Common use of Credit Memoranda Clause in Contracts

Credit Memoranda. You will issue a credit memorandum, instead of making a cash advance, a disbursement or a cash refund on any Card transaction. Member Bank will debit the Merchant Account for the total face amount of each credit memorandum submitted to Processor. You will not submit a credit relating to any Sales Draft not originally submitted to Processor, nor will you submit a credit that exceeds the amount of the original Sales Draft. You will, within the time period specified by applicable law, provide Processor with a credit memorandum or credit statement for every return of goods or forgiveness of debt for services which were the subject of a Card transaction.

Credit Memoranda. You Merchant will issue a credit memorandum, instead of making a cash advance, a disbursement or a cash refund on any Card transaction. Member Bank will debit the Merchant Account for the total face amount of each credit memorandum submitted to Processor. You Merchant will not submit a credit relating to any Sales Draft not originally submitted to Processor, nor will you Merchant submit a credit that exceeds the amount of the original Sales Draft. You Merchant will, within the time period specified by applicable law, provide Processor with a credit memorandum or credit statement for every return of goods or forgiveness of debt for services which were the subject of a Card transaction.

Credit Memoranda. You will issue a credit memorandum, instead of making a cash advance, a disbursement or a cash refund on any Card transaction. Member Bank will debit the Merchant Account for the total face amount of each credit memorandum submitted to ProcessorNPC. You will not submit a credit relating to any Sales Draft not originally submitted to ProcessorNPC, nor will you submit a credit that exceeds the amount of the original Sales Draft. You will, within the time period specified by applicable law, provide Processor NPC with a credit memorandum or credit statement for every return of goods or forgiveness of debt for services which were the subject of a Card transaction.

Credit Memoranda. You will issue a credit memorandummemorandum in any approved form, instead of making a cash advance, a disbursement or a cash refund on any Card transaction. Member Bank will debit the Merchant Designated Account for the total face amount of each credit memorandum submitted to ProcessorBank. You will not submit a credit relating to any Sales Draft not originally submitted to ProcessorBank, nor will you submit a credit that exceeds the amount of the original Sales Draft. You will, will within the time period specified by applicable lawthe Rules, provide Processor with a credit memorandum or credit statement for every return of goods or of forgiveness of debt for services which were the subject of a Card transaction.