Gross Settlement Service definition

Gross Settlement Service means the settlement service that allows settlement of individual transactions relating to Non-Derivative Financial Instruments that are operated by the System.

Examples of Gross Settlement Service in a sentence

  • Otherwise, entities have to use payment service providers whose rails terminate in banks with reserve accounts.Banks with reserve accounts use a Real Time Gross Settlement Service (RTGS) usually run by a central bank.

  • In the UK, the Bank of England is renewing its Real Time Gross Settlement Service and Pay.UK is developing a New Payments Architecture for retail payments.

Related to Gross Settlement Service

  • Settlement Service as defined in Subsection 11.6(b).

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

  • payment service means any business activity set out in Annex I;

  • 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.

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

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

  • Viatical settlement broker means a person, including a life insurance producer as provided for in section 508E.3, who, working exclusively on behalf of a viator and for a fee, commission, or other valuable consideration, offers or attempts to negotiate viatical settlement contracts between a viator and one or more viatical settlement providers or one or more viatical settlement brokers. Notwithstanding the manner in which the viatical settlement broker is compensated, a viatical settlement broker is deemed to represent only the viator, and not the insurer or the viatical settlement provider, and owes a fiduciary duty to the viator to act according to the viator’s instructions and in the best interest of the viator. “Viatical settlement broker” does not include an attorney, certified public accountant, or a financial planner accredited by a nationally recognized accreditation agency who is retained to represent the viator and whose compensation is not paid directly or indirectly by the viatical settlement provider or purchaser.

  • 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.

  • Retail Settlement Code means the code approved by the Board which, among other things, establishes a distributor’s obligations and responsibilities associated with financial settlement among retailers and consumers and provides for tracking and facilitating consumer transfers among competitive retailers;

  • ASX Settlement means ASX Settlement Pty Ltd (ABN 49 008 504 532);

  • Payment Services means such Services as We provide in relation to payments into and out of Your Account.

  • payment service user means a natural or legal person making use of a payment service in the capacity of either payer or payee, or both;

  • Current service means the number of years and months of employment as an

  • settlement system means any infrastructure whether or not connected to the auction platform that can provide settlement services, which may include clearing, netting, management of collateral, or any other services, which ultimately enable the delivery of allowances on behalf of an auctioneer to a successful bidder or its successor in title, and the payment of the sum due by a successful bidder or its successor in title to an auctioneer, carried out through either of the following:

  • securities settlement system means a securities settlement system (as defined in the CSD Regulation) operated by a central securities depository;

  • PJM Settlement or “PJM Settlement, Inc.” shall mean PJM Settlement, Inc. (or its successor), established by PJM as set forth in Section 3.3 of the Operating Agreement.

  • payment service provider means a person whose business includes the provision of transfer of funds services;

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

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

  • Day-ahead Settlement Interval means the interval used by settlements, which shall be every one clock hour. Day-ahead System Energy Price:

  • Investment Services means the Investment Services under the Company’s CIF license which can be found in the document “Company Information”.

  • Relevant Settlement Method In respect of any Option:

  • 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:

  • Current Service Provider means the Party from which an End User Customer is planning to switch its local Exchange Service or the Party from which an End User Customer is planning to port its telephone number(s). "Custom Calling Features" comprise a group of features provided via a Central Office Switch without the need for special Customer Premises Equipment. Features include, but are not limited to, call waiting, 3-way calling, abbreviated dialing (speed calling), call forwarding, and series completing (busy or no answer).

  • Replacement Services means any services which are substantially similar to any of the Services and which the Customer receives in substitution for any of the Services following the Call Off Expiry Date, whether those services are provided by the Customer internally and/or by any third party;

  • Outplacement Services means professional outplacement services determined by the Employer to be suitable to the Executive’s position. The maximum amount that the Employer will pay for such services is set forth on the first page of the Agreement. The outplacement services shall be made available until the earlier of (i) such time as the aggregate cost to the Employer of the outplacement services reaches the maximum amount specified on the first page of the Agreement, and (iii) the date on which the Executive obtains another full-time job. The Employer will not pay the Executive cash in lieu of professional outplacement services.