iPAYMENT COMPENSATION Clause Samples

iPAYMENT COMPENSATION. All Merchant Transaction Processing Fees will accrue to the benefit of iPayment, subject to any (i) claims of Bank against iPayment pursuant to the provisions of Section 9.5 of this Agreement and (ii) compensation due to Bank pursuant to this Agreement. Processor will collect such fees through ACH debits to the applicable Merchant DDA on a daily or monthly basis, as appropriate pursuant to the apposite Merchant Agreement, and transmit them to Bank for deposit into the Settlement Account.