Chargeback Account definition

Chargeback Account means an outstanding Purchased Account which is past the Account Due Date or is determined to no longer be an Acceptable Account.
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Chargeback Account means any Account that represents the unpaid portion of a previously issued invoice which is not paid in full due to adjustments and offsets arising in the normal course of business and which is carried as an open Account until verification and issuance of a credit honoring the adjustment is issued and the amount of such credit is offset against such Account or until such Account is paid in full by the applicable Account Debtor.
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Chargeback Account means a Bank account held by the Master Merchant referred to in Paragraph 19.4 of this Agreement wherein the amount of Transactions charged back by the Bank to the Merchant shall be debited in the discretion of the Bank.
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Examples of Chargeback Account in a sentence

  • Unless specifically designated otherwise in writing by Summit, all Accounts shall be purchased with recourse and shall become a Chargeback Account if not paid in full by the Account Due Date.

  • If (i) a Purchased Account is not paid in full by the Account Due Date, or (ii) if at any time Summit determines that the Purchased Account is no longer an Acceptable Account, the Purchased Account shall thereupon automatically be a Chargeback Account without any action by Summit.

  • All payments required to be made to Customer under this Agreement for Visa/MasterCard/Discover will be made by Bank to Customer's Deposit/ Chargeback Account, via electronic funds transfer through the Automated Clearing House (“ACH”) or by federal wire transfer as soon as practicable after Bank's receipt of such funds from the Transaction Card issuer.

  • Client shall immediately re-purchase all Chargeback Accounts by paying Summit the amount of the outstanding Advance against the Chargeback Account, plus accrued interest, and Collateral Management Fees thereon.

  • If such Acceptable Inventory is not promptly and diligently sold and shipped, or the account created thereby does not meet all requirements of an Acceptable Account, or Summit declines for any reason to purchase the account created thereby, the advance based upon Acceptable Inventory may be treated as a Chargeback Account under the Financing Agreement.

  • After the occurrence of an Event of Default, Summit shall retain the exclusive right to collect outstanding Chargeback Accounts, regardless of whether the Chargeback Account has been repurchased by Client, until all obligations owing to Summit by Client have been paid in full.

  • After the occurrence of an Event of Default, Transfac shall retain the exclusive right to collect outstanding Chargeback Accounts, regardless of whether the Chargeback Account has been repurchased by Client, until all obligations owing to Transfac by Client have been paid in full.

  • The volatility is changing with both firm specific and macroeconomic conditions.

  • If a Purchased Account is not paid in full by the Account Due Date, or if at any time Summit determines that the Purchased Account is no longer an Acceptable Account, the Purchased Account shall thereupon automatically be a Chargeback Account without any action by Summit.

  • If such Acceptable Inventory is not promptly and diligently sold and shipped, or the account created thereby does not meet all requirements of an Acceptable Account, or Summit declines for any reason to purchase the account created thereby, the advance based upon Acceptable Inventory may be treated as a Chargeback Account under the Second Amended and Restated Financing Agreement.


More Definitions of Chargeback Account

Chargeback Account means an Account that was previously accepted by ------------------ a Credit Card Issuer which acceptance is subsequently reversed giving rise to a reimbursement obligation from the Seller or ADS in favor of the Credit Card Issuer.
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Related to Chargeback Account

  • 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.

  • Billing Account is the checking account from which all Service fees will be automatically debited.

  • Separate Account shall have the respective meanings assigned to such terms in Section 3 of ERISA.

  • 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.

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • Tax Account shall have the meaning set forth in Section 8.6 hereof.

  • Expense Account The account established and maintained pursuant to Section 3.25.

  • Excess Loss Account has the meaning set forth in Reg. Section 1.1502-19.

  • Subsidy Account If the Trust Estate contains any Subsidy Loans, the deposit account or accounts created and maintained by the Servicer for deposit of Subsidy Funds and amounts payable under interest subsidy agreements relating to mortgage loans other than the Mortgage Loans.

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

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

  • Payroll Deduction Account means the bookkeeping account established for a Participant in accordance with Section 6.

  • Member Account means the regular account and the variable account.

  • Financial Account means an account maintained by a Financial Institution, and includes: (1) in the case of an Entity that is a Financial Institution solely because it is an Investment Entity, any equity or debt interest (other than interests that are regularly traded on an established securities market) in the Financial Institution; (2) in the case of a Financial Institution not described in subparagraph 1(q)(1) of this Article, any equity or debt interest in the Financial Institution (other than interests that are regularly traded on an established securities market), if (i) the value of the debt or equity interest is determined, directly or indirectly, primarily by reference to assets that give rise to U.S. Source Withholdable Payments, and (ii) the class of interests was established with a purpose of avoiding reporting in accordance with this Agreement; and (3) any Cash Value Insurance Contract and any Annuity Contract issued or maintained by a Financial Institution, other than a noninvestment- linked, nontransferable immediate life annuity that is issued to an individual and monetizes a pension or disability benefit provided under an account that is excluded from the definition of Financial Account in Annex II. Notwithstanding the foregoing, the term “Financial Account” does not include any account that is excluded from the definition of Financial Account in Annex II. For purposes of this Agreement, interests are “regularly traded” if there is a meaningful volume of trading with respect to the interests on an ongoing basis, and an “established securities market” means an exchange that is officially recognized and supervised by a governmental authority in which the market is located and that has a meaningful annual value of shares traded on the exchange. For purposes of this subparagraph 1(q), an interest in a Financial Institution is not “regularly traded” and shall be treated as a Financial Account if the holder of the interest (other than a Financial Institution acting as an intermediary) is registered on the books of such Financial Institution. The preceding sentence will not apply to interests first registered on the books of such Financial Institution prior to July 1, 2014, and with respect to interests first registered on the books of such Financial Institution on or after July 1, 2014, a Financial Institution is not required to apply the preceding sentence prior to January 1, 2016.

  • Special Account means the account referred to in Section 2.02 (b) of this Agreement;

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

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • Matching Contribution Account means the separate, individual account established on behalf of a Participant to which the Matching Contributions made on such Participant's behalf are credited, together with all earnings and appreciation thereon, and against which are charged any withdrawals, loans and other distributions made from such account and any losses, depreciation or expenses allocable to amounts credited to such account.

  • Joint Account means an Account opened in more than one name;

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

  • Commercial account means an arrangement whereby a retail distributor sells hazardous chemicals to an employer, generally in large quantities over time and/or at costs that are below the regular retail price.

  • User Account means an account under the name of the Customer in relation to the Service subscribed by the Customer.

  • After-Tax Account means a Participant’s account to which are credited After-Tax Contributions, if any, and earnings and losses thereon.

  • Deferral Account means the Company's accounting of the Director's accumulated Deferrals plus accrued interest.

  • Company Contribution Account means (i) the sum of the Participant’s Company Contribution Amounts, plus (ii) amounts credited or debited to the Participant’s Company Contribution Account in accordance with this Plan, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant’s Company Contribution Account.

  • Merchant Account means the merchant account facility agreed between you and the Merchant Acquiring Bank.