Common use of Autobooks Clause in Contracts

Autobooks. Autobooks may terminate this Agreement immediately and without notice to User if: (i) User engages in fraudulent, dishonest, or illegal conduct; (ii) User’s transactions result in chargebacks, ACH rejects, or other transaction failures in a frequency or quantity deemed unacceptable by Autobooks; (iii) a Card Brand, network, regulator, sponsor bank, or governmental authority requests or requires Autobooks to cease providing the Services to User; (iv) continued provision of the Services may, in Autobooks’ sole discretion, subject Autobooks to additional regulatory scrutiny, liability, reputational harm, or other actual or anticipated harm; (v) User becomes insolvent, enters into suspension of payments, reorganization, bankruptcy, makes a general assignment for the benefit of creditors, admits in writing its inability to pay its debts, suffers or permits the appointment of a receiver for its business or assets, or avails itself or becomes subject to any other judicial or administrative proceeding that relates to insolvency or protection of creditors rights; (vi) User ceases its regular business operations; or (vii) a competitor of Autobooks acquires a controlling ownership interest in User.