Merchant Termination Sample Clauses
The Merchant Termination clause defines the conditions under which a merchant may end their contractual relationship with another party, such as a service provider or platform. Typically, this clause outlines the required notice period, acceptable reasons for termination, and any obligations the merchant must fulfill before or after termination, such as settling outstanding payments or returning proprietary materials. Its core practical function is to provide a clear and fair process for ending the agreement, thereby reducing uncertainty and potential disputes between the parties.
Merchant Termination. If Processor materially breaches this Agreement, Merchant may provide Processor notice of its intent to terminate if the identified breach is not remedied within thirty (30) days of Processor’s receipt of such notice. Failure to remedy such breach shall make this Agreement te rmi na ble , at the option of Merchant, upon the end of such thirty (30) day period. Merchant may terminate this Agreement by providing Processor with thirty (30) days prior written notice if Processor increases the Fees charged to Merchant, but only if: (a) such increase in Fees is not the pass through of Fees or rates charged by a Card Brand or other third party; (b) Merchant provides such notice to Processor within fifteen (15) days after the effective date of the Fee increase, and (c) after receipt of such notice, Processor does not revert Merchant to the previously charged Fees within fifteen (15) days.
Merchant Termination. If Processor materially breaches this Agreement, Merchant may provide Processor notice of its intent to terminate if the identified breach is not remedied within thirty (30) days of Processor’s receipt of such notice. Failure to remedy such breach shall make this Agreement terminable, at the option of Merchant, upon the end of such thirty (30) day period. Merchant will have no obligation to pay the Liquidated Damage Amount if this Agreement is terminated in accordance with this Section 7.4. Merchant may terminate this Agreement by providing Processor with thirty (30) days prior written notice if Processor increases the Fees charged to Merchant, but only if: (a) such increase in Fees is not the pass through of fees or rates charged by a Card Brand or other third party; (b) Merchant provides such notice to Processor within fifteen
Merchant Termination. You may terminate this Agreement for cause if our services provided under this Agreement fail to conform to generally accepted standards for such services in the payment processing industry. In such event, your sole remedy for such failure shall be that, upon written notice from you specifying the failure of performance, we will rectify such failure of performance. If we do not rectify our failure of performance within thirty days after receipt of written notification, then you may terminate this Agreement upon thirty days’ written notice to us. NOTWITHSTANDING ANYTHING TO THE CONTRARY HEREIN, IF YOU TERMINATE THE AGREEMENT PRIOR TO THE EXPIRATION OF THE INITIAL TERM OR ANY RENEWAL TERM OTHER THAN IN ACCORDANCE WITH THE PROCEDURE SET FORTH ABOVE, YOU AGREE TO PAY EARLY TERMINATION FEES EQUAL TO THREE HUNDRED AND FIFTY DOLLARS ($350.00) FOR EACH MERCHANT LOCATION (“TERMINATION FEES”) AS OF THE DATE OF TERMINATION. IN THE EVENT THE PAYMENT OF SUCH TERMINATION FEE IS LIMITED BY APPLICABLE LAW, THE AMOUNT PAYABLE TO US PURSUANT TO THIS SECTION SHALL BE LIMITED TO THE MAXIMUM AMOUNT PERMITTED UNDER APPLICABLE LAW. SUCH AMOUNTS WILL BE FUNDED, TO THE EXTENT POSSIBLE, ACCORDING TO THE SAME METHODS FOR COLLECTING AMOUNTS DUE UNDER THIS AGREEMENT.
Merchant Termination. You may terminate this Agreement for cause if our services provided under this Agreement fail to conform to generally accepted standards for such services in the payment processing industry. In such event, your sole remedy for such failure shall be that, upon written notice from you specifying the failure of performance, we will rectify such failure of performance. If we do not rectify our failure of performance within thirty days after receipt of written notification, then you may terminate this Agreement upon thirty days’ written notice to us. Merchant reserves the right to terminate the Agreement at any time, in whole or in part, without penalty, by providing 30 calendar days' advance written notice. In the event of such a termination, the Respondent shall, unless otherwise mutually agreed upon in writing, cease all work immediately upon the effective date of termination.
