Common use of Other Types of Transactions Clause in Contracts

Other Types of Transactions. A. D ebit Card Processing Services. You may elect to accept debit cards, and said election should be made by you on the accompanying Merchant Application. If you elect to accept debit cards, the following terms and conditions apply to you. Debit Sponsor shall act as your sponsor with respect to the participation of point–of–sale terminals owned, controlled, and/or operated by you (the “Covered Terminals”) in each of the following debit card networks (“Networks”): Accel, AFFN, Alaska Option, Interlink, Maestro, NYCE, Pulse, Shazam, Star, CU24, and Tyme, which Networks may be changed from time–to–time by Debit Sponsor or Processor without notice. You may also have access to other debit networks that do not require a sponsor. Processor will provide you with the ability to access the Networks at the Covered Terminals for the purpose of authorizing debit card transactions from cards issued by the members of the respective Networks, and Processor will provide connection to such Networks, terminal applications, settlement, and reporting activities (collectively, the “Services”). You will comply with all federal, state, and local laws, rules, regulations and ordinances (“Applicable Laws”) and with all by–laws, regulations, rules, and operating guidelines of the Networks (“Network Rules”). You will execute and deliver any application, participation, or membership agreement or other document necessary to enable Debit Sponsor to act as sponsor for you in each Network, and you shall obtain all consents, approvals, authorizations, or orders of any governmental agency or body required for the execution, delivery, and performance of this Agreement. You agree to utilize the debit card services in accordance with this Agreement, its exhibits or attachments, and Processor’s instructions and specifications, and to provide Processor with the necessary data in the proper format to enable Processor to properly furnish the Services. Copies of the relevant agreements or operating regulations shall be made available to you upon request. You will provide prompt written notice to Processor in the event that you are subject to any of the following: i. Conviction for a felony offense or any other crime involving moral turpitude; ii. Restraining order, decree, injunction, or judgment in any proceeding or lawsuit alleging fraud or deceptive practice on your part; iii. Bankruptcy filing or petition; iv. Federal or state tax lien;