Risk Account definition

Risk Account means an Account to which the ACV edit applies. The Securities and funds credited to a Risk Account are collateral subject to the Category Credit Ring Security Interests and the Surety Security Interests. A Restricted Collateral Account is a Collateral Account that is a Risk Account. A General Account is a Securities Account that is a Risk Account.
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Examples of Risk Account in a sentence

  • For a Company participating in a quota share primary insurance agreement(s) with Citizens Property Insurance Corporation High Risk Account, Citizens and the Company shall report only their respective portion of losses under the quota share primary insurance agreement(s).

  • If any Factor Risk Account credited to you was not paid for any reason other than Credit Risk, we shall reverse the credit and charge your account accordingly, and such Account is then deemed to be a Client Risk Account.

  • The parties acknowledge that both parties participate in the State of Idaho Risk Management Program comprehensive liability plan utilizing the Retained Risk Account (“Risk Program”).

  • A charge back does not constitute a reassignment of an Account; provided, however, we have the right in our sole discretion to reassign to you any Client Risk Account.

  • Accounts and portions of Accounts on which you bear the risk as to credit shall be referred to herein collectively as "Client Risk Accounts", and individually as a "Client Risk Account".

  • Any Account for freight, samples, or miscellaneous sales (including the sale of Goods and/or in quantities not regularly sold by Client) shall always be a Client Risk Account, notwithstanding any written Credit Approval from Factor.

  • The assertion of a Dispute by a Customer shall have the effect of negating any Credit Approval on the affected Approved Account(s) and such Approved Account(s) shall be deemed a Client Risk Account until paid or otherwise cleared from Factor’s books.

  • The amount required to be placed in the Lender Risk Account as provided in paragraph 6 below, b.

  • Upon demand by Factor, Client shall pay to Factor the full amount of a Client Risk Account, together with all expenses incurred by Factor up to the date of such payment, including reasonable attorney’s fees in attempting to collect or enforce such payment or payment of such Account(s).

  • Should it subsequently be determined that any Factor Risk Account credited to your account with us was not paid for any reason other than the customer's financial inability to do so, we shall reverse the credit and debit your account accordingly.