Merchant Reserves Sample Clauses

Merchant Reserves. Upon request MSP will assist NOVA and Member in coordinating the implementation of such safeguards as NOVA or Member determine is prudent or necessary to create or require, with respect to any Referred Merchant, reserves, holdbacks, deposits or other safeguards against merchant losses. Without limitation as to additional or different safeguards, NOVA or Member may require a Referred Merchant to pay up to 100% of the funds deposited by a Referred Merchant for up to six months or more.
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Merchant Reserves. In the event eVance or Member requires a Merchant to establish reserves, holdbacks, deposits or other safeguards against Merchant Losses, ISO will cooperate with implementation of such safeguards. ISO may not create, require, or hold any such Merchant reserves.
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Merchant Reserves. Secure Bancard has the right at any time to withhold an amount from any settlement of Affected Merchant transactions as provided in the Merchant Agreement and hold such amounts in a reserve account against future chargebacks, returns, fees, and any other amount payable by Affected Merchant to Secure Bancard pursuant to the Merchant Agreement. Other than as utilized by Secure Bancard to cover future chargebacks, returns, fees, or any other amount payable by Affected Merchant to Secure Bancard pursuant to the Merchant Agreement, excess reserve funds will be paid to Affected Merchant in accordance with the Merchant Agreement.
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Merchant Reserves. After the Closing, neither the Company nor any Controlling Shareholder shall draw or make any claim against, or agree to release, any Merchant Reserve Account or any security deposit held by Processor on behalf of any Merchant, except for any losses incurred by the Company to Processor relating to transactions by the Merchants prior to the Closing that are otherwise not recovered by or reimbursed to the Company.
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Merchant Reserves. After the Closing, ECP shall not draw or make any claim against, or agree to release, any Merchant Reserve Account (as defined in the Humboldt Agreement and the ECP Humboldt Agreement) or any security deposit held by Humboldt on behalf of any Merchant, except for any losses incurred by ECP or Humboldt relating to transactions by the Merchants prior to the Closing that are otherwise not recovered by or reimbursed to ECP.
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Merchant Reserves. At the time that Seller ceases to process the Seller Portfolio for Purchaser pursuant to the Interim Processing Agreement, and subject to the existing BIN's and ICA's being transferred to a new Visa/MasterCard Member Bank in order that Seller and Bank will not have continuing liability for Unfulfilled Chargebacks related to or arising from the Seller Portfolio or Bancard's and Bank's continued services under the Interim Processing Agreement (other than Unfulfilled Chargebacks arising from AMS's pre-January 1, 2002 transactions), then Seller shall transfer the Merchant Reserves to a financial institution of Purchaser's choosing at closing as set forth in Section 1.03 hereof.
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Merchant Reserves 
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Related to Merchant Reserves

  • Interest Reserve A portion of the Loan A Amount, in the amount of Five Million Five Hundred Thirty Nine Thousand and No/100 Dollars ($5,539,000.00) is hereby allocated to and designated as the “Interest Reserve”. The Interest Reserve is an unfunded reserve, representing a portion of the undisbursed Loan Proceeds, dedicated to the sole purpose of lending funds to Borrower to enable Borrower to pay interest on Loan A and Loan B as and when such interest becomes due and payable. Provided that no Event of Default shall have occurred and be continuing, Lender A shall make advances from the Interest Reserve to itself on each Payment Date for the purpose of payment when due of accrued and unpaid interest on Loan A. Each such advance shall be credited to the amount of interest due and payable by Borrower on such Payment Date and shall reduce, by an equivalent amount, the remaining amount available to be advanced from the Interest Reserve. Borrower acknowledges and agrees that the payment of such accrued and unpaid interest by the method described herein is for its convenience and benefit. If at any time the amount available to be advanced from the Interest Reserve is reduced to zero, Lender shall no longer have any obligation for funding of accrued and unpaid interest, whereupon Borrower shall be and remain responsible for the continuation of all such payments from funds other than Loan Proceeds. If at any time Lender, in its reasonable judgment, estimates that the interest remaining to be paid on the Loan through the Maturity Date exceeds the undisbursed Loan Proceeds allocated to the Interest Reserve plus the amount of Operating Cash Flow that Lender reasonably estimates will be available for payment of such interest plus the amount of any cost savings or Contingency that may be reallocated to the interest expense line item as permitted by this Agreement, Borrower, within ten (10) days after request by Lender, will make a “Balancing Deposit” (as defined in Section 4.4) in the amount of the shortfall which shall first be exhausted before any further disbursement of the Loan Proceeds to pay interest on the Loan.

