Common use of In-Store Payments Clause in Contracts

In-Store Payments. a. The Companies shall not advertise or otherwise indicate to any persons that Account Holders (or other persons acting on behalf of Account Holders) may make In-Store Payments (as defined in subsection c below) and instead shall advise employees (i) not to accept In-Store Payments and (ii) to direct Account Holders seeking to make such payments to send payments to the payment address contained on the monthly billing statement. Without derogating the restriction in the preceding sentence, if any In-Store Payment is made, the Company receiving such In-Store payment shall give the person making such In-Store Payment a receipt therefor and shall be deemed to hold such In-Store Payment as property of, and in trust for, MWCC until (x) such payment is delivered to MWCC or (y) MWCC is informed of the amount of such payment and applies said amount to reduce amounts payable by MWCC to such Company pursuant to this Agreement. MWCC shall apply amounts of In-Store Payments received by any Company (and of which it is duly informed) to reduce the amounts payable by MWCC to such Company; PROVIDED, that, the Companies will, upon the request of MWCC, thenceforth transmit to MWCC all In-Store Payments within two (2) Business Days of the day received by any Company. b. Within twenty-four (24) hours after the receipt of any In-Store Payment, the Companies shall notify MWCC of such receipt (which notification shall include the amounts of such payments and identification of the Accounts and make reasonable efforts to supply the Invoice number as to which such payments relate) by providing such information with its provision of Charge Transaction Data. An In-Store Payment shall be credited to the Account of the relevant Account Holder as of the date MWCC applies the amount of such payment to reduce amounts payable by MWCC to the Companies (or, if no such application is made, as of the date MWCC receives said In-Store Payment from the Companies). c. For purposes of this provision, "In-Store Payment" means a payment on an Account made by an Account Holder (or any person acting on behalf of an Account Holder) at a Retail Location.

In-Store Payments. a. The Companies (a) Retailer may accept cash payments from Cardholders for amounts due on Accounts (“In-Store Payments”). (b) Notwithstanding the provisions of Section 4.3(a) (In-Store Payments), if any Event of Bankruptcy has occurred with respect to Retailer (and so long as the same has not been dismissed), Retailer shall not advertise promptly comply with any written instruction (a “Store Payment Notice”) received by Retailer from Bank or otherwise indicate any successor to Bank as “Servicer” under the Pooling and Servicing Agreement (Bank or any persons that Account Holders such successor being the “Servicer”) to take either of the following actions (or other persons acting on behalf of Account Holdersas specified in such instruction): (i) may cease accepting In-Store Payments and thereafter inform Cardholders who wish to make In-Store Payments (as defined in subsection c below) and that payment should instead shall advise employees (i) not be sent to accept In-Store Payments and Servicer; or (ii) (A) deposit an amount equal to direct Account Holders seeking to make such payments to send payments to the payment address contained on the monthly billing statement. Without derogating the restriction in the preceding sentence, if any In-Store Payment is made, the Company receiving such In-Store payment shall give the person making such In-Store Payment a receipt therefor and shall be deemed to hold such In-Store Payment as property of, and in trust for, MWCC until (x) such payment is delivered to MWCC or (y) MWCC is informed of the amount of such payment and applies said amount to reduce amounts payable by MWCC to such Company pursuant to this Agreement. MWCC shall apply amounts of all In-Store Payments received by any Company each Store, not later than the Business Day following receipt, into a segregated trust account (and of which it is duly informedthe “Store Account”) established by Retailer for this purpose and, pending such deposit, to reduce the amounts payable by MWCC to such Company; PROVIDED, that, the Companies will, upon the request of MWCC, thenceforth transmit to MWCC hold all In-Store Payments within two in trust for Bank and its assigns, (2B) Business Days of the day received by use commercially reasonable efforts not to permit any Company. b. Within twenty-four (24) hours after the receipt of any amounts or items not constituting In-Store PaymentPayments to be deposited in the Store Account and (C) cause all available funds in each Store Account to be transferred on a daily basis to an account designated in the Store Payment Notice; provided that Retailer need not take the actions specified in clause (i) or clause (ii) if Retailer or any of its Affiliates provides the Servicer or the Trustee under (and as defined in) the Pooling and Servicing Agreement with a letter of credit, the Companies shall notify MWCC of such receipt (which notification shall include the amounts of such payments and identification of the Accounts and make reasonable efforts surety bond or other similar instrument covering collection risk with respect to supply the Invoice number as to which such payments relate) by providing such information with its provision of Charge Transaction Data. An In-Store Payment Payments. (c) Within one (1) day after receiving any payment for an Account, Retailer shall be credited to the Account of the relevant Account Holder as of the date MWCC applies the amount notify Bank of such payment to reduce by electronic data transmission (including payment date, amount, and account number) and Bank shall deduct such amount from any amounts payable by MWCC to due Retailer hereunder unless such amount shall be deposited in the Companies (or, if no such application is made, as of the date MWCC receives said In-Store Payment from the Companies)Account in accordance with Section 4.3(b)(ii) above. c. For purposes of this provision, "In-Store Payment" means a payment on an Account made by an Account Holder (or any person acting on behalf of an Account Holder) at a Retail Location.

