Merchant Base. The term "Merchant Base" means the portfolio of contracts whereby merchants participate in a merchant bank card processing system, and such contracts are originated by Co-Borrowers, its assignor or other predecessor in interest, under the Cynergy Processing Agreement or any other Processing Agreement.
Appears in 2 contracts
Sources: Loan and Security Agreement, Loan and Security Agreement (Net Element, Inc.)
Merchant Base. The term "Merchant Base" means the portfolio of contracts whereby merchants that participate in a merchant bank card processing system, and such contracts are originated by Co-Borrowerssystem that originates with Borrower, its assignor or other predecessor in interest, under the Cynergy Processing Agreement or any other Processing Agreement.
Appears in 1 contract