Zero Balance Account definition

Zero Balance Account means an account which, according to the Servicer's records, has had a balance of zero for a period of time in accordance with the Credit Guidelines.

Zero Balance Account means an Account with a Receivable -------------------- balance of zero.

Zero Balance Account means an Account with a Receivable balance of zero which the Transferor designates under subsection 2.07(d).

Examples of Zero Balance Account in a sentence

• The risk of loss or damage to such materials from any other cause from the time of delivery to the Seller to the time of redelivery to the Buyer shall be borne by Seller.

• Within 30 days after the Effective Date, the Servicer will send to each Affected Consumer, by first class U.S. mail, the Notice, consisting of (i) a copy of the Notice to Affected Consumers of Discontinuance of Billing and Collection, in the form of Exhibit A hereto, and (ii) an account statement reflecting an updated balance of $0 for each of the Affected Consumer’s Affected Loans, in the form of the sample Form of Zero Balance Account Statement attached hereto as Exhibit B.

• Zero Balance Account Closure Policy We may restrict your access to your savings or money market account if you have a zero balance in the account.

• A Zero Balance Folio is similar to a Zero Balance Account in the bank where in you would be allotted a Folio number.

• A Zero Balance Account is a former Designated Account that has had a nil balance of receivables for a considerable period of time and has been identified by the Servicer as a Zero Balance Account under its usual servicing procedures and has been removed from its system of record.

More Definitions of Zero Balance Account

Zero Balance Account means a zero balance account of a Loan Party maintained by Bank of America, N.A. (or any other financial institution with the consent of the Administrative Agent, such consent not to be unreasonably withheld or delayed); provided that, (a) such account must have the zero balance function active at all times, (b) no Loan Party may have the ability to disable the zero balance function on such account, and (c) such account may not contain a balance of more than $0 for more than twenty four hours (for the avoidance of doubt, (i) zero balance accounts shall be considered Deposit Accounts and (ii) should any Deposit Account fail to meet any of the requirements in the foregoing proviso, then such Deposit Account shall cease to be a Zero Balance Account at such time and shall be subject to the applicable requirements of Section 6.26).

Zero Balance Account means an Account with a Receivable balance of zero which the Servicer will remove from its computer master file of VISA, MasterCard and American Express accounts.

Zero Balance Account means an Account with a Receivable balance of zero which the Servicer will remove from its computer master file of VISA and MasterCard accounts.

Zero Balance Account any Deposit Account that at the end of any given Business Day contains a balance of zero due to automatic transfers of amounts held in such Deposit Account into other Deposit Accounts subject to a Control Agreement.

Zero Balance Account is defined as a bank account(s) on which Checks are written or other transactions occur even though the balance in the Account(s) is targeted to be maintained at zero. Debits to the Zero Balance Account are covered by a transfer of funds from the concentration or primary account (“Concentration Account”), and Credits are transferred to the Concentration Account. Bank shall not be liable for the failure to pay any Item presented for payment against any Zero Balance Account due to insufficient funds in the Concentration Account. The transfer of funds to or from a Money Market Deposit Account is subject to maximum limitations established by Bank.

Zero Balance Account means, as of any date of determination, an Account with a Receivable balance of zero and in which there has been no activity for the twelve calendar months preceding such date of determination.

Zero Balance Account means an account that allows daily transaction activity and at the end of the day sweeps the resulting balance to another account so that the account balance is zero at the end of the day.