In-Store Payments. a. The Companies (a) LESCO shall not advertise make available to Accountholders at all Store Locations the address to be used for payment on Accounts to be made directly to Bank; provided, that except as provided below, during the Term LESCO may accept at any of its Store Locations payments on an Account by the underlying Accountholder or otherwise indicate to any persons that Account Holders (or other persons person acting on behalf of Account Holders) may make Insuch Accountholder. If any such in-Store Payments store payment is made (as defined in subsection c below) and instead shall advise employees (i) not to accept In-Store Payments and (ii) to direct Account Holders seeking to make such payments to send payments to the or LESCO otherwise receives any payment address contained on the monthly billing statement. Without derogating the restriction in the preceding sentencean Account), if any In-Store Payment is made, the Company receiving such In-Store payment LESCO shall give the person making such In-Store Payment Accountholder a receipt therefor therefore and shall be deemed to hold such In-Store Payment payment as property of, and in trust for, MWCC Bank until (x) such payment is delivered to MWCC Bank, or (y) MWCC Bank is informed of the amount of such payment in accordance with Section 6.17(b). If at any time, based upon Bank's good faith interpretation of any law, rule, regulation, guideline or order, Bank determines that, as a result of such law, rule, regulation, guideline or order, LESCO's acceptance of in-store payments is detrimental to the interests of Bank, or if Bank determines that there has been a material deterioration in the financial condition of LESCO, then, at Bank's request, LESCO shall cease accepting in-store payments and applies said amount shall direct Accountholders to reduce amounts payable by MWCC make all payments in respect of Accounts directly to Bank. (b) It is the intention and expectation of Bank and LESCO that notice of each in-store payment or credit slip with respect to any Account shall be transmitted to Bank within 24 hours of each such Company pursuant to this Agreement. MWCC transaction (which notice shall apply amounts of In-Store Payments received by any Company (and of which it is duly informed) to reduce include the amounts payable by MWCC and Accounts as to which such Companytransaction relates); PROVIDEDprovided, thatthat in no case shall any such data transmission occur later than (i) in the case of purchases at Service Centers(R), three (3) days, and (ii) in the Companies willcase of purchases from Stores-On-Wheels(R) or from LESCO's other outside sales force, upon the request of MWCC, thenceforth transmit to MWCC all In-Store Payments within two five (25) Business Days of the day received by any Company. b. Within twenty-four (24) hours days after the receipt of any In-Store Payment, the Companies shall notify MWCC such payment or issuance of such receipt (which notification shall include the amounts of such payments and identification of the Accounts and make reasonable efforts to supply the Invoice number as to which such payments relate) by providing such information with its provision of Charge Transaction Datacredit. An Inin-Store Payment shall store payment will be credited to the Account of the relevant Account Holder as of the date MWCC Bank applies the amount of such payment to reduce amounts payable by MWCC Bank to the Companies LESCO (or, or if no such application is made, as of the date MWCC Bank receives said Insuch in-Store Payment store payment from the CompaniesLESCO). c. For purposes of this provision, "In-Store Payment" means a payment on an Account made by an Account Holder (or any person acting on behalf of an Account Holder) at a Retail Location.

