FBO Account definition
FBO Account means the special purpose segregated, non-interest bearing pooled account established at the Account Bank in the Account Bank City and which shall never be considered a general deposit account and as such shall not be available for set off by the Account Bank or garnishment by creditors of the Account Bank, such account being entitled “Prosper Funding LLC for the benefit of its lender members” (Account No. _____).
FBO Account means a deposit account, as defined in Section 9-108 of the UCC, titled “Prosper Funding LLC for the benefit of its lender members,” maintained by the Company at
FBO Account means any “for the benefit of” accounts held at, and
Examples of FBO Account in a sentence
Payment Labs may deduct such amounts from Company's FBO Account or Payment Account (as applicable), future payments, or invoice Company for immediate payment.
More Definitions of FBO Account
FBO Account means the account maintained by the Company at Wells Fargo Bank, National Association, titled “Prosper Funding LLC for the benefit of its lender members”, or such alternate account of the Holder designated by the Trustee in accordance with the Indenture.
FBO Account means a deposit account, as defined in Section 9-108 of the UCC, titled “Prosper Funding LLC for the benefit of its lender members,” maintained by the Company at ▇▇▇▇▇ Fargo Bank, National Association, or such additional or replacement account or accounts as may from time to time be maintained by the Company for the benefit of its lender members, provided any such account is deemed a deposit account under Section 9-108 of the UCC and is held by the Trustee.
FBO Account means the special purpose segregated, non-interest-bearing account established at the Account Bank in the Account Bank City and which
FBO Account or "For Benefit Of Account" means a custodial bank account set up for the Company to fund payments to Users. The FBO Account holds funds in trust for the Company's payment operations and is segregated from Payment Labs' operating accounts. This definition applies specifically to Payout Services.
FBO Account means a deposit account, as defined in Section 9-108 of the UCC, titled “Prosper Funding LLC for the benefit of its lender members,” maintained by the Company at Wells Fargo Bank, National Association, or such additional or replacement account or accounts as may from time to time be maintained by the Company for the benefit of its lender members, provided any such account is deemed a deposit account under Section 9-108 of the UCC and is held by the Trustee.
FBO Account means a pooled account maintained by the Company at a financial institution of its choosing to hold funds deposited by Holders and prospective Holders through the Platform Website, for the benefit of such Holders and prospective Holders.
FBO Account has the meaning set forth in the Recitations. “Fee Payments” has the meaning set forth in the Recitations.