Reserve and Security Sample Clauses

Reserve and Security. 6.1. Xxxxxx may establish a Security in relation to the Merchant for the purpose of providing a source of funds to pay Skrill for any and all, actual and reasonably anticipated claims, losses, cost, penalties and expenses. 6.2. If Skrill elects that the relevant Security shall include the establishment of a Reserve, then: Skrill shall be entitled to prevent the Merchant from withdrawing a sum determined by Xxxxxx (in its sole discretion) from the Merchant Account. Alternatively, at Xxxxxx' sole discretion, Xxxxxx may elect for the Security to be a bank guarantee in which case the Merchant shall, upon request, procure a bank guarantee in favour of Skrill by a bank and in a form acceptable to Xxxxxx and in an amount determined by Xxxxxx. The Security shall remain in place regardless of any termination of this Agreement for as long as there are residual or contingent liabilities of the Merchant to Skrill. The amount of the Reserve (either expressed as an absolute amount or as a percentage of past payments into the Merchant Account) shall be determined by Skrill from time to time in its sole discretion. Where a Reserve has not been established at the commencement date of this Agreement, Skrill shall notify the Merchant of the imposition of a Reserve, its method of calculation, its amount as well as any increase or reduction of the Reserve without undue delay in writing at any time during the term of this Agreement.
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Reserve and Security. 6.1. Paysafe may establish a Security in relation to the Merchant for the purpose of providing a source of funds to pay Paysafe for any and all, actual and reasonably anticipated claims, losses, cost, penalties and expenses. 6.2. If Paysafe elects that the relevant Security shall include the establishment of a Reserve, Paysafe shall be entitled to prevent the Merchant from withdrawing a sum determined by Paysafe (in its sole discretion) from the Merchant Account. Alternatively, at Paysafe’s sole discretion, Paysafe may elect for the Security to be a bank guarantee in which case the Merchant shall, upon request, procure a bank guarantee in favour of Paysafe by a bank and in a form acceptable to Paysafe and in an amount determined by Paysafe. The Security shall remain in place regardless of any termination of this Agreement for as long as there are residual or contingent liabilities of the Merchant to Paysafe. The amount of the Reserve (either expressed as an absolute amount or as a percentage of past payments into the Merchant Account) shall be determined by Paysafe from time to time in its sole discretion. Where a Reserve has not been established at the commencement date of this Agreement, Paysafe shall notify the Merchant of the imposition of a Reserve, its method of calculation, its amount as well as any increase or reduction of the Reserve without undue delay in writing at any time during the term of this Agreement. 6.3. Without restricting Paysafe’s discretion under clauses 6.1 and 6.2, Paysafe may take into account, amongst others, the following factors when determining the amount to be secured in a Reserve: 6.3.1. the risk of the Merchant ceasing or transferring its business or a substantial part thereof; 6.3.2. the risk of the Merchant materially altering the nature of its business; 6.3.3. If the Merchant’s business activities carry a higher than normal risk of chargebacks or other reversals of customer payments; 6.3.4. the Merchant’s overall financial standing; 6.3.5. the risk of the Merchant becoming insolvent or otherwise unable to pay debts as they fall due; 6.3.6. where Paysafe receives a disproportionate number of customer complaints, chargebacks or other payment reversals fines, penalties or other liability related to the Merchant Account; or 6.3.7. where Paysafe reasonably believes that the Merchant will not be able to perform its obligations under this Agreement.
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Reserve and Security. 6.1. INTECH D.O.O. may establish a Security in relation to the Merchant for the purpose of providing a source of funds to pay INTECH D.O.O. for any and all, actual and reasonably anticipated claims, losses, cost, penalties and expenses. 6.2. If INTECH D.O.O. elects that the relevant Security shall include the establishment of a Reserve, then: INTECH D.O.O. shall be entitled to prevent the Merchant from withdrawing a sum determined by INTECH D.O.O. (in its sole discretion) from the Merchant Account. Alternatively, at INTECH D.O.O. ' sole discretion, INTECH D.O.O. may elect for the Security to be a bank guarantee in which case the Merchant shall, upon request, procure a bank guarantee in favor of INTECH D.O.O. by a bank and in a form acceptable to INTECH D.O.O. and in an amount determined by INTECH D.O.O. . The Security shall remain in place regardless of any termination of this Agreement for as long as there are residual or contingent liabilities of the Merchant to INTECH D.O.O. . The amount of the Reserve (either expressed as an absolute amount or as a percentage of past payments into the Merchant Account) shall be determined by INTECH D.O.O. from time to time in its sole discretion. Where a Reserve has not been established at the commencement date of this Agreement, INTECH D.O.O. shall notify the Merchant of the imposition of a Reserve, its method of calculation, its amount as well as any increase or reduction of the Reserve at any time during the term of this Agreement. Upon conclusion of this Agreement, the Reserve amount to 5% of the assets received to the Merchant Account in the period of 180 days. The Reserve is calculated and withheld by the processing bank and released to INTECH D.O.O. accounts by the deadline and in the amount, considering the time of payment and any potentially charged costs.
Sample 1
Reserve and Security. 6.1. Pearl may establish a Security in relation to the Merchant for the purpose of providing a source of funds to pay Pearl for any and all, actual and reasonably anticipated claims, losses, cost, penalties and expenses. 6.2. If Pearl elects that the relevant Security shall include the establishment of a Reserve, then: Pearl shall be entitled to prevent the Merchant from withdrawing a sum determined by Pearl (in its sole discretion) from the Merchant Account. Alternatively, at Pearl Systems Zambia Limited' sole discretion, Pearl may elect for the Security to be a bank guarantee in which case the Merchant shall, upon request, procure a bank guarantee in favour of Pearl by a bank and in a form acceptable to Pearl and in an amount determined by Pearl Systems Zambia Limited. The Security shall remain in place regardless of any termination of this Agreement for as long as there are residual or contingent liabilities of the Merchant to Pearl Systems Zambia Limited. The amount of the Reserve (either expressed as an absolute amount or as a percentage of past payments into the Merchant Account) shall be determined by Pearl from time to time in its sole discretion. Where a Reserve has not been established at the commencement date of this Agreement, Pearl shall notify the Merchant of the imposition of a Reserve, its method of calculation, its amount as well as any increase or reduction of the Reserve without undue delay in writing at any time during the term of this Agreement.
Sample 1

