Common use of Merchant Termination Clause in Contracts

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. 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 Fees or rates charged by a Card Brand or other third party; (b) Merchant provides such notice to Processor within fifteenfifteen (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.