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

  • 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.

  • We are also currently working in integrating using a API various providers that can automate the ID Verification process and in a later stage document reviewing.

  • Any change to the Designated Settlement Account shall take effect only after the same has been approved and confirmed by us.

  • The Designated Settlement Account should be under the same name as the name you registered with the Platform Provider.

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.

  • 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).

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

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

  • 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.

  • Payment Account means a segregated non-interest-bearing corporate trust account maintained by the Property Trustee for the benefit of the Holders in which all amounts paid in respect of the Notes will be held and from which the Property Trustee, through the Paying Agent, shall make payments to the Holders in accordance with Sections 3.1, 4.1 and 4.

  • 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).