Common use of Security Fee Clause in Contracts

Security Fee. 11.1. NuPay may, in its sole discretion, insure and replace all Terminals (excluding Mobile Terminals) at a monthly fee (“Security Fee”) as set out in the NuPay SLA signed by the Merchant’s duly authorized signatories. An administration and reinstallation fee as set out in the NuPay SLA signed by the Merchant’s duly authorized signatories, will be payable on the loss of any Terminal. 11.2. Failing clause 11.1 above NuPay will request the Merchant to insure any Mobile Terminal received from NuPay, and NuPay may, in its sole discretion, request the Merchant to produce proof of such insurance at any time. 11.3. The Merchant shall notify NuPay within a period of 7 (seven) days in writing, by email, or by means of facsimile, of any damage to or loss of any Terminal. 11.4. If the Mobile Terminal is lost, stolen, or destroyed and in the case of 11.2 above the Merchant’s insurer refuses to accept the claim for any reason, then NuPay reserves the right to recover the cost of repairing or replacing the Terminal from the Merchant. 11.5. If any terminal is lost, stolen, or destroyed due to negligence on behalf of the merchant, then NuPay reserves the right to recover the cost of repairing or replacing the Terminal from the Merchant.

Security Fee. 11.1. NuPay may, in its sole discretion, insure and replace all Terminals (excluding Mobile Terminals) at a monthly fee (“Security Fee”) as set out in the NuPay SLA signed by the Merchant’s duly authorized signatories. An administration and reinstallation fee as set out in the NuPay SLA signed by the Merchant’s duly authorized signatories, authorizedsignatories,will be payable on the loss of any Terminal. 11.2. Failing clause 11.1 above NuPay will request the Merchant to insure any Mobile Terminal received from NuPay, and NuPay may, in its sole discretion, request the Merchant to produce proof of such insurance at any timeanytime. 11.3. The Merchant shall notify NuPay within a period of 7 (seven) days in writing, by email, or by means of facsimile, of any damage to or loss of any Terminal. 11.4. If the Mobile Terminal is lost, stolen, or destroyed and in the case of 11.2 above the Merchant’s insurer refuses to accept the claim for any reason, then NuPay reserves the right to recover the cost of repairing or replacing the Terminal from the Merchant. 11.5. If any terminal is lost, stolen, or destroyed due to negligence on behalf of the merchant, then NuPay reserves the right to recover the cost of repairing or replacing the Terminal from the Merchant.

Security Fee. 11.1. NuPay may, in its sole discretion, insure and replace all Terminals (excluding Mobile Terminals) at a monthly fee (“Security Fee”) as set out in the NuPay SLA signed by NuPaySLAsignedby the Merchant’s duly authorized signatories. An administration and reinstallation fee as set out in the NuPay SLA signed by the Merchant’s duly authorized signatories, will be payable on the loss of any TerminalanyTerminal. 11.2. Failing clause 11.1 above NuPay will request the Merchant to insure any Mobile Terminal received from NuPay, and NuPay may, in its sole discretion, request the Merchant to produce proof of such insurance at any timeanytime. 11.3. The Merchant shall notify NuPay within a period of 7 (seven) days in writing, by email, or by means of facsimile, of any damage to or loss of any Terminal. 11.4. If the Mobile Terminal is lost, stolen, or destroyed and in the case of 11.2 above the Merchant’s insurer refuses to accept the claim for any reason, then NuPay reserves the right to recover the cost of repairing or replacing the Terminal from the Merchant. 11.5. If any terminal is lost, stolen, or destroyed due to negligence on behalf of the merchant, then NuPay reserves the right to recover the cost of repairing or replacing the Terminal from the Merchant.