Reserve Account balance Sample Clauses

Reserve Account balance. Pixxles may apply such amounts of the Merchant’s Total Revenue as is necessary to ensure that the available balance of the Reserve Account at no time falls below the Reserve Account Minimum Balance. Pixxles may from time to time upon at least twenty-four (24) hours’ notice to Merchant increase the Reserve Account Minimum Balance if Pixxles determines in its sole discretion that Merchant’s activities and/or risk profile require such a change. Grounds for such an increase include, but are not limited to, excessive Chargebacks, excessive Refunds, increases in transaction volume, and a deterioration in Merchant’s financial condition or business activities. The Merchant authorises Pixxles to debit the Merchant Operating Account under Clause 7 to remedy a breach of this obligation. Pixxles may deduct from the Merchant’s Total Revenue as a Reserve such amount as it reasonably considers necessary to prevent the Reserve Account Minimum Balance obligation being breached ahead of the next date any payment to the Merchant is due. Pixxles may release such amounts from the Reserve Account that it in its sole discretion considers unnecessary to retain pursuant to this Clause.
Sample 1Sample 2
AutoNDA by SimpleDocs

Related to Reserve Account balance

  • Reserve Account (a) On the Closing Date, the Seller shall deposit the Specified Reserve Balance into the Reserve Account. Amounts held from time to time in the Reserve Account shall be held by the Trust Collateral Agent for the benefit of the Noteholders.

  • Account Balances Balances shown in your accounts may include deposits subject to verification by us. The balance reflected in the Service may differ from your records due to deposits in progress, checks outstanding, or other withdrawals, payments or charges. A transfer request may not result in immediate availability because of the time required to process the request. A transfer request must be made before the Business Day Cut-off time to be effective the same Business Day. The balances within the Service are updated periodically and the Service will display the most current "as of" date on the "accounts" summary page. There may be situations that cause a delay in an update of your balances. The Service will use the most current balance available at the time of a transaction to base our approval for account transfers.

  • Reserve Fund (a) On the Closing Date, the Seller will deposit the Reserve Fund Initial Deposit into the Reserve Fund from the net proceeds of the sale of the Notes. The Reserve Fund shall be the property of the Issuer subject to the rights of the Indenture Trustee in the Reserve Fund Property.

  • Reserve Funds Section 7.1.

  • Trust Account; Distributions On or before the issuance of the Certificates, Xxxxxx Xxx shall either (i) open with an Eligible Depository one or more trust accounts in the name of the Trustee of the Trust Fund that shall collectively be the “Trust Account”, (ii) in lieu of maintaining any such account or accounts, maintain the Trust Account by means of appropriate entries on its books and records designating all amounts credited thereto in respect of the Lower Tier Regular Classes and all investments of any such amounts as being held by it in its capacity as Trustee for the benefit of the Holders of the Trust Fund Certificates or

  • Individual Account An individual account is an account owned by you alone, which you as the account owner use during your lifetime.

  • Force Account The Change Order cost is accomplished by Force Account in the event the Contractor and Design Professional cannot agree on the cost of the Change Order or the cost cannot be reasonably determined prior to beginning the Work.

  • Interest Bearing Account If the Province provides Funds before the Recipient’s immediate need for the Funds, the Recipient will place the Funds in an interest bearing account in the name of the Recipient at a Canadian financial institution.

  • Withdrawals from Accounts Amounts credited to the Certificate Account and the Trust Account on any Distribution Date shall be withdrawn by Xxxxxx Xxx for application towards the distributions required hereby. In the event that amounts shall remain in the Certificate Account in any month following distribution of the Lower Tier Distribution Amount for such month, such amounts may be withdrawn by Xxxxxx Mae as compensation for its administrative and guaranty obligations or as reimbursement to Xxxxxx Xxx for any advance by it pursuant to such guaranty obligations under Sections 2.04 and 3.07 hereof. Any amount so withdrawn shall no longer be a part of the Lower Tier REMIC.

  • Negative Capital Accounts No Member shall be required to pay to any other Member or the Company any deficit or negative balance which may exist from time to time in such Member’s Capital Account (including upon and after dissolution of the Company).

Time is Money Join Law Insider Premium to draft better contracts faster.