Dedicated Deposit Account definition

Dedicated Deposit Account means the deposit account designated by You and established with a bank within the United States into which You shall deposit amounts sufficient to satisfy Your funding obligations under the Agreement and Your contractual obligations with Us, and from which We shall be entitled to debit or impound funds for purposes of satisfying Our obligations under the Agreement. For the avoidance of doubt, We shall separately invoice You for Our fees payable by You to Us for the services provided hereunder.
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Dedicated Deposit Account shall have the meaning set forth in Section 7.17.
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Dedicated Deposit Account means the following deposit accounts used by an electronic payment institution or a trustee bank exclusively for depositing funds received from users: (1) "Dedicated deposit managed account" (referred to as "managed account")
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Examples of Dedicated Deposit Account in a sentence

  • In the event sufficient funds are not available in Your specified Dedicated Deposit Account to cover Your payment obligations hereunder (an !NSF Event”), We may assess an NSF charge of $150.00.

  • We will debit Your specified Dedicated Deposit Account in order to make the payments for Services.

  • Accordingly, You shall, at times during which You are receiving such Services, have sufficient, good funds in Your Dedicated Deposit Account or otherwise remit such funds to Our designated bank within the deadline established by Us to satisfy Your third-party payment obligations in their entirety.

  • You are required to maintain sufficient available funds in any specified Dedicated Deposit Account used for funding payroll at least two (2) Business Days prior to each payroll check date to cover all of Your payment obligations.

  • You acknowledge that, in lieu of Us initiating a debit against Your specified Dedicated Deposit Account, We reserve the right, based on Your specified Dedicated Deposit Account funding history, Your poor payment history, and other factors, to require You to fund any future payment obligations via direct wire transfer, reverse wire transfer or similar method prior to disbursing any funds to any third party.

  • Your funding obligations with respect to the Services provided under this Appendix A (including any and all fees under this Section 3) shall be funded using Your Dedicated Deposit Account.

  • Without limitation of the foregoing, the Parent and the Borrower acknowledge and agree that, on the Revolving Credit Termination Date, the Bank may, in its sole discretion, set off and apply deposits in the Dedicated Deposit Account against any or all of the Obligations.