Credit Card Processors Sample Clauses
The 'Credit Card Processors' clause defines the terms and conditions under which credit card processing services are provided or utilized within an agreement. It typically outlines the responsibilities of each party regarding the selection, use, and fees associated with third-party payment processors, and may specify requirements for compliance with industry standards such as PCI DSS. This clause ensures that both parties understand their obligations and liabilities related to credit card transactions, thereby reducing the risk of disputes and ensuring secure, efficient payment processing.
Credit Card Processors. As of the Effective Date, Schedule 3.21 lists all Credit Card Processors that provide any Loan Party with credit card processing services, and such Schedule correctly identifies the name and address of each Credit Card Processor, and the name in which such services are provided. True and complete copies of each agreement listed on Schedule 3.21 have been delivered to the Administrative Agent, together with all amendments, waivers and other modifications thereto. All such agreements are valid, subsisting, in full force and effect, are currently binding upon each Loan Party that is a party thereto and binding upon the other parties thereto in accordance with their terms. The Loan Parties are in compliance in all material respects under such agreements.
Credit Card Processors. The Lead Borrower will, and will cause its Subsidiaries to (a) comply in all material respects with all obligations of such Person under each credit card processing agreement to which such Person is a party, (b) maintain each credit card processing agreement set forth on Schedule 5.21(b) and each credit card processing agreement entered into after the Closing Date in full force and effect (except to the extent such Person elects to terminate the same in accordance with the terms thereof and so notifies the Lender) and take or cause to be taken all actions necessary to maintain, preserve and protect the rights and interests of the Lender in all material respects with respect to all such agreements, and (c) promptly notify the Lender of the entry by such Person into any credit card processing agreement with any Credit Card Processor or Credit Card Issuer after the Closing Date and deliver to the Lender a copy of the Credit Card Notification delivered to each such Credit Card Processor or Credit Card Issuer contemporaneously with the entry by such Person into such credit processing agreement.
Credit Card Processors. In no event shall any Borrower Party send a notice or provide an instruction to all or any of the Payment Processors to direct, disburse or distribute funds to any account other than the Operating Account.
Credit Card Processors. Set forth on Schedule 5.22 are all of Borrower's credit card clearinghouses or other processors, including, with respect to each clearinghouse or processor (i) the name and address of such clearinghouse or processor, and (ii) the account numbers of the accounts maintained with such clearinghouse or processor.
Credit Card Processors. Each Loan Party will (a) comply in all material respects with all obligations of such Loan Party under each credit card processing agreement to which such Loan Party is a party, (b) maintain each credit card processing agreement set forth on Schedule 3.21 and each credit card processing agreement entered into after the Effective Date in full force and effect (except to the extent such Loan Party elects to terminate the same and so notifies the Administrative Agent) and take or cause to be taken all actions necessary to maintain, preserve and protect the rights and interests of the Administrative Agent in all material respects with respect to all such agreements, and (c) promptly notify the Administrative Agent of the entry by such Loan Party into any credit card processing agreement with any Credit Card Processor after the Effective Date and (subject to Section 5.15(f) with respect to any credit card processing agreement acquired by such Loan Party in connection with the consummation of a Permitted Acquisition) obtain a Processor Control Agreement with respect to each such Credit Card Processor contemporaneously with the entry by such Loan Party into such credit processing agreement.
Credit Card Processors. Schedule 6.01(dd) sets forth a complete list of all Credit Card Processors, which includes any “instant credit” providers and any other arrangements to which any of the Borrowers is a party with respect to the payment to the Borrowers of the proceeds of all credit card charges for sales by the Borrowers.
Credit Card Processors. The Lead Borrower will, and will cause its Subsidiaries to (a) comply in all material respects with all obligations of such Person under each credit card processing agreement to which such Person is a party, (b) maintain each credit card processing agreement set forth on Schedule 5.21(b) and each credit card processing agreement entered into after the Effective Date in full force and effect (except to the extent such Person elects to terminate the same and so notifies the Agent) and take or cause to be taken all actions necessary to maintain, preserve and protect the rights and interests of the Agent in all material respects with respect to all such agreements, and (c) promptly notify the Agent of the entry by such Person into any credit card processing agreement with any Credit Card Processor or Credit Card Issuer after the Effective Date and obtain a Credit Card Agreement with respect to each such Credit Card Processor or Credit Card Issuer contemporaneously with the entry by such Person into such credit processing agreement.
