Common use of PAYMENTS AND SETTLEMENTS Clause in Contracts

PAYMENTS AND SETTLEMENTS. The Headset Solution does not directly facilitate payments for Merchandise sold through Retailer’s Store to Retailer and/or Supplier, and does not otherwise disburse funds on behalf of, or to, Supplier (“Payments”). Supplier must establish a merchant processing account and agree to applicable terms (“Merchant Processing Terms”) with Headset’s financial institution partner (“Bank”) in order to receive payments from Retailers, as the case may be, and therefore to participate in the Headset Solution and the Services. Bank will process payments due to Supplier, from Retailers, in accordance with the Merchant Processing Terms. Headset is not a party to the Merchant Processing Terms or any other agreement between Supplier and Bank. Pursuant to instructions provided to the Bank by Headset, the Bank will, as applicable, either (a) Process purchase transactions on behalf of Suppliers and settle funds directly to the Supplier, less any applicable commission percentages and fees; (b) allocate amounts due and payable to Suppliers in connection with purchase transactions of Supplier Merchandise processed on behalf of the applicable Retailer; or (c) facilitate disbursements on behalf of Retailers to Suppliers for purchase transaction amounts for Supplier Merchandise, less any applicable commission percentages and fees.

PAYMENTS AND SETTLEMENTS. The Headset Solution does not directly facilitate payments for Merchandise sold on consignment through Retailer’s Store to Retailer and/or Supplier, and does not or otherwise disburse funds on behalf of, or to, Supplier Retailer (“Payments”). Supplier Suppliers must establish a merchant processing account and agree to applicable terms (“Merchant Processing Terms”) with Headset’s financial institution partner (“Bank”) in order to receive payments from Retailers, as the case may be, Retailers and therefore to participate in the Headset Solution and the Services. If applicable, Bank will process payments due to Supplier, from Retailers, in accordance with the Merchant Processing Terms. Headset is not a party to the Merchant Processing Terms or any other agreement between Supplier and Bank. Pursuant to instructions provided to the Bank by Headset, the Bank will, as applicable, either (a) Process purchase transactions on behalf of Suppliers and settle funds directly to the Supplier, less any applicable commission percentages and fees; (b) allocate amounts due and payable to Suppliers in connection with purchase transactions of Supplier Merchandise processed on behalf of the applicable Retailer; or (c) facilitate disbursements on behalf of Retailers to Suppliers for purchase transaction amounts for Supplier Merchandise, less any applicable commission percentages and fees.