Payment Account definition
Payment Account means a segregated non-interest-bearing corporate trust account maintained by the Property Trustee for the benefit of the Holders in which all amounts paid in respect of the Notes will be held and from which the Property Trustee, through the Paying Agent, shall make payments to the Holders in accordance with Sections 3.1, 4.1 and 4.
Payment Account. The account maintained pursuant to Section 4.03(b).
Payment Account means the account specified on the signature pages hereof into which all payments by or on behalf of each Borrower to Agent under the Financing Documents shall be made, or such other account as Agent shall from time to time specify by notice to Borrower Representative.
Examples of Payment Account in a sentence
In the event Competitive Supplier relies on Stop Gap Funding, CPG shall include in the next immediate subsequent Monthly Distribution from the Payment Account an amount equal to the Stop Gap Funding.
See the below table for some of the fees applicable to your Virtual Payment Account.
The Aggregator or CPG shall report the Payment Account balance and provide reasonable evidence of such account balance to the Competitive Supplier on or about the seventeenth (17th) Business Day of each month or as otherwise requested by the Competitive Supplier.
More Definitions of Payment Account
Payment Account means an account held in the name of one or more payment service users which is used for the execution of payment transactions;
Payment Account shall have the meaning set forth in Section 6.3 hereof.
Payment Account means each bank account established pursuant to the Security Agreement, to which the proceeds of Accounts and other Collateral are deposited or credited, and which is maintained in the name of the Agent or the Borrower, as the Agent may determine, on terms acceptable to the Agent.
Payment Account has the meaning set forth in Section 2.01(g) herein.
Payment Account. The account established by the Indenture Trustee pursuant to Section 3.01 of the Indenture. The Payment Account shall be an Eligible Account.
Payment Account means the account described as such in the name of the Issuer held with the Account Bank to which amounts shall be transferred by the Account Bank on the instructions of the Collateral Administrator on the second Business Day prior to each Payment Date out of certain of the other Accounts in accordance with Condition 3(i) (Accounts) and out of which the amounts required to be paid on each Payment Date pursuant to the Priorities of Payment shall be paid.
Payment Account means a segregated non-interest-bearing corporate trust account maintained by the Property Trustee with the Bank in its trust department for the benefit of the Securityholders in which all amounts paid in respect of the Debentures will be held and from which the Property Trustee, through the Paying Agent, shall make payments to the Securityholders in accordance with Sections 4.1 and 4.