Holdbacks definition
Holdbacks are sums that BlueSnap may in its sole discretion without prior notice hold in reserve against Merchant’s account during exposure or potential exposure to high frequency of refunds or Chargebacks or following significant variations in monthly sales volume, so as to ensure there are sufficient funds held in Merchant’s account to meet potential Refund and Chargeback requests. Should BlueSnap be subject to, or have reasonable cause to believe that it may be exposed to any negative Merchant account balance, or any claims, fines, penalties, non-compliance charges or additional fees levied by any Acquirer, Card Association or legal authority due to Merchant’s acts or omissions, or as a result of default, breach or termination of this Agreement, fraud, money laundering, illegal, unauthorized or improper actions of Merchant and/or Merchant’s customers, BlueSnap may in its sole discretion and without prior notice holdback in reserve additional sums for such period as it deems necessary to secure and make whole its financial position.
Holdbacks are sums that BlueSnap may in its sole discretion without prior notice hold in reserve against Merchant’s account during exposure or potential