Remittance Transaction definition

Remittance Transaction means the remittance or transfer of funds made pursuant to each Remittance Request into a Beneficiary's Bank Account.
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Remittance Transaction means a transaction in terms of which there is a transfer of a Remittance to an Active Employee in accordance with the payment instruction configured by the Client on the Radar System;
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Remittance Transaction means the transfer of funds made pursuant to each Remittance Request into the specified account maintained by the Beneficiary with the Beneficiary’s Bank.
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Examples of Remittance Transaction in a sentence

  • Any failure, refusal, delay or error by any third party through whom the Remittance Transaction is made to the intended Beneficiary.

  • The Customer acknowledges that placing a Remittance Request for a Remittance Transaction with the Customer Service Representative at the Call Center and the confirmation of the receipt/registration of a Remittance Request by such Customer Service Representative does not amount to execution, processing or implementation of the Remittance Request.

  • The Customer shall be entitled to place a Remittance Request for a Remittance Transaction only during the operational hours of the Call Center.

  • Prior to accepting a Remittance Request for execution of a Remittance Transaction, the Customer Service Representative at the Call Center shall verify the identity of the Customer by requiring the Customer to satisfy such verification process as may be required by the Bank.

  • Any calculation, conversion, determination or certification by the Bank of a rate or amount in relation to any Remittance Transaction or utilization of the Call & Remit Facility shall, in the absence of a clear and obvious error, be conclusive evidence of the matters to which it relates.

  • The Customer acknowledges and agrees that the Bank through its Customer Service Representative may refuse to accept a Remittance Request for a Remittance Transaction where the Customer fails or is unable to satisfy the requirements of the verification process.

  • For availing the Call and Remit Facility, the Customer may call the Call Center on specific toll-fee number/s and place a Remittance Request for processing a Remittance Transaction.

  • The Bank shall not be obliged to carry out any Remittance Request unless and until the Customer's Account(s) has sufficient funds to pay the relevant amount of the Remittance Amount together with the Rates and Charges, and any other fee or charge imposed by the Bank in connection with the Remittance Transaction.

  • The Customer irrevocably and unconditionally authorizes the Bank to withdraw the Remittance Amount together with the applicable Rates and Charges, from the Customer's Account(s) on the date of the Remittance Transaction on which the relevant Remittance Request is processed by the Bank or such other day as the Bank may determine in accordance with its usual standard procedures.

  • The Bank shall proceed to record the Remittance Request and execute the Remittance Transaction only after the Customer has provided information and fulfilled satisfactory verification as aforesaid.


More Definitions of Remittance Transaction

Remittance Transaction. (匯款交易) means a service falling within paragraph (a) of the definition of "remittance agent". (Part IVA added 8 of 2000 s. 2)
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Remittance Transaction. (匯款交易) means a service falling within paragraph (a) of the definition of "remittance agent".
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Remittance Transaction means a transaction in terms of which there is a transfer of a Remittance to an Active Employee in accordance with the payment instruction configured by the Client on the Radar System;
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Related to Remittance Transaction

  • Remittance Date With respect to each Distribution Date, the 18th day (or if such 18th day is not a Business Day, the first Business Day immediately following) of the month in which such Distribution Date occurs.

  • Seller Remittance Amount With respect to each Servicer, the meaning assigned to such term in the related Servicing Agreement.

  • Master Servicer Remittance Amount With respect to each Master Servicer and each Master Servicer Remittance Date, an amount equal to (a) all amounts on deposit in such Master Servicer’s Collection Account as of 11:00 a.m., New York City time, on such Master Servicer Remittance Date, net of (b) any portion of the amounts described in clause (a) of this definition that represents one or more of the following: (i) collected Monthly Payments with respect to any Mortgage Loan serviced by such Master Servicer that are due on a Due Date following the end of the related Collection Period, (ii) to the extent not covered by clause (i) above, any payments of principal (including Principal Prepayments) and interest, Insurance Proceeds, Condemnation Proceeds and Liquidation Proceeds Received by the Trust with respect to any Mortgage Loan or REO Property serviced by such Master Servicer after the end of the related Collection Period, (iii) any Prepayment Premiums and/or Yield Maintenance Charges Received by the Trust with respect to any Mortgage Loan or successor REO Mortgage Loan serviced by such Master Servicer with respect thereto after the end of the related Collection Period, (iv) any Excess Liquidation Proceeds, (v) any amounts payable or reimbursable to any Person from such Collection Account pursuant to clauses (ii) through (xxii) of Section 3.05(a), and (vi) any amounts deposited in such Collection Account in error; provided that the Master Servicer Remittance Amount with respect to such Master Servicer for the Master Servicer Remittance Date that occurs in the same calendar month as the anticipated Final Distribution Date shall be calculated without regard to clauses (b)(i), (b)(ii), (b)(iii) and (b)(iv) of this definition.

