Direct Debiting Scheme definition

Direct Debiting Scheme means the scheme for the manual or automated debiting of bank accounts operated in accordance with the detailed rules of certain members of the Association for Payment Clearing Services;
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Direct Debiting Scheme means the system for the manual or automated debiting of bank accounts by Direct Debit operated in accordance with the principal rules of certain members of the Association for Payment Clearing Services.
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Direct Debiting Scheme means the system for the manual or automated debiting of bank accounts by Direct Debit operated in accordance with the principal rules of certain members of the Association for Payment Clearing Services. "Discount Rate" means 5.8720 per cent. per annum, whereby discounting shall take place on the basis of one year of 360 days being equivalent to 12 months, each month consisting of 30 days.
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Examples of Direct Debiting Scheme in a sentence

  • The Servicer shall operate its Direct Debiting Scheme in accordance with its Customary Operating Practices.

  • If an Obligor will not permit a Direct Debit to be made to his bank account under the Direct Debiting Scheme in relation to a Financing Contract or if an existing Direct Debit is cancelled, the Servicer shall use all reasonable endeavours in accordance with its Customary Operating Practices to ensure that alternative payment arrangements are promptly made which ensure the timely payment of amounts payable by the Obligor under such Financing Contract.

  • Prior to termination of this Agreement, the Administrator, the Seller, the Mortgages Trustee and Funding shall co-operate to obtain the agreement of the Borrowers to a new bank mandate permitting the Mortgages Trustee to operate the Direct Debiting Scheme.

  • Prior to termination of this Agreement, the Servicer, the Seller, the Mortgages Trustee and the Funding Beneficiaries shall co-operate to obtain the agreement of the Borrowers to a new bank mandate permitting the Mortgages Trustee to operate the Direct Debiting Scheme.

  • We confirm that payments received by the Collections Account Provider from the Borrowers, whether under the Direct Debiting Scheme or otherwise, will be credited to one of the other Initial Collection Accounts.

  • In the case where a grantee no longer has any legal capacity to exercise the vested option, the vested option may be exercised within that period by the persons charged with the duty of representing the grantee under the relevant laws in Hong Kong.

  • For these purposes the Club may participate as an Originator in the Direct Debiting Scheme operated by members of the Association for Payment of Clearing Services for the purposes of collecting subscriptions for any class of membership and any other payments due from members and thus the Club may enter into any indemnity required by the Banks upon whom Direct Debits are to be originated in a form approved by the Board.

  • Arctic coastal countries have conducted complex investigations needed to support submissions to the CLCS for an ECS in the Arctic.

  • Without prejudice to the Servicing Policy, and subject to compliance with any applicable laws, regulations and guidance (including MCOB in relation to any Regulated Mortgage Contracts) the Servicer will use its reasonable endeavours to recover all amounts due under or in connection with any Loan on behalf of the Issuer including taking all necessary steps to collect by direct debit where a Borrower permits such collection and complying with all requirements from time to time of the Direct Debiting Scheme.

  • After the acclamation and approval of the relevant documentations, the CBK-SNP will insure function of the Direct Debiting Scheme in Kosovo (“Scheme”), The Scheme was designed to enable development on the bases of posterior necessities and requests for integration in the International, Regional and European systems.


More Definitions of Direct Debiting Scheme

Direct Debiting Scheme means the system for the manual or automated debiting of bank accounts by Direct Debit operated in accordance with the principal rules of certain members of the Association for Payment Clearing Services. "Discount Rate" means 4.1951 per cent. per annum, which equals the weighted average of (i) the estimated fixed rates under the Swap Agreement and (ii) an estimate of the hypothetical swap rate (being higher than the fixed rate under the Swap Agreement) theoretically needed to swap the floating rate payments of the Subordinated Loan, plus the Servicer Fee at a rate of 1 per cent. per annum, plus 0.03 per cent. for any administrative cost and fees. The Discount Rate shall include an amount equal to the Interest Compensation Rate which is available to pay Interest Compensation Order of Priority Required Amounts on any Payment Date.
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Related to Direct Debiting Scheme

  • collective investment scheme means any arrangements with respect to property of any description, including money, the purpose or effect of which is to enable Persons taking part in the arrangements (whether by becoming owners of the property or any part of it or otherwise) to participate in or receive profits or income arising from the acquisition, holding, management or disposal of the property or sums paid out of such profits or income.