Common use of Exercise of Chargeback Clause in Contracts

Exercise of Chargeback. If Bank exercises its right of chargeback, Bank shall demand payment from Pier 1 for the full amount of such chargeback. In the event of a chargeback pursuant to this Article VIII, upon payment in full of the related amount by Pier 1, Bank shall immediately assign to Pier 1 or the relevant Retail Merchant, without any representation, warranty or recourse, (i) all right to payments of amounts charged back in connection with such Cardholder charge, and (ii) any security interest granted by Pier 1 under Section 18.1. Bank shall provide reasonable cooperation in any effort by Pier 1 to collect the chargeback amount, including by executing and delivering any document necessary or useful to such collection efforts.