6, 2005Residual Purchase Agreement • May 11th, 2005 • Optimal Group Inc • Calculating & accounting machines (no electronic computers) • New Jersey
WHEREAS Seller is party to a marketing agreement dated September 3, 2002, as amended (“Marketing Agreement”) with Credit Card Processing USA, Inc., d/b/a MSI Merchant Services, Inc. (“MSI”), which is an independent sales organization (“ISO”) for Merrick Bank (“Merrick”) located in South Jordan, Utah, pursuant to which Seller acts as a sub-ISO to MSI and is entitled to receive a percentage of the residual payments payable from Merrick to MSI in respect of merchants that are referred to Merrick by Seller;
