The terms of this Payment AgentAuthorization Addendum (the “Payment Agent Addendum”)are hereby incorporated into, as the case may be, the Software as a ServiceAgreement or other agreement for the provision of the Stuut Platform (“Agreement”)between Stuut, Inc. and the customer identified on the applicable order form orthat has executed the Agreement (“Customer”). Capitalized terms not otherwise defined inthis Payment Agent Addendum shall have the meaning given to them in theAgreement. Except where the context requires otherwise, reference to theAgreement in this Payment Agent Addendum means the Agreement as amended by, andincluding, this Payment Agent Addendum.
1. Receivables.
The Stuut Platform enables Customerto, for its internal business purposes, process outstanding accountsreceivables (“Receivables”). Customer agrees that use of the Stuut Platform includes Stuut processingReceivables on Customer’s behalf.
2. Authorizationto Collect Receivables.
All Receivables are credited toCustomer in accordance with Stuut’s payment policies and procedures and subjectto Stuut’s agreements with third party payment processors. Customer agrees toprovide all information reasonably requested by Stuut to support thesecollection and processing activities. Byusing the Stuut Platform, Customer hereby expressly appoints Stuut as itslimited payment collection agent solely for the purpose of collectingReceivables held by third parties (“Payors”) on Customer’s behalf(“Payment Agent”). Customer agrees that any payment ofReceivables made by a Payor to Stuut shall be considered the same as a paymentmade directly to Customer. In acceptingappointment as Payment Agent of Customer, Stuut assumes no liability for anyacts or omissions of Customer.
3. RemittingAmounts.
As Payment Agent of Customer, Stuutshall remit funds to Customer upon Stuut’s receipt of the associatedReceivables from the applicable Payor. Stuut guarantees payments to Customer only for such amounts that have beensuccessfully received by Stuut from the applicable Payor.
4. Interpretation.
To the extent of any conflict orinconsistency between the terms of the Agreement and this Payment AgentAddendum, the terms of this Payment Agent Addendum will prevail.
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