Dormant Account Holder definition

Dormant Account Holder means the holder of a Dormant Account, in respect of which a sum equal to the Agreed Proportion Amount has been transferred to the Reclaim Fund and a sum equal to the Remaining Balance of the Dormant Account Balance has been transferred by the Participant to one or more Eligible Charities pursuant to clause 1 of Part B (as modified by clause 5.2(a) of Part C) of this agreement;
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Dormant Account Holder means a person having a legal or beneficial interest in, or right (including any encumbrance) over, monies deemed to be held in a dormant account pursuant to section 4(1);
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Dormant Account Holder means a person having a legal or beneficial interest in, or right over, monies deemed to be held in a dormant account;
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Examples of Dormant Account Holder in a sentence

  • Interest credited since transfer to Reclaim Fund (£) The total of accrued interest of the Reclaimed Balances from the Transfer Date of each Dormant Account Balance into the Reclaim Fund until the date at which it ceases to become dormant (i.e. the date on which the Dormant Account Holder is repaid by the Participant as agent of the Reclaim Fund).

  • Account in respect of which, prior to transfer to the Reclaim Fund, the Participant has details of, and is able to ascertain, the balance of the account that is owing to a specific Dormant Account Holder but is unable to confirm with accuracy for the purposes of the transfer the interest rate and/or Accrued Interest applicable to that Dormant Account.

Related to Dormant Account Holder

  • Dormant Account means the Customer’s trading account in which there have been no trades for a period of more than 60 Calendar days.

  • Joint Account Holder means a person in whose name a Joint Account is maintained;

  • Relevant Account Holder means any account holder with the Relevant Clearing System which has Underlying Notes (as defined in the definition of “Global Bearer Note”) credited to its securities account from time to time;

  • Account Holder The term “Account Holder” means the person listed or identified as the holder of a Financial Account. A person, other than a Financial Institution, holding a Financial Account for the benefit of another person as an agent, a custodian, a nominee, a signatory, an investment advisor, an intermediary, or as a legal guardian, is not treated as the Account Holder. In these circumstances that other person is the Account Holder. For example in the case of a parent/child relationship where the parent is acting as a legal guardian, the child is regarded as the Account Holder. With respect to a jointly held account, each joint holder is treated as an Account Holder.

  • Merchant Account means an account used to submit credit card or debit card transactions or process credit card or debit card transactions.

  • Eligible Account Holder means any Person holding a Qualifying Deposit on the Eligibility Record Date for purposes of determining Subscription Rights and establishing subaccount balances in the liquidation accounts to be established pursuant to Section 15 hereof.

  • Grant Account means the account opened by the Association on its books in the name of the Borrower to which the amount of the Grant is credited.”

  • Participant Account means that separate account maintained under the Plan to record the amount that a Participant has contributed to the Plan during an Offering Period.

  • Client Account means the unique personalized account of the Client consisting of all Completed Transactions, Open Positions and Orders on the Platform, the Balance of the Client money and deposit/withdrawal transactions of the Client money. It is understood that the Company may use the term Trading Account or Account on its Website or communications, which shall mean your Client Account.

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

  • Online Account means the Bank account from which you will be conducting transactions using a Service;

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

  • Inactive Trading Account means a Client's trading account which has not had an open position, pending order, or non-trading operation in 3 months period.

  • 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.

  • Running Account Bill means a bill for the payment of "On Account" money to the Contractor during the progress of work on the basis of work done and the supply of non-perishable materials to be incorporated in the work.

  • Concentration Account has the meaning provided in Section 6.13(c).

  • New Account means each charge account established pursuant to an Account Agreement between FSB and any Person, which account is designated pursuant to Subsection 2.03(a) to be included as an Account and identified on an Account Schedule delivered pursuant to Sections 2.01 and 2.03.

  • Client Accounts means accounts of Clients (i) that are Controlled by an Access Person and (ii) in which no Access Person has a substantial proportionate economic interest; provided that, the Client pays a management, advisory or any other similar arms-length fee to the Access Person and the beneficiary of the Client Account is not an Immediate Family member of an Access Person.

  • Concentration Accounts has the meaning ascribed to it in Annex C.

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

  • Covered Account means an Account established by a financial intermediary for another as the owner of record on the Fund Registry and through which such owner of record has the ability to conduct transactions in Fund shares directly with and through BNYM.

  • 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.

  • Omnibus Account means any Shareholder Account the record owner of which is a registered broker-dealer which has agreed with the Transfer Agent to provide sub-transfer agent functions relating to each Sub-shareholder Account within such Shareholder Account as contemplated by this Schedule I in respect of each of the Funds.

  • 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.

  • Designated Depository Institution A depository institution (commercial bank, federal savings bank, mutual savings bank or savings and loan association) or trust company (which may include the Trustee), the deposits of which are fully insured by the FDIC to the extent provided by law.