Common use of Processing Trial Clause in Contracts

Processing Trial. After this Agreement has been signed by both Merchant and Company but prior to Company’s determination as to whether to pay the Purchase Price, Merchant agrees to permit Company to conduct a short processing trial (the “Processing Trial”) to ensure that Merchant’s Electronic Payment transactions are being correctly processed through Processor or to the Account and that the cash attributable to the Specified Percentage of Receivables will be appropriately remitted to Company. Company agrees to make a determination as to whether to purchase the Specified Amount promptly after the commencement of the Processing Trial. If Company elects to purchase the Specified Amount, then all of the cash received by Company in connection with the Processing Trial prior to the payment of the Purchase Price shall be applied to reduce the Specified Amount. Nothing herein shall create an obligation on behalf of Company to purchase any Future Receivables, and Company expressly reserves the right to not purchase the Specified Amount and not pay the Purchase Price to Merchant. If Company decides to not purchase the Specified Amount and not pay the Purchase Price, this Agreement shall have no further effect and Company shall, promptly after receipt from Processor or the Account, return to Merchant any cash received by Company in connection with the Processing Trial.

Processing Trial. After this Agreement has been signed by both Merchant and Company but prior to Company’s determination as to whether to pay the Purchase Price, Merchant agrees to permit Company to instruct Processor and/or Operator to conduct a short processing trial (the “Processing Trial”) to ensure that Merchant’s Electronic Payment Card transactions are being correctly processed through Processor or to the Account and that the cash attributable to the Specified Percentage of Receivables will be appropriately remitted to Company. Company agrees to make a determination as to whether to purchase the Specified Amount of Future Receivables promptly after the commencement of the Processing Trial. If Company elects to purchase the Specified AmountAmount of Future Receivables, then all of the cash received by Company in connection with the Processing Trial prior to the payment of the Purchase Price shall be applied to reduce the Specified Amount. Nothing herein shall create an obligation on behalf of Company to purchase any Future Receivables, and Company expressly reserves the right to not purchase the Specified Amount of Future Receivables and not pay the Purchase Price to Merchant. If Company decides to not purchase the Specified Amount of Future Receivables and not pay the Purchase Price, this Agreement shall have no further effect and Company shall, promptly after receipt from Processor or the AccountOperator, return to Merchant any cash received by Company in connection with the Processing Trial.