The Acquiring Bank may revise the statement of charges from time to time, and the Acquiring Bank will notify the Merchant in writing of the new fees to be payable and the date upon which the same shall become payable, (hereinafter called “the Effective Date”) at least 30 (thirty) days prior to the Effective Date. The Merchant shall confirm in writing to the Acquiring Bank their acceptance of the new fees. If the Acquiring Bank does not receive the Merchant written acceptance of the new fees, within a period of 60 days, the Merchant shall be deemed to have accepted the new fees and shall be bound to pay the new fees from the Acceptance Date. If the Merchant notified the Acquiring Bank in writing within 60 (sixty) days from the date of our notification of the change in fees that the Merchant does not accept the new fees, this Agreement shall be deemed terminated on the Effective Date, but without prejudice to the prior rights or liabilities of the parties hereto;