Excessive Chargebacks. If (i) the aggregate number of Sales Slips subject to Chargeback exceeds 3.0% of the total number of Card Sales submitted by Merchant with respect to an individual Merchant location in any calendar quarter or (ii) the aggregate dollar amount of all Sales Slips subject to Chargeback in any monthly billing cycle exceeds 5% of the total net balances of all Accounts at the end of such monthly billing cycle ((i) and (ii) are herein individually and collectively called "EXCESSIVE CHARGEBACKS"). Excessive Chargebacks shall be deemed a material breach of this Agreement and Household has the right, in its sole discretion, to terminate this Agreement pursuant to SECTION 15. d. The terms and provisions of this Section 6 shall survive the termination of this Agreement.
Appears in 2 contracts
Sources: Merchant Agreement (Direct Focus Inc), Merchant Agreement (Direct Focus Inc)