Program Merchants definition

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Program Merchants means manufacturers, dealers, merchants, providers, distributors, retailers, contractors or installers of goods or services in the home improvement industry vertical (and such other industry verticals as Lender may agree to in writing from time to time) that have been approved in accordance with the Program Merchant Underwriting Process and have entered into Program Agreements.

Program Merchants means manufacturers, dealers, merchants, providers, distributors, retailers, contractors and installers of goods and services that have entered into Program Agreements to be authorized to participate in the GreenSky® Program. “Regulatory Termination Event” shall have the meaning given to such term in Section 6.05. “Servicer” shall have the meaning set forth in the Recitals hereto. “Servicing Agreement” shall have the meaning set forth in the Recitals hereto. “Servicing Fee” shall have the meaning given to such term in the Servicing Agreement. “Settlement Amount” shall mean the amounts advanced by Lender to Borrowers or on behalf of Borrowers that constitute disbursements of Loans to Borrowers. “Settlement Date” shall mean each Business Day on which Servicer notifies Lender of a Net Settlement Amount as provided in Section 2.01(b)(i) below. “Sponsors” shall mean sponsors of Program Merchants that refer Program Merchants to participate in the GreenSky® Program. “UCC” shall mean the Uniform Commercial Code as in effect in the applicable jurisdiction.

Examples of Program Merchants in a sentence

In order to participate in the Acquirer Program, Merchants shall be required to enter into an addendum to Acquirer’s existing Merchant Services Agreement.
Servicer shall maintain policies and procedures governing the selection of Program Merchants and the oversight of the Program Merchants’ compliance with the GreenSky® Program, as currently set forth in Servicer’s Merchant Underwriting Policy and Guidelines and Merchant Management Guidelines (as such policies may be amended, restated or superseded from time to time in Servicer’s discretion).
Notwithstanding anything to the contrary contained in this Loan Origination Agreement, but subject to applicable Law, Servicer may share any portfolio data associated with the Loans that does not contain personal identifying information of a Borrower and does not identify Lender by name with the Program Merchants and Sponsors, potential and actual financing sources and investors for Servicer’s business, Servicer’s business partners and professional advisors.
IPAYMENT shall be solely responsible for, and reimburse SERVICERS for, any and all costs arising out of or related to the transfer of the BINs and ICAs and deconverting the Program Merchants.
Following expiration or termination of this Agreement, IPAYMENT shall continue to hold all risks associated with transactions processed by SERVICERS prior to the termination or expiration of this Agreement or deconversion of the Program Merchants, including all risk relating to Chargebacks and fraudulent transactions.
IPAYMENT shall at all times maintain an adequate and qualified staff to perform underwriting and credit reviews of Program Merchants.
As program administrator of the GreenSky® Program, Servicer shall use commercially reasonable efforts to maintain and develop the network of Program Merchants participating in the GreenSky® Program as a source for Loans to be made by Lender pursuant to this Loan Origination Agreement.
As program administrator of the GreenSky® Program, Servicer shall use commercially reasonable efforts to maintain and develop the network of Program Merchants participating in the GreenSky® Program as a source for Loans to be made by Lender pursuant to this Origination Agreement.
Lender agrees that, by participating in the GreenSky® Program, neither it nor its Affiliates will provide Program Merchants and Sponsors with close-end loan customer financing for goods or services offered by Program Merchants and Sponsors other than pursuant to this Loan Origination Agreement during [*****].
At Merchants written request, American Express will consider in good faith making a temporary advance of Program Merchants share of any arbitration fees, or paying for the reasonable fees of an expert appointed by the arbitrator for good cause.

More Definitions of Program Merchants

Program Merchants means manufacturers, dealers, merchants, providers, distributors, retailers, contractors or installers of goods or services that have entered into Program Agreements.

Program Merchants has the meaning set forth in the Origination Agreement.