Settlement Account Bank definition

Settlement Account Bank means the FDIC insured financial institution at which the Settlement Account is held.
Sample 1Sample 2Sample 3
Settlement Account Bank means the bank at which the Settlement Account is held.
Sample 1Sample 2Sample 3
Settlement Account Bank. . . . . . . . . . means initially, a bank listed in the Management
Sample 1Sample 2Sample 3

Examples of Settlement Account Bank in a sentence

  • During the Term, TMS shall administer the Settlement Account, in connection with the designated trustee, at the Settlement Account Bank.

  • If funds are not available in the Settlement Account, Bank without prior notice to Merchant may deduct from the Reserve Account any obligation of Merchant to Bank under this Merchant Agreement, including all Processing Fees, Chargebacks, Credit Transaction Receipts, Damages, and any and all additional fees, and sums sufficient to reimburse Bank for the amount of any fines, penalty amounts and charges due the Card Associations.

  • If funds are not available in the Settlement Account, Bank without prior notice to Merchant may deduct from the Reserve Account any obligation of Merchant to Bank under this Agreement, including all Processing Fees, Chargebacks, Credit Vouchers, Damages, and any and all additional fees, and sums sufficient to reimburse Bank for the amount of any fines, penalty amounts and charges due the Card Networks.

  • 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").

  • Bank Reserves Account and Settlement Account Bank Reserves Account 1.

  • 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.

  • If charges cannot be collected due to insufficient funds in the Settlement Account, Bank may charge any other account Merchant may have with Bank without notice to Merchant.

  • Settlement Account Bank account of MEPX for financial settlement of Clearing Transactions.

  • We can collect information about you from any of the following: • Credit reporting agencies or credit rating agencies • Your Settlement Account Bank • Your customers • Your employees, Agents or advisers • Any person or entity that we reasonably consider can verify, or validly comment on, your creditworthiness or any information you have given to us.

  • If funds are not available in the Settlement Account, Bank without prior notice to Merchant may deduct from the Reserve Account any obligation of Merchant to Bank under this Agreement, including without limitation all Processing Fees, Chargebacks, Credit Vouchers, Damages, and any and all additional fees, and sums sufficient to reimburse Bank for the amount of any fines, penalty amounts and charges due the Card Brands.


More Definitions of Settlement Account Bank

Settlement Account Bank means any of the banks or other financial institutions holding one or more Approved Settlement Accounts.
Sample 1

Related to Settlement Account Bank

  • Collection Account Bank means any of the banks or other financial institutions holding one or more Collection Accounts.

  • Concentration Account Bank shall have the meaning assigned to such term in Section 9.01(e)(i).

  • Designated Account Bank has the meaning specified therefor in Schedule D-1.

  • Collateral Account Bank a bank which at all times is a Collateral Agent or a Lender or an affiliate thereof as selected by the relevant Grantor and consented to in writing by the Collateral Agent (such consent not to be unreasonably withheld or delayed).

  • Blocked Account Bank means each bank with whom deposit accounts are maintained in which any funds of any of the Loan Parties from one or more DDAs are concentrated and with whom a Blocked Account Agreement has been, or is required to be, executed in accordance with the terms hereof.

  • Deposit Account Bank means a financial institution selected or approved by the Administrative Agent and with respect to which a Grantor has delivered to the Administrative Agent an executed Deposit Account Control Agreement.

  • Blocked Account Banks means the banks with whom the Borrowers have entered into Blocked Account Agreements.

  • Controlled Account Bank has the meaning specified therefor in Section 7(k).

  • Account Bank means any of them.

  • 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.

  • Account Bank Agreement means the account bank agreement dated 15 August 2018 between the Issuer, the Trustee and The Bank of New York Mellon, London branch as the same may be amended, restated, amended and restated, novated, varied, supplemented, substituted, assigned, extended or otherwise replaced or redesignated from time to time;

  • Concentration Account Agreement as defined in subsection 4.16(b).

  • Concentration Accounts has the meaning ascribed to it in Annex C.

  • Account Banks means the credit institutions administering the Accounts and “Account Bank” means any of them.

  • Blocked Accounts shall have the meaning set forth in Section 6.3 hereof.

  • Clearing Account Agreement means that certain agreement relating to clearing account services by and among Mortgage Borrower, Lender and Clearing Account Bank, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time, relating to the operation and maintenance of, and application of funds in, the Clearing Account.

  • Collection Account Agreement means an agreement substantially in the form of Exhibit VI among Originator, Seller, the Agent and a Collection Bank.

  • Blocked Account Agreement means an agreement among the Borrower, the Agent and a Clearing Bank, in form and substance reasonably satisfactory to the Agent, concerning the collection of payments which represent the proceeds of Accounts or of any other Collateral.

  • Blocked Account has the meaning provided in Section 6.13(a)(ii).

  • Cash Management Account has the meaning set forth in Section 2.7(a).

  • Cash Management Accounts means the bank accounts of each Loan Party maintained at one or more Cash Management Banks listed on Schedule 8.01.

  • Collateral Account Agreement means the Collateral Account Agreement executed and delivered by Company and Administrative Agent on the Closing Date, substantially in the form of EXHIBIT XXIII annexed hereto, as such Collateral Account Agreement may hereafter be amended, supplemented or otherwise modified from time to time.

  • Collateral Accounts means any and all accounts established and maintained by the Pledgee in the name of any Pledgor to which Collateral may be credited.

  • Blocked Account Agreements has the meaning set forth in Section 2.22(c).

  • Running Account Bill means a bill for the payment of "On Account" money to the Contractor during the progress of work on the basis of work done and the supply of non-perishable materials to be incorporated in the work.

  • Concentration Account has the meaning provided in Section 6.13(c).