Debit Clearing definition

Debit Clearing hereinafter referred to as ‘ACH’, means the Debit Clearing Service notified by the Reserve Bank of (India), participation in which has been consented to in writing by the Borrower for facilitating payment of installments.
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Debit Clearing or “ECS” means debit clearing services notified by Reserve Bank of India, participation in which has been consent to in writing by the Borrower(s) for facilitating payment of installments as more particularly set out in the Schedule 1: Loan Summary.
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Related to Debit Clearing

  • Clearing Account means the account so designated and established by Section 5.04(1) hereof.

  • Clearing Agent means Clearstream Banking AG, Euroclear Bank S.A., and Clearstream Banking S.A. and such further or alternative clearing agent(s) or clearance system(s) as may be approved by the Issuer from time to time and notified to the Holders in accordance with General Condition 4 (each a “Clearing Agent” and together the “Clearing Agents”);

  • Foreign Clearing Agency means Clearstream and the Euroclear Operator.

  • Clearing means the clearing and removal of vegetation, whether partially or in whole, including trees and shrubs, as specified;

  • Depository The Depository Trust Company, or any successor Depository hereafter named. The nominee of the initial Depository for purposes of registering those Certificates that are to be Book-Entry Certificates is Cede & Co. The Depository shall at all times be a "clearing corporation" as defined in Section 8-102(a)(5) of the Uniform Commercial Code of the State of New York and a "clearing agency" registered pursuant to the provisions of Section 17A of the Securities Exchange Act of 1934, as amended.