What Is A Commercial Entity Agreement

Paymentech undertakes to compensate the seller for any losses, liabilities, damages and expenses: (a) resulting from a breach of a warranty, contract or agreement or misrepresentation by all of us in the context of this agreement; or (b) because of gross negligence or wilful misconduct on the part of our employee in this agreement. The seller undertakes to compensate Paymentech for and against all losses, liabilities, damages and costs: (a) resulting from a breach of a warranty, contract or agreement or misrepresentation by the seller in connection with this agreement; (b) as a result of negligence or wilful misconduct by the seller or its employees in connection with transactions or otherwise resulting from the seller`s provision of goods and services to customers; (c) the seller`s use of Service Square; (d) which arise from third-party compensation, Paymentech is bound, or obligations or other obligations that may be incurred by Paymentech as a result of the seller`s actions (including compensation or commitments to a card mark or bank issuing a card). JPMorgan Chase Bank, N.A. or any other organization that provides Paymentech sponsorship, as required by all applicable card marks. Member is a key part of this agreement and your acceptance of Card Brand products is extended by the member. To read agreements for another country or region, change location. This agreement will enter into effect on the date the Seller approves it (through the electronic adoption of this Agreement or by other means) and will be continued as long as the Seller uses the Square Service or until it is terminated by the Seller or Paymentech. This agreement automatically ends with the termination or expiry of your seller`s contract. This agreement may be terminated by Paymentech at any time due to a violation of any of the Seller`s obligations under this Agreement or The Seller`s Agreement or the termination of the payment processing relationship between Square and Paymentech.

In addition, and without limitation of the universality of the above, Paymentech may terminate this contract at any time after written notification to the seller due to one of the following events: (a) improper transactions of the seller, excessive retroregions or other circumstances which, at Paymentech`s discretion, increase Paymentech`s claim or member for the seller`s retimifyors or , by other means, an unduly expected financial situation, reputational or legal risk for Paymentech; (b) the seller materially refuses, with respect to the performance or compliance of a clause, contract or agreement, agreement or agreement of the seller, including, but not limited to, the financing or creation of a reserve account that may require Square; (c) proceedings or other proceedings are initiated by or against the seller in a competent court that requires an exemption under the Bankruptcy Act, or by other laws, domestic or foreign, relating to bankruptcy, insolvency, reorganization, liquidation or adjustment of debts, appointment of a director, a director, a director or the same laws of the seller or any substantial part of the assets. , the seller, and this case or proceeding is prosecuted without due or unexpectedly for a period of 60 consecutive days, or an order to grant the exemption sought in this case or proceedings against the seller (including, but not limited to, an exemption order under the Bankruptcy Act) is introduced; (d) any card mark warns Paymentech or member that it is no longer willing to accept the seller`s transaction data or that Paymentech or member must terminate or limit the agreement; (e) the seller or any person who owns or controls the seller`s activity is listed in one or more databases of resilient or high-risk sellers managed by card brands; or (f) the seller engages in behaviour that includes the value of a card mark, P