Terms of Enrollment in Program. 1.1 Merchant Deposit Agreement. Merchant shall execute an agreement (the "Merchant Deposit Agreement") acceptable to GCF with a Bank acceptable to GCF to obtain electronic fund transfer services for the Merchant's account at the Bank approved by GCF (the "Account"). Merchant shall provide GCF and/or its authorized agent(s) with all of the information, authorizations and passwords necessary for verifying Merchant's receivables, receipts, deposits and withdrawals into and from the Account. Merchant hereby authorizes GCF and/or its agent(s) to deduct from the Account the amounts owed to GCF for the receipts as specified herein and to pay such amounts to GCF. Merchant also hereby authorizes GCF to withdraw from the Account the specified percentages and/or sums by GCF debiting the account. These authorizations apply not only to the approved Account but also to any subsequent or alternate account used by the Merchant for these deposits, whether pre-approved by GCF or not. This additional authorization is not a waiver of GCF entitlement to declare this Agreement breached by Merchant as a result of its usage of an account that GCF did not first pre-approve in writing prior to Merchant's usage thereof. The aforementioned authorizations shall be irrevocable without the written consent of GCF.
Terms of Enrollment in Program
