Conversion Costs. Company shall pay any reasonable conversion costs of Bank resulting directly from the termination of this Agreement. Notwithstanding the foregoing, Bank shall be responsible for such conversion costs in the event (1) Bank’s membership in any Card Association is terminated, suspended or reduced in scope or scale, or (2) this Agreement is terminated by Company due to an Event of Default by Bank.
Appears in 2 contracts
Sources: Clearing, Settlement and Sponsorship Services Agreement, Clearing, Settlement and Sponsorship Services Agreement (Vantiv, Inc.)