Common use of Establishment and Authority Clause in Contracts

Establishment and Authority. You will establish and maintain with an Automated Clearing House (“ACH”) receiving depository institution acceptable to Member Bank one or more commercial checking account(s) (collectively, the “Merchant Account”) to facilitate payment for Credit Card and PIN-Debit Card transactions. You will maintain sufficient funds in the Merchant Account to accommodate all transactions, including but not limited to fees, fines and chargebacks. You irrevocably authorize Member Bank to debit the Merchant Account for chargebacks in accordance with the Rules and this Agreement, and for fees and any other penalties or payments due under this Agreement related to the Card Organizations. You also irrevocably authorize Member Bank or NPC to debit the Merchant Account for fees and any other penalties or payments due in accordance with this Agreement (other than related to the Card Organizations) and any other agreement between you and NPC or an NPC affiliate. In addition, you authorize NPC and/or Member Bank, as appropriate, to deduct any chargebacks, adjustments, fees, charges, obligations and other amounts you owe NPC and/or Member Bank from any settlements due to you. You also authorize NPC or Member Bank’s vendors or agents to debit the Merchant Account for any fees due such vendor or agent under this Agreement. You must obtain prior written consent from Member Bank and NPC to change the Merchant Account. If you do not obtain consent prior to changing the Merchant Account, NPC or Member Bank may immediately terminate this Agreement and may take other actions necessary to protect them within their discretion, and this Agreement will apply to such new account.

Establishment and Authority. You will establish and maintain with an Automated Clearing House (“ACH”) receiving depository institution acceptable to Member Bank one or more commercial checking account(s) (collectively, the “Merchant Account”) to facilitate payment for Credit Card and PIN-Debit Card transactions. You will maintain sufficient funds in the Merchant Account to accommodate all transactions, including but not limited to fees, fines and chargebacks. You irrevocably authorize Member Bank to debit the Merchant Account for chargebacks in accordance with the Rules and this Agreement, and for fees and any other penalties or payments due under this Agreement related to the Card Organizations. You also irrevocably authorize Member Bank or NPC to debit the Merchant Account for fees and any other penalties or payments due in accordance with this Agreement (other than related to the Card OrganizationsVisa and MasterCard) and any other agreement between you and NPC or an NPC affiliate. In addition, you authorize NPC and/or Member Bank, as appropriate, to deduct any chargebacks, adjustments, fees, charges, obligations and other amounts you owe NPC and/or Member Bank from any settlements due to you. You also authorize NPC or Member Bank’s vendors or agents to debit the Merchant Account for any fees due such vendor or agent under this Agreement. You must obtain prior written consent from Member Bank and NPC to change the Merchant Account. If you do not obtain consent prior to changing the Merchant Account, NPC or Member Bank may immediately terminate this Agreement and may take other actions necessary to protect them within their discretion, and this Agreement will apply to such new account.