merchant-agreement

50
(f) the fees, charges and other payments you owe or may come to owe us under
clause 13.2.
10.15. We will not lift the fi xed balance from your nominated account until your entire
liability to us whether actual or contingent has been satisfi ed in full. We are under
no obligation to provide alternative fi nancial accommodation in the interim.
10.16. You agree that the nominated account is not intended to be a ‘circulating asset’
for the purpose of the PPSA.
10.17. Nothing in this clause 10:
(a) affects our ability to exercise any rights of set-off arising by law, this agreement
or the terms of the nominated account; or
(b) is intended to create a charge.
10.18. Whether or not we have imposed a fi xed balance if, due to increased transaction
volumes, chargebacks, a change in the ownership of your business or in the nature
of your business or the types of transactions you process, the risk we assume in
providing the merchant services increases we may as a condition of continuing to
provide the merchant services to you, require a guarantee and indemnity and or
security over property of a type and value to be reasonably determined by us.
10.19. If your nominated account is held with another fi nancial institution you irrevocably
appoint any one of our employees whose title includes the words “head of” or
“manager” as attorney and or agent to:
(a) do any of the things contemplated in this agreement with respect to your nominated
account; and
(b) request that the fi nancial institution at which your nominated account is held to
immediately advise us of:
(i) the balance of the nominated account; and
(ii) any steps you take to close the nominated account, subject it to any form of
security; and
(iii) any action taken by any creditors with respect to its value; and
(c) exercise any of these rights and entitlements pursuant to any direct debit request
you have signed in our favour.