Blocked Account Damages Sample Clauses

Blocked Account Damages. If Customer puts a block on the Approved Account or takes any such action that would prevent Purchaser from debiting the Approved Account as permitted by this Agreement, which action will constitute Customer’s breach of the covenant set forth in Paragraph 6(vi) below, Customer agrees to pay Purchaser promptly on demand $2,500, plus the Amount Sold then outstanding on this Agreement, as liquidated damages. The parties agree that these damages are a good faith estimate of the damages caused by such a breach of the Agreement, including the increased resources required to be expended by Purchaser to respond to the breach, the increased cost of funds to Purchaser caused by the failure to receive expected funds, the risk to Purchaser’s ability to request ACH payments through the NACHA system caused by initiating rejected ACHs, and other damages and expenses caused by the breach.
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Blocked Account Damages. If Merchant puts a block on the Approved Account or takes any such action that would prevent Purchaser from debiting the Approved Account as permitted by the Agreement, which action will constitute Merchant’s breach of the covenant set forth in Paragraph 4(vii) below, Xxxxxxxx agrees to pay Purchaser promptly on demand (i) $2,500 or (ii) 25% of the uncollected NYSCEF DOC. NO. 3 RECEIVED NYSCEF: 01/25/2021 portion of the Amount Sold (calculated as of the date Purchaser’s access was revoked), whichever is greater, as liquidated damages. The parties agree that these damages are a good faith estimate of the damages caused by such a breach of the Agreement, including the increased resources required to be expended by Purchaser to respond to the breach, the increased cost of funds to Purchaser caused by the failure to receive expected funds, the risk to Purchaser’s ability to request ACH payments through the NACHA system caused by initiating rejected ACHs, and other damages and expenses caused by the breach.
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Blocked Account Damages. If Merchant puts a block on the Approved Account or takes any such action that would prevent Purchaser from debiting the Approved Account as permitted by the Agreement, which action will constitute Merchant’s breach of the covenant set forth in Paragraph 4(vii) below, Xxxxxxxx agrees to pay Purchaser promptly on demand (i) $2,500 or (ii) 25% of the uncollected portion of the Amount Sold (calculated as of the date Purchaser’s access was revoked), whichever is greater, as liquidated damages. The parties agree that these damages are a good faith estimate of the damages caused by such a breach of the Agreement, including the increased resources required to be expended by Purchaser to respond to the breach, the increased cost of funds to Purchaser caused by the failure to receive expected funds, the risk to Purchaser’s ability to request ACH payments through the NACHA system caused by initiating rejected ACHs, and other damages and expenses caused by the breach.
Sample 1

Related to Blocked Account Damages

  • Special Account Instructions You may request that we facilitate certain trust, will, or court-ordered account arrangements. However, because we do not give legal advice, we cannot counsel you as to which account arrangement most appropriately meets the specific requirements of your trust, will, or court order. If you ask us to follow any instructions that we believe might expose us to claims, lawsuits, expenses, liabilities, or damages, whether directly or indirectly, we may refuse to follow your instructions or may require you to indemnify us or post a bond or provide us with other protection. We may require that account changes requested by you, or any account owner, such as adding or closing an account or service, be evidenced by a signed Account Change Card or other document which evidences a change to an account and accepted by us.

  • Checking Accounts The Credit Union may refuse any check or other item drawn against your account or used to withdraw funds from your account if it is not on a form approved by us. We also reserve the right to refuse any check or other item drawn against your account or used to withdraw funds from your account if made in a manner not specifically authorized for your account, if made more frequently or in a greater number than specifically permitted for your account, or if made in an amount less than the minimum withdrawal or transfer specifically permitted for your account. If we accept a check or other item not on a form approved by us, you will be responsible for any loss by us in handling the item. We may pay checks or other items drawn upon your account in any order determined by us, even if paying a particular check or item results in an insufficient balance in your account to pay one or more other items that otherwise could have been paid out of your account. Because of the nature of the Credit Union check program, neither the Credit Union nor any other processing entities shall be responsible for the authenticity of the checks with regard to the signature or alterations; and checks, when presented, shall be paid without verification. We may disregard all information on or any writing or memorandum attached to any check or item except for your signature, the amount and the information that is magnetically encoded. You agree that we do not fail to use ordinary care because our procedures do not provide for sight examination. You will notify us immediately if you learn or have reason to know that any of your checks have been lost or stolen. If you are negligent in safeguarding your checks or if there is a processing problem due to your use of a check printer we do not approve, we will not have any liability or responsibility for any losses you incur as a result if we act in good faith pursuant to standard commercial practices.

  • Special Accounts 1. For the purposes of this Schedule:

  • Accessing the Website and Account Security We reserve the right to withdraw or amend this Website and any service or material we provide on the Website in our sole discretion without notice. We will not be liable if for any reason all or any part of the Website is unavailable at any time or for any period. From time to time, we may restrict access to some parts of the Website, or the entire Website, to users, including registered users. To access the Website or some of the resources it offers, you may be asked to provide certain registration details or other information. It is a condition of your use of the Website and any resources downloaded from the Website that all the information you provide on the Website is correct, current, and complete. You agree that all information you provide to register with this Website or otherwise, including but not limited to through the use of any interactive features on the Website, is governed by our Privacy Policy, and you consent to all actions we take with respect to your information consistent with our Privacy Policy. If you choose, or are provided with, a user name, password or any other piece of information as part of our security procedures, you must treat such information as confidential, and you must not disclose it to any other person or entity. You also acknowledge that your account is personal to you and agree not to provide any other person with access to this Website or portions of it using your user name, password or other security information. You agree to notify us immediately of any unauthorized access to or use of your user name or password or any other breach of security. You also agree to ensure that you exit from your account at the end of each session. You should use particular caution when accessing your account from a public or shared computer so that others are not able to view or record your password or other personal information. We have the right to disable any user name, password or other identifier, whether chosen by you or provided by us, at any time in our sole discretion for any or no reason, including if, in our opinion, you have violated any provision of these Terms of Use.

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