Acquired Account definition

Acquired Account has the meaning specified therefor in Section 8.01(b).
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Acquired Account means (a) a credit account that has been acquired by Bank from GE Capital Financial Inc. pursuant to that certain Purchase and Sale Agreement, dated as of December 11, 2009, between Bank and GE Capital Financial Inc., and (b) a credit account the receivables of which were either (i) contributed to Bank from GE Consumer Finance Inc. pursuant to that certain Non-Cash Capital Contribution Agreement, dated as of December 30, 2008, between GE Consumer Finance Inc. and Bank or (ii) conveyed to Bank from Monogram Credit Services, LLC pursuant to that certain Purchase and Sale Agreement, dated as of December 30, 2008, between Monogram Credit Services, LLC and Bank.
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Acquired Account means a Sears’ Credit Card account in existence as of the Effective Date and acquired by Purchaser under the Purchase Agreement.
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Examples of Acquired Account in a sentence

  • In respect of each Eligible Acquired Account, the BSD Account Debtors (i) have accepted goods or services and owe and are obligated to pay the full amounts stated in the invoices according to their terms and (ii) have no right of set-off.

  • Each of PFS and Borrower agrees to apply each remittance against its respective Account or Acquired Account no later than three (3) Business Days from the date such remittance is deposited into the Special Account.

  • Except as set forth on Schedule 3.19, there is no debtor with respect to any of the Acquired Accounts Receivable that has refused or threatened to refuse to pay its obligations for any reason, no debtor with respect to any Acquired Account Receivable is insolvent or bankrupt and none of the Acquired Accounts Receivable are pledged to any Third Party by Seller.

  • In addition, PFS and Borrower shall promptly apply any credits owing in respect to any Account or Acquired Account when due.

  • Seller shall, within two (2) business days following receipt thereof, forward to the Company any payments received by Seller that belongs to the Company (each such payment to be forwarded to the Company without discount or deduction even if such payment relates to an Acquired Accounts Receivable, in which event the Company shall treat such payment as a collection with respect to an Acquired Account Receivable for the purposes of Section 3.4 hereof).

  • Until Acquired Accounts are included in the calculation of Total Account Volume as provided in the Section 1 (c), Customer will pay the then applicable charge (as determined under Section 1 (a) or this Schedule C) for each Acquired Account.

  • Accounts Owner does hereby sell, transfer, assign, set over and otherwise convey to CAC, without recourse except as provided herein, and CAC does hereby purchase, on a daily basis, one hundred percent (100%) of the Acquired Account Receivables in excess of the Aggregate Retained Amount (including all collections and payments with respect to, and all proceeds of, such Acquired Account Receivables).

  • Acquired Account Alternatives Section 226.59(g)-We submit that a "reasonably practicable" transition period of up to 1 year be provided issuers before account re-evaluations are mandated on acquired accounts.

  • In the event that Seller receives payments attributed to Security Services rendered after the Closing Date to Acquired Account customers (other than payments of Pre-Closing Receivables), Seller shall upon receipt of any such payment remit it to Buyer.

  • Except as set forth on Schedule 2.6(c) and subject to any reserves on the Latest Balance Sheet, which reserves were calculated consistent with past practice in the ordinary course of business, (i) no such Acquired Account Receivable is subject to any set-offs or counterclaims, and (ii) each Acquired Account Receivable either has been or will be collected in full, without any setoff or counterclaims, within 120 days after the Closing Date.


More Definitions of Acquired Account

Acquired Account means an account acquired by Accounts Owner pursuant to a written purchase agreement entered into by Accounts Owner and incorporated into the Program, any and all documents, Books and Records pertaining thereto.
Sample 1
Acquired Account means any Account acquired by DSRMNB or DSRM (or any of their successors) following the date hereof which arose from or in connection with the business of any Person that is not a subsidiary of the Parent as of the date hereof.
Sample 1
Acquired Account has the meaning assigned to it in the definition of “Eligible Accounts.”
Sample 1
Acquired Account means a retail consumer credit card account purchased by MBNA from an ABC Affiliate pursuant to the Asset Purchase Agreement. ABC agrees that the Acquired Accounts shall not generate any Royalty compensation.
Sample 1

Related to Acquired Account

  • Transferred Account means each account into which an Account is transferred, provided that (i) such transfer is made in accordance with the Credit Card Guidelines and (ii) such account can be traced or identified as an account into which an Account has been transferred.

