Common use of Use of Account Clause in Contracts

Use of Account. 4.1. The funds held on the Client Account are considered as Electronic Money in accordance with the Law on Electronic Money and Electronic Money Institutions of the USA, Law on Payments of the USA and other applicable laws. Once the Client transfers or deposits money to the Client Account, the Company issues Electronic Money at the nominal value of the Client’s transfer or deposit. Subsequently, the Company credits the Electronic Money to the Client Account. Client Account allows to hold, send, receive or redeem Electronic Money at its nominal value.

Use of Account. 4.1. The funds held on the Client Account are considered as Electronic Money in accordance with the Law on Electronic Money and Electronic Money Institutions of the USA, Law on Payments of the USA and other applicable laws. Once the Client transfers or deposits money to the Client Account, the Company issues Issues Electronic Money at the nominal value of the Client’s transfer or deposit. Subsequently, the Company credits the Electronic Money to the Client Account. Client Account allows to hold, send, receive or redeem Electronic Money at its nominal value.

Use of Account. 4.1. The funds held on the Client Account are considered as Electronic Money in accordance with the Law on Electronic Money and Electronic Money Institutions of the USACY, Law on Payments of the USA CY and other applicable laws. Once the Client transfers or deposits money to the Client Account, the Company issues Issues Electronic Money at the nominal value of the Client’s transfer or deposit. Subsequently, the Company credits the Electronic Money to the Client Account. Client Account allows to hold, send, receive or redeem Electronic Money at its nominal value.