Escrow Bank Account definition

Escrow Bank Account means the bank account in which the Escrow Amount is kept in escrow;
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Escrow Bank Account mean the bank account held by Service Provider in bank(s) appointed by the Service Provider for purpose of pooling funds collected from Customers on behalf of the Merchant and facilitating the transfer of funds in final settlement to the Merchant after deduction of TDR or any other amount receivable from Merchant pursuant to the said RBI Guidelines or any other RBI guidelines amended from time to time
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Escrow Bank Account means a Escrow bank account opened in accordance with the RBI regulations related
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Examples of Escrow Bank Account in a sentence

  • The agreed Escrow Bank Account at Bank of Zambia would help to ensure that the loan repayments were made on time without default; hence there will be no additional penalty charges.

  • We recommend that wet columns not be stored for a prolonged period of time.

  • The Offeror has opened an Escrow Bank Account bearing Account No. 50200046893541 (“Escrow Account AMGL-EXIT OFFER”) with HDFC Bank Limited, a Company incorporated under the Companies Act, 1956 and carrying on business as a banking Company under the Banking Regulation Act, 1949, having its registered office at HDFC Bank House, Senapati Xxxxx Xxxx, Lower Parel, Mumbai – 400013 and acting through its branch office at Opp.

  • In consideration of the foregoing, Stockholder hereby grants Purchasers a security interest in the Escrow Bank Account in order to secure Stockholder's covenants and obligation hereunder, including without limitation under Section 7 hereof.

  • The Escrow and Substitution Agreement were executed on 10th August 2015 and 16th July 2015 respectively, for establishment of Escrow Bank Account for all withdrawals and deposits to be effected from it and for complying with other terms and conditions, required as Concessionaire.

  • The Committee also learnt that NRFA signed an Addendum to the Loan Agreement with NAPSA on 17 July, 2019 and that the Loan repayments were being made on the agreed dates of 30th July, and 31st August, 2019 through the Escrow Bank Account at Bank of Zambia.

  • Payments of Upfront Payment and Upfront Commitment Amount will be made into the Escrow Bank Account.

  • An Escrow Bank Account is intended to protect the Council against a level of cost arising from a contractor’s failure to do what it has promised under a contract and the contract is terminated.

  • The Council can claim from a financial institution the sum of money specified in the Escrow Bank Account (often 10% of the contract value).

  • This share may be either retained by ITGK or may be deposited in an Escrow Bank Account jointly with RKCL or any other mechanism as directed by XXXX from time to time.


More Definitions of Escrow Bank Account

Escrow Bank Account has the meaning ascribed to it in Section 2.3(e) of the Agreement.
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Related to Escrow Bank Account

  • Seller’s Bank Account shall have the meaning set forth in Section 3.2(b).

  • Bank Account means one or more accounts opened, maintained and operated by the Portfolio Manager with any of the Scheduled Commercial Banks in accordance with the agreement entered into with the Client.

  • Authorized Bank Account means any Officially Designated bank account to which redemption proceeds may be sent.

  • Client Bank Account means an account held in the name of the Client with a Bank and/or other institution and/or any electronic payment provider and/or a credit card processor; and/or an account held in the name of the Company on behalf of the Client with a Bank and/or other institution and/or any electronic payment provider and/or a credit card processor.

  • Designated Bank Account means the relevant bank account designated by each Holder;

  • Escrow Bank has the meaning specified in Section 2.15(c).

  • Bank Accounts means those account(s) opened and maintained for the Trust by the Trustee at Banks, the beneficial ownerships in which shall vest in the Unit Holder(s).

  • Purchase Price Bank Account means a bank account in the United States to be designated by the Seller in a written notice to the Purchaser at least five Business Days before the Closing.

  • Nominated Bank Account means MDL’s bank account as notified by MDL to the other Party from time to time.

  • Depository Account includes any commercial, checking, savings, time, or thrift account, or an account that is evidenced by a certificate of deposit, thrift certificate, investment certificate, certificate of indebtedness, or other similar instrument maintained by a Financial Institution in the ordinary course of a banking or similar business. A Depository Account also includes an amount held by an insurance company pursuant to a guaranteed investment contract or similar agreement to pay or credit interest thereon.

