Common use of Exercise of Chargeback Clause in Contracts

Exercise of Chargeback. If Bank exercises its right of chargeback in accordance with this Agreement, Bank may set-off amounts charged back against any sums due any Retailer or, if there are insufficient Charge Slips included in the Charge Transaction Data to permit the deduction of such chargebacks under Section 5.01 or if no such Charge Transaction Data is transmitted to Bank under Section 5.01, Bank may demand payment from any Retailer for all or any portion of the amount to be charged back.