Lien Marked Account definition

Lien Marked Account means the account(s) (including a fixed deposit account) specified in PayZapp Application Form / POS Agreement / PG Agreement , which account(s) shall be maintained with and lien marked in favour of the Bank. In the event that no account is mentioned in PayZapp Application Form, this Agreement would be deemed to have been modified to delete all references to the Lien Marked Account and other mutatis mutandis changes would be deemed to have been made;
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Examples of Lien Marked Account in a sentence

  • Notwithstanding the foregoing, in no event shall either party be required to settle any labor dispute or disturbance.

  • Without prejudice to the obligation of the Merchant to make payment of the Chargeback Monies upon receipt of a Chargeback Direction, the Merchant agrees and acknowledges that the Bank may recover the Chargeback Monies by either (i) deducting the same in the manner contemplated by Clause 4.1(d) (Process Flow) above, (ii) deducting the same from the Lien Marked Account, or (iii) deducting the same from any other account held or deposit made by the Merchant, whether jointly or singly with the Bank.

Related to Lien Marked Account

  • Linked Account means any controlled disbursement account, controlled balance account or other deposit account maintained by a Collection Account Bank for the Parent, Performance Guarantor, Servicer, Originator or any Affiliate thereof and linked to any Collection Account by a zero balance account connection or other automated funding mechanism or controlled balance arrangement.

  • Blocked Account has the meaning provided in Section 6.13(a)(ii).

  • Blocked Accounts shall have the meaning set forth in Section 6.3 hereof.

  • 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 ▇▇▇▇▇ Cash Accounts.

  • Related Account means an Account with respect to which a new credit account number has been issued by the applicable Account Owner or Servicer or the applicable Transferor under circumstances resulting from a lost or stolen credit card and not requiring standard application and credit evaluation procedures under the Credit Card Guidelines.