Settlement Reserve. Customer may be required to maintain a reserve (“Settlement Reserve”) of an amount to be solely determined by the Bank. Customer acknowledges and agrees that any Settlement Reserve will be deposited in a Bank account for exclusive use by the Bank for purposes of offsetting any of Customer’s obligations under the provisions of this Agreement applicable to the On-Site Teller Service. Customer authorizes the Bank to immediately replenish the Settlement Reserve to an amount to be determined by the Bank via an ACH debit to Customer’s account or by a direct deposit to the Settlement Reserve if Customer’s Settlement Reserve falls below the required amount. Customer grants the Bank a security interest in any Settlement Reserve to enable the Bank to enforce any obligation owed by Customer applicable to the On-Site Teller Service without notice or demand to Customer. Customer’s obligation to maintain a Settlement Reserve shall survive the termination of this Agreement, with such obligation lasting until all of Customer’s obligations under this Agreement have been fully offset. The Bank’s security interest shall continue until all of Customer’s obligations under this Agreement have been fully offset.
Settlement Reserve. The MEMBER may be, at the Credit Union’s discretion, required to maintain a reserve (Settlement Reserve) of an amount to be solely determined by the Credit Union. The MEMBER hereby acknowledges and agrees that any Settlement Reserve will be deposited into the Credit Union account for exclusive use by the Credit Union for purposes of offsetting any MEMBER obligations under this Agreement. The MEMBER grants the Credit Union a security interest in the Settlement Reserve so that they may enforce any obligation owed by the MEMBER under this Agreement without notice or demand. MEMBER’s obligation to maintain a Settlement Reserve shall survive the termination of this Agreement for the duration of the termination period, during which time the Credit Union’s security interest shall continue.
Settlement Reserve. Merchant may be required to maintain a reserve (“Settlement Reserve”) of an amount to be solely determined by CU. Merchant hereby acknowledges and agrees that any Settlement Reserve will be deposited in a CU account for exclusive use by CU for purposes of offsetting any Merchant obligations under this Agreement. If Merchant's Settlement Reserve falls below the required amount, Merchant authorizes CU to immediately replenish the Settlement Reserve to an amount to be determined by CU via a withdrawal from the Merchant Account, an ACH debit to the Merchant Account or by a direct deposit to the Settlement Reserve. No interest will be paid on the Settlement Reserve. Merchant grants CU a security interest in any Settlement Reserve so that CU may enforce any obligation owed by Merchant under this Agreement without notice or demand to Merchant. Merchant's obligation to maintain a Settlement Reserve shall survive the termination of this Agreement for any reason until CU has determined that maintenance of the Settlement Reserve is no longer necessary.
Settlement Reserve. You may be required to maintain a reserve in the Designated Account or, at our option, another Deposit Accounts with us in an amount to be solely determined by us in connection with the Remote Deposit service (the "Settlement Reserve"). You hereby acknowledge and agree that such Settlement Reserve will be deposited in the Designated Account or other Deposit Accounts maintained with us for exclusive use by us for purposes of offsetting any of your obligations under the Agreement. If your Settlement Reserve falls below the required Settlement Reserve, you authorize us to deposit funds in an amount equal to the shortfall in the account containing the Settlement Reserve from any account belonging to you at our Bank. No interest will be paid on the Settlement Reserve. You grant us a security interest in any Settlement Reserve so that we may enforce any obligation owed by you under the Agreement without notice or demand to you. Your obligation to maintain a Settlement Reserve and our security interest in the Settlement Reserve shall survive the cancellation of the Service until you have no further obligations under these Remote Deposit Service Terms.
Settlement Reserve. Client may be required to maintain a reserve (“Settlement Reserve”) of an amount to be solely determined by Bank to secure Client’s obligations hereunder. Client acknowledges and agrees that any Settlement Reserve will be deposited in a Bank account for exclusive use by Bank for purposes of offsetting any of Client’s obligations under this Agreement. Client grants Bank a security interest in any Settlement Reserve to enable Bank to enforce any obligation owed by Client under this Agreement without notice or demand to Client. Client’s obligation to maintain a Settlement Reserve shall survive the termination of this Agreement, with such obligation lasting until all of Client’s obligations under this Agreement have been fully paid.
