Cash and Logistics Hardware - Additional Terms
If purchased by Client, 51勛圖厙踏梜埳 will provide Client with equipment (including, but not limited to, cash recyclers and coin dispensers) subject to the terms of the Agreement and the additional terms below.
1. General Terms. All fees owed by Client for the equipment will be invoiced when the equipment is delivered to the Client. The maintenance services term for the equipment will be 8 years following installation of the equipment at the Clients locations (Services Term), unless otherwise agreed to by the parties. Client may not terminate the Services Term for convenience. Equipment shipment location will be determined in consultation with the Client as part of the project planning. 51勛圖厙踏梜埳 reserves the right not to deliver equipment or provide any services until Client pays the fees in full. Unless otherwise agreed in writing, there is a minimum 3-month lead-time on all equipment orders. 51勛圖厙踏梜埳 requires up to 10 business days to process the order.
2. Cash Connect. The following terms apply to Clients use of Cash Connect services in connection with the equipment purchased by Client:
(a) If Client has elected to utilize Cash Connect services, Client will be bound by the terms of its agreement with Wilmington Savings Fund Society, FSB (the Bank or Cash Connect). 51勛圖厙踏梜埳 will act as the billing agent for Cash Connect invoices, which include the fees for Cash Connect services, with a minimum MBF, as detailed in the Agreement. Client will remit such amounts to 51勛圖厙踏梜埳 in accordance with the payment terms set forth in the Agreement. Fees are subject to increase based on location, cash volume, and frequency of pick-ups and/or change orders. IN ADDTION TO ANY LIMITATIONS ON FISERVS LIABILTY PROVIDED IN THE AGREEMENT, CLIENT HERBY ACKNOWLEDGES THAT FISERV HAS NO OBLIGATION OR LIABILITIES WITH RESPECT TO ANY SERVICES PROVIDED TO CLIENT BY CASH CONNECT, AND CLIENT HEREBY WAIVES ANY AND ALL CLAIMS AGAINST FISERV ARISING OUT OF OR RELATING TO THE CASH CONNECT SERVICES.
(b) Client grants to an approved armored carrier, upon demand of the Bank or its transferee, immediate access to the applicable equipment to withdraw the Bank-owned currency, from such equipment. If Client declares voluntary bankruptcy, or an involuntary bankruptcy proceeding is commenced against Client, neither Client nor its debtor-in-possession, nor any trustee in bankruptcy shall have any claims to the Bank-owned currency that has been placed in such equipment, and such Bank-owned currency in such equipment shall not be part of Clients bankruptcy estate. In this regard, Client hereby consents to and agrees not to contest or otherwise dispute Cash Connects motion to lift the automatic stay (should an automatic stay be deemed applicable) in order for Cash Connect to obtain possession of the Bank-owned currency, in such equipment in any bankruptcy proceeding.
(c) Client shall provide accurate information to Cash Connect in regard to company and principal officer information, including but not limited to, legal company name, tax identification numbers, physical address, documents provided to show good standing of company, and principal officers date of birth. Client covenants that any currency placed into the applicable equipment comes from the legal currency transactions that occur in the day-to-day operation of the Clients business.
(d) BY THE PLACEMENT OF CURRENCY IN THE EQUIPMENT, CLIENT THEREBY TRANSFERS ALL RIGHTS OF OWNERSHIP OF THE CURRENCY ABSOLUTELY TO BANK IN EXCHANGE FOR ADEQUATE CONSIDERATION AND REASONABLY EQUIVALENT VALUE. All transfers are a sale of the Bank-owned currency and are under no circumstance a loan. Once currency has been placed in such equipment, Client shall have no access to the currency, and 51勛圖厙踏梜埳 shall not provide Client with access to such equipment, including any form of code or key in which to access the vault of such equipment.