Related to Reserve and Security

  • Collateral and Security Section 10.01.

  • Access and Security Customer shall employ all physical, administrative and technical controls, screening and security procedures and other safeguards necessary to: (a) securely administer the distribution and use of all Access Credentials and protect against any unauthorized access to or use of the Hosted Services; and (b) control the content and use of Customer Data, including the uploading or other provision of Customer Data for Processing by the Hosted Services.

  • Password and Security If you are issued or create any password or other credentials to access the Service or the portion of the Site through which the Service is offered, you agree not to give or make available your password or credentials to any unauthorized individuals, and you agree to be responsible for all actions taken by anyone to whom you have provided such credentials. If you believe that your credentials have been lost or stolen or that someone may attempt to use them to access the Site or Service without your consent, you must inform us at once at the telephone number provided in Section 6 of the General Terms above. See also Section 16 of the General Terms above regarding how the timeliness of your notice impacts your liability for unauthorized transfers.

  • Borrowing and Security To borrow funds and to mortgage and pledge the assets of the Trust or any part thereof to secure obligations arising in connection with such borrowing;

  • Safety and Security Contractor is responsible for maintaining safety in the performance of this Agreement. Contractor shall be responsible to ascertain from the District the rules and regulations pertaining to safety, security, and driving on school grounds, particularly when children are present.

  • Pledge and Security Interest CUC hereby pledges and lawfully grants to Telesource a security interest in and to the Escrow Account and all funds and assets at any time contained therein, whether in the form of cash, bonds, bills, notes, securities, other instruments, or other obligations, regardless of where or by which person or entity the Escrow Account or such funds or assets shall be held. For purposes of this Agreement and Telesource's continuing security interest in the Escrow Account, the Agent shall maintain at its principal office at the address stated above in ________________, ________________, the funds and other assets comprising the Escrow Account or evidence of record and/or beneficial ownership thereof in accordance with the terms of this Agreement. This Agreement and the Escrow Account shall secure, for the benefit of Telesource and its successors and assign, all current and future obligations of CUC to Telesource pursuant to the Contract and the Notes and any successor instrument thereto. Each party hereto agrees and covenants to take all such action as may be reasonably requested of it to perfect Telesource's first priority security interest in the Escrow Account; provided however, that such security interest shall not be superior to the Agent's rights to be compensated or indemnified in accordance with the terms hereof. Without the prior written consent of Telesource, CUC will not sell, assign, transfer or otherwise dispose of, grant any option with respect to, or mortgage, pledge or otherwise encumber to any person other than Telesource all or part of the Escrow Account or any interest therein. If there occurs any change in the law, rules or regulation or any judicial decision or any other event or circumstance pertaining to or affecting rights of creditors in bankruptcy or insolvency proceedings the result of which would be to increase the likelihood in Telesource's view that the Escrow Account would not or may not be available to Telesource for the purposes described herein and in the Contract, CUC agrees, upon Telesource's request, (i) to negotiate in good faith with Telesource changes in this Agreement and/or the entire mechanism by which CUC's obligations under the Contract and the Notes are secured and (ii) to permit Telesource to hold the balance of the Escrow Account in an account in Telesource's name in an institution selected by Telesource, which institution shall have a combined capital and surplus of not less than $100 million. Telesource shall bear its own costs of such negotiations and associated document preparation. CUC shall not be obligated to accept any new arrangement which increases the amount of collateral that it must provide to secure its repayment and payment obligations under this Agreement. In the event that there is any change in the location of all or part of the Escrow Account, CUC agrees to take all action requested by Telesource to amend, modify or replace Telesource's filings perfecting its security interest in the Escrow Account, or to enable Telesource to effect any required new or additional filing to perfect its said security interest.

