Interchange Differential Sample Clauses
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Interchange Differential. With respect to any DCC Transaction, it is understood that the difference between the Purchase Amount (at the Base Conversion Rate) and the Cardholder Settlement Amount will incur Interchange costs and assessment costs (“Interchange Differential”). If Acquirer’s agreement with Acquirer Merchant for DCC services so provides, Acquirer Merchant shall solely bear the amount of such Interchange Differential incurred for DCC Transactions presented to Planet Payment, and the Acquirer Merchant shall be charged (or the Merchant Settlement Amount offset by) such Interchange Differential. In the absence of such agreement by Acquirer Merchant or in the event that Acquirer is not able to collect such amount from the applicable Acquirer Merchant, such Interchange Differential shall be shared by the parties, in the proportions in which they share the Net FX Margin.
Interchange Differential. With respect to any Foreign Transaction, it is understood that the increased Interchange cost attributable to the increase in the Purchase Amount by the Target Currency Conversion Margin shall be borne by the Merchant that submitted the particular Foreign Transaction. In the event that the Acquirer fails to assess such Merchant for such Interchange Differential for whatever reason, then the amount of the Interchange Differential shall be shared by the Acquirer and Planet Payment in the proportions in which they share Net FX Margin. Planet Payment’s reporting pursuant to Section 3.3 of the Agreement will include reporting and the allocation of Interchange Differential pursuant to this paragraph.