Submitting Transactions Clause Samples

Submitting Transactions. The Company is responsible for: (a) properly transmitting the transaction data (including all transaction detail required by the Networks) to First Data’s systems using the format and specifications provided by First Data (the Company will maintain and update the systems that it uses to accommodate changing Network requirements and industry requirements as specified by First Data); (b) all payment transactions submitted for processing under its merchant identification numbers (MIDs), including, without limitation, all returns, refunds, or chargebacks, whether charged back by Cardholders or Card issuers; (c) preventing its employees and others from submitting returns or refunds that do not reflect valid returns or refunds corresponding to prior transactions; and (d) retaining transaction records according to the timelines required by the Network Rules, Industry Regulations or applicable Laws.
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Submitting Transactions. 3.1. You must comply with the System Instructions including any Certification and Test Bed Processes, and any appropriate Policy in force at the relevant time, including for the avoidance of doubt the Acceptable Use Policies, and the System Instructions. (These Policies and System Instructions will change over time as our systems develop and you must regularly check which are the most recent versions and comply with them). 3.2. You must not request a Transaction if any of the following apply or you have reason to believe that they apply: 3.2.1. you know, or reasonably should know, that some or all of the information provided by or through you to us is false, deceptive, misleading, inaccurate or incomplete; 3.2.2. some or all of the Registrant identity information does not meet the requirements of the System Instructions; 3.2.3. the Registrant you identify to us in the Transaction has not instructed or requested you (directly or indirectly) to act on its behalf or does not exist; 3.2.4. the System Instructions or Policies prohibit making that Transaction on behalf of the Registrant; 3.2.5. you no longer have authority to Transact with us on behalf of the Registrant; 3.2.6. the service requested is one for which we require Registrants to enter into terms and conditions with us (e.g. the registration or renewal of a domain name) and you have not received positive confirmation that they are aware of, and accept in full, the current terms and conditions we offer for that service or Transaction at the date of the request for it; 3.2.7. your Tag Classification or contract status (e.g. you are in Special Status) does not entitle you to submit such a Transaction; or 3.2.8. you are aware that the Transaction is criminal in nature or is likely to further criminal activity. 3.3. Unless clauses 2.3 (limits on your authority) or 3.2 (Transactions you must not request) apply or the System Instructions require otherwise: you must request the relevant Transaction (as set out in the System Instructions) promptly if: 3.3.1. the Service Level Requirements mandate it; 3.3.2. Your Customer provides you with a name or contact information which is different from those recorded on the Register, whether or not Your Customer asks you to update the Register; 3.3.3. you are aware that there is duplicate information on the Register in relation to Your Customer that can be amalgamated or improved; or 3.3.4. we inform you that the Transaction is required (for example, we tell you that th...
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Submitting Transactions. 4.1. Each Transaction. Each transaction submitted for processing must include a Sales Draft or Credit Draft and a receipt or copy of the Draft that is provided to the Cardholder at the time the Card transaction is completed. Failure to provide this documentation may result in fines or termination of this Agreement.
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Submitting Transactions. You will only submit Transactions for processing that meet the following requirements; i. the Transaction represents a genuine sale of your goods or services to the customer; ii. the Transaction is not materially different than the transactions described in your application for services; iii. the Transaction complies with all requirements of the applicable Network Rules, applicable Laws, and all other requirements of this Agreement; iv. the Transaction is not a duplicate of any other Transaction; v. the Transaction is authorized by the customer for the amount of the transaction in satisfaction of the customer’s obligations to you; vi. the Transaction is in payment of goods or services provided simultaneously with the payment transaction (except for delayed delivery, advance deposit, or other partial transactions specifically allowed under the Network Rules and authorized by us in writing); vii. the Transaction is not a refinancing of an existing obligation; viii. the Transaction is valid, collectible, and is not subject to any dispute, setoff, or counterclaim; and ix. in the case of a refund, the Transaction is submitted to reimburse the customer for a sale transaction that was previously submitted.
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Submitting Transactions. The Company is responsible for: 2.9.1 properly transmitting the transaction data (including all transaction detail required by the Networks) to First Data’s systems using the format and specifications provided by First Data (the Company will maintain and update the systems that it uses to accommodate changing Network requirements as specified by First Data); 2.9.2 all payment transactions submitted for processing under its merchant identification numbers (MIDs), including, without limitation, all returns, refunds, or chargebacks, whether charged back by Cardholders or Card issuers; 2.9.3 preventing its employees, agents, and others from submitting returns or refunds that do not reflect valid returns or refunds corresponding to prior transactions; 2.9.4 retaining transaction records according to the timelines required by the Network Rules or applicable Laws; and 2.9.5 maintaining transaction fraud and chargeback rates below thresholds established by the Networks.
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Related to Submitting Transactions

  • Closing Transactions On the terms and subject to the conditions set forth in this Agreement, the following transactions shall occur in the order set forth in this Section 2.1:

  • Processing Transactions 2 2.1 Timely Pricing and Orders.................................... 2 2.2

