Network Organization definition
Examples of Network Organization in a sentence
Bank may, as part of the Services, use all reasonable efforts to perform such acts and do such things as may be required by a Network Organization to assist Company in obtaining such membership(s), including sponsoring the Company in the Network Organization(s).
Company shall obtain and maintain in full force and effect at all times during the term of this Agreement all insurance that may be required to be obtained from time to time by Bank, any government agencies, any Network Organization or reasonably prudent business practices, and will, upon request, provide Bank with written evidence of such insurance.
Both Parties shall obtain and maintain in full force and effect at all times during the term of this Agreement all insurance that may be required to be obtained from time to time by any government agencies, any Network Organization or reasonably prudent business practices, and will, upon request, provide the other Party with written evidence of such insurance.
The Bank shall use due care in performing all the Bank Services hereunder and in complying with all Association Rules, Network Organization rules or Clearing System Rules, including but not limited to those concerning membership and its sponsorship of NDPS and/or GPI Canada.
Company shall take all actions required from time to time by any Network Organization in connection with the Services, and shall pay all fees, charges, fines, penalties or other costs assessed from time to time by any Network Organization in connection with the Services related to Company’s acts or omissions.
NDPS and/or GPI Canada shall use due care in performing all NDPS Services hereunder and in complying with all Association Rules, Network Organization rules or Clearing System Rules, including, but not limited to, those concerning the processing of Chargebacks and Credit Losses, dispute resolutions, and arbitration.
If any audit by an auditor designated by a party or a Governmental Entity or Credit Card Association, or Network Organization having jurisdiction over the Bank or NDPS and/or GPI Canada, as applicable, results in a party being notified that it is not in compliance with applicable Laws, Association Rules or Clearing System Rules the party shall, within the period of time specified by such auditor or regulatory authority, use Commercially Reasonable Efforts to comply with such audit or regulatory authority.
In the event a Network Organization bills Bank or requires Bank to pay any such fees, charges, fines, penalties or other costs, Bank shall provide an invoice or written notice to Company of such assessed amounts, and Company shall, at the direction of Bank, pay such amounts directly to the Network Organization or reimburse Bank on demand for such amounts in the manner specified in Section 3.02 above.
Within the past twelve months and except as set forth on Schedule 8.7, the Purchaser has not received notice from any Network ------------ Organization or Card Association that the Purchaser is not in compliance with any Association Rules or Clearing System Rules and has not received notice of the assessment of any fines or penalties due from the Purchaser to a Card Association or Network Organization.
Such use shall be in full compliance with the Network Organization’s Operating Regulations, and such other terms and conditions specified by such Network Organization.