Payment Party definition
Payment Party. : means a Trading Party, a Virtual Lead Party that holds a Virtual Balancing Account or the NETSO, or (in the context of a Payment Date) any such Party where obliged to make or (subject to Section N2.4 to N2.7 (inclusive)) entitled to receive payment to or from the BSC Clearer of any amount in respect of Trading Charges;
Payment Party as defined in Section 10.16.
Payment Party has the meaning assigned to such term in Section 8.15.
Examples of Payment Party in a sentence
The Administrative Agent shall inform each Payment Party promptly upon determining that any payment made to such Payment Party comprised, in whole or in part, a Rescindable Amount.
Each Payment Party irrevocably waives any and all defenses, including any “discharge for value” (under which a creditor might otherwise claim a right to retain funds mistakenly paid by a third party in respect of a debt owed by another) or similar defense to its obligation to return any Rescindable Amount.
More Definitions of Payment Party
Payment Party means either (i) Lender, (ii) an Affiliate of Lender, (iii) Lessor, if the interest in such Lessor which has been pledged as security to Lender is owned (whether directly or indirectly, and irrespective of how such ownership is acquired) by Lender or an Affiliate of Lender, or (iv) Lessor, if the interest in such Lessor which has been pledged as security to Lender such Lessor will be owned (whether directly or indirectly, and irrespective of how such ownership is acquired) by Lender or an Affiliate of Lender immediately following any Prepayment Premium.
Payment Party has the meaning specified in Section 8.2(j).
Payment Party means a bank, financial institution, credit card issuer, debit card issuer or credit/debit card payment processor that is obligated to remit funds to Borrowers with respect to a Transaction or on which a check is drawn.
Payment Party shall have the meaning provided in Section 12.19.