Representations and Warranties by Merchant Sample Clauses
Representations and Warranties by Merchant. If Merchant is a corporation or a limited liability company, Merchant warrants, represents, covenants, and agrees that it is duly organized, validly existing and in good standing under the laws of the state of its incorporation or organization and is duly authorized and in good standing to conduct business in the State of Texas, that it has all necessary power and has received all necessary approvals to execute and deliver the Agreement, and the individual executing the Agreement on behalf of Merchant has been duly authorized to act for and bind Merchant.
Representations and Warranties by Merchant. A. MERCHANT unconditionally represents and warrants to BANK that all transactions submitted to BANK hereunder will represent the indebtedness of a Cardholder with whom ▇▇▇▇▇▇▇▇ has completed a sales transaction in amounts set forth therein for products and/or services only, shall not involve any element of credit for any other purposes and shall not be subject to any defense, dispute, offset or counterclaim which may be raised by a cardholder under the Operating Rules of any Payment Networks, or the Consumer Credit Protection Act (15 USC 1601) or other relevant Applicable Laws. Further, MERCHANT warrants that any credit voucher which it issues represents a bona fide refund or adjustment on a card sale by MERCHANT with respect to which a sales draft has been accepted by the BANK. Additionally, MERCHANT represents and covenants that:
(a) all information contained in the MERCHANT Application or any other documents delivered to BANK in connection therewith is true and complete and properly reflects MERCHANT’S business, financial condition and principal partners, owners or officers;
(b) MERCHANT has power to execute, deliver and perform this Agreement, and this Agreement is duly authorized, and will not violate any provisions of law, or conflict with any other agreement to which MERCHANT is subject; (c) MERCHANT holds alllicenses, if any, required to conduct its business and is qualified to do business in every jurisdiction where it is required to do so; (d) there is no action, suit or proceeding at law or in equity now pending or to MERCHANT’S knowledge, threatened by or against or affecting MERCHANT which would substantially impair its right to carry on its business as now conducted or adverselyaffect its financial condition or operations; (e) MERCHANT has performed or will perform all of its obligations to the Cardholder in connection with the card transaction evidenced thereby; and (f) MERCHANT has never been terminated by a payment processor or financial institution for payment processing activities prior to the execution of the Agreement. ▇▇▇▇▇▇▇▇ must notify BANK in writing of any changes to the information in the Application, including but not limited to:
(i) Transfer or sale of any substantial part of its total assets, or the liquidation of MERCHANT;
(ii) Change of the basic nature of its business, including selling any products or services that were not sold at the time the MERCHANT Application was submitted to BANK, or if the MERCHANT begins to engag...
Representations and Warranties by Merchant. A. MERCHANT unconditionally represents and warrants to BANK that all transactions submitted to BANK hereunder will represent the indebtedness of a cardholder with whom MERCHANT has completed a sales transaction in amounts set forth therein for products and/or services only, shall not involve any element of credit for any other purposes and shall not be subject to any defense, dispute, offset or counterclaim which may be raised by a cardholder under the Operating Rules of any Payment Networks, or the Consumer Credit Protection Act (15 USC 1601) or other relevant Applicable Laws. Further, MERCHANT warrants that any credit voucher which it issues represents a bona fide refund or adjustment on a card sale by MERCHANT with respect to which a sales draft has been accepted by the BANK.
Representations and Warranties by Merchant. Merchant has the full power and authority to execute, deliver and perform this Agreement. This Agreement is binding and enforceable against Merchant and no provision requiring Merchant’s performance is in conflict with its obligations under any agreement to which Merchant is a party. Merchant is duly organized, authorized and in good standing under the laws of the state, region or country of its organization and is duly authorized to do business in all other states, regions or countries in which Merchant’s business operates.