Designated Settlement Account definition

Designated Settlement Account means in respect of any payment (a) the Settlement Account; or (b) the Additional Settlement Account which in either case is identified as being the account to or from which the payment is made by the code in the payment instruction for that payment.
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Designated Settlement Account means the bank account or the account opened with other PSPs designated by the Merchant pursuant to Clause 4.8 of this Agreement, or such other accounts as notified by the Merchant and accepted by us from time to time. “Force Majeure Event” means events beyond a Party’s reasonable control (whether or not reasonably anticipated), and which renders impossible the performance of such obligations, including without limitation to insurrection, war, riot, strikes, labour stoppages or slowdowns, explosion, nuclear incident, fire, flood, earthquake, pandemic, the onset of infectious diseases, issuance of quarantine or other prohibition or restrictive orders or requirements by any governmental or public authority, change of law, national or regional shortage of adequate power or telecommunications or transportation, or cyber-attacks, internet service provider failures or delays, or denial of service attacks, or other catastrophic event of a similar nature.
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Examples of Designated Settlement Account in a sentence

  • Settlement of a CHATS Payment Instruction Value Today will be effected across the books of SI pursuant to Rules 3.1.4 and 3.1.5 by debiting the Designated Settlement Account of the Sending Member for the funds transferred and crediting the same to the Designated Settlement Account of the Receiving Member.

  • After the cut-off message referred to in paragraph 2 is received, the Clearing House Computer will one by one release the hold in Sending Member’s Designated Settlement Account of the funds in respect of outstanding CCP Instructions.

  • It is the Sending Member’s responsibility (or in relation to an OTC Clear Payment Instruction, the responsibility of the paying Member of the OTC Clear Payment Instruction) to ensure that there are sufficient funds in its Designated Settlement Account for settlement of Special Posting transactions.

  • In case the projected balances of the Designated Settlement Account for some Selected Payment Members are negative, the system will try to exclude the Selected Payments of such Selected Payment Members based on the criteria as specified in the Operating Procedures in order to reach positive or zero projected balances of each of the Selected Payment Members.

  • If the available balance in the Sending Member’s Designated Settlement Account is sufficient to settle the GTRS Payment Instruction when it is first in priority in the Normal Queue, a hold up to the transaction amount will thereupon be applied to the Sending Member’s Designated Settlement Account.

  • Each Direct Participant shall maintain an available balance in its Designated Settlement Account sufficient to meet in time its, its Indirect Participants’, its ICUs’, its TPUs’ and its Indirect-participating Card Members’ payment obligations which are to be settled through such Designated Settlement Account as and when due.

  • All CHATS Transactions (including CHATS Payment Instructions effected by Special Posting but excluding CHATS Transactions in respect of Articles) effected by or in favour of a Direct Participant for the account of an ICU or a TPU shall be settled by the crediting or debiting of the Designated Settlement Account of the Direct Participant and shall be construed for the purposes of these Clearing House Rules as receipts or payments of the relevant Direct Participant.

  • A CHATS Payment Instruction Value Today will not be effected or settled through CHATS unless the available balance in the Sending Member’s Designated Settlement Account for the time being is sufficient to make the payment referred to in such payment instruction.

  • College volunteer/work-study experiencePage | 6 Scholarship Renewal Students who finished their semester at SUNY Korea and are about to continue their next semester will need to fulfill the following criteria in order to renew their scholarships (Academic Excellence Scholarship not applicable to this statement).

  • Notwithstanding the mode and means by which it is made, each payment by or to each TPU which is effected through CHATS shall be settled by SI debiting or crediting the Designated Settlement Account of its Direct Participant through which the corresponding CHATS Payment Instruction specifies such payment to be cleared and settled and once debited or credited to such Designated Settlement Account, such payment shall be deemed made, completed, irrevocable and final.

Related to Designated Settlement Account

  • Settlement Account means an account established at a financial institution designated by Merchant as the account to be credited and debited by the Servicers for Transactions, Card Fees, Chargebacks and other amount assessed by a Card Association and passed- through to Merchant pursuant to the terms of this Agreement.