  • Related Account means an Account with respect to which a new credit account number has been issued by the applicable Account Owner or Servicer or the applicable Transferor under circumstances resulting from a lost or stolen credit card and not requiring standard application and credit evaluation procedures under the Credit Card Guidelines.

  • Investment Account As defined in Section 3.12(a).

  • Designated Accounts means any and all unsecured credit facilities (including without limitation unsecured card or non-card credit facility) that you have with the Participating FIs and excludes joint accounts, any renovation loan, education loan, credit facility granted for businesses or business purposes and such other credit facility that is excluded under the MAS regulations relating to unsecured credit facilities to individuals.

  • Excluded Account means (a) any deposit account specifically and exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of any Loan Party’s employees and (b) any Xxxxx Cash Accounts.

  • FT Account Pool #: Mortgagor's Name, Address and Zip Code: Mortgage Loan Number: Reason for Requesting Documents (check one)

  • Seller Account shall have the meaning set forth in the preamble of this Agreement.

  • Deferred Account means the participant's Deferred Pension Account, Deferred Dividends Account, Deferred Retainer Account, Deferred Fees Account, Deferred Cash Account and/or Deferred Stock Account.

  • Designated Account means the Deposit Account of Borrower identified on Schedule D-1 to the Agreement (or such other Deposit Account of Borrower located at Designated Account Bank that has been designated as such, in writing, by Borrower to Agent).

  • Controlled Account means each deposit account and securities account that is subject to a Qualifying Control Agreement.

  • Funding Accounts has the meaning assigned to such term in Section 4.01(h).

  • Settlement Account means an account established at a financial institution designated by Merchant as the account to be credited and debited by the Servicers for Transactions, Card Fees, Chargebacks and other amount assessed by a Card Association and passed- through to Merchant pursuant to the terms of this Agreement.

  • Distribution Account Deposit Date As to any Distribution Date, 12:30 p.m. Pacific time on the Business Day immediately preceding such Distribution Date.

  • Linked Account means any controlled disbursement account, controlled balance account or other deposit account maintained by a Collection Account Bank for the Parent, the Performance Guarantor, the Servicer, any Originator or any Affiliate thereof and linked to any Collection Account by a zero balance account connection or other automated funding mechanism or controlled balance arrangement.

  • Seller’s Account means such account as the Seller may specify to the Guarantor from time to time;

  • Unallocated Account means the portion of the Trust to which Employer Contributions are made during the Plan Year, in which shares of Company Stock will be held prior to allocation to Participant Accounts, to which dividends paid on such shares of Company Stock will be paid, and from which will be paid expenses of the Plan and Under-Payment Expenses as defined in Section 3.5.

  • Transaction Account means a cash account established and maintained by Repo Custodian for the Funds to effect repurchase transactions pursuant to the Master Agreement.

  • Investment Accounts means the Collateral Account, Securities Accounts, Commodities Accounts and Deposit Accounts.

  • Restricted Account means an account at Xxxxx Fargo Bank, N.A. associated with the Loan to which Borrower’s access is restricted. Capitalized terms used in these Additional Terms and Conditions to Disbursement Instruction Agreement and not otherwise defined herein shall have the meanings given to such terms in the body of the Agreement.

  • Designated Account Property The Designated Accounts, all cash, investments, Financial Assets, securities and investment property held from time to time in any Designated Account (whether in the form of deposit accounts, Physical Property, book-entry securities, Uncertificated Securities or otherwise), including the Reserve Account Deposit, and all proceeds of the foregoing but excluding all Investment Earnings thereon.

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Segregated Account means a client bank account as defined by and held in accordance with the Applicable Regulations.

  • frozen account means an account with a relevant institution which is held or controlled (directly or indirectly) by a designated person;

  • Aggregate Account means, with respect to each Participant, the value of all accounts maintained on behalf of a Participant, whether attributable to Employer or Employee contributions, subject to the provisions of Section 9.2.

  • Excluded Accounts means any deposit account or securities account used exclusively as (a) payroll and other employee wage and benefit accounts, (b) tax accounts, including sales tax accounts, (c) escrow, fiduciary or trust accounts, (d) zero balance accounts and (e) the funds or other property held in or maintained in any such account identified in clauses (a) through (d).

  • Initial Account has the meaning specified in the Transfer Agreement.