Settlement Account. 4.1 The Scheduling Coordinator shall maintain at all times an account with a bank capable of Fed-Wire transfer to which credits or debits shall be made in accordance with the billing and Settlement provisions of Section 11 of the CAISO Tariff. Such account shall be the account as notified by the Scheduling Coordinator to the CAISO from time to time by giving at least 20 days written notice before the new account becomes operational, together with all information necessary for the CAISO's processing of a change in that account.
Settlement Account. 15.1 Merchant must maintain a Settlement Account in Merchant's name in satisfactory condition at a depository institution under arrangements acceptable to Provider. The Settlement Account will be subject to the provisions of Section 17.
15.2 Subject to the terms and conditions of this Agreement, Provider agrees to provisionally credit Merchant for each Transaction that Provider accepts from Merchant. Merchant agrees that Merchant Bank may charge the Settlement Account for the amount of any Transaction processed under this Agreement, or any agreement Provider may have with any Merchant Affiliate that results in a Chargeback, or for any Credit Voucher or other reimburse mentor Processing Fees to which Provider may be entitled. Merchant agrees that Provider may audit all Transaction calculations and that Merchant Bank shall have the right, without notice, to make withdrawals, deposits, or other Adjustments to or from the Settlement Account for any deficiencies or overages. Provider shall presume that any amounts Provider pays to or debits from Merchant are correct unless Merchant disputes these by sending Provider written notice within thirty (30) days of the date of the applicable statement containing any disputed payments or debits. Merchant understands that Processor shall not have access to or hold settlement funds. With respect to Visa Transactions, Merchant Bank is responsible for providing settlement funds directly to Merchant.
15.3 If Merchant chooses to rent or lease processing equipment from Processor or utilizes software provided by Processor for use in processing Transactions, Merchant agrees to pay Provider: (i) a pre- determined monthly rental fee; (ii) any initial upfront costs as required; and (iii) all applicable taxes for such Card processing equipment or software utilization. Any such fees for rental equipment shall, for the purposes of this Section 15 and Section 16, be considered “amounts due under this Agreement.”
15.4 If the Settlement Account is closed, Merchant Bank or Processor may terminate this Agreement, effective immediately, upon written or oral notice (with written confirmation in the event of oral notice) unless Merchant opens another Settlement Account acceptable to Provider. Merchant may change the Settlement Account upon prior written approval by Provider, which approval will not be unreasonably withheld.
15.5 Merchant authorizes Merchant Bank or its agents or designated representatives to initiate debit and credit entries ...
Settlement Account. 9.1 Merchant must maintain a Settlement Account in Merchant’s name in satisfactory condition at a depository institution under arrangements acceptable to Bank and Clearent. The Settlement Account will be subject to the provisions of Section 19 of this Merchant Agreement.
9.2 Merchant agrees to maintain a minimum balance of funds in the Settlement Account as Bank and Clearent may specify to Merchant in writing from time to time.
9.3 Subject to the terms and conditions of this Merchant Agreement, Bank agrees to provisionally credit Merchant for each Transaction that Bank and Clearent accepts from Merchant. Merchant agrees that Bank may charge the Settlement Account for the amount of any Transaction processed under this Merchant Agreement that results in a Chargeback, or for any Sales Draft or other reimbursement or Processing Fees to which Bank or Clearent may be entitled.
9.4 Merchant agrees that Bank and Clearent may audit all Transaction calculations and that Bank shall have the right, without notice, to make withdrawals, deposits, or other adjustments to or from the Settlement Account for any deficiencies or overages.
9.5 If the Settlement Account is closed, Bank or its designated representative may terminate this Merchant Agreement, effective immediately, upon written or oral notice (with written confirmation in the event of oral notice) unless Merchant opens another Settlement Account acceptable to Bank and Clearent. Merchant may change the Settlement Account upon prior written approval by Bank and Clearent, which approval will not be unreasonably withheld.
9.6 Merchant authorizes Bank or its agents or designated representatives to initiate debit and credit entries and adjustments to the Settlement Account or the Reserve Account through the ACH settlement process for amounts due under this Merchant Agreement. This authorization will remain in full force and effect until termination of the Merchant Agreement and the full and final payment of all obligations of Merchant due under this Merchant Agreement. Merchant agrees to be bound by all applicable terms and provisions of the ACH Rules or other applicable Card Brand or network, in effect from time to time. Merchant acknowledges and agrees that Bank and Clearent will not be liable for any delays in receipt of funds, any failure by Merchant to receive funds, or errors in debit or credit entries caused by Merchant, or third parties, including but not limited to any Card Brand or any financial institution. ...
Settlement Account. CUSTOMER represents and warrants that the Settlement Account is a demand deposit account which is used primarily for business purposes. CUSTOMER may not designate an account which is used primarily for personal or consumer purposes as its Settlement Account.
Settlement Account. Money debited to the Capital Account in respect of the cost of purchases made on the Client's behalf and money received and receivable upon settlement of each sale made on the Client's behalf will be credited to this account and held there until the relevant settlement date.
Settlement Account. 4.1 The EIM Participating Resource Scheduling Coordinator shall maintain at all times an account with a bank capable of Fedwire transfer and, at its option, may also maintain an account capable of ACH transfers, to which credits or debits that arise under Section 29 of the CAISO Tariff shall be made in accordance with the billing and Settlement provisions of Section 11 of the CAISO Tariff. Such account shall be the account as notified by the EIM Participating Resource Scheduling Coordinator to the CAISO from time to time by giving at least 20 days written notice before the new account becomes operational, together with all information necessary for the CAISO's processing of a change in that account.
Settlement Account. “Settlement Account” means an account established and maintained by AGENCY with a financial institution through which the following may occur: (a) deposit of funds for Debit Entries,
Settlement Account. CLIENT shall, at all times, maintain an Account (“Settlement Account”) at a bank that is a member of the Federal Reserve ACH System. All credits for collected funds and debits for fees, payments and Returned Items under the terms of this Agreement shall be made to the Settlement Account For the services to be performed by PRI hereunder as set forth in the Specifications as published from time to time by PRI, CLIENT authorizes PRI to credit and or debit the Settlement Account, and CLIENT warrants that it shall, at all times, maintain a sufficient balance in said account to cover overdraft of the Escrow Account as might result from Returned Items and service fees, and other charges plus such additional fees charged by PRI for the performance of services beyond the terms of this Agreement or resulting from increased expenses incurred by the failure of CLIENT to furnish data as specified in the Specifications as published from time to time by PRI, upon demand of PRI. CLIENT may not close or change the Settlement Account without written notice to PRI. CLIENT will be solely liable for alt fees and costs associated with the Settlement Account and for all overdrafts CLIENT hereby grants to PRI a security interest in the Settlement Account as well as any other account owned by Client to the extent of any and alt fees, payments and Returned Items which may arise under this Agreement, and CLIENT shall execute any document and obtain any consents or waivers from. the bank at which the Settlement Account is maintained as requested by PRI to protect its security interest therein.
Settlement Account. Disbursement Agent on behalf of Xxxxx has established the Settlement Account. Seller acknowledges that Xxxxx acts as Xxxxxx’s agent for the limited purpose of placing funds with the Disbursement Agent, and that funds held by Xxxxx as Seller’s agent are not a deposit account or other liability of Buyer. Buyer shall maintain records of Xxxxxx’s interest in the funds maintained in the Settlement Account.
Settlement Account. The Settlement Account for Applicable Transactions submitted under this Agreement shall be such account at a financial institution located in the United States of America as may be designated from time to time by Carrier.