Credit Card Processors. Schedule 15 annexed hereto (as supplemented by the Grantors from time to time in writing to the Secured Party referencing such Schedule), is a true and complete list of all Persons providing credit card processing services to the Borrower or any of its Subsidiaries, including the name and address of, and appropriate contact at, such Person, the name of the Borrower or Subsidiaries to which such services are provided and the merchant account number relating to such services. The representations and warranties as to the information set forth in Schedules referred to herein are made as to each Grantor (other than Additional Grantors) as of the date hereof and as to each Additional Grantor as of the date of the applicable Counterpart, and, in respect of any supplement to any Schedule provided in accordance with this Agreement or notice delivered pursuant to Section 22 hereof, such representations and warranties are made as of the date of such supplement or notice.
Credit Card Processors. The Borrower will, and will cause each of its Subsidiaries that is a Loan Party to (a) comply in all material respects with all obligations of the Borrower or such Subsidiary under each credit or debit card processing agreement to which the Borrower or such Subsidiary is a party, (b) maintain each credit or debit card processing agreement set forth on Schedule 3.18 and each credit or debit card processing agreement entered into after the Effective Date in full force and effect and take or cause to be taken all actions necessary to maintain, preserve and protect the rights and interests of the Administrative Agent in all material respects with respect to all such agreements; provided that the Borrower or any Subsidiary that is a Loan Party may at any time terminate or amend any credit or debit card processing agreement, including any such agreement with Alliance Data Systems or World Financial Network Bank, if the Borrower or such Subsidiary deems such termination or amendment appropriate and provides prompt written notice of such termination or amendment to the Administrative Agent, (c) use commercially reasonable efforts to obtain a Processor Control Agreement/Letter with respect to each Credit Card Processor providing any credit card or debit card processing services for or on behalf of the Borrower or such Subsidiary and listed on Schedule 3.18 (other than those obtained as of the Effective Date and listed on Part A of such Schedule) within 90 days after the Effective Date (provided that in the event that the Borrower or such Subsidiary is unable to obtain any Processor Control Agreement/Letter described in this clause (c) within such 90 day period, then, unless waived by the Administrative Agent, the Borrower or such Subsidiary shall terminate the applicable credit card processing agreement within 30 days after the expiration of such 90 day period) and (d) promptly notify the Administrative Agent of the entry by the Borrower or such Subsidiary into any credit or debit card processing agreement with any Credit Card Processor after the Effective Date and (subject to Section 5.14(d) with respect to any credit card processing agreement acquired by the Borrower or such Subsidiary in connection with the consummation of a Permitted Acquisition) obtain a Processor Control Agreement/Letter with respect to each such Credit Card Processor contemporaneously with the entry by the Borrower or such Subsidiary into such credit or debit card processing agreement.
Credit Card Processors. Each Loan Party will (a) comply in all material respects with all obligations of such Loan Party under each credit card processing agreement to which such Loan Party is a party, (b) maintain each credit card processing agreement set forth on Schedule 3.21 and each credit card processing agreement entered into after the Effective Date in full force and effect (except to the extent such Loan Party elects to terminate the same and so notifies the Administrative Agent) and take or cause to be taken all actions necessary to maintain, preserve and protect the rights and interests of the Administrative Agent in all material respects with respect to all such agreements, (c) use commercially reasonable efforts to obtain a Processor Control Agreement with respect to each Credit Card Processor providing any credit card processing services for or on behalf of such Loan Party and listed on Schedule 3.21 within sixty (60) days after the Effective Date and (d) promptly notify the Administrative Agent of the entry by such Loan Party into any credit card processing agreement with any Credit Card Processor after the Effective Date and (subject to Section 5.15(e) with respect to any credit card processing agreement acquired by such Loan Party in connection with the consummation of a Permitted Acquisition) obtain a Processor Control Agreement with respect to each such Credit Card Processor contemporaneously with the entry by such Loan Party into such credit processing agreement.