Common use of Credit Cards Clause in Contracts

Credit Cards. During the term of this franchise, Franchisee shall be entitled to grant credit to holders of credit cards which may be issued by CITGO and/or issued by other companies listed in CITGO’s then current credit card regulations, a copy of which has been provided to Franchisee. It is specifically understood that the granting of credit shall be pursuant to the terms and conditions set forth in such credit card regulations including that such credit extension shall be only in conjunction, with the sale of CITGO products and that CITGO shall have the right in its sole discretion to amend or terminate such regulations and discontinue its credit card program at any time. Franchisee agrees that all credit card invoices which it may transmit and assign to CITGO shall be in conformity with CITGO’s credit card regulations and that CITGO may reject or charge back any credit card invoices not conforming to said instructions. Franchisee further agrees that upon such rejection or charge back, the value of the credit card invoices which were rejected or charged back shall become immediately due and owing from Franchisee to CITGO and may be deducted from subsequent checks for payment of credit card invoices. All credit card invoices shall be forwarded by registered mail or other means authorized by CITGO to such place(s), and at such time intervals, as CITGO may designate, from time to time. Franchisee expressly agrees that CITGO shall have the right but not the obligation to apply the proceeds of credit card invoices or any other credits which may be owing to Franchisee toward the payment of any indebtedness owed by Franchisee to CITGO. Franchisee grants to CITGO a security interest in all credit card invoices and proceeds from such credit card invoices to secure the payment of product purchases from CITGO, and agrees to execute documents reasonably necessary to perfect such security interest.

Credit Cards. During the term of this franchise, Franchisee shall be entitled to grant credit to holders of credit cards which may be issued by CITGO and/or issued by other companies listed in CITGO’s 's then current credit card regulations, a copy of which has been provided to Franchisee. It is specifically understood that the granting of credit shall be pursuant to the terms and conditions set forth in such credit card regulations including that such credit extension shall be only in conjunction, with the sale of CITGO products and that CITGO shall have the right in its sole discretion to amend or terminate such regulations and discontinue its credit card program at any time. Franchisee agrees that all credit card invoices which it may transmit and assign to CITGO shall be in conformity with CITGO’s 's credit card regulations and that CITGO may reject or charge back any credit card invoices not conforming to said instructions. Franchisee further agrees that upon such rejection or charge back, the value of the credit card invoices which were rejected or charged back shall become immediately due and owing from Franchisee to CITGO and may be deducted from subsequent checks for payment of credit card invoices. All credit card invoices shall be forwarded by registered mail or other means authorized by CITGO to such place(s), and at such time intervals, as CITGO may designate, from time to time. Franchisee expressly agrees that CITGO shall have the right but not the obligation to apply the proceeds of credit card invoices or any other credits which may be owing to Franchisee toward the payment of any indebtedness owed by Franchisee to CITGO. Franchisee grants to CITGO a security interest in all credit card invoices and proceeds from such credit card invoices to secure the payment of product purchases from CITGO, and agrees to execute documents reasonably necessary to perfect such security interest.

Credit Cards. During Marketer shall accept as payment from retail customers CITGO approved credit, debit and payment cards (collectively, “Payment Cards”) in accordance with the term provisions of this franchise, Franchisee shall be entitled to grant credit to holders of credit cards which may be issued by CITGO and/or issued by other companies listed in CITGO’s then current credit card guide and regulations, a copy of which has been provided to FranchiseeMarketer. It is specifically understood that the granting of credit shall be pursuant to the terms and conditions set forth in such credit card regulations including that such credit extension shall be only in conjunction, with the sale of CITGO products and that CITGO shall have the right in its sole discretion to amend or terminate such guide and regulations and discontinue its credit card program at any time. Franchisee agrees that all credit card invoices which it may transmit and assign to CITGO shall be in conformity with CITGO’s credit card regulations and that CITGO may reject or charge back any credit card Payment Card invoices not conforming to said instructionsthe credit card guide and regulations. Franchisee Marketer further agrees that upon such rejection or charge back, the value of the credit card Payment Card invoices which were rejected or charged back shall become immediately due and owing from Franchisee Marketer to CITGO and may be deducted from subsequent checks for payment settlements of credit card invoicesPayment Card transactions. All credit card invoices shall be forwarded by registered mail or other means authorized by CITGO to such place(s), and at such time intervals, as CITGO may designate, from time to time. Franchisee Marketer expressly agrees that CITGO shall have the right but not the obligation to apply the proceeds of credit card Payment Card invoices or any other credits which may be owing to Franchisee Marketer toward the payment of any indebtedness owed by Franchisee Marketer to CITGO. Franchisee Marketer grants to CITGO a security interest in all credit card Payment Card invoices and proceeds from such credit Payment card invoices to secure the payment of product purchases from CITGO, and agrees to execute documents reasonably necessary to perfect such security interest. Marketer further agrees to maintain in good working order all of the electronic POS systems located at all CITGO branded stations that are supplied by Marketer. Good working order includes having the POS systems properly configured and operating on the most current version of the application software. CITGO may deactivate the POS system for any station not in compliance.

