Designated Settlement Account definition

Designated Settlement Account means in respect of any payment (a) the Settlement Account; or (b) the Additional Settlement Account which in either case is identified as being the account to or from which the payment is made by the code in the payment instruction for that payment.
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Designated Settlement Account means the bank account or the account opened with other PSPs designated by the Merchant pursuant to Clause 4.8 of this Agreement, or such other accounts as notified by the Merchant and accepted by us from time to time. “Force Majeure Event” means events beyond a Party’s reasonable control (whether or not reasonably anticipated), and which renders impossible the performance of such obligations, including without limitation to insurrection, war, riot, strikes, labour stoppages or slowdowns, explosion, nuclear incident, fire, flood, earthquake, pandemic, the onset of infectious diseases, issuance of quarantine or other prohibition or restrictive orders or requirements by any governmental or public authority, change of law, national or regional shortage of adequate power or telecommunications or transportation, or cyber-attacks, internet service provider failures or delays, or denial of service attacks, or other catastrophic event of a similar nature.
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Examples of Designated Settlement Account in a sentence

  • Guidelines and laws are cited here so that all students and parents know the basis for the rules that must be enforced by the Board.

  • It is the Sending Member’s responsibility (or in relation to an OTC Clear Payment Instruction, the responsibility of the paying Member of the OTC Clear Payment Instruction) to ensure that there are sufficient funds in its Designated Settlement Account for settlement of Special Posting transactions.

  • If the available balance in the Sending Member’s Designated Settlement Account is sufficient to settle the GTRS Payment Instruction when it is first in priority in the Normal Queue, a hold up to the transaction amount will thereupon be applied to the Sending Member’s Designated Settlement Account.

  • In case the projected balances of the Designated Settlement Account for some Selected Payment Members are negative, the system will try to exclude the Selected Payments of such Selected Payment Members based on the criteria as specified in the Operating Procedures in order to reach positive or zero projected balances of each of the Selected Payment Members.

  • After the cut-off message referred to in paragraph 2 is received, the Clearing House Computer will one by one release the hold in Sending Member’s Designated Settlement Account of the funds in respect of outstanding CCP Instructions.

  • Notwithstanding the mode and means by which they are made, all payments by or to each Direct Participant, its Indirect Participants, its ICUs and its Indirect-participating Card Members which are effected through CHATS shall be settled by SI debiting or crediting the Designated Settlement Account of such Direct Participant through CHATS and once debited or credited to such Designated Settlement Account, such payments shall be deemed made, completed, irrevocable and final.

  • A CHATS Payment Instruction Value Today will not be effected or settled through CHATS unless the available balance in the Sending Member’s Designated Settlement Account for the time being is sufficient to make the payment referred to in such payment instruction.

  • All CHATS Transactions (including CHATS Payment Instructions effected by Special Posting but excluding CHATS Transactions in respect of Articles) effected by or in favour of a Direct Participant for the account of an ICU or a TPU shall be settled by the crediting or debiting of the Designated Settlement Account of the Direct Participant and shall be construed for the purposes of these Clearing House Rules as receipts or payments of the relevant Direct Participant.

  • College volunteer/work-study experiencePage | 6 Scholarship Renewal Students who finished their semester at SUNY Korea and are about to continue their next semester will need to fulfill the following criteria in order to renew their scholarships (Academic Excellence Scholarship not applicable to this statement).

  • Each Indirect Participant, ICU, TPU, and Indirect-participating Card Member shall open and keep an account with a Direct Participant and agree with such Direct Participant the terms and conditions on which such Direct Participant shall permit payments by or to such Indirect Participant, ICU, TPU and Indirect-participating Card Member to be settled through such Direct Participant’s Designated Settlement Account.

Related to Designated Settlement Account

  • 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.

  • Gross Settlement Fund means the Settlement Amount plus all interest earned thereon.

  • Gross Settlement Amount means $633,000.00 which is the total amount Defendant agrees to pay under the Settlement except as provided in Paragraph 9 below. The Gross Settlement Amount will be used to pay Individual Class Payments, Individual PAGA Payments, the LWDA PAGA Payment, Class Counsel Fees, Class Counsel Expenses, Class Representative Service Payment and the Administrator’s Expenses.

  • Agent Payment Account means account no. 5000000030266 of Agent at Wachovia Bank, National Association, or such other account of Agent as Agent may from time to time designate to Administrative Borrower as the Agent Payment Account for purposes of this Agreement and the other Financing Agreements.

  • Net Settlement Fund means the Settlement Fund less: (i) any Taxes;

  • Trading Account means the unique personified register of all completed transactions, open positions, orders and nontrading operations on the trading platform.

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

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

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • Viatical settlement provider means a person, other than a viator, who enters into or effectuates a viatical settlement contract. Viatical settlement provider does not include:

  • CCASS Settlement Day means the term “Settlement Day” as defined in the General Rules of CCASS.

  • Structured settlement annuity means an annuity purchased in order to fund periodic payments for a plaintiff or other claimant in payment for or with respect to personal injury suffered by the plaintiff or other claimant.

  • Designated Deposit Account is Borrower’s deposit account, account number , maintained with Bank.

  • Physical Settlement Amount For any Settlement Date for which Physical Settlement is applicable, an amount in cash equal to the product of (a) the Forward Price in effect on the relevant Settlement Date multiplied by (b) the Settlement Shares for such Settlement Date.

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

  • Net Settlement Amount means the Gross Settlement Amount, less the following payments in the amounts approved by the Court: Individual PAGA Payments, the LWDA PAGA Payment, Class Representative Service Payment, Class Counsel Fees Payment, Class Counsel Litigation Expenses Payment, and the Administration Expenses Payment. The remainder is to be paid to Participating Class Members as Individual Class Payments.

  • Settlement Funds means moneys allocated to this state from the environmental mitigation trust specified in par. (d) and received by the state from the trustee.

  • Payment Account means a segregated non-interest-bearing corporate trust account maintained by the Property Trustee with the Bank in its trust department for the benefit of the Securityholders in which all amounts paid in respect of the Debentures shall be held and from which the Property Trustee shall make payments to the Securityholders in accordance with Sections 401 and 402.

  • 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.

  • Cash Settlement Amount means the “Cash Settlement Amount” as determined by the Calculation Agent in accordance with Paragraph 6.

  • 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).

  • Eligible Deposit Account means either (a) a segregated account with an Eligible Institution or (b) a segregated trust account with the corporate trust department of a depository institution organized under the laws of the United States of America or any one of the states thereof or the District of Columbia (or any domestic branch of a foreign bank), having corporate trust powers and acting as trustee for funds deposited in such account, so long as any of the securities of such depository institution shall have a credit rating from each Rating Agency in one of its generic rating categories that signifies investment grade.