RCK Reserve Sample Clauses

RCK Reserve. In addition to and not in limitation of any other rights under this Agreement, PROCESSOR reserves the right to establish (without notice to CUSTOMER) and CUSTOMER agrees to fund a non‐interest bearing RCK Chargeback Reserve Account (which may be co‐mingled with any other Chargeback Reserve Account of CUSTOMER), or to demand other security and/or to raise any transaction fee hereunder, upon PROCESSOR’s reasonable determination of the occurrence of the following:
Sample 1Sample 2Sample 3See All (4)
AutoNDA by SimpleDocs
RCK Reserve. In addition to and not in limitation of any other rights under this Agreement, PROCESSOR reserves the right to establish (without notice to CUSTOMER) and CUSTOMER agrees to fund a non‐interest bearing RCK Chargeback Reserve Account (which may be co‐mingled with any other Chargeback Reserve Account of CUSTOMER), or to demand other security and/or to raise any transaction fee hereunder, upon PROCESSOR’s reasonable determination of the occurrence of the following:  CUSTOMER engages in the processing of charges which creates an overcharge to CUSTOMER by duplication of charges;  Any activity engaged in by CUSTOMER, which violates any Rule, applicable Law, or applicable ODFI or Agency requirement, or the terms and conditions of this Agreement;  Chargebacks exceed 33% of the total number of transactions submitted by CUSTOMER in any thirty (30) day calendar period;  Excessive number of requests from customers or banks for retrieval of documentation;  CUSTOMER’s financial stability is in question or CUSTOMER ceases doing business upon notice of termination of this Agreement. PROCESSOR shall disburse any and all funds remaining in this account at the end of one hundred eighty (180) days after termination of this Agreement or ninety (90) days from the date of the last Chargeback activity, whichever is later, unless PROCESSOR, in its sole discretion believes Chargeback rights may be longer than such period of time or that loss is otherwise likely, in which event PROCESSOR will notify CUSTOMER of the date set for the release of the funds. No monies in the Chargeback Reserve Account shall bear interest. Provisions applicable to the designated Settlement Account are also applicable to this account.
Sample 1Sample 2
RCK Reserve. In addition to and not in limitation of any other rights under this Agreement, PROCESSOR reserves the right to establish (without notice to CUSTOMER) and CUSTOMER agrees to fund a non‐interest bearing RCK Chargeback Reserve Account (which may be co-mingled with any other Chargeback Reserve Account of CUSTOMER), or to demand other security and/or to raise any transaction fee hereunder, upon PROCESSOR’s reasonable determination of the occurrence of the following:  CUSTOMER engages in the processing of charges which creates an overcharge to CUSTOMER by duplication of charges;  Any activity engaged in by CUSTOMER, which violates any Rule, applicable Law, or applicable ODFI or Agency requirement, or the terms and conditions of this Agreement;  Chargebacks exceed 33% of the total number of transactions submitted by CUSTOMER in any thirty (30) day calendar period;  Excessive number of requests from customers or banks for retrieval of documentation;  CUSTOMER’s financial stability is in question or CUSTOMER ceases doing business upon notice of termination of this Agreement. PROCESSOR shall disburse any and all funds remaining in this account at the end of one hundred eighty (180) days after termination of this Agreement or ninety
Sample 1Sample 2

Related to RCK Reserve

  • Funding Availability This Contract is at all times subject to state appropriations. The Department makes no express or implied representation or guarantee of continued or future funding under this Contract. The Department has, as of the date of the execution of this Contract, obtained all requisite approvals and authority to enter into and perform its obligations under this Contract, including, without limitation, the obligation to make the initial payment or payments required to be made under this Contract on the date or dates upon which such initial payment or payments may otherwise be disbursed during the current contract period, (i.e., Sept ember 1, 2015, through August 31, 2017). The Grantee acknowledges the Department’s authority to make such payments is contingent upon the Texas Legislature's appropriation to the Department of sufficient funds and the availability of funds to the Department for such purpose. If the State of Texas or the federal government terminates its appropriation through the Department or fails to pay the full amount of the allocation for the operation of any grant or reimbursement program hereunder , or the funds are otherwise unavailable, the Department may immediately and without penalty reduce payments or terminate this Contract, in whole or in part. Upon termination of the Contract or reduction of payments, the Grantee shall return to the Department any unexpended funds already disbursed to the Grantee. Neither the Department nor the State of Texas shall incur liability for damages or any loss that may be caused or associated with such termination or reduction of payments. The Department shall not be required to give prior notice for termination or reduction of payments.

  • Available Balance Each time you use your Card, you authorize us to reduce the value available on your Card by the amount of the transaction and any applicable fees, taxes or other charges assessed by the merchant. Transactions that exceed the remaining balance on your Card are prohibited and should be declined at the point of sale. If, notwithstanding an insufficient balance, an authorization is received by the merchant or the merchant uses other means to proceed with the transaction, then you agree to reimburse us for any amount in excess of the Card balance for such a transaction. Refunds for Purchases Made with the Card. Any refund for goods or services purchased with the Card will be made in the form of a credit to the Card and pursuant to the refund policy of the merchants where such goods or services were purchased. If you receive a credit, the credit may not be added to the available funds on the Card for seven (7) business days. You are not entitled to receive a cash refund. Disputes with Merchants. We are not responsible for the delivery, quality, safety, legality or any other aspect of goods and services that you purchase from others with your Card. All such disputes should be addressed to the merchants from whom the goods and services were purchased.