  • Checking Account means a Demand Deposit account (DDA), a Negotiable Order of Withdrawal (NOW) account, a Savings account and a Money Market account at the Bank that you open through the Bank website; "Account" includes any Checking, Certificate of Deposit, or Savings account at the Bank opened through the Website or in person; "Card" means an automated teller machine card and/or a VISA debit card that accesses your Checking, Savings, Money Market, or NOW account; "PIN" means the personal identification number you use in connection with your Card; "Password" means the password you use to access the Website and your Bank Accounts through a personal computer or other electronic terminal; "Access Device" means your Card, Password, or other device or code we make available to you to access your Accounts; "Business Day" means Monday through Friday, except federal holidays; and "Authorized User" means any person you authorize or permit to use your Card, Password or other Access Device to access your Accounts, whether that person uses the Access Device to obtain information or to conduct a transaction. This EFT Agreement is part of the Banking Documents. Other terms used in this EFT agreement may be defined elsewhere in the Banking Documents. • ATM Safety • Funds Transfers • Other Electronic Fund Transfer Services • Liability For Unauthorized Electronic Transfers • Other Electronic Fund Transfer Services Types of Transactions‌ We offer the following types of Electronic Fund Transfers (EFT) Services for your Checking Account. • Direct Deposits. You can arrange for direct deposits to your checking and savings account(s). • Preauthorized Credits/Debits. We accept, on your behalf preauthorized Credits/Debits drawn on your Deposit Accounts which allow unrestricted activity. Through our electronic bill payment service, you are able to electronically transfer funds from your Deposit Account to other parties, provided the account allows such activity. We may conduct these transactions via Automated Clearinghouse (ACH) transfer. We may also accept and direct funds by wire transfer. Each of these services has unique fees associated with the transaction. Please consult our Schedule of Fees herein. When you provide the party initiating the withdrawal or deposit with advance authorization to make recurring ACH transfers to or from your Account, the transfers are referred to as "preauthorized transfers." Because these preauthorized transfers are performed electronically through the ACH, they are governed by federal regulations pertaining to EFT Services, which entitle you to certain benefits and protections in connection with the EFT Services, such as the right to receive a copy of your written authorization to make preauthorized transfers from your Account from the party that obtains it. • ATM and Point-of-Sale Transactions. ATM Transactions. ATM Cards issued by us to you remain our property and you may be requested to return the Card to us at any time for any reason. Each card is used in conjunction with an authorizing Personal Identification Number ("PIN"). To guard against someone initiating a transaction that you have not authorized, you must take all reasonable precautions to prevent any other person from learning your PIN. If you permit or authorize another person to use your Card and PIN, you will be liable for all resulting transactions. You may use your Card at ATMs which are a part of an Electronic Funds Transfer service network to which the Bank belongs ("EFT network"). ATM withdrawals are available up to the daily authorization limits disclosed below, provided the available balance in the Deposit Account associated with your card is greater than or equal to the amount requested, plus any fees that may be charged along with the cash disbursement. • Withdraw cash from your Checking Account. • Find out your Checking Account balances. • Transfer funds between your own accounts at the Bank (if available on the ATM in use). • Withdraw cash from your Savings Account. • Make deposits to your own accounts.

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

  • Agency Account means any deposit account opened on the books of a Subcustodian or other banking institution in accordance with Section 7.1.

  • Depository Accounts shall have the meaning set forth in Section 4.15(h) hereof.

  • Disbursement Account means, in respect of each Tranche, the bank account set out in the most recent List of Authorised Signatories and Accounts.

  • Agency Account(s means any deposit account opened on the books of a Subcustodian or other banking institution in accordance with Section 7.1 hereof.

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

  • Escrow Account The Eligible Account or Accounts established and maintained pursuant to Section 3.09(b).

  • Billing Account is the checking account from which all Service fees will be automatically debited.

  • Client Account means the unique personalised account of the Client consisting of all Completed Transactions, Open Positions and Orders in the Trading Platform, the balance of the Client money and deposit/withdrawal transactions of the Client money.

  • Direct Account : means any Account which is not an ISA Account.

  • Operating Accounts shall have the meaning ascribed to it in Section 4.03.A.

  • Custody Account means each Securities custody account on Bank's records to which Financial Assets are or may be credited pursuant hereto.

  • Agent Account means such account of the Administrative Agent as is designated in writing from time to time by the Administrative Agent to the Borrower and the Lenders for such purpose.

  • Clearing Account means the account so designated and established by Section 5.04(1) hereof.

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