Settlement Reserve. You may be required to maintain a reserve ("Settlement Reserve") in an amount to be determined by us at our discretion. Any Settlement Reserve shall be deposited in a bank account for our exclusive for purposes of offsetting any of your obligations under this Agreement. If your Settlement Reserve falls below the required amount, we have the right to immediately replenish the Settlement Reserve by withdrawing these funds from your Authorized Account(s) or by a direct deposit to the Settlement Reserve. No interest will be paid on the Settlement Reserve. You grant us a security interest in any Settlement Reserve so that we may enforce any obligation owed by you under this Agreement without notice or demand to you. Your obligation to maintain a Settlement Reserve will survive the termination of this Agreement forthe duration of the termination period during which time our security interest shall continue.
Settlement Reserve. Company may be required to maintain a reserve (“Settlement Reserve”) of an amount to be solely determined by the Bank. Company hereby acknowledges and agrees that any Settlement Reserve will be deposited in a Bank account for exclusive use by the Bank for purposes of offsetting any Company obligations under this Agreement. If Company’s Settlement Reserve falls below the required minimum amount, Company authorizes the Bank to immediately replenish the Settlement Reserve to an amount to be determined by the Bank via internal transfer from or by a direct deposit to the Settlement Reserve. No interest will be paid on the Settlement Reserve. Company grants the Bank a security interest in any Settlement Reserve so that the Bank may enforce any obligation owed by Company under this Agreement without notice or demand to Company. Company’s obligation to maintain a Settlement Reserve shall survive the termination of this Agreement for the duration of the Termination Period during which time the Bank’s security interest shall continue.
Settlement Reserve. BST will not require and does not maintain any "Settlement Reserve" against which future uncollectibles or adjustments would be offset. Following termination of this Agreement, Client shall continue to receive recoursed uncollectibles and adjustments for revenues submitted for billing under this Agreement.
Settlement Reserve. Customer may be required to maintain a reserve (“Settlement Reserve”) of an amount to be solely determined by Bank. Customer hereby acknowledges and agrees that any Settlement Reserve will be deposited in a Bank account for exclusive use by Bank for purposes of offsetting any Customer obligations under this Agreement If Customer’s Settlement Reserve falls below the required amount, Customer authorizes Bank to immediately replenish the Settlement Reserve to an amount to be determined by Bank via an ACH debit to the Customer Account or by a direct deposit to the Settlement Reserve. No interest will be paid on the Settlement Reserve. Customer grants Bank a security interest in any Settlement Reserve so that Bank may enforce any obligation owed by Customer under this Agreement without notice or demand to Customer. Customer’s obligation to maintain a Settlement Reserve shall survive the termination of this Agreement for the duration of the Termination Period during which time Bank’s security interest shall continue.
Settlement Reserve. Upon the execution of this Agreement, Marketer shall establish with Bank a settlement reserve (the “Settlement Reserve”), adjusted monthly during the term of this Agreement as provided herein. From the beginning of the Initial Term until the six month anniversary of the date that the first Active Account is opened, the Settlement Reserve shall be a sum equal to the greater of $100,000 or the Four Day Float Risk on the Credit Card Accounts during the prior two months. After such six month anniversary, the Settlement Reserve shall be the Four Day Float Risk on the Credit Card Accounts during the prior two months. The “Four Day Float Risk” shall be equal to the largest consecutive four (4) day obligation of Bank to pay the daily Card Association net purchase and cash advance obligations during the immediately prior two month period, provided, however, that in no event shall payments made by or on behalf of Cardholders be considered in calculating the Four Day Float Risk. The Settlement Reserve shall be refundable to Marketer and paid over to Marketer by Bank promptly after termination of this Agreement and after all amounts due to Bank (or expected to become due) pursuant to this Agreement have been paid. To secure the full performance of Marketer’s obligations hereunder, Marketer grants to Bank a first priority perfected security interest in the Settlement Reserve. Marketer authorizes Bank to file any financing statements, execute any other documents on its behalf, and take such other steps as Bank may reasonably deem necessary in order to evidence or perfect such security interest.
