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COMMITMENTS AND CONTINGENCIES
6 Months Ended
Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES COMMITMENTS AND CONTINGENCIES

Legal Matters

The Company is involved in certain legal proceedings and claims, which arise in the ordinary course of business. In the opinion of the Company, based on consultations with inside and outside counsel, the results of any of these ordinary course matters, individually and in the aggregate, are not expected to have a material effect on its results of operations, financial condition, or cash flows.


Contingent Consideration for Acquisitions

For information on recognized contingent consideration related to prior business acquisitions, see Note 14, Fair Value.

Under GAAP that applies to asset acquisitions that do not meet the definition of a business, the portion of the unpaid purchase price that is contingent on future activities is not initially recorded by the acquirer on the date of acquisition. Rather, the acquirer generally recognizes contingent consideration when it becomes probable and estimable. For the Company's acquisition of certain
merchant portfolio assets from Direct Connect Merchant Services, LLC in December 2018, the purchase price includes cash contingent consideration of up to approximately $7.3 million, determinable over a period that ends on December 31, 2019. For a separate asset acquisition from another entity that occurred in March 2019 for certain merchant portfolio residual rights (Note 2, Acquisitions and Contributions of Assets), the purchase price includes cash contingent consideration of up to $6.4 million covering a period of time that extends three years from the date of acquisition. Any additional purchase price, if any, will be accounted for when payment to the seller becomes probable and it will be added to the carrying value of the asset.


Commitment to Lend

See Note 10, Related Party and Other Transactions, for information on a loan commitment extended by the Company to another entity.