Common use of Electronically Transmitted Transactions Clause in Contracts

Electronically Transmitted Transactions. Fattmerchant shall deliver payment to Sub-Merchant by a credit to the Operating Account equal to the reconciled summary of Sub-Merchant’s total summary Payment Card Processing Transactions since the previous credit. This credit will be net of following charges: i. The sum of all Cardholder charges denied, refused or charged back; ii. All refunds processed on account of Cardholders during said time period;

Electronically Transmitted Transactions. Fattmerchant shall deliver payment to Sub-Merchant by a credit to the Operating Account equal to the reconciled summary of Sub-Merchant’s total summary Payment Card Processing Transactions since the previous credit. This credit will be net of following charges: i. 1. The sum of all Cardholder charges denied, refused or charged back; ii; 2. All refunds processed on account of Cardholders during said time period;