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Rev. 2024-08-06 pg. 9 <br /> <br />7.5. Sub-merchant is subject to any adverse legal or regulatory actions by governmental or <br />non-governmental entities; or <br />7.6. Sub-merchant fails to remediate and resolve risks identified by Provider in a timely <br />fashion; or <br />7.7. Provider reasonably believes that there has been a material deterioration in Sub-merchant's <br />financial condition; or <br />7.8. Any standby letter of credit, if and as may be required, will be cancelled, will not be <br />renewed, or is not in full force and effect; or <br />7.9. Sub-merchant ceases to do business as a going concern, or there is a change in ownership <br />of Sub-merchant which changes the identity of any person or entity having, directly or indirectly, <br />more than 25% of either the legal or beneficial ownership of Sub-merchant; or <br />7.10. Sub-merchant is otherwise in default of any terms or conditions of this Agreement <br />whether by reason of its own action or inaction or that of another, and fails to cure such default <br />within thirty (30) days of Provider’s notice of default. <br />Upon the occurrence of an Event of Default, Provider may at any time thereafter terminate this <br />Agreement by giving Sub-merchant written notice thereof, and all amounts owed to Provider shall <br />be immediately due and payable with no further notice. <br />8. Term and Termination. <br />8.1. The term of this Agreement shall begin, and the terms of this Agreement shall be deemed <br />accepted and binding, on the date Provider processes the first transaction for Sub-merchant and <br />shall continue for the Initial Term. Except as hereafter provided, unless either party gives written <br />notice to the other party at least ninety (90) days prior to the expiration of any term, the Agreement <br />shall be automatically extended for additional periods equal to the Initial Term. <br />8.2. Notwithstanding the foregoing, Provider may immediately cease providing Services <br />and/or terminate this Agreement for cause, without notice if: <br />8.2.1. Sub-merchant fails to pay any amount to Provider or Processor when due; or <br />8.2.2. Provider has received a request from Processor, Member Bank, or the Associations <br />to terminate this Agreement; or <br />8.2.3. Provider believes that the provision of a service to Sub-merchant may be a violation <br />of the Operating Regulations or applicable law or regulation; or <br />8.2.4. Provider believes that Sub-merchant has violated or is likely to violate the <br />Operating Regulations or applicable law or regulation; or <br />8.2.5. Provider believes that Sub-merchant poses a financial or regulatory risk to Provider, <br />Processor, Member Bank or an Association; or <br />8.3. If Sub-merchant is terminated for cause, including but not limited to the reasons in Section <br />8.2 above, Provider may report Sub-merchant’s business name and the names and other <br />identification of its principals to the Terminated Merchant File. Sub-merchant expressly agrees