Common use of Termination by Merchant Clause in Contracts

Termination by Merchant. Merchant has no right to terminate this Agreement except as provided in this subsection. If Bank fails to perform Bank’s obligations hereunder, and Merchant intends to terminate this Agreement, then Merchant must deliver written notice to Bank stating such intent, identifying the non-performance, and giving Bank the opportunity to remedy such non-performance for a period of sixty (60) days following the date notice is delivered. Upon expiration of such sixty (60) day cure period, if the performance has not been remedied, Merchant may terminate the Agreement upon providing written notice to Bank.