Virginia ATM Service Agreement

State:
Multi-State
Control #:
US-EG-9125
Format:
Word; 
Rich Text
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Description

ATM Service Agreement between WORLDCOM Technologies, Inc. and Telocity, Inc. dated August 23, 1999. 12 pages
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FAQ

The ATM processing agreement lists your rights and obligations as the ATM owner as well as the rights and obligations of the ATM processor. This will be the legal contract between you and the ATM processor that runs your ATM machine program. This contract also ensures your payment as agreed upon.

Buying your own ATM is very profitable, Daniel said, and between 15 and 30 transactions a month can yield a high return. ?[It's] a great secondary source of income that could equal anywhere between $20,000 and $30,000 extra per year,? he said.

The contract should specify the location where the ATM will be installed and the responsibilities of each party related to the installation, maintenance, and repair of the machine. This may include requirements for electrical and phone line connections and any necessary permits or approvals.

An ATM agreement or ?at-the-market? (?ATM?) agreement is one in which newly issued securities are sold at a price related to the current market price of the securities. The continuous offerings mechanism provides a flexible way for issuers to raise modest amounts of capital with minimal market impact.

Minimal market effect. The announcement of an ATM offering typically results in a lower share-price decline than traditional follow-on equity offerings.

6(a) of Form S-3 (referred to as ?baby shelf? rule), which limits the amount the issuer can offer to up to one-third of the public float during any trailing 12-month period. This one-third limitation will apply to securities sold in any primary offering, including an offering made pursuant to the ATM program.

An ?at-the-market? (?ATM?) offering is an offering of securities into an existing trading market for the securities at a price or prices related to the then-market price of the securities.

An at-the-market offering (ATM) takes place after a company goes public, as a sort of follow-up. In an ATM, a company can offer secondary public shares on any given day, usually depending on the prevailing market price, to raise capital.

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Virginia ATM Service Agreement