Merchant Receivables definition

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Merchant Receivables means all payments made by cash, check, electronic transfer or other form of monetary payment from Marketplace to Merchant in the ordinary course of Merchant’s business for goods or services provided by Merchant to Marketplace customers

Merchant Receivables means the funds owed to you arising from sales through Stripe, Inc.’s payment processing services, as such services are described in the Stripe Services Agreement.

Examples of Merchant Receivables in a sentence

Upon the effective date of the termination of this Agreement, the Merchant shall no longer sell to PayPal and PayPal shall no longer purchase from the Merchant any Merchant Receivables.
This Agreement shall remain in force with respect to Merchant Receivables for which the Merchant has received a Payment Acceptance prior to termination of this Agreement.
If the termination is triggered by a violation of representations or warranties as stipulated in section 7, this Agreement shall only remain in force with respect to Merchant Receivables that have come into existence and for which the applicable conditions precedent for the assignment pursuant to section 4 have been fulfilled prior to the termination of this Agreement.
Under the condition precedent of a PayPal Withdrawal for a specific Merchant Receivable, PayPal hereby assigns all such current and future Merchant Receivables (unless extinguished by operation of law) to the Merchant, and the Merchant hereby accepts this assignment.
Further, the Merchant is obliged to support PayPal in its collection efforts of the Merchant Receivables by providing necessary proof of delivery or other documents supporting the existence, value and validity of the Merchant Receivables as the case may be.
The Merchant shall act on PayPal’s instructions to take such action as is necessary to preserve or enforce PayPal’s and Ratepay’s rights in the Merchant Receivables.
For Merchant Receivables PayPal shall credit the Merchant an amount ("Purchase Price") as set out below: • The Nominal Amount payable by the Customer minus • Fees payable by Merchant according to the Fees Page; PayPal shall not apply a fee for the assignment of Merchant Receivables itself.
The Merchant shall pay Value Added Tax (VAT) to the competent Tax Authority on Merchant Receivables.
After the Termination Date, so long as the Discharge of Sponsor Facility Obligations has not occurred, any Merchant Receivables or proceeds thereof received by the Sponsor shall be applied by the Sponsor to permanently reduce the Sponsor Facility Obligations.
After the Termination Date, so long as the Discharge of Sponsor Facility Obligations has not occurred, any proceeds of Merchant Receivables received by the Bank Group Administrative Agent shall be segregated and held in trust and forthwith transferred or paid over to the Sponsor in the same form as received, together with any necessary endorsements, for application by the Sponsor to the permanent reduction of the Sponsor Facility Obligations.

More Definitions of Merchant Receivables

Merchant Receivables means all accounts (as such term is defined in the UCC), payment intangibles (as such term is defined in the UCC) and other amounts owed to the Borrower by the Merchants arising from or created pursuant to the Merchant Agreements. “Person” shall mean any individual, corporation, company, voluntary association, partnership, joint venture, trust, unincorporated organization or government or any agency, instrumentality or political subdivision thereof, or any other form of entity. “Property” means any interest in any kind of property or asset, whether real, personal or mixed, or tangible or intangible, including, without limitation, cash, securities, accounts and contract rights. “Release” shall have the same meaning as is assigned to such term in Section 3.01. “Secured Parties” shall mean collectively the Sponsor and each of the Bank Group Secured Parties. “Security Documents” shall mean the Sponsor Agreement and the Bank Group Security Documents. “Sponsor” shall mean ▇▇▇▇▇ Fargo Bank, National Association. “Sponsor Agreement” shall have the same meaning as is assigned to such term in the preliminary statement of this Agreement. “Sponsor Facility Obligations” means all principal of and interest on all loans made pursuant to the Sponsor Agreement and all costs, charges, fees, expenses and other amounts 4 payable from time to time pursuant to the Sponsor Loan Documents; provided, however, that in no event shall any principal amount that is in excess of the Maximum Sponsor Facility Indebtedness Amount be deemed to be or constitute all or any portion of the Sponsor Facility Obligations for purposes of this Agreement. “Sponsor Facility Obligations” shall include all interest accrued or accruing in accordance with the rate specified in the Sponsor Agreement but shall exclude (solely for purposes of this Agreement) such interest accrued or accruing with respect to principal amounts in excess of the Maximum Sponsor Facility Indebtedness Amount. “Sponsor Facility Obligations” shall include any interest which accrues on the principal amount of the Sponsor Facility Obligations subsequent to commencement of an Insolvency Proceeding to the extent such interest is an allowed claim under applicable law. To the extent any payment with respect to any Sponsor Facility Obligation is declared to be a fraudulent conveyance or a preference in any respect, set aside or required to be paid to a debtor in possession, trustee, any Bank Group Secured Party, receiver or similar Person,...