Direct Settlement Process definition

Direct Settlement Process has the meaning given to it in Section 3.2(b).
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Direct Settlement Process means the direct authorization and settlement by Bank (that is, not through a Card Network) of purchases of goods and services with the MoneyCard at Retailer Locations [***].
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Examples of Direct Settlement Process in a sentence

  • Bank and Retailer agree that purchases through the Retailer Website may be included in the Direct Settlement Process at a later date pursuant to Section 7.17(e).

  • Bank will develop and provide to Retailer within thirty (30) days before the launch of the Private Label Credit Card new Operating Procedures to address the Private Label Credit Card and Direct Settlement Process for the Co-Brand Credit Card.

  • The Direct Settlement Process will be implemented for the PLCC Program and Co-Brand Program prior to the launch of the PLCC Program.

  • Each of Bank and Retailer acknowledges and agrees that the implementation of the Direct Settlement Process shall be a condition precedent to the launch of the PLCC Program.

  • If the parties agree to use the Direct Settlement Process for such sales, such sales shall thereafter be deemed Co-Brand Purchases and the Retailer Website will be deemed a Retailer Sales Channel for all purposes of this Agreement.

  • For any period during the Term in which there is no Direct Settlement Process, Bank shall pay to Walmart on a [***] basis an amount equal to [***].

  • The Parties may elect, on a timeline mutually agreed upon by the Parties, that Bank, at its sole cost and expense, adopt and implement the Direct Settlement Process, whereupon settlement of MoneyCard transactions for the purchase of goods or services at Retailer Locations shall be undertaken in accordance with the processes and requirements set forth in Schedule 3.8 of this Agreement, subject to compliance with applicable Card Network regulations, [***].

Related to Direct Settlement Process

  • Purchase Contract Settlement Fund has the meaning specified in Section 5.5.

  • Purchase Contract Settlement Date has the meaning specified in the Recitals.

  • 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.

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

  • TARGET Settlement Day means any day on which TARGET2 is open for the settlement of payments in euro;