Payment Bank definition

Payment Bank means a bank licensed under section 22 of the Banking Regulation Act, 1949 and governed by the terms of the “Reserve Bank Guidelines for Licensing of Payments Banks” dated November 27, 2014, as amended from time to time;

Payment Bank means a bank, trust company, savings bank,

Payment Bank means a credit institution which holds one or several Dedicated Cash Accounts and which provides cash to its clients to support the settlement of securities transactions;

Examples of Payment Bank in a sentence

• The Payment Bank shall also be entitled to make recoveries from the successful Vendor's bills, Performance Bank Guarantee, or any other amount due to him, the equivalent value of any payment made to him due to inadvertence, error, collusion, misconstruction or misstatement.

• Defects Liability Refer to guideline Notes Period of notifying defects 90 days calculated from the date stated in the notice under sub clause 11.2 Percentage of Retention Refer to guideline Notes Maximum Amount of Advance Payment Refer to guideline Notes Form of Guarantee for Advance Payment Bank Guarantee Valuation of Works Re-measurements with Bills of Quantities Repayment Schedule for Advance Payment 33 % instalments from 1st three certificates.

• Receipt and acceptance of unconditional and irrevocable Advance Payment Bank Guarantee in favour of Purchaser for an amount equivalent to the amount of advance as per the prescribed format as provided in Section IV, Annexure - IV.

• In the event of the Vendor being unable to service the Agreement or causing delay in providing the requisite service for whatever reason, the Payment Bank reserves the right to invoke the Performance Bank Guarantee at its sole discretion.

• For the purpose of payment of Advances to the Bidder and submission of various Bank Guarantees by the Bidder i.e Advance Payment Bank Guarantee (APBG) and Additional Bank Guarantee (ABG), as applicable, Base Contract price will be considered.

More Definitions of Payment Bank

Payment Bank or “Bank” shall mean Jio Payments Bank Ltd.

Payment Bank means a “payment bank” as defined in the RBI’s Guidelines for Licensing of “Payments Banks” dated November 27, 2014 and, in the context of these Articles, shall mean the PB Entity;

Payment Bank means a credit institution, bank, trust company or other institution which

Payment Bank means a credit institution, bank, trust company or other institution which (i) has maintained an adequate long-term credit rating of at least A or equivalent issued by at least two recognised credit rating agencies; (ii) is capable of ensuring operational availability during the days and times required for the Payment Bank Procedures; (iii) participates in the SWIFT messaging system or other message protocol utilised by x-clear; (iv) is capable of maintaining cut-off times consistent with the Payment Bank Procedures; (v) has in place business continuity and contingency arrangements necessary to ensure resilience to disruptions to internal systems and processes which may have an adverse effect on the operation of the Payment Bank Procedures; (vi) has an agreement with x-clear to participate in the Payment Bank Procedures; and (vii) has satisfied x-clear in relation to maintaining adequate systems and processes for participation in the Payment Bank Procedures;

Payment Bank means a bank, trust company, savings bank, investment company, financial institution or any other person carrying on a banking or financial business which may be selected by the State to hold the State payment account in connection with a structured financing transaction.

Payment Bank means a duly-licensed bank designated by the Bank (using the form attached to the Registry and Paying Agency Agreement as Schedule 3), where the PDTC Payment Account will be opened, maintained, and managed by the Paying Agent for and on behalf of the Issuer, into which the Bank shall deposit, in good cleared funds, the amount of the relevant interest and principal payments due each Bondholder on each relevant Payment Date.

Payment Bank means Citibank, N.A., as global agent for the Issuer’s bond issuance program, or any replacement or successor global agent.