Common use of Active Account Clause in Contracts

Active Account. ▇▇▇▇▇▇▇▇’s account will be considered “Active” as long as Merchant continues to make on-time payments of all amounts owed under the Agreement. But, if Merchant goes more than 90 consecutive days without making an on-time payment of amounts due under the Agreement, Chase Paymentech may: (a) consider the Merchant’s account as not Active; (b) terminate this Agreement immediately; and (c) subject to Section 10.2, collect the Termination Fee and all or a prorated portion of any of any signing bonus and/or the estimated retail value of any equipment provided to Merchant in promotion of this Agreement.

Active Account. ▇▇▇▇▇▇▇▇’s account will be considered “Active” as long as Merchant continues to make on-time payments of all amounts owed under the Agreement. But, if Merchant goes more than 90 consecutive days without making an on-time payment of amounts due under the Agreement, Chase Paymentech may: (a) consider the Merchant’s account as not Active; (b) terminate this Agreement immediately; and; (c) subject to Section 10.2, collect the Termination Fee and all or Fee; and (d) collect from Merchant a prorated portion of any of any signing bonus and/or and the estimated retail value of any equipment provided to Merchant in promotion of this Agreement.