  • Gross Settlement Fund means the Settlement Amount plus all interest earned thereon.

  • FT Account Pool #: Mortgagor's Name, Address and Zip Code: Mortgage Loan Number: Reason for Requesting Documents (check one)

  • Purchase Contract Settlement Fund has the meaning specified in Section 5.5.

  • Gross Settlement Amount means Two Hundred Forty Thousand Dollars and Zero Cents ($240,000.00) which is the total amount Defendant agrees to pay under the Settlement. The Gross Settlement Amount will be used to pay Individual Settlement Payments, Individual PAGA Payments, the LWDA PAGA Payment, Class Counsel Fees Payment, Class Counsel Litigation Expenses Payment, Class Representative Service Payment, and the Administration Expenses.

  • Cash Settlement Payment Date means in relation to a Series of Notes, the date specified as such or otherwise determined as provided in the relevant Final Terms.

  • Agent Payment Account means account no. 5000000030266 of Agent at Wachovia Bank, National Association, or such other account of Agent as Agent may from time to time designate to Administrative Borrower as the Agent Payment Account for purposes of this Agreement and the other Financing Agreements.

  • Net Settlement Fund means the Settlement Fund less: (i) any Taxes;

  • Trading Account means the unique personified register of all completed transactions, open positions, orders and nontrading operations on the trading platform.

  • Investment Account As defined in Section 3.12(a).

  • Transaction Account means a cash account established and maintained by Repo Custodian for the Funds to effect repurchase transactions pursuant to the Master Agreement.

  • Designated Accounts as used in any security agreement means both the Designated Accounts hereunder and the “Designated Accounts” in the comparable agreement entered into with respect to any other Pledgor.

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • Viatical settlement provider means a person, other than a viator, who enters into or effectuates a viatical settlement contract. Viatical settlement provider does not include:

  • CCASS Settlement Day means the term “Settlement Day” as defined in the General Rules of CCASS.

  • Structured settlement annuity means an annuity purchased in order to fund periodic payments for a plaintiff or other claimant in payment for or with respect to personal injury suffered by the plaintiff or other claimant.

  • Designated Deposit Account is Borrower’s deposit account, account number , maintained with Bank.

  • Physical Settlement Amount For any Settlement Date for which Physical Settlement is applicable, an amount in cash equal to the product of (a) the Forward Price in effect on the relevant Settlement Date multiplied by (b) the Settlement Shares for such Settlement Date.

  • Seller Account shall have the meaning set forth in the preamble of this Agreement.

  • Net Settlement Amount means the Gross Settlement Amount, less the following payments in the amounts approved by the Court: Individual PAGA Payments, the LWDA PAGA Payment, Class Representative Service Payment, Class Counsel Fees Payment, Class Counsel Litigation Expenses Payment, and the Administration Expenses Payment. The remainder is to be paid to Participating Class Members as Individual Class Payments.

  • Settlement Funds means the amount of funds in the Qualified Settlement Fund.

  • Cash Settlement Date means, for each Financially Settled Futures Transaction, the Business Day determined by Exchange from time to time in accordance with industry practice for such Transaction, as posted on Exchange’s Website not less than one month prior to the occurrence of such date, other than Invoices issued as a result of a Contracting Party’s Default or under the Close- out Procedure which amounts require payment immediately;

  • Payment Account means a segregated non-interest-bearing corporate trust account maintained by the Property Trustee for the benefit of the Holders in which all amounts paid in respect of the Notes will be held and from which the Property Trustee, through the Paying Agent, shall make payments to the Holders in accordance with Sections 3.1, 4.1 and 4.2.

  • Excluded Account means (a) any deposit account specifically and exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of any Loan Party’s employees and (b) any Xxxxx Cash Accounts.

  • Cash Settlement Amount means the “Cash Settlement Amount” as determined by the Calculation Agent in accordance with Paragraph 6.

  • Designated Account means the Deposit Account of Borrower identified on Schedule D-1 to the Agreement (or such other Deposit Account of Borrower located at Designated Account Bank that has been designated as such, in writing, by Borrower to Agent).