Parent Accounts definition
Examples of Parent Accounts in a sentence
The Parent Accounts Receivable are fully collectible to the extent not reserved for on the balance sheet on which they are shown.
You will not incur interest charges, or earn any actual interest on funds in the Parent Accounts or Rooster Cards, but as a parent you could educate your children about the concept of interest by crediting their Spend Pots/Rooster Cards with “virtual” interest.
We will not call you directly in such cases, so if you receive a call from anyone telling you that they are calling you because they suspect that your Parent Accounts or Rooster Card(s) have been used by someone else, for example, please make sure that you do not speak to them but instead call us straight away, as these could be fraudsters.
If we need to contact you in the event of suspected or actual fraud or security threats that we might notice on your Parent Accounts or Rooster Card, we will first send you an email and an in-App chat notification prompting you to contact our Customer Support Team.
However, the Company may unilaterally amend this Agreement to conform to written directives to the Company from its auditors or banking regulators or to comply with legislative changes or tax law, including without limitation Section 409A of the Code and any and all Treasury regulations and guidance promulgated thereunder.
For BAS Services, you must designate the Parent Account(s) and Subsidiary Account(s), the minimum and maximum Sweep Balances for those accounts, and the hierarchical relationship between them on the Sweep Service Form.
To the knowledge of Parent, there are no set-offs, counterclaims or disputes asserted with respect to any Parent Accounts Receivable that would result in claims in excess of the reserve for bad debts set forth on the Parent Financial Statements and, to the knowledge of Parent, subject to such reserve, all Parent Accounts Receivable are collectible in full.
Upon written request of Purchaser received not later than sixty days after the date of this Agreement, Parent shall close the Parent Accounts and transfer any deposit balances to another depositary institution.
All material accounts, notes, contracts and other amounts payable of Parent and its Subsidiaries (collectively, "Parent Accounts Payable") are currently within their respective terms, and are neither in default nor otherwise past due by more than 90 days.
The P2P transactions take place between the Parent Accounts of the Parents of the Children involved.