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Financial Services Agreement

 

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Title:

Financial Services Agreement

Entities:

Cash Systems, Inc.; OCM Holdco, LLC

Date:

2006

Size:

Preview shows 10KB of 27KB total

Price:

$37

ID:

#2492766

 

 

► Services ► Services Agmt. ► Financial Services Agreements
► Financial ► Consumer Financial Services

 

 

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FINANCIAL SERVICES AGREEMENT

 

This Agreement is made by and entered into by and between CASH SYSTEMS, INC., a Delaware corporation (CSI), located at 7350 DEAN MARTIN DRIVE, SUITE 309, LAS VEGAS, NEVADA, 89139, MANDARIN ENTERPRISES, LLC. Located at 6121 SUNDOWN CREST CT., LAS VEGAS, NEVADA, 89113 (Contractor) and THE CANNERY CASINO located at 2121 EAST CRAIG ROAD, NORTH LAS VEGAS, NEVADA, 89030 (Service Center), (with CSI, Contractor and Company hereinafter sometimes referred to as party or parties, with reference to the following):

 

RECITALS

 

WHEREAS, The Service Center owns and operates the location(s), (the Location(s)); listed on Exhibit B and,

 

WHEREAS, CSI is engaged in the business of providing cash advance services (hereinafter Cash Access Services) whereby authorized holders (individually the Cardholder of certain valid credit and ATM/debit cards (individually the Card) may obtain cash advances (individually a Cash Advance) through the use of CSI equipment, for a service charge, subject to the Cardholders available Card limit and/or account balance, proper authorization of the transaction, and the CSI approved internal security procedures of Service Center; and

 

WHEREAS, CSI and Contractor are engaged in the business of providing automated teller machines (ATM) whereby CSI, through a bank or banks (Settlement Bank) and processor, settles funds accessed through ATMs (ATM Processing Services); and

 

WHEREAS, CSI and Service Center are desirous of entering into this Agreement, under the terms of which CSI shall become the exclusive supplier of Cash Advance Services and ATM Processing Services to the Service Center at the Location; and,

 

NOW, THEREFORE, for good and valuable consideration, CSI, Contractor and Service Center agree as follows:

 

AGREEMENT

 

1.             Provider Status. CSI shall have the right to be the sole and exclusive supplier of Cash Access Services and ATM processing Services to the Service Center at the Location, and any additional gaming entities that Service Center may operate, during the term of this Agreement.

 

2.             Cash Access Services.

 

(a)           Maintenance of System. CSI shall provide the Location with equipment, related software and processing systems necessary to process Cash Advance transactions in accordance with this Agreement (Cash Advance System). The Cash Advance System will remain the property of CSI, to be used exclusively by the Service Center for the duration of this Agreement. Service Center will be responsible, and reimburse CSI, for any part of the Cash Advance System provided by CSI to the Service Center which is lost or damaged. CSI will provide all supplies necessary to operate the Cash Advance System installed at the Location. If the Cash Advance System should fail, the Service Center will notify CSI immediately. CSI will take reasonable action, in its discretion, to return the Cash Advance system to working order.

 

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(b)           Draft Completion Procedures. The mandatory procedures for completing any Cash Advance transaction are as follows:

 

(i)            If the Card has a Valid From Date embossed on it, the date of the Cash Advance transaction must be on or after the Valid From date and before the Expiration Date embossed on the Card.

 

(ii)           The date of the transaction must be on or before the Expiration Date embossed on the Card.

 

(iii)          A valid authorization code must be obtained from CSI for each Transaction.

 

(iv)          The number in red on the upper right-hand corner of the draft must match the number printed directly below it.

 

(v)           The Cardholder (i) must be physically present for the transaction, and (ii) must initial the front of the draft to acknowledge that he or she will be charged a service fee in addition to the amount requested by the cardholder.


 

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