Common use of Passwords Clause in Contracts

Passwords. In the event where Merchant receives a password from Bank to access a transaction system or gateway, Merchant shall: (i) keep password confidential; (ii) not allow any other entity or individual to use password or gain access to Bank’s systems; (iii) be liable for all action taken by any user of the password; and (iv) promptly notify Bank if Merchant believes the confidentiality of Bank’s system or Merchant’s information has been compromised by use of such password.

Passwords. In the event where Merchant receives a password from Bank Service Provider to access a transaction Transaction system or gateway, Merchant shall: (i) keep password confidential; (ii) not allow any other entity or individual to use password or gain access to BankService Provider’s systems; (iii) be liable for all action taken by any user of the password; and (iv) promptly notify Bank Service Provider if Merchant believes the confidentiality of BankService Provider’s system or Merchant’s information has been compromised by use of such password.

Passwords. In the event where Merchant receives a password from Bank or NMS to access a transaction system or gateway, Merchant shall: (i) keep password confidential; (ii) not allow any other entity or individual to use the password or gain access to Bank’s systems; (iii) be liable for all action taken by any user of the password; and (iv) promptly notify Bank and NMS if Merchant believes the confidentiality of Bank’s system or Merchant’s information has been compromised by use of such password.

Passwords. In the event where Merchant receives a password from Bank Service Provider to access a transaction system or gateway, Merchant shall: (i) keep password confidential; (ii) not allow any other entity or individual to use password or gain access to BankService Provider’s systems; (iii) be liable for all action taken by any user of the password; and (iv) promptly notify Bank Service Provider if Merchant believes the confidentiality of BankService Provider’s system or Merchant’s information has been compromised by use of such password.