BANCORP BANK (THE); PHOENIX PAYMENT SYSTEMS, INC. DBA ELECTRONIC PAYMENT EXCHANGE (EPX)

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3.2. Data Connection. In the event Merchant requires the installation of a dedicated data connection for electronic transmissions to EPX, Merchant will sign a separate agreement, EPX Third Party Connection Agreement, which provides policy and guidelines for the use of network and computing resources associated with the data connection. Merchant shall make arrangements for such installation and the maintenance thereof with EPX. EPX shall coordinate the installation and maintenance of the dedicated data connection. Merchant shall pay EPX for all costs related to the installation and maintenance of the dedicated data connection. 4. Bank Obligations and Requirements. 4.1. Bank to Provide Services to Merchant. Bank agrees to sponsor Merchant's acceptance of Cards for Transactions. Bank and EPX, as applicable, agree to provide Merchant with the Services indicated on Schedule A, as amended from time to time by Bank or EPX, during the term of this Agreement, subject to the terms and conditions of this Agreement. 4.2. Daily Reconciliation of Transactions. i. Electronically Transmitted Transactions. Transactions will be settled on a daily basis. Bank shall deliver payment to Merchant by a credit to the Operating Account equal to the reconciled summary of Merchant's total summary Transactions since the previous credit. This credit will be net of following charges: 1. The sum of all Cardholder charges denied, refused or charged back; 2. All refunds processed on account of Cardholders during said time period; 3. All taxes, penalties, charges and other items incurred by Bank or EPX that are reimbursable pursuant to this Agreement; and 4. All rates, fees and charges in Schedule B. ii. Provisional Credit. Any credits to the Operating Account are provisional only and subject to revocation by Bank until such time that the Transaction is fmal and no longer subject to chargeback by the Issuer, Cardholder or Associations. 4.3. Merchant Statement. Bank or EPX shall make available a Merchant Statement on a daily and month- end basis. All information appearing on the Merchant Statement shall be deemed accurate and affirmed by Merchant unless Merchant objects by written notice specifying the particular item in dispute within thirty (30) days of the date of the Merchant Statement. Delivery of the Merchant Statement shall be in electronic form. 4.4. Charz?ebacks. Bank shall be authorized to charge back to Merchant any Transactions as specified throughout this Agreement and/or under any of the following circumstances: 1. No specific prior authorization for the Transaction was obtained from the EPX System; 2. The Transaction was based on a pre-authorization form and the Card on which the Authorization was based has been cancelled and Merchant was so notified prior to the Transaction- 3. The Card giving rise to the Transaction was cancelled and prior to, or at the time of, the Transaction, Merchant received notice of the cancellation through the electronic terminal, in writing or otherwise; 4. The Card expired prior to the date of the Transaction or the date of Transaction was prior to the validation date, if any, indicated on the Card; 5. The information required in Paragraphs 9.1 (Documenting Transactions) and 9.2.iii (Card- Not-Present Transactions) was not submitted to Bank; 6. Bank or Issuer has received a complaint from or on behalf of a Cardholder stating that there is an unresolved dispute or defense to a charge (whether or not valid) between Merchant and Cardholder; 7. The Cardholder makes a written complaint to Bank or Issuer that the Cardholder did not make or authorize the Transaction; Initials Page 5 of 19