Common use of Bad Acts Clause in Contracts

Bad Acts. If you commit any of the following acts (“Bad Acts”) without our prior written consent before we receive the Completion Amount, you will be in default: i. ▇▇▇ sell, transfer or otherwise encumber or attempt to sell, transfer or otherwise encumber Future Receipts, whether or not such Future Receipts are part of the Amount Sold, sometimes referred to as “stacking” our Purchase Price with other funding companies; i▇. ▇▇▇ encumber or allow any encumbrance to attach to our interest in the Amount Sold; i▇▇. ▇▇▇ sell all or substantially all of your assets used in the operation of your business to a third party; i▇. ▇▇▇ materially change the operation of your business (e.g., changes in industry, concept, size, etc.); v. ▇▇▇ stop accepting a particular method of payment while you remain open for business; v▇. ▇▇▇ change your legal name or jurisdiction of formation, or carry-on business through a different business entity; v▇▇. ▇▇▇ change, close, or terminate the Approved Bank Account or Approved Card Processor, or interfere with the lockbox arrangement, without our express written consent; v▇▇▇. ▇▇▇ do not obtain a replacement Approved Bank Account or Approved Card Processor acceptable to us within fifteen (15) days after your bank or processor terminates its relationship with you; i▇. ▇▇▇ process any card transaction through a payment card processor other than the Approved Card Processor; x. ▇▇▇ provide us with false or misleading information about your business or revenue (in your application or otherwise) that is material to our decision to purchase Future Receipts from you; x▇. ▇▇▇ deposit or cause to be deposited by others Future Receipts into any account other than the Approved Bank Account or Lockbox Account, if applicable; x▇▇. ▇▇▇ take or fail to take an action that hinders our taking delivery of our Specified Percentage of Future Receipts from the Approved Bank Account, Lockbox Account, or any Receivables Custodian, as applicable; x▇▇▇. ▇▇▇ disconnect or interfere with the operation of Purchaser’s bank monitoring software; or x▇▇. ▇▇▇ commit any act or omission specified in this Agreement to be a material breach. However, we will not consider any of these acts to be Bad Acts if they occur because you go out of business in the ordinary course. These Bad Acts are prohibited solely to protect our ability to collect the Amount Sold and receive the benefit of our bargain. They do not create any obligation for Merchant to deliver Future Receipts to Purchaser if they are simply not generated by M▇▇▇▇▇▇▇’s business.

Bad Acts. If you commit any of the following acts (“"Bad Acts”") without our prior written consent before we receive the Completion Amount, you will be in default: i. ▇▇▇ you sell, transfer or otherwise encumber or attempt to sell, transfer or otherwise encumber Future Receipts, whether or not such Future Receipts are part of the Amount Sold, sometimes referred to as “"stacking” " our Purchase Price with other funding companies; i▇ii. ▇▇▇ you encumber or allow any encumbrance to attach to our interest in the Amount Sold; i▇▇iii. ▇▇▇ you sell all or substantially all of your assets used in the operation of your business to a third party; i▇iv. ▇▇▇ you materially change the operation of your business (e.g., changes in industry, concept, size, etc.); v. ▇▇▇ you stop accepting a particular method of payment while you remain open for business; v▇vi. ▇▇▇ you change your legal name or jurisdiction of formation, or carry-on business through a different business entity; v▇▇vii. ▇▇▇ you change, close, or terminate the Approved Bank Account or Approved Card Processor, or interfere with the lockbox arrangement, without our express written consent; v▇▇▇viii. ▇▇▇ you do not obtain a replacement Approved Bank Account or Approved Card Processor acceptable to us within fifteen (15) days after your bank or processor terminates its relationship with you; i▇ix. ▇▇▇ you process any card transaction through a payment card processor other than the Approved Card Processor; x. ▇▇▇ you provide us with false or misleading information about your business or revenue (in your application or otherwise) that is material to our decision to purchase Future Receipts from you; x▇xi. ▇▇▇ you deposit or cause to be deposited by others Future Receipts into any account other than the Approved Bank Account or Lockbox Account, if applicable; x▇▇xii. ▇▇▇ you take or fail to take an action that hinders our taking delivery of our Specified Percentage of Future Receipts from the Approved Bank Account, Lockbox Account, or any Receivables Custodian, as applicable; x▇▇▇xiii. ▇▇▇ you disconnect or interfere with the operation of Purchaser’s 's bank monitoring software; or x▇▇xiv. ▇▇▇ you commit any act or omission specified in this Agreement to be a material breach. However, we will not consider any of these acts to be Bad Acts if they occur because you go out of business in the ordinary course. These Bad Acts are prohibited solely to protect our ability to collect the Amount Sold and receive the benefit of our bargain. They do not create any obligation for Merchant to deliver Future Receipts to Purchaser if they are simply not generated by M▇▇▇▇▇▇▇’s ▇'s business.