Fees and Discontinued Use of Equipment Sample Clauses
The "Fees and Discontinued Use of Equipment" clause defines the obligations regarding payment of fees when equipment provided under an agreement is no longer in use. Typically, this clause specifies whether fees continue to accrue if the customer stops using the equipment before the end of the contract term, and may outline any conditions for fee reduction, waiver, or continued payment. Its core function is to clarify financial responsibilities in situations where equipment is returned, decommissioned, or otherwise taken out of service, thereby preventing disputes over ongoing charges and ensuring both parties understand their obligations.
Fees and Discontinued Use of Equipment. ▇▇▇▇▇▇▇▇ agrees to pay the lease, rental, and other fees and costs set forth in the Application or any order form or amendment or addendum to the Agreement, from the date on which the Equipment is provided to Merchant and continuing thereafter as provided in this Agreement. Furthermore, for any Equipment provided to Merchant not included in the Application, order form, amendment, or addendum, ▇▇▇▇▇▇▇▇ agrees to pay the suggested retail price or Processor’s standard list price for the Equipment as invoiced to Merchant by Processor. If Processor provides Merchant Equipment at no cost, or Merchant rents or leases Equipment from Processor, within fourteen (14) calendar days from the earlier of: (i) the end of the lease or rental term; (ii) upon such time that Merchant discontinues transmitting customer transactions through the Equipment to Processor for a period of thirty (30) calendar days; or (iii) Merchant has not submitted a transaction to Processor within thirty (30) calendar days of the date Processor provides Merchant the Equipment, ▇▇▇▇▇▇▇▇ agrees to, either: (a) return the Equipment to Processor at Merchant’s sole cost and expense, if so instructed by Processor; or (b) otherwise pay the equipment non-return/non-use fee of up to $999.00 per device unless expressly otherwise agreed in writing. In the event Merchant discontinues transmitting customer transactions through the Equipment to Processor for a period of thirty (30) calendar days within the initial term of the lease or rental, Merchant agrees that the monthly lease or rental fee set forth in the Application shall apply for the remainder of such initial term which monthly lease or rental fee will be accelerated and immediately charged to Merchant.
Fees and Discontinued Use of Equipment. You agree to pay the lease, rental, and other fees and costs set forth in the Application or any order form or amendment or addendum to the Agreement, from the date on which the Equipment is provided to you and continuing thereafter as provided in this Agreement. Furthermore, for any Equipment provided to you not included in the Application, order form, amendment, or addendum, you agree to pay the suggested retail price or our standard list price for the Equipment as invoiced to you by us. If we provide you Equipment at no cost, or you rent or lease Equipment from us, within 14 calendar days from the earlier of: (i) the end of the lease or rental term; (ii) upon such time that you discontinue transmitting customer transactions through the Equipment to us for a period of 30 calendar days; or (iii) you have not submitted a transaction to us within 30 calendar days of the date we provide you the Equipment, you agree to, either: (a) return the Equipment to us at your sole cost and expense, if so instructed by us; or (b) otherwise pay the equipment non-return/non- use fee of up to $999.00 per device unless expressly otherwise agreed in writing. In the event you discontinue transmitting customer transactions through the Equipment to us for a period of 30 calendar days within the initial term of the lease or rental, you agree that the monthly lease or rental fee set forth in the Application shall apply for the remainder of such initial term which monthly lease or rental fee will be accelerated and immediately charged to you.