  • Remittance Period means, (a) as to the initial Payment Date, the period beginning on, and including, the Closing Date and ending on, and including, the Determination Date immediately preceding such Payment Date and (b) as to any subsequent Payment Date, the period beginning, and including, on the first day after the most recently ended Remittance Period and ending on, and including, the Determination Date immediately preceding such Payment Date, or, with respect to the final Remittance Period, the Collection Date.

  • Servicer Remittance Date With respect to any Distribution Date, the 18th day of the calendar month in which such Distribution Date occurs or, if such 18th day is not a Business Day, the Business Day immediately following.

  • Master Servicer Remittance Date With respect to any Distribution Date, the Business Day immediately preceding such Distribution Date.

  • Remittance Amount means the funds denominated in Singapore Dollars or United Stated Dollars which is to be debited from the Customer's Account(s) and converted into the specified Foreign Amount.

  • First Remittance Date With respect to each Mortgage Loan Package, the 18th day (or if such 18th day is not a Business Day, the first Business Day immediately preceding such 18th day) of the calendar month immediately following the Closing Date; provided, however, if the Servicing Transfer Date is not one (1) or more Business Days prior to the first day of such calendar month, such date will be the 18th day (or if such 18th day is not a Business Day, the first Business Day immediately preceding such 18th day) of the next succeeding calendar month.

  • Distribution Transaction means any distribution of equity securities of a Subsidiary of the Company to holders of Common Stock, whether by means of a spin-off, split-off, redemption, reclassification, exchange, stock dividend, share distribution, rights offering or similar transaction.

  • Servicer Remittance Report As defined in Section 4.03(d).

  • Interest Remittance Amount With respect to any Mortgage Pool and Distribution Date, (a) the sum of (1) all interest collected (other than in connection with Payaheads and Prepayment Premiums) or advanced in respect of Scheduled Payments in such Mortgage Pool during the related Collection Period by the Servicers, the Master Servicer, or the Trustee (solely acting in its capacity as successor Master Servicer), minus (x) the Servicing Fee with respect to the Mortgage Loans and (y) previously unreimbursed Advances and other amounts due to the Servicers, the Master Servicer or the Trustee (solely acting in its capacity as successor Master Servicer) to the extent allocable to interest and the allocable portion of previously unreimbursed Servicing Advances with respect to the Mortgage Loans, (2) any Compensating Interest Payments with respect to the Mortgage Loans in such Mortgage Pool with respect to the related Prepayment Period (or in the case of Mortgage Loans serviced by Aurora, the relevant Collection Period), (3) the portion of any Purchase Price, as applicable, or Substitution Amount paid with respect the Mortgage Loans in such Mortgage Pool during the related Prepayment Period (or in the case of Mortgage Loans serviced by Aurora, the relevant Collection Period) allocable to interest, and (4) all Net Liquidation Proceeds, Insurance Proceeds and any other recoveries collected with respect to the Mortgage Loans during the related Prepayment Period (or in the case of Mortgage Loans serviced by Aurora, the relevant Collection Period), to the extent allocable to interest, as reduced by (b) other costs, expenses or liabilities reimbursable to the Trustee, the Master Servicer or each Servicer to the extent provided in this Agreement and each Servicing Agreement, and the Custodian pursuant to the Custodial Agreement; provided, however, that in the case of the Trustee, such reimbursable amounts may not exceed $500,000 during any Anniversary Year up to and including the Anniversary Year in which the Stepdown Date occurs and $200,000 during any Anniversary Year thereafter (the “Applicable Maximum Reimbursement Amount”). In the event that the Trustee incurs reimbursable amounts in excess of the Applicable Maximum Reimbursement Amount in any Anniversary Year, it may obtain reimbursement for such amounts in subsequent Anniversary Years, but in no event shall more than the Applicable Maximum Reimbursement Amount in aggregate be reimbursed to the Trustee per Anniversary Year. Notwithstanding the foregoing, costs and expenses incurred by the Trustee pursuant to Section 6.14(a) in connection with any transfer of servicing shall be excluded in determining the Applicable Maximum Reimbursement Amount limitation on reimbursable amounts per Anniversary Year. For the avoidance of doubt, (i) the Interest Remittance Amount available on each Swap Payment Date for distributions to the Supplemental Interest Trust Account shall be equal to the Interest Remittance Amount on the related Distribution Date and (ii) the Interest Remittance Amount for each Distribution Date shall be calculated without regard to any distributions to the Supplemental Interest Trust Account on the related Swap Payment Date.