  • Recurring Transactions If you intend to use the Card for recurring transactions, you should monitor your Available Balance and ensure you have funds available in your Card Account to cover the transactions. “Recurring transactions” are transactions that are authorized in advance by you to be charged to your Card at substantially regular intervals. We are not responsible if a recurring transaction is declined because you have not maintained a sufficient Available Balance in your Card Account to cover the transaction. If these recurring transactions may vary in amount, the person you are going to pay should tell you, 10 days before each payment, when it will be made and how much it will be. (You may choose instead to get this notice only when the payment would differ by more than a certain amount from the previous payment, or when the amount would fall outside certain limits that you set.) If you have told us in advance to make regular payments (i.e., Recurring Transactions) from your Card Account, you can stop the payment by notifying us orally or in writing at least three (3) Business Days before the scheduled date of the transfer. If you call, we also may require you to put your request in writing and get it to us within 14 days after you call. If you order us to stop one of these payments three (3) Business Days or more before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages. If you have authorized a merchant to make the recurring payment, you should also contact the applicable merchant in order to stop the transaction. Fraudulent Card Account Activity. We may block or cancel your Card Account if, as a result of our policies and procedures, we reasonably believe your Card Account is being used for fraudulent, suspicious or criminal activity or any activity that is inconsistent with this Agreement. We will incur no liability because of the unavailability of the funds that may be associated with your Card Account.

  • Formation Transactions The Formation Transactions shall have been or shall be consummated substantially concurrently in accordance with the timing set forth in the respective Formation Transaction Documentation.

  • Alternative Transactions (a) Between the Original Signing Date and the Closing Date, except for the issuance of shares of Common Stock issuable as of the Original Signing Date as set forth in Schedule 3.1(g) and the Securities being issued pursuant to this Agreement, the Company shall not (i) issue or agree to issue any additional shares of Common Stock or other securities which provide the holder thereof the right to convert such securities into shares of Common Stock or (ii) directly or indirectly, by act or omission, solicit, pursue, agree to, engage in or become subject to any recapitalization, reorganization or capital-raising transaction other than the transactions contemplated by the Transaction Documents. (b) If, prior to Closing, the Company takes any action that would, if the Warrant were outstanding at such time, result in an adjustment to the Shares issuable upon the exercise of the Warrant or the exercise price thereof, then, at the Purchaser’s option which may be exercised in the Purchaser’s sole discretion, the Company shall make appropriate adjustments with respect to the Securities to be issued to the Purchasers under this Agreement such that the Purchasers shall receive the benefit of such adjustments under the Warrant as if the provisions of the Warrant applied thereto mutatis mutandis and such Securities had been outstanding as of the date of such action in a manner that provides the Purchasers with substantially the same economic benefit from this Agreement as the Purchasers had prior to the applicable transaction. (c) In the event this Agreement is terminated by the Purchaser pursuant to Sections 6.16(a)(iv), (vi) or (vii) and, within 12 months of the date of such termination the Company or any of its Subsidiaries engages in or becomes subject to, or enters into an agreement to engage in or become subject to, any alternate recapitalization, reorganization or capital-raising transaction, then the Purchasers shall have the right to participate in such transaction on terms no less favorable to the Purchasers than as provided for in this Agreement (and in any event no less favorable to the Purchasers than provided to any other participant in such alternate transaction), and the Company shall take all actions reasonably requested by the Purchasers in order to allow the Purchasers to fully exercise such right and participate in such transaction. (d) Prior to Closing, notwithstanding anything in this Agreement to the contrary, the Company shall not directly or indirectly effect, agree to effect or cause to be effected any transaction with a third party that would reasonably be expected to result in a Change in Control unless such third party shall have provided prior assurance in writing to the Purchasers (in a form that is reasonably satisfactory to the Purchasers) that the terms of this Agreement shall be fully performed (i) by the Company or (ii) by such third party if it is the successor of the Company or if the Company is its direct or indirect subsidiary. For the avoidance of doubt, it is understood and agreed that, in the event that a Change in Control occurs on or prior to the Closing, the Purchasers shall maintain the right under this Agreement to acquire, pursuant to the terms and conditions of this Agreement, the Securities (or such shares of stock or other securities or property (including cash) into which the Securities may have become exchangeable as a result of such Change in Control), as if the Closing had occurred immediately prior to such Change in Control. As used herein, “Change in Control” shall be deemed to occur if (i) there occurs a change in control of the Company of the nature that would be required to be reported in response to item 6(e) of Schedule 14A of Regulation 14A or Item 5.01 of Form 8-K promulgated under the 1934 Act (or if neither item remains in effect, any regulations issued pursuant to the 1934 Act which serve similar purposes); (ii) any “Person” (as such term is used in Sections 13(d) and 14(d)(2) of the ▇▇▇▇ ▇▇▇) is or becomes a beneficial owner, directly or indirectly, of Company Securities representing 50% percent or more of the total voting power of the Company’s then outstanding shares of capital stock; (iii) the Company shall have merged into, consolidated with or effected an amalgamation with another company, or merged another company into the Company, on a basis whereby less than 50% of the total voting power of the surviving company is represented by shares held by former shareholders of the Company prior to such merger, consolidation or amalgamation; or (iv) the Company shall have sold, transferred, pledged or exchanged all, or substantially all, of its assets to another Person.