  • Credit Union Lien and Security Interest To the extent you owe the Credit Union money as a borrower, guarantor, indorser or otherwise, the Credit Union has a lien on any or all of the funds in any account in which you have an ownership interest at the Credit Union, regardless of the source of the funds. The Credit Union may apply these funds in any order to pay off your indebtedness without further notice to you. If the Credit Union chooses not to enforce its lien, the Credit Union does not waive its right to enforce the lien at a later time. In addition, you grant the Credit Union a consensual security interest in your accounts and agree the Credit Union may use the funds from your accounts to pay any debt or amount owed the Credit Union, except obligations secured by your dwelling, unless prohibited by applicable law. All accounts are nonassignable and nontransferable to third parties.

  • Privacy and Security (a) Each of the Company and its Subsidiaries complies (and requires and monitors the compliance of applicable third parties) in all material respects with all applicable Laws relating to privacy or data security, and reputable industry practice, standards, self-governing rules and policies and their own published, posted and internal agreements and policies (which are in conformance with reputable industry practice) (all of the foregoing collectively, “Privacy Laws”) with respect to: (i) personally identifiable information (including name, address, telephone number, electronic mail address, social security number, bank account number or credit card number), sensitive personal information and any special categories of personal information regulated thereunder or covered thereby (“Personal Information”), whether any of same is accessed or used by the Company or any of its Subsidiaries or any of their respective business partners; and (ii) non-personally identifiable information, whether any of same is accessed or used by the Company or any of its Subsidiaries or any of their respective business partners. (b) Neither the Company nor any of its Subsidiaries uses, collects, or receives any Personal Information or sensitive non-personally identifiable information and does not become aware of the identity or location of, or identify or locate, any particular Person as a result of any receipt of such Personal Information, in a manner which would materially breach or violate any Privacy Laws and materially and adversely impact the business of the Company and its Subsidiaries, taken as a whole. (c) To the Company’s knowledge, Persons with which the Company or any of its Subsidiaries have contractual relationships have not breached any agreements or any Privacy Laws pertaining to Personal Information and to non-personally identifiable information. (d) To the Company’s knowledge, the Company and its Subsidiaries take all commercially reasonable steps to protect the operation, confidentiality, integrity and security of their respective business systems and websites and all information and transactions stored or contained therein or transmitted thereby against any unauthorized or improper use, access, transmittal, interruption, modification or corruption, and there have been no material breaches of same. Without limiting the generality of the foregoing, each of the Company and its Subsidiaries (i) uses industry standard encryption technology and (ii) has implemented a comprehensive security plan that (1) identifies internal and external risks to the security of the Company’s or its Subsidiaries’ confidential information and Personal Information and (2) implements, monitors and improves adequate and effective safeguards to control those risks.

  • Pledge and Security Agreement The security interest granted pursuant to this Agreement is granted in conjunction with the security interest granted to the Security Agent for the Secured Parties pursuant to the Pledge and Security Agreement, and the Grantors hereby acknowledge and affirm that the rights and remedies of the Security Agent with respect to the security interest in the Copyright Collateral made and granted hereby are more fully set forth in the Pledge and Security Agreement, the terms and provisions of which are incorporated by reference herein as if fully set forth herein. In the event that any provision of this Agreement is deemed to conflict with the Pledge and Security Agreement, the provisions of the Pledge and Security Agreement shall control.

  • Data Protection and Security A. In this Agreement the following terms shall have the meanings respectively ascribed to them:

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