Approved Bank Card Systems definition

Approved Bank Card Systems means Visa, MasterCard, American Express and Discover.

Approved Bank Card Systems means Visa, MasterCard, American Express and Discover. “Approved Processor Agreement” means a Processor Agreement which is subject to a Processor Consent Agreement. “Asset Sale” means a sale, lease or sub-lease (as lessor or sublessor), sale and leaseback, assignment, conveyance, transfer, license or other disposition to, or any exchange of property with, any Person (other than to or with a Company or a Guarantor Subsidiary), in one transaction or a series of transactions, of all or any part of any Holding Company’s or any of its Subsidiaries’ businesses, assets or properties of any kind, whether real, personal, or mixed and whether tangible or intangible, whether now owned or hereafter acquired, including the Capital Stock of any Holding Company or any of its Subsidiaries, other than inventory (or other assets) sold or leased in the ordinary course of business. For purposes of clarification, “Asset Sale” shall include (x) the sale or other disposition of any contracts, (y) the early termination or modification of any contract resulting in the receipt by any Holding Company or any of its Subsidiaries of a cash payment or other consideration in exchange for such event (other than payments in the ordinary course for accrued and unpaid amounts due through the date of termination or modification), or (z) any sale of Merchant Agreements or Merchant Accounts (or any rights thereto (including any rights to any residual payment stream with respect thereto)) by any Payment Subsidiary. “Asset Sale Reinvestment Amounts” has the meaning given to such term in Section 2.13(a). “Assignment Agreement” means an Assignment and Assumption Agreement substantially in the form of Exhibit D, with such amendments or modifications as may be approved by Administrative Agent. “Authorized Officer” means, as applied to any Person, any individual holding the position of chairman of the board (if an officer), chief executive officer, president or one of its vice presidents (or the equivalent thereof), and such Person’s chief financial officer, chief accounting officer or treasurer. “Availability” means, on any date of determination, the lesser of (i) the sum of (A) the product of (x) the trailing twelve months Consolidated Adjusted EBITDA as of the last day of the most recently ended month for which financial statements have been delivered pursuant to Section 5.1(a) multiplied by (y) the lesser of (1) 3.00 and (2) the then in effect maximum Leverage

Approved Bank Card Systems means Visa, MasterCard, American Express and Discover. “Asset Sale” means a sale, lease or sub lease (as lessor or sub-lessor), sale and leaseback transaction, assignment, conveyance, transfer, exclusive license or other disposition to, or any exchange of property with, any Person (including any sales or issuances of Capital Stock), in one transaction or a series of transactions, of all or any part of any Credit Party’s or any of its Restricted Subsidiaries’ businesses,

Examples of Approved Bank Card Systems in a sentence

• Each Payment Subsidiary is registered with each Approved Bank Card System to the extent required by: (i) any Processor Agreement, (ii) the Rules of the Approved Bank Card Systems, or (iii) the requirements of any Sponsor Bank.

• Each Payment Subsidiary shall remain (i) registered with each Approved Bank Card System to the extent required by any Processor Agreement or the Rules of the Approved Bank Card Systems, and (ii) PCI certified and compliant to the extent required by PCI Requirements and/or the Rules.

• Such Approved Bank Card Systems registrations are current and active and no additional registration or qualification with any Approved Bank Card Systems or Sponsor Bank is required to operate the business of any Payment Subsidiary.

• Each Payment Subsidiary has complied with and is in compliance with current Payment Card Industry Data Security Standard requirements (“PCI-DSS Requirements”) as well as any mandates issued by applicable the Approved Bank Card Systems, to the extent that they implement PCI-DSS Requirements.

• India and Bangladesh signed a 25 years Treaty of Friendship,Cooperation and Peace on 19 March 1972 which was considered a unique step taken by the important Asian countries for the stabilization of peace in this sub-continent.