Stripe Account definition
Examples of Stripe Account in a sentence
Until a default under this Agreement occurs, Stripe allows you and your agents to withdraw funds from the Stripe Account.
If we are unable to transfer your Loan funds to your Stripe Account or to your Linked Bank Account, we will make best efforts to contact you to resolve the matter.
The remaining funds, which are equal to the Net Loan Proceeds, will be deposited to your Stripe Account.
You agree to receive the Net Loan Proceeds in your Stripe Account.
As a result of the security interest you grant to Bank, as long as any portion of the Total Repayment Amount remains outstanding, your Stripe Account will be under the sole control of Stripe.
We may determine that you are in default of this Agreement if you: (i) breach this Agreement (including any representation or covenant herein), (ii) do not repay your Minimum Payment Amounts owed when due, (iii) do not repay your Outstanding Balance when due, (iv) file for dissolution or bankruptcy; (v) misrepresent a fact in your Loan application, or use or maintain a Stripe Account using inaccurate or false information; or (vi) pose an unacceptable regulatory, reputational, or financial risk.
If your withheld Merchant Receivables for an applicable payment period do not equal at least the Minimum Payment Amount by the applicable Minimum Payment Due Date, you authorize us to (a) offset funds from your Stripe Account in an amount equal to the difference between the Minimum Payment Amount and the withheld Merchant Receivables and/or (b) debit your Linked Bank Account in an amount equal to the difference between the Minimum Payment Amount and the withheld Merchant Receivables.
Your Loan will not be deemed canceled if the debit to your Stripe Account or your Linked Bank Account is unsuccessful.
If you cancel this Agreement, we will debit the Loan Amount from your Stripe Account or your Linked Bank Account, as applicable.