  • Fund Availability Financial obligations of the University payable after the current Fiscal Year are contingent upon funds for that purpose being appropriated, budgeted, and otherwise made available.

  • Leave Reserved The Company agrees to commence discussions with the Union in relation to the future implementation by the Union of a Bargaining Agents Fee, subject to the clause having been approved by the New South Wales Industrial Relations Commission.

  • Credit Limit 1. The Allocation Platform shall calculate and continuously update the Credit Limit of each Registered Participant in respect of each subsequent Auction. The Credit Limit shall be equal to the amount of the collaterals in place minus any outstanding payment obligations. In case of a Bank Guarantee such Bank Guarantee shall be only considered if the requirements in Article 20 related to its validity for the respective Auction are fulfilled. The Allocation Platform shall make this information available to each Registered Participant individually through the Auction Tool.

  • Reserve Account (a) On the Closing Date, the Seller shall deposit the Specified Reserve Balance into the Reserve Account. Amounts held from time to time in the Reserve Account shall be held by the Trust Collateral Agent for the benefit of the Noteholders.

  • Commitment Charge; Credit (a) The Borrower shall pay a commitment charge on the unwithdrawn amount of the Loan at the rate and on the terms specified in the Loan Agreement.

  • Funds Availability Policy Your Ability To Withdraw Funds. Our policy is to delay the availability of funds from your cash and check deposits. During the delay, you may not withdraw the funds in cash and we will not use the funds to pay checks that you have written. Determining the Availability of a Deposit. The length of the delay is counted in business days from the day of your deposit. Every day is a business day except Saturdays, Sundays, and federal holidays. If you make a deposit before closing on a business day that we are open, we will consider that day to be the day of your deposit. However, if you make a deposit after closing or on a day we are not open, we will consider that the deposit was made on the next business day we are open. The length of the delay varies depending on the type of deposit and is explained below. Same-Day Availability. Funds from electronic direct deposits to your account will be available on the day we receive the deposit. Next-Day Availability. Funds from the following deposits are available on the first (1st) business day after the day of your deposit: • U.S. Treasury checks that are payable to you. • Wire transfers. • Checks drawn on us. If you make the deposit in person to one of our employees, funds from the following deposits are also available on the first (1st) business day after the day of your deposit: • Cash. • State and local government checks that are payable to you. • Cashier’s, certified, and xxxxxx’s checks that are payable to you. • Federal Reserve Bank checks, Federal Home Loan Bank checks, and postal money orders, if these items are payable to you. If you do not make your deposit in person to one of our employees (for example, if you mail the deposit), funds from these deposits will be available on the second (2nd) business day after the day we receive your deposit.

  • Refinancing Preparation Advance; Capitalizing Front-end Fee and Interest (a) If the Loan Agreement provides for the repayment out of the proceeds of the Loan of an advance made by the Bank or the Association (“Preparation Advance”), the Bank shall, on behalf of such Loan Party, withdraw from the Loan Account on or after the Effective Date the amount required to repay the withdrawn and outstanding balance of the advance as at the date of such withdrawal from the Loan Account and to pay all accrued and unpaid charges, if any, on the advance as at such date. The Bank shall pay the amount so withdrawn to itself or the Association, as the case may be, and shall cancel the remaining unwithdrawn amount of the advance.”

  • How Are Distributions from a Xxxxxxxxx Education Savings Account Taxed For Federal Income Tax Purposes? Amounts distributed are generally excludable from gross income if they do not exceed the beneficiary’s “qualified higher education expenses” for the year or are rolled over to another Xxxxxxxxx Education Savings Account according to the requirements of Section (4). “Qualified higher education expenses” generally include the cost of tuition, fees, books, supplies, and equipment for enrollment at (i) accredited post-secondary educational institutions offering credit toward a bachelor’s degree, an associate’s degree, a graduate-level or professional degree or another recognized post-secondary credential and (ii) certain vocational schools. In addition, room and board may be covered if the beneficiary is at least a “half-time” student. This amount may be reduced or eliminated by certain scholarships, qualified state tuition programs, HOPE, Lifetime Learning tax credits, proceeds of certain savings bonds, and other amounts paid on the beneficiary’s behalf as well as by any other deductions or credits taken for the same expenses. The definition of “qualified education expenses” includes expenses more frequently and directly related to elementary and secondary school education, including the purchase of computer technology or equipment or Internet access and related services. To the extent payments during the year exceed such amounts, they are partially taxable and partially non-taxable similar to payments received from an annuity. Any taxable portion of a distribution is generally subject to a 10% penalty tax in addition to income tax unless the distribution is (i) due to the death or disability of the beneficiary, (ii) made on account of a scholarship received by the beneficiary, or (iii) is made in a year in which the beneficiary elects the HOPE or Lifetime Learning credit and waives the exclusion from income of the Xxxxxxxxx Education Savings Account distribution. You may be allowed to take both the HOPE or Lifetime Learning credits while simultaneously taking distributions from Xxxxxxxxx Education Savings Accounts. However, you cannot claim a credit for the same educational expenses paid for through Xxxxxxxxx Education Savings Account distributions. To the extent a distribution is taxable, capital gains treatment does not apply to amounts distributed from the account. Similarly, the special five- and ten-year averaging rules for lump-sum distributions do not apply to distributions from a Xxxxxxxxx Education Savings Account. The taxable portion of any distribution is taxed as ordinary income. The IRS does not require withholding on distributions from Xxxxxxxxx Education Savings Accounts.

Time is Money Join Law Insider Premium to draft better contracts faster.