BANKING SERVICE «GUARANTEED PAYMENTS» Sample Clauses

BANKING SERVICE «GUARANTEED PAYMENTS». Terms and definitions in this clause 5.6 of the Agreement have the following meanings: Used Guaranteed Payment Limit is the actual amount of the Payer Client’s debt on the Overdraft plus the sum of all Guaranteed Payments created by the Payer Client and not yet executed by the Bank. Guaranteed Payment is a transfer, by the Bank under the procedure of contractual debiting on a date in the future determined by the Payer Client (value date), of a certain amount of funds from the Special Account of the Payer Client to the Beneficiary's Account in accordance with the terms of the respective Guaranteed Payment Application for settlements under the agreements entered into between the Payer Client and the Beneficiary Client that provide payment delay. Available Guaranteed Payment Limit is an amount equal to the difference between the Guaranteed Payment Limit and the Used Guaranteed Payment Limit. Guaranteed Payment Application is an application created and signed by the Payer Client by means of the Client- Bank System, containing an instruction of the Payer Client to the Bank to make a Guaranteed Payment from a Special Account in favour of the Beneficiary Client. Application for Connection is an application to connect the Payer Clients by the Bank to the Guaranteed Payment Banking Service, executed/drawn up in the form established by the Bank, signed by the Beneficiary Client and submitted to the Bank in writing or by the Client-Bank System. Beneficiary Client is a Bank’s Client who is the beneficiary of the Guaranteed Payment when the Bank provides the Guaranteed Payment Banking Service. Payer Client-is a Bank's Client, from whose Special Account the Guaranteed Payment is transferred to the Beneficiary Client. Guaranteed Payment Limit is the maximum allowed amount of the Payer Client’s debt on the Overdraft together with the sum of all Guaranteed Payments created by the Payer Client and not yet executed by the Bank. The Guaranteed Payments Limit may vary and be equal to the Available Overdraft Limit, but in no case may exceed the Overdraft Limit determined in accordance with the Guaranteed Payment Overdraft Rules. In this case, at any time during the Term of the Banking Service, the Available Overdraft Limit may not be less than the amount of the Used Guaranteed Payment

BANKING SERVICE «GUARANTEED PAYMENTS». Terms and definitions in this clause 5.6 of the Agreement have the following meanings: Used Guaranteed Payment Limit is the actual amount of the Payer Client’s debt on the Overdraft plus the sum of all Guaranteed Payments created by the Payer Client and not yet executed by the Bank. Guaranteed Payment is a transfer, by the Bank under the procedure of contractual debiting on a date in the future determined by the Payer Client (value date), of a certain amount of funds from the Special Account of the Payer Client to the Beneficiary's Account in accordance with the terms of the respective Guaranteed Payment Application for settlements under the agreements entered into between the Payer Client and the Beneficiary Client that provide payment delay. Guaranteed Payments Agreement – a separate agreement on guaranteed payments concluded between the Bank and the Beneficiary Client, on the basis of and in accordance with which the Bank provides the Banking Service to the Recipient Client. Available Guaranteed Payment Limit is an amount equal to the difference between the Guaranteed Payment Limit and the Used Guaranteed Payment Limit.