Settlement Account definition

Settlement Account means an account established at a financial institution designated by Merchant as the account to be credited and debited by the Servicers for Transactions, Card Fees, Chargebacks and other amount assessed by a Card Association and passed- through to Merchant pursuant to the terms of this Agreement.

Settlement Account means the transactional banking account held with an Australian bank which is nominated by the Investor on its Application Form;

Settlement Account means the bank account of the Customer designated as the Settlement Account in the Customer Information Statement or such other bank account of the Customer as the Customer may notify CSBHK in writing from time to time;

Examples of Settlement Account in a sentence

• With effect from the Initial Settlement Distribution Date, LFSL shall, whenever it determines, acting reasonably, that it has sufficient funds in the Settlement Account, instruct the Settlement Account Bank to pay the full amount standing to the credit of the Settlement Account to the WEIF by way of electronic transfer (each payment being a " Subsequent Settlement Account Distribution").

• A Settlement Account is linked to the appropriate Clearing Bank Account of the Clearing House Member in the Clearing Bank through which that Member pays its liabilities towards the Clearing House.

• LFSL will hold all amounts standing to the credit of the Settlement Account on trust for the Parent, the Insurers and LFSL.

• On the date that the electronic transfer instruction is given by LFSL to the Settlement Account Bank for the payment of a Settlement Account Distribution such Settlement Account Distribution shall be deemed to be paid and LFSL shall have no further Liability for such payment.

• A Settlement Account is used to register the value of liabilities and receivables of a Clearing Member, based on which the Clearing House prepares payment orders forwarded to the Clearing Bank for financial settlement of Transactions cleared by the Clearing House.

More Definitions of Settlement Account

Settlement Account is the checking account or other acceptable deposit account Merchant maintains at a depository institution acceptable to Provider for credit of Transactions by Merchant Bank and debit of Credit Vouchers, Chargebacks, Processing Fees, any fines, assessments or fees assessed by Card Networks or other governmental agency or entity having authority, and other reimbursement to which Provider may be entitled under this Agreement.

Settlement Account means the account maintained by Bank used for Settlement of all transactions initiated by use of a Card(s) by or on behalf of a Cardholder.

Settlement Account means an account at a central bank, a settlement agent or a central counterparty used to hold funds or securities and to settle transactions between participants in a system;

Settlement Account. A deposit account at a financial institution designated by Carrier as the account to be debited or credited, as applicable, for Net Activity.

Settlement Account means an account held at a Payment Integrated Financial Institution that has been registered with XXXX for source funding or disbursement (or both) that belongs to a Subscriber, using that Payment Integrated Financial Institution’s ESA.

Settlement Account means an Account managed by DBS Private Bank, whether in Singapore Dollars or any other currency, for purpose of effecting settlement in relation to any Investment, Transaction and/or Service made available by us.

Settlement Account means a trust account established for the benefit of Schools at the Settlement Account Bank that holds Good Funds until they are remitted to Students.