Funded Merchant definition

Funded Merchant means a Referred Merchant who enters a Funding Agreement with a Funding Partner and to whom the Funding Partner makes a Payment during the Term.
View Source
Funded Merchant means a Referred Merchant who enters a Funding Agreement with Fundomate and to whom Fundomate makes a Payment during the Term.
View Source

Examples of Funded Merchant in a sentence

  • During the Amendment Term and for as long as FDMS is performing its obligations under Section 3(b) above, FDMS represents and warrants that AMI’s right to receive any portion of the net settlement amount to be paid by FDMS to a Funded Merchant on any given day is subject to the rights of Customer, the applicable acquiring bank rights, and FDMS, if applicable (collectively, “Service Providers”), under the applicable MPA.

  • Disbursements of funds from the Partner Account to the Partner’s designated bank account shall take place within fourteen (14) days of the Friday of the week in which a Funded Merchant has received the Funding Amount.

  • Partner shall not charge any fees or collect any fees from a Merchant in connection with Partner’s performance of its obligations under this Agreement, Fundomate’s provision of the Services or any Agreement between Fundomate and a Funded Merchant.

  • The Partner shall use its Partner Account to monitor current status reports for each successfully Referred Merchant, Opt-In Merchant and Funded Merchant.

  • Partner shall receive their percentage of the net profits to the Partner Account after Fundomate has disbursed the Funding Amount to the Funded Merchant and the Funded Merchant has remitted a minimum of three (3) payment towards the Payback Amount to Fundomate.

  • Partner acknowledges that the future sales of a Funded Merchant due to a Funding Partner pursuant to a Funding Agreement may be subject to a number of Commission Clawbacks due to a Funding Merchants default or otherwise.

  • AMI has no obligation to pay any commissions or fees to Customer and Customer will seek any Commissions that may be due with respect to any Funded Merchant from FDMS and not from AMI.