Bank’s Right to Receive Payment Clause Samples

Bank’s Right to Receive Payment. Subject to the Bank’s right of Chargeback against the Merchant, the Bank shall have sole right to receive payment from Cardholders of the total amount of moneys represented by all P.O.S. Transactions which are credit card transactions represented by Transaction Receipts issued at the point of sale at the time of the transaction. The Merchant will not solicit, charge or accept any payment from Cardholders with respect to any transaction in which a Qualified Card is used. The Merchant hereby agrees to assign to the Bank all its right, title and interest in and to all Transaction Receipts.