Terms of Service
Last Updated: October 2023. Please read these terms carefully before using our services.
Account for all obligations Company may owe to Fusebox portal, without regard to whether the obligations relate to Transactions initiated or processed before or after the initiation of the Bankruptcy Proceeding.
4.4. Remedies Cumulative
The rights conferred upon Fusebox portal in this Agreement are not intended to be exclusive of each other or of any other rights and remedies of Fusebox portal under the Agreement, at law or in equity. Rather, each and every right of Fusebox portal under the Agreement, at law or in equity, is cumulative and concurrent and in addition to every other right.
5. Term and Termination
5.1. Term
Unless terminated as provided below, the Agreement will remain in effect for a period of three years ("Initial Term") following the date of acceptance of the Company Application by Fusebox portal, which date will be the date upon which the Agreement becomes effective. Thereafter, the Agreement will renew automatically for successive two year terms (successive six month terms with respect to Canada) ("Renewal Term") unless terminated as provided below. If Company processes Transactions beyond the Initial Term or Renewal Term, then the terms of the Agreement will govern such Transaction processing.
5.2. Termination
(a) By Company.
(i) Company may terminate the Agreement effective at the end of the Initial Term or any Renewal Term by providing written notice of non-renewal to Fusebox portal at least 30 days prior to the expiration of the then current term.
(ii) Company may terminate the Agreement if Fusebox portal has failed to perform a material obligation under the Agreement and such failure remains uncured for 30 days after Company notifies Fusebox portal in writing of the existence of the failure.
(iii) Company will have the termination right stated in Section 18.17 if a Force Majeure occurs.
(b) By Fusebox portal. Fusebox portal may terminate the Agreement, in whole or in part, at any time with or without cause.
5.3. Notice of Termination
To be effective, Company's termination request must be completed on a form available from Fusebox portal, and at a minimum, must include the name of the Company and Merchant Identification Number, and must be signed by the principal owners of Company. In those limited instances where Company's account is reinstated by Fusebox portal following termination by either Company or Fusebox portal, all of Company's obligations under the Agreement are likewise reinstated and will renew for successive two year Renewal Terms effective on the date of reinstatement.
5.4. Actions Upon Termination
(a) Account Closing.
(i) Company acknowledges that closing Company's account with Fusebox portal may take up to 30 days following Fusebox portal's receipt of written notice of termination.
(ii) All obligations of a party regarding Transactions serviced prior to termination will survive termination. Company will maintain enough funds in the DDA following termination to cover all Chargebacks and returns, adjustments, fees, fines, penalties, assessments and charges from the Payment Networks and other amounts due under the Agreement for at least 180 days after termination.
(iii) Funds related to Transactions processed prior to termination may be placed in a Reserve Account until Company pays all amounts Company owes Fusebox portal and any other amounts for