Common use of Payers Clause in Contracts

Payers. 4.1 In the event that VGSI accepts payments on your behalf, you hereby appoint VGSI as your limited payments agent to receive, hold and settle such payments to you. You further agree and understand that you must provide express instructions to your Payers to use the Payers’ own bank or similar financial institution to send funds to VGSI. You shall provide your Payers with information sufficient for them to understand that their payments are being processed by VGSI on your behalf, and you shall provide your Payers with a receipt confirming receipt of payment when such payment is received by VGSI. You agree and understand that such funds received on your behalf shall be deemed received by VGSI with the automatic instruction to settle such funds to your Global Account. You further agree and understand that the receipt of funds by VGSI from such third party Payers, pursuant to instructions you have provided, satisfies the Payer’s obligation to you. In accepting this appointment as your limited payments agent, you agree that VGSI assumes no liability for any of your acts or omissions, and you understand that the obligation of VGSI to settle funds in accordance with this provision is subject to and conditional upon the Payer’s actual payment and the terms of this Schedule. 4.2 In the event that VGSI accepts payments on your End Customer’s behalf, you agree and understand that you must provide express instructions to your End Customers regarding the operation of the Spark Service as set forth in your Commercial Agreement. Such instructions will include information sufficient for them to understand that payments made for the benefit of End Customers are being processed by VGSI on their behalf, even if such funds ultimately settle to your Global Account, as set forth in your Commercial Agreement. You shall require your End Customers to provide Payers with a Receipt confirming receipt of payment when such payment is received from Payer by VGSI. Accordingly, in connection with such transactions, you authorize us to act as your End Customer’s agent for the limited purposes of receiving, holding, and disbursing to your Global Account such funds received from Payers on your End Customer’s behalf. You agree and understand that the receipt of funds by us from a Payer, pursuant to instructions you have provided the End Customer, satisfies the Payer’s obligation to your End Customer. You will obtain, on our

Payers. 4.1 In the event that VGSI accepts payments on your behalf, you hereby appoint VGSI as your limited payments agent to receive, hold and settle such payments to you. You further agree and understand that you must provide express instructions to your Payers to use the Payers’ own bank or similar financial institution to send funds to VGSI. You shall provide your Payers with information sufficient for them to understand that their payments are being processed by VGSI on your behalf, and you shall provide your Payers with a receipt confirming receipt of payment when such payment is received by VGSI. You agree and understand that such funds received on your behalf shall be deemed received by VGSI with the automatic instruction to settle such funds to your Global Account. You further agree and understand that the receipt of funds by VGSI from such third party Payers, pursuant to instructions you have provided, satisfies the Payer’s obligation to you. In accepting this appointment as your limited payments agent, you agree that VGSI assumes no liability for any of your acts or omissions, and you understand that the obligation of VGSI to settle funds in accordance with this provision is subject to and conditional upon the Payer’s actual payment and the terms of this Schedule. 4.2 In the event that VGSI accepts payments on your End Customer’s behalf, you agree and understand that you must provide express instructions to your End Customers regarding the operation of the Spark Service as set forth in your Commercial Agreement. Such instructions will include information sufficient for them to understand that payments made for the benefit of End Customers are being processed by VGSI on their behalf, even if such funds ultimately settle to your Global Account, as set forth in your Commercial Agreement. You shall require your End Customers to provide Payers with a Receipt confirming receipt of payment when such payment is received from Payer by VGSI. Accordingly, in connection with such transactions, you authorize us to act as your End Customer’s agent for the limited purposes of receiving, holding, holding and disbursing to your Global Account such funds received from Payers on your End Customer’s behalf. You agree and understand that the receipt of funds by us from a Payer, pursuant to instructions you have provided the End Customer, satisfies the Payer’s obligation to your End Customer. You will obtain, on our.

Payers. 4.1 In the event that VGSI accepts payments on your behalf, you hereby appoint VGSI as your limited payments agent to receive, hold and settle such payments to you. You further agree and understand that you must provide express instructions to your Payers to use the Payers’ own bank or similar financial institution to send funds to VGSI. You shall provide your Payers with information sufficient for them to understand that their payments are being processed by VGSI on your behalf, and you shall provide your Payers with a receipt confirming receipt of payment when such payment is received by VGSI. You agree and understand that such funds received on your behalf shall be deemed received by VGSI with the automatic instruction to settle such funds to your Global Accountyou. You further agree and understand that the receipt of funds by VGSI from such third party Payers, pursuant to instructions you have provided, satisfies the Payer’s obligation to you. In accepting this appointment as your limited payments agent, you agree that VGSI assumes no liability for any of your acts or omissions, and you understand that the obligation of VGSI to settle funds in accordance with this provision is subject to and conditional upon the Payer’s actual payment and the terms of this Schedule. 4.2 In the event that VGSI accepts payments on your End Customer’s behalf, you agree and understand that you must provide express instructions to your End Customers regarding the operation of the Spark Service as set forth in your Commercial Agreement. Such instructions will include information sufficient for them to understand that payments made for the benefit of End Customers are being processed by VGSI on their behalf, even if such funds ultimately settle to your Global Account, as set forth in your Commercial Agreement. You shall require your End Customers to provide Payers with a Receipt confirming receipt of payment when such payment is received from Payer by VGSI. Accordingly, in connection with such transactions, you authorize us to act as your End Customer’s agent for the limited purposes of receiving, holding, holding and disbursing to your Global Account such funds received from Payers on your End Customer’s behalf. You agree and understand that the receipt of funds by us from a Payer, pursuant to instructions you have provided the End Customer, satisfies the Payer’s obligation to your End Customer. You will obtain, on our.

Payers. 4.1 In the event that VGSI accepts payments on your behalf, you hereby appoint VGSI as your limited payments agent to receive, hold and settle such payments to you. You further agree and understand that you must provide express instructions to your Payers to use the Payers’ own bank or similar financial institution to send funds to VGSI. You shall provide your Payers with information sufficient for them to understand that their payments are being processed by VGSI on your behalf, and you shall provide your Payers with a receipt confirming receipt of payment when such payment is received by VGSI. You agree and understand that such funds received on your behalf shall be deemed received by VGSI with the automatic instruction to settle such funds to your Global Accountyou. You further agree and understand that the receipt of funds by VGSI from such third party Payers, pursuant to instructions you have provided, satisfies the Payer’s obligation to you. In accepting this appointment as your limited payments agent, you agree that VGSI assumes no liability for any of your acts or omissions, and you understand that the obligation of VGSI to settle funds in accordance with this provision is subject to and conditional upon the Payer’s actual payment and the terms of this Schedule. 4.2 In the event that VGSI accepts payments on your End Customer’s behalf, you agree and understand that you must provide express instructions to your End Customers regarding the operation of the Spark Service as set forth in your Commercial Agreement. Such instructions will include information sufficient for them to understand that payments made for the benefit of End Customers are being processed by VGSI on their behalf, even if such funds ultimately settle to your Global Account, as set forth in your Commercial Agreement. You shall require your End Customers to provide Payers with a Receipt confirming receipt of payment when such payment is received from Payer by VGSI. Accordingly, in connection with such transactions, you authorize us to act as your End Customer’s agent for the limited purposes of receiving, holding, and disbursing to your Global Account such funds received from Payers on your End Customer’s behalf. You agree and understand that the receipt of funds by us from a Payer, pursuant to instructions you have provided the End Customer, satisfies the Payer’s obligation to your End Customer. You will obtain, on ourour behalf, End Customer agreement to any additional terms and conditions necessary to effect this appointment as your End Customer’s agent.