In-Store Payments. a. The Companies parties shall not advertise or otherwise indicate continue to any persons support In-Store Payments. Sears acknowledges and agrees that Account Holders all In-Store payments (or other persons acting on behalf of Account Holders) may make including In-Store Payments (as defined received after the termination of this New Merchant Agreement) are at all times the property of Purchaser, and Sears expressly and irrevocably disclaims and prospectively waives any and all right, title, claim or interest in subsection c below) or to the In-Store Payments at law or in equity, and instead shall advise employees (i) that In-Store payments do not constitute property of Sears for any purpose, including without limitation under section 541 of title 11 of the United States Code. Sears further acknowledges and agrees that Purchaser has the sole and exclusive right to accept receive and retain all In-Store Payments and (ii) to direct Account Holders seeking to make such payments to send payments to the payment address contained pursue collection of all amounts outstanding on the monthly billing statementany Former NR/TY Card Account. Without derogating the restriction in the preceding sentence, if If Sears or its Affiliates shall receive any In-Store Payment is madePayments, the Company receiving such In-Store payment shall give the person making such In-Store Payment a receipt therefor and shall Sears shall, directly or through its Affiliates, be deemed to hold such In-Store Payment as property of, and Payments in trust for, MWCC for Purchaser until (x) such payment is payments are either delivered to MWCC Purchaser or (y) MWCC is informed of the amount of such payment and applies said amount applied to reduce amounts payable by MWCC Purchaser to such Company Sears pursuant to this New Merchant Agreement. MWCC Sears shall apply give or cause to be given to each Person making an In-Store Payment a receipt for such payment. In-Store Payments shall be credited to the Former NR/TY Card Account of the relevant Former NR/TY Card Cardholder as of the date of actual receipt by Sears or its Affiliates. In the event that In-Store Payments received by Sears and its Affiliates and creditable to Purchaser pursuant to this New Merchant Agreement on any Business Day exceed amounts payable by Purchaser to Sears on such Business Day, Sears shall be required to remit such excess to Purchaser no later than two Business Days thereafter or, if earlier, the date on which the Settlement Amounts (as defined in the Merchant Agreement) with respect to sales of Merchandise made on the same day that the In-Store Payment is received are paid to Sears under this New Merchant Agreement. In the event that In-Store Payments paid by check are returned for insufficient funds, Purchaser will promptly reimburse Sears for the amount of any returned checks (to the extent such amount was paid by Sears to Purchaser), any bank or other third party fees associated therewith, and any third party fees incurred by Sears in representing checks for payment; provided, that Sears shall comply with Purchaser’s reasonable instructions regarding the processing of such returned checks. The termination of this New Merchant Agreement shall not affect Sears’ obligations under this New Merchant Agreement with respect to In-Store Payments received after termination of this New Merchant Agreement. For the avoidance of doubt, Sears shall be solely responsible and liable to Purchaser for all In-Store Payments received by any Company (and of which it is duly informed) to reduce the amounts payable by MWCC to Affiliate, Third Party Sears Merchant, or Third Party Non-Sears Merchant, as if such Company; PROVIDED, that, the Companies will, upon the request of MWCC, thenceforth transmit to MWCC all Inin-Store Payments within two (2) Business Days of the day received by any Companyhad been paid directly to Sears. b. Within twenty-four (24) hours after the receipt of any In-Store Payment, the Companies shall notify MWCC of such receipt (which notification shall include the amounts of such payments and identification of the Accounts and make reasonable efforts to supply the Invoice number as to which such payments relate) by providing such information with its provision of Charge Transaction Data. An In-Store Payment shall be credited to the Account of the relevant Account Holder as of the date MWCC applies the amount of such payment to reduce amounts payable by MWCC to the Companies (or, if no such application is made, as of the date MWCC receives said In-Store Payment from the Companies). c. For purposes of this provision, "In-Store Payment" means a payment on an Account made by an Account Holder (or any person acting on behalf of an Account Holder) at a Retail Location.