Common use of Debiting of Fees and Charges Clause in Contracts

Debiting of Fees and Charges. Fees and charges (including administrative charges payable by a Participant under Rule 11.10 or 20.2 of the Operating Rules) shall be debited from the Current Account of Participants on the 7th of every calendar month for charges incurred in the preceding calendar month, except for those who have made alternative billing arrangements with the Service Provider. If the 7th is a public holiday, the deduction shall be carried out on the next business day immediately following. Participants shall maintain sufficient funds in their Current Account to cover the fees and charges (including administrative charges payable by a Participant under Rule 11.10 or 20.2 of the Operating Rules) to be deducted. Participants shall ensure that their MCB requirement, if applicable, is met at the end of the business day on which the deduction is made. A xxxx shall be transmitted via MEPS+ to all Participants on the first business day of every calendar month, notifying Participants of charges and fees incurred for the calendar month before. APPENDIX 3 ACCESS CRITERIA

Appears in 13 contracts

Samples: System Service Agreement, System Service Agreement, System Service Agreement

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Debiting of Fees and Charges. Fees and charges (including administrative charges payable by a Participant under Rule 11.10 or 20.2 of the Operating Rules) shall be debited from the Current Account of Participants on the 7th of every calendar month for charges incurred in the preceding calendar month, except for those who have made alternative billing arrangements with the Service Provider. If the 7th is a public holiday, the deduction shall be carried out on the next business day immediately following, . Participants shall maintain sufficient funds in their Current Account to cover the amount fees and charges (including administrative charges payable by a Participant under Rule 11.10 or 20.2 of the Operating Rules) to be deducted. Participants shall ensure that and to meet their MCB Minimum Cash BalanceMCB requirement, if applicable, is met at the end of the business day on which the deduction is made. A xxxx bill shall be transmitted via MEPS+ to all Participants on the first business day of every calendar month, notifying Participants of charges and fees incurred for the calendar month before. APPENDIX 3 ACCESS CRITERIA

Appears in 1 contract

Samples: System Service Agreement

Debiting of Fees and Charges. Fees and charges (including administrative charges payable by a Participant under Rule 11.10 or 20.2 of the Operating Rules) shall be debited from the Current Account of Participants on the 7th of every calendar month for charges incurred in the preceding calendar month, except for those who have made alternative billing arrangements with the Service Provider. If the 7th is a public holiday, the deduction shall be carried out on the next business day immediately following. Participants shall maintain sufficient funds in their Current Account to cover the fees and charges (including administrative charges payable by a Participant under Rule 11.10 or 20.2 of the Operating Rules) to be deducted. Participants shall ensure that their MCB requirement, if applicable, is met at the end of the business day on which the deduction is made. A xxxx bill shall be transmitted via MEPS+ to all Participants on the first business day of every calendar month, notifying Participants of charges and fees incurred for the calendar month before. APPENDIX 3 ACCESS CRITERIA

Appears in 1 contract

Samples: System Service Agreement

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Debiting of Fees and Charges. Fees and charges (including administrative charges payable by a Participant under Rule 11.10 or 20.2 of the Operating Rules) shall be debited from the Current Account of Participants on the 7th of every calendar month for charges incurred in the preceding calendar month, except for those who have made alternative billing arrangements with the Service Provider. If the 7th is a public holiday, the deduction shall be carried out on the next business day immediately following, . Participants shall maintain sufficient funds in their Current Account to cover the amount fees and charges (including administrative charges payable by a Participant under Rule 11.10 or 20.2 of the Operating Rules) to be deducted. Participants shall ensure that and to meet their MCB Minimum Cash BalanceMCB requirement, if applicable, is met at the end of the business day on which the deduction is made. A xxxx shall be transmitted via MEPS+ to all Participants on the first business day of every calendar month, notifying Participants of charges and fees incurred for the calendar month before. APPENDIX 3 ACCESS CRITERIA

Appears in 1 contract

Samples: System Service Agreement

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