Approved Payee definition

Approved Payee. A Closing Agent or warehouse lender approved by Buyer in accordance with Section 3.7.

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Approved Payee. As defined in the Transactions Terms Letter and as described in Section 3.7 of this Agreement.

Approved Payee. Any of (a) a Closing Agent approved in accordance with Section 3.6(b) of this Agreement or (b) a Qualified Originator.

Examples of Approved Payee in a sentence

Notwithstanding the foregoing, Buyer reserves the right to refuse to designate any warehouse lender as an Approved Payee, or, alternatively, to require additional terms and conditions in order for Buyer to pay a Purchase Price to the warehouse lender.
Any funds disbursed by Buyer to Seller or its Approved Payee shall be subject to all applicable federal, state and local laws, including, without limitation, regulations and policies of the Board of Governors of the Federal Reserve System on Reduction of Payments System Risk.
In order for a warehouse lender to be designated an Approved Payee with respect to any Purchase Price, Seller shall submit to Buyer a written request, including the name and address of the warehouse lender, demonstrating a need for such designation.
Buyer shall review the applicable documents and notify Seller within [***] as to whether such Closing Agent or warehouse lender has been designated by Buyer, [***], to be an Approved Payee with respect to such Purchase Price.
Notwithstanding the foregoing, Buyer shall not be obligated to pay the Purchase Price under any method of payment to any Closing Agent or warehouse lender that is not an Approved Payee.

More Definitions of Approved Payee

Approved Payee means a Closing Agent approved in accordance with Section 2.07, a Qualified Originator or a Warehouse Lender.

Approved Payee means any organisation or individual who has provided their payment details to enable payments to be made to them by the Bank’s customers using the Electronic Banking Services.

Approved Payee. Guarantor or any Approved Seller/Originator approved in accordance with Section 3.6 of this Agreement.

Approved Payee means a utility organization or another natural person or legal entity, which has been approved by the Bank as an entity in whose favour an order for payment (Bill Payment) may be given by the User.

Approved Payee. As defined in the Transactions Terms Letter.

Approved Payee means a natural or legal person approved by PanPay, including, but not limited to, the EEA Tax Administration, third party service companies, etc. In order to avoid any reasonable doubts, the Payee is not regarded a Consumer.

Approved Payee means a natural or legal person approved by Shanzhi Asia as payee of the Funds, which may include a European Union Tax Administration, third party service companies, etc. For the avoidance of doubt, the Approved Payee shall in no event be a Consumer.