Customer Reserves Clause Samples

Customer Reserves. Except as set forth on Section 5.21(d) of the Disclosure Schedules, there are no Merchant Customer reserves, held funds or Merchant Customer liability accounts. Section 5.21(d) of the Disclosure Schedules sets forth the Merchant Customer losses experienced from Chargebacks, fines or fees for the six (6) months period prior to the Closing Date. Each Company Group Member has handled and processed all Chargebacks in the ordinary course consistent with the Rules.