Common use of Exercise of Chargeback Clause in Contracts

Exercise of Chargeback. Bank shall provide to Retailer a reasonably detailed explanation of the basis of chargebacks from time to time during each month. Retailer shall pay Bank in respect of charged back amounts monthly. Upon receipt of such amount, Bank shall assign, without recourse, all right to payment for such Charge Slip or portion thereof to Retailer.

Exercise of Chargeback. Bank shall provide to Retailer a reasonably detailed explanation of the basis of chargebacks from time to time during each month. Retailer shall pay Bank in respect of charged back amounts monthlymonthly in accordance with Section 6.3 (Service Fee Payment). Upon receipt of such amount, Bank shall assign, without recourse, all right to payment for such Charge Slip or portion thereof to Retailer.