Direct Settlement definition
Examples of Direct Settlement in a sentence
In the event the Company and the Agent have mutually agreed to the delivery of Gross Proceeds on the Direct Settlement Date, the compensation payable to such Agent shall be set forth and invoiced in a periodic statement from the Agent to the Company and payment shall be made by the Company promptly after its receipt thereof.
In the event of any such default which does not result in a termination of such Terms Agreement, either the nondefaulting Agents or the Company shall have the right to postpone the Direct Settlement Date for a period not exceeding seven days in order to effect any required changes in the Registration Statement, the General Disclosure Package or the Prospectus or in any other documents or arrangements.
On each Direct Settlement Date, the Direct Seller will deliver the Net Proceeds (or Gross Proceeds, as applicable) in same day funds to an account designated by the Company.
Promptly after presentment of transaction records pursuant to this Agreement and in conformance with PROCESSOR’s Operating Guide, PROCESSOR will initiate a transfer of the applicable settlement funds to CUSTOMER within 48 hours after processing the applicable transactions in one of the following ways: (i) Direct Settlement Account.
The Dealer Manager understands and acknowledges, and each Soliciting Dealer shall acknowledge if using Direct Settlement, that the Subscription Agreement must be executed and initialed by the subscriber as provided for by the Subscription Agreement.
Merchant shall only use the American Express Marks as permitted by the Agreement and shall cease using and shall remove American Express’ Marks from Merchant’s website and wherever else they are displayed upon termination of the Agreement or Merchants participation in Processor’s Direct Settlement Program for American Express.
Merchant will be converted from Processor’s Direct Settlement Program for American Express to a direct card acceptance agreement with American Express if and when Merchant becomes a High CV Merchant (or if Merchant currently is a High CV Merchant).
The following capitalized terms shall have the meanings set forth below when used in these Terms and Conditions of Processor’s Direct Settlement Program for American Express.
American Express shall have the right, but not the obligation, to enforce the terms of the Agreement against Merchant with respect to American Express Transaction Card transactions and Processor’s Direct Settlement Program for American Express.
The applicable Net Proceeds on any Direct Settlement Date shall always be delivered substantially simultaneously with the Shares delivered by the Company or the Forward Purchaser, as the case may be.