Examples of Transponder Issuer in a sentence
If the Transponder Issuer fails to rectify and provide reasonable assurance within such time period, Developer must post notice on the Project website and in a newspaper of broad, general circulation in the Project area announcing to the public that transponders issued by the Transponder Issuer will cease to be recognized on the Project and customers holding such transponders will be subject to Video Transaction Toll Premiums from and after a date stated in the notice.
The Transponder Issuer for the Transponder Transactions must be a Person other than Developer or its Affiliates, and other than the tolling services Contractor (which may include TxDOT).
Developer shall cease to process Transactions by the Transponder Issuer’s customers as Video Transactions, and shall again treat them as Transponder Transactions, at such time, if any, that (i) the Transponder Issuer remits to Developer or its tolling services Contractor in full all tolls due but unpaid for prior Transponder Transactions transmitted to it for payment, and (ii) provides to Developer reasonable assurance of future timely payments.
The loading and unloading of goods, including building materials and equipment, from vehicles must only be carried out on the land.
Developer shall have the right to require, as such reasonable assurance, a direct agreement with the Transponder Issuer providing rights, obligations and remedies regarding financial interoperability and funds transfer on commercial terms and conditions comparable to those enjoyed by other Transponder Issuers having agreements or memoranda of understanding with the Transponder Issuer, and reasonable security.
However, there shall be excluded from such measures of chronic failure any failure, up to a maximum time period of 30 days per incident, of a Transponder Issuer to make remittances due to computer system malfunctions or downtime beyond the Transponder Issuer’s reasonable control, or due to damage or destruction of such computer system or the facilities in which they are located or operated.
The Transponder Issuer must have chronically failed to remit to Developer (or its tolling services Contractor) payments for Transponder Transactions on the Project within the applicable time period provided to the Transponder Issuer under its interoperability protocols, agreements and arrangements with TxDOT or Developer’s tolling services Contractor.
Any Transponder Transaction is rejected due to insufficient funds in the customer’s account, unless Developer resubmits, or (if applicable) causes the Transponder Issuer to resubmit, the Transaction for settlement once per day after the Transaction is transmitted for processing and the account remains insufficient to pay the full toll charge each time of resubmission through the date for mailing a Video Transaction billing statement to the customer on account of the rejected Transponder Transaction.
Developer must deliver to the Transponder Issuer written notice (i) of the provisions of this Section H.5, (ii) that chronic failure to remit payments has occurred and(iii) that Developer intends to cease recognizing Transponder Transactions by the Transponder Issuer’s customers if the Transponder Issuer does not rectify the chronic failure and provide to Developer reasonable assurance, as described in Section H.5.i, of future timely payments within ten Business Days after the date of notice.
If Developer does seek to process or collect through electronic debiting of the customer’s account with the Transponder Issuer, then the Transaction shall be treated as a Transponder Transaction or Video Transaction, as the case may be, in accordance with the Agreement and without regard to this Section H.5.