Merchant Payment Processor definition

Merchant Payment Processor means any servicing or processing agent or any factor or financial intermediary who facilitate, services, processes or manages the authorization, billing, transfer, payment and/or other procedure from a Credit Card Issuer, bank, consumer payment facilitator or other Person with respect to any sales transactions of the Borrower involving credit, charge or debit card purchases, check purchases or cashing, or other method of consumer payment.
View Source

Examples of Merchant Payment Processor in a sentence

  • So long as no Event of Default exists or has occurred and is continuing, a Borrower shall settle, adjust or compromise any claim, offset, counterclaim or dispute with any account debtor or Merchant Payment Processor.

  • Agent shall have received Merchant Payment Direction Letters with respect to each Merchant Payment Processor (other than Telecheck, Inc., it being understood and agreed that the fact that such documentation is not required prior to Closing shall in no way be construed as a waiver of Agent's right to require the delivery of such documentation in the future) with whom any Borrower has entered into a Merchant Payment Agreement.

  • At any time that an Event of Default exists or has occurred and is continuing, Lender shall, at its option, have the exclusive right to settle, adjust or compromise any claim, offset, counterclaim or dispute with account debtors or Merchant Payment Processor or grant any credits, discounts or allowances.

  • At any time that an Event of Default exists or has occurred and is continuing, Agent shall, at its option, have the exclusive right to settle, adjust or compromise any claim, offset, counterclaim or dispute with account debtors or Merchant Payment Processor or grant any credits, discounts or allowances.

  • No credit, discount, allowance or extension or agreement for any of the foregoing shall be granted to any account debtor or Merchant Payment Processor without Agent's consent, except in the ordinary course of Borrowers' business in accordance with practices and policies previously disclosed in writing to Agent and except as set forth in the schedules delivered to Agent pursuant to Section 7.1(a) above.

  • The FX partner will then forward the appropriate arbitrages currency for settlement to the following as directed: Merchant, Payment Processor or Prepaid Card Bin Issuer.

  • No credit, discount, allowance or extension or agreement for any of the foregoing shall be granted to any account debtor or Merchant Payment Processor without Lender’s consent, except in the ordinary course of Borrower’s business in accordance with practices and policies previously disclosed in writing to Lender and except as set forth in the schedules delivered to Lender pursuant to Section 7.1(a) above.

  • At any time that an Event of Default exists or has occurred and is continuing, at Lender’s request, all invoices and statements sent to any account debtor or Merchant Payment Processor shall state that the Accounts and such other obligations have been assigned to Lender and are payable directly and only to Lender and Borrower shall deliver to Lender such originals of documents evidencing the sale and delivery of goods or the performance of services giving rise to any Accounts as Lender may require.

  • So long as no Event of Default exists or has occurred and is continuing, Borrower shall settle, adjust or compromise any claim, offset, counterclaim or dispute with any account debtor or Merchant Payment Processor.

  • At any time that an Event of Default exists or has occurred and is continuing, at Agent's request, all invoices and statements sent to any account debtor or Merchant Payment Processor shall state that the Accounts and such other obligations have been assigned to Agent and are payable directly and only to Agent and each Borrower shall deliver to Agent such originals of documents evidencing the sale and delivery of goods or the performance of services giving rise to any Accounts as Agent may require.

Related to Merchant Payment Processor

  • Payment Processor means any Person providing Payment Processing services in connection with another Person’s sale of goods or services, or in connection with any charitable donation.

  • Lockbox Processor means Regulus Group II LLC, or its successors or assigns.

  • Collection site means the location of waste containers on collection day.

  • Data Processor means an entity that processes Personal Data on behalf of a Data Controller.

  • Payment Services means such Services as We provide in relation to payments into and out of Your Account.