Processing Trial Clause Samples
The Processing Trial clause establishes a defined period during which a party can test or evaluate a process, system, or service before full-scale implementation or acceptance. Typically, this clause outlines the duration of the trial, the criteria for successful completion, and the responsibilities of each party during the trial phase. Its core practical function is to allow the parties to assess the suitability and performance of the process in a controlled environment, thereby reducing risk and ensuring that expectations are met before committing to a long-term arrangement.
Processing Trial. After this Agreement has been executed by P▇▇▇▇▇▇▇▇ and Merchant, Purchaser has the option in its sole and absolute discretion to conduct a processing trial (the “Processing Trial”) to determine whether the Specified Percentage will be correctly processed and/or reported by the Approved Card Processor to Purchaser. If Purchaser elects to conduct a Processing Trial, Merchant acknowledges and agrees that Purchaser will decide in its sole and absolute discretion whether to purchase the Amount Sold after completion of the Processing Trial. If Purchaser elects not to do so, any amounts received by Purchaser during the Processing Trial shall be refunded to the Merchant.
Processing Trial. After this Agreement has been signed by both Merchant and Company but prior to Company’s determination as to whether to pay the Purchase Price, Merchant agrees to permit Company to conduct a short processing trial (the “Processing Trial”) to ensure that Merchant’s Electronic Payment transactions are being correctly processed through Processor or to the Account and that the cash attributable to the Specified Percentage of Receivables will be appropriately remitted to Company. Company agrees to make a determination as to whether to purchase the Specified Amount promptly after the commencement of the Processing Trial. If Company elects to purchase the Specified Amount, then all of the cash received by Company in connection with the Processing Trial prior to the payment of the Purchase Price shall be applied to reduce the Specified Amount. Nothing herein shall create an obligation on behalf of Company to purchase any Future Receivables, and Company expressly reserves the right to not purchase the Specified Amount and not pay the Purchase Price to Merchant. If Company decides to not purchase the Specified Amount and not pay the Purchase Price, this Agreement shall have no further effect and Company shall, promptly after receipt from Processor or the Account, return to Merchant any cash received by Company in connection with the Processing Trial.
Processing Trial. After this Agreement has been signed by both Borrower and Lender but prior to Lender’s loan of the Principal Loan Amount, Borrower agrees to permit Lender to conduct a short processing trial (the “Processing Trial”) to ensure that Borrower’s Electronic Payment transactions are being correctly processed through Processor or to the Account and that the cash attributable to the Final Loan Amount will be appropriately remitted to Lender. Lender agrees to make a determination as to whether to loan the Principal Loan Amount promptly after the commencement of the Processing Trial. If Lender elects to loan the Principal Loan Amount, then all of the cash received by Lender in connection with the Processing Trial prior to the loan of the Principal Loan Amount shall be applied to reduce the Final Loan Amount in accordance with Section 1.13. Nothing herein shall create an obligation on behalf of Lender to loan the Principal Loan Amount, and Lender expressly reserves the right to not loan the Principal Loan Amount. If Lender decides to not loan the Principal Loan Amount, this Agreement shall have no further effect and Lender shall, promptly after receipt from Processor or the Account, return to Borrower any cash received by Lender in connection with the Processing Trial.