Merchant Termination. Subject to the terms of this Section 10.2, Merchant may terminate this Agreement at any time by providing thirty (30) days prior notice to Chase Paymentech. NOTWITHSTANDING ANYTHING TO THE CONTRARY HEREIN, IF MERCHANT TERMINATES THE AGREEMENT WITHIN TWENTY FOUR (24) MONTHS OF THE EFFECTIVE DATE, MERCHANT MAY BE OBLIGATED TO REPAY, AS APPLICABLE, ANY PROMOTIONAL CONSIDERATION, WHICH SHALL BE DEFINED AS: (A) A PRORATED PORTION OF ANY SIGNING BONUS; (B) THE ESTIMATED RETAIL VALUE OF ANY FREE POINT OF SALE TERMINAL OR OTHER EQUIPMENT PROVIDED TO MERCHANT IN PROMOTION OF THIS AGREEMENT; AND (C) THE AMOUNT OR VALUE OF ANY OTHER PROMOTION EXTENDED TO MERCHANT IN CONSIDERATION OF THIS AGREEMENT. IN THE EVENT MERCHANT’S PAYMENT OF SUCH PROMOTIONAL CONSIDERATION IS LIMITED BY APPLICABLE LAW, THE AMOUNT PAYABLE TO CHASE PAYMENTECH PURSUANT TO THIS SECTION SHALL BE LIMITED TO THE MAXIMUM AMOUNT PERMITTED UNDER APPLICABLE LAW. ALL AMOUNTS OWED UNDER THIS SECTION 10.2 WILL BE FUNDED, TO THE EXTENT POSSIBLE, ACCORDING TO THE SAME METHODS FOR COLLECTING AMOUNTS DUE UNDER THIS AGREEMENT.
Merchant Termination. The Merchant may terminate this Agreement at any time for convenience by giving to ZELO a written notice at least the Termination Notice Period prior to the proposed date of termination.
Merchant Termination. Merchant has the right to terminate this Agreement at any time upon thirty (30) days’ notice to MTA NYCT. Merchant/Agency Manual available on request. Does not apply to qualified NYC agencies. Does not apply to qualified NYC agencies. tions of such agreement, and as the authorized agent of MTA NYCT, will facilitate the electronic funding transactions for the payment of purchases of MetroCards by Merchant. Payments to MTA NYCT for MetroCard purchases by Merchant will be through the Automated Clearing House (ACH) and normally will be electronically debited directly from the checking account in the Depository Institution (Depository) indicated below. Merchant hereby authorizes MTA NYCT and ISO to (i) access information from the checking account indicated below, (ii) initiate credit and/or debit entries by ACH transfer to such checking account, and (iii) authorize Depository to block or to initiate, if necessary, reversing entries and adjustments for any original entries made to the demand deposit account indicated below and to authorize Depository to pro- vide such access and to credit and/or debit or to block the same to such account. This authorization is without respect to the source of any funds in the checking account and is irrevocable. This authority extends to any purchase agreement that may exist between MTA NYCT and Merchant as well as to any fees, assessments, or penalties and amounts of whatever kind or nature due to MTA NYCT under the terms of the MetroCard Merchant Sales Agreement, whether arising during or after termination of the MetroCard Merchant Sales Agreement. This authority is to remain in full force and effect at all times unless and until MTA NYCT has consented to its termination in such time and in such manner as to afford MTA NYCT, ISO, and Depository a reasonable opportunity to act on it. In order to ensure that transactions are properly handled, a copy of a blank, voided company check must be attached. Merchant’s bank must be able to process or accept electronic transfers via ACH, which trans- fers are processed utilizing the Federal Reserve System. In addition, Merchant understands and agrees that MTA NYCT or ISO shall charge Merchant a fee for each transaction that cannot be processed, is returned or is late, as outlined in the MetroCard Merchant Sales Manual. __ _ Name on account Name of bank Contact Address of bank Phone Account number (DDA) Routing number (ABA)
Merchant Termination. In accordance with the terms of the Merchant Agreement, each Party may terminate a Shopify Merchant in its sole discretion. Upon any termination of a Merchant Agreement, the parties hereto shall immediately discontinue processing transactions originated by the terminated merchant through Shopify Payments.