  • Balance in the Replacement Reserve Account The insufficiency of any balance in the Replacement Reserve Account shall not relieve Borrower from its obligation to fulfill all preservation and maintenance covenants in the Loan Documents.

  • Management Accounts The Management Accounts:

  • Replacement Reserve Fund Borrower shall pay to Lender on the Closing Date and on each Payment Date one twelfth of the amount (the "REPLACEMENT RESERVE MONTHLY DEPOSIT") reasonably estimated by Lender in its sole discretion to be due for replacements and repairs required to be made to the Property during the calendar year (collectively, the "REPLACEMENTS"), which Replacement Reserve Monthly Deposit shall be in an amount equal to no less than $0.15 per year per square foot of gross leasable area. Amounts so deposited shall hereinafter be referred to as Borrower's "REPLACEMENT RESERVE FUND" and the account in which such amounts are held shall hereinafter be referred to as Borrower's "REPLACEMENT RESERVE ACCOUNT". Lender may reassess its estimate of the amount necessary for the Replacement Reserve Fund from time to time, and may increase the monthly amounts required to be deposited into the Replacement Reserve Fund upon thirty (30) days notice to Borrower if Lender determines in its reasonable discretion that an increase is necessary to maintain the proper maintenance and operation of the Property. Any amount held in the Replacement Reserve Account and allocated for the Property shall be retained by Lender in an interest bearing account, or, at the option of Lender, in an Eligible Account at an Eligible Institution; PROVIDED, HOWEVER, that, any interest earned on said account shall accrue in said account for the benefit of Borrower, but shall remain in and constitute part of the Replacement Reserve Fund, and shall be disbursed in accordance with the terms hereof. Notwithstanding anything to the contrary in this Section 7.3, Borrower shall not be required to make Replacement Reserve Monthly Deposits, provided that: (i) no Event of Default shall have occurred; and (ii) Borrower makes all necessary Replacements and otherwise maintains the Property to Lender's satisfaction. Upon notice from Lender following: (a) an Event of Default; or (b) the failure of Borrower to make necessary Replacements or otherwise maintain the Property to Lender's satisfaction, Borrower shall begin to deposit the Replacement Reserve Monthly Deposit into the Replacement Reserve Fund beginning on the Payment Date (as defined herein) immediately following the date of such notice.

  • Loop Reservations 2.21.3.1 For a Mechanized LMUSI, TWTC may reserve up to ten (10) loop facilities. For a Manual LMUSI, TWTC may reserve up to three (3) loop facilities.

  • Reserve Accounts All reserves, escrows and deposit accounts required under the Loan Documents and all cash, checks, drafts, certificates, securities, investment property, financial assets, instruments and other property held therein from time to time and all proceeds, products, distributions or dividends or substitutions thereon and thereof;

  • Additional Reserve Costs (a) If and so long as any Lender is required after the date hereof to make special deposits with the Bank of England, to maintain reserve asset ratios or to pay fees, in each case in respect of such Lender’s Eurocurrency Loans in any Designated Foreign Currency, such Lender may require the relevant Borrower to pay, contemporaneously with each payment of interest on each of such Loans, additional interest on such Loan at a rate per annum equal to the Mandatory Costs Rate calculated in accordance with the formula and in the manner set forth in Exhibit C hereto.

  • Operating Accounts (a) Maintain all of Borrower’s and its Subsidiaries’ Collateral Accounts in accounts which are subject to a Control Agreement in favor of Collateral Agent.

  • Availability Reserves All Revolving Loans otherwise available to Borrower pursuant to the lending formulas and subject to the Maximum Credit and other applicable limits hereunder shall be subject to Lender's continuing right to establish and revise Availability Reserves.

  • Disbursements from Replacement Reserve Account (a) Lender shall make disbursements from the Replacement Reserve Account to pay Borrower only for the costs of the Replacements. Lender shall not be obligated to make disbursements from the Replacement Reserve Account to reimburse Borrower for the costs of routine maintenance to the Property or for costs which are to be reimbursed from the Required Repair Fund (if any).

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