Credit Cards. During the term of this franchise, Franchisee shall be entitled to Seller may grant credit to holders of credit cards which may be issued by CITGO ALKHALIFA and/or issued by other companies listed in CITGO’s ALKHALIFA's then current credit card regulations, a copy of which has been provided to FranchiseeSeller. It is specifically understood that the granting of credit shall be pursuant to the terms and conditions set forth in such credit card regulations including that such credit extension shall be only in conjunction, conjunction with the sale of CITGO ALKHALIFA products and that CITGO ALKHALIFA shall have the right right, in its sole discretion discretion, to amend or terminate such regulations and discontinue its this credit card program at any time. Franchisee Seller may also grant credit to such ALKHALIFA credit card holders for other items of merchandise sold by Seller at the Premises which are not ALKHALIFA products, but only if Seller has been given specific written permission by ALKHALIFA to extend such credit. Seller agrees that all credit card invoices which it may transmit and assign to CITGO ALKHALIFA shall be in conformity with CITGO’s ALKHALIFA's credit card regulations and that CITGO ALKHALIFA may reject or charge back any credit card invoices not conforming to said instructions. Franchisee Seller further agrees that that, upon such rejection or charge back, the value of the credit card invoices which were rejected or charged back shall become immediately due and owing from Franchisee Seller to CITGO ALKHALIFA and may be deducted from subsequent checks for payment of credit card invoices. All credit card invoices shall be forwarded by registered mail or other means authorized by CITGO ALKHALIFA to such place(s), ) and at such time intervals, intervals as CITGO may designate, ALKHALIFA my designate from time to time. Franchisee expressly agrees that CITGO shall have the right but not the obligation to apply the proceeds of credit card invoices or any other credits which may be owing to Franchisee toward the payment of any indebtedness owed by Franchisee to CITGO. Franchisee grants to CITGO a security interest in all credit card invoices and proceeds from such credit card invoices to secure the payment of product purchases from CITGO, and agrees to execute documents reasonably necessary to perfect such security interest.

Credit Cards. During the term of this franchise, Franchisee shall be entitled to grant credit to holders of credit cards which may be issued by CITGO and/or issued by other companies listed in CITGO’s 's then current credit card regulations, a copy of which has been provided to Franchisee. It is specifically understood that the granting of credit shall be pursuant to the terms and conditions set forth in such credit card regulations including that such credit extension shall be only in conjunction, with the sale of CITGO products and that CITGO shall have the right in its sole discretion to amend or terminate such regulations and discontinue its it's credit card program at any time. Franchisee agrees that all credit card invoices which it may transmit and assign to CITGO shall be in conformity with CITGO’s 's credit card regulations and that CITGO may reject or charge back any credit card invoices not conforming to said instructions. Franchisee further agrees that upon such rejection or charge back, the value of the credit card invoices which were rejected or charged back shall become immediately due and owing from Franchisee to CITGO and may be deducted from subsequent checks for payment of credit card invoices. All credit card invoices shall be forwarded by registered mail or other means authorized by CITGO to such place(s), and at such such, time intervals, as CITGO may designate, from time to time. Franchisee expressly agrees that CITGO shall have the right but not the obligation to apply the proceeds of credit card invoices or any other credits which may be owing to Franchisee toward the payment of any indebtedness owed by Franchisee to CITGO. Franchisee grants to CITGO a security interest in all credit card invoices and proceeds from such credit card invoices to secure the payment of product purchases from CITGO, and agrees to execute documents reasonably necessary to perfect such security interest.