  • Optimal Interest Remittance Amount With respect to any Distribution Date, an amount equal to the excess of (i) the product of (1) (x) the weighted average Net Mortgage Rate of the Group 1 Mortgage Loans as of the first day of the related Collection Period divided by (y) 12 and (2) the Aggregate Loan Group Balance for the immediately preceding Distribution Date, over (ii) any expenses that reduce the Interest Remittance Amount which did not arise as a result of a default or delinquency of the Group 1 Mortgage Loans or were not taken into account in computing the Expense Fee Rate.

  • Group I Interest Remittance Amount With respect to any Distribution Date, that portion of the Available Funds for such Distribution Date attributable to interest received or advanced with respect to the Group I Mortgage Loans.

  • Remittance As defined in Section 7.02(b) hereof.

  • Monthly Remittance Amount The sum of the Group I Monthly Remittance Amount and the Group II Monthly Remittance Amount.

  • Master Servicer Prepayment Charge Payment Amount The amounts payable by the Master Servicer pursuant to Section 2.03(b) in respect of any waived (or, with respect to subsequent changes of law, any unenforceable) Prepayment Charges.

  • Group II Interest Remittance Amount With respect to any Distribution Date, that portion of the Available Funds for such Distribution Date attributable to interest received or advanced with respect to the Group II Mortgage Loans.

  • Servicer Prepayment Charge Payment Amount The amounts payable by the Servicer in respect of any waived Prepayment Charges pursuant to Section 2.05 or Section 3.01.

  • Remittance Report A report prepared by the Master Servicer and delivered to the Trustee and the NIM Insurer in accordance with Section 4.04.

  • Post-Transaction Period means, with respect to any Specified Transaction, the period beginning on the date such Specified Transaction is consummated and ending on the last day of the eighth full consecutive fiscal quarter immediately following the date on which such Specified Transaction is consummated.

  • Servicer Business Day means any day other than a Saturday, a Sunday or a day on which banking institutions in Raleigh, North Carolina, Charlotte, North Carolina or New York, New York are authorized or obligated by law, regulation or executive order to be closed, on which the Servicer maintains normal office hours and conducts business.

  • Master Servicer Termination Test With respect to any Distribution Date, the Master Servicer Termination Test will be failed if the Cumulative Loss Percentage exceeds 4.00%.

  • Remittance Information means the information that must specify the Billing Account Numbers (BANs) paid; invoices paid and the amount to be applied to each BAN and invoice.

  • Monthly Remittance Date The 18th day of each month, or if the 18th day is not a Business Day, the preceding Business Day.

  • Principal Remittance Amount With respect to any Distribution Date, the sum of the Group I Principal Remittance Amount and the Group II Principal Remittance Amount.

  • REO Disposition Period As defined in Section 3.14. REO Proceeds: Proceeds, net of any related expenses of the Servicer, received in respect of any REO Property (including, without limitation, proceeds from the rental of the related Mortgaged Property) which are received prior to the final liquidation of such Mortgaged Property.