Merchant account termination, and or early termination fees. What happened?

On May 22, 8:35 pm, "Viper" <ven...@gmail.com> wrote:
> MagikLair wrote:
> > Hello,
> > I had posted a previous message and it looks like it was deleted. I
> > guess my subject and content was too much... For the newsgroup, which
> > is somewhat ridiculous since people post about pirated software etc.
>
> What star? I dont see any star in my news reader? And I do see your old
> post.
> Please stop using google groups and get a REAL news feed.

I apologize for the double post. I not much for the news feeds... I
don't post that many messages. I read the merchant account agreement.
http://www.vagnavs.com/cts_agreement.pdf

16 Early Cancellation Fee
16.1 If (a) you elect to cancel this Merchant Application and
Agreement prior to the expiration of the initial thirty-six (36) month
term, or (b) this
Merchant Application and Agreement is terminated by us prior to the
expiration of the initial term due to an Event of Default, we will
suffer a substantial injury for which it is impracticable or extremely
difficult to fix actual damages. In an effort to liquidate in advance
the sum that should represent such damages, you agree to pay us as an
"Early Cancellation
Fee" in the amount of three hundred dollars ($300.00). This sum
represents a reasonable pre-estimate of the losses that we will incur
as a result of the cancellation of this Merchant Application and
Agreement prior to the expiration of the initial term of the Merchant
Application and Agreement.

But if they terminate it for prohibited transactions, I do not see any
mention of any early cancellation fees.

thanks,
Brian