Common use of Client acknowledges Clause in Contracts

Client acknowledges. PTC’s requirement that fees due from Client for all Services provided by PTC under the Agreement and in these terms and conditions for the ACH Service shall be collected using a single payment method. Therefore, Client hereby authorizes PTC to debit Client’s Client Receiving Account for all fees due to PTC for the Services provided under the Agreement, including without limitation the ACH Service, in the amount indicated in the applicable invoice. If the balance in Client’s Client Receiving Account is insufficient to cover the amount billed in the invoice, PTC may invoice Client, and Client will promptly pay to PTC the amount shown on such invoice upon receipt of the invoice. If any invoice is not paid when due, Client will pay an additional charge equal to the lesser of 1.5% per month or the maximum rate allowed by law on the unpaid balance. Client shall be responsible to pay any federal, state or local taxes applicable to the ACH Service used by Client exclusive of taxes based on the net income of PTC. Any renewal of Client ACH Service is subject to PTC’s then-current terms and conditions, including, but not limited to, successful completion of any applicable authentication procedure, and payment of all applicable service fees at the time of renewal. Client is solely responsible for the credit card or Automated Clearinghouse (“ACH”) account information it provides to PTC and must promptly inform PTC of any changes thereto (e.g., change of expiration date or account number). All payments shall be made in U.S. dollars. If PTC does issue a refund, it will only be via the same payment method used by Client to pay for the Services. All fees owed by Client to third parties (for example, Financial Institutions, Financial Processors and client account providers), are Client’s sole responsibility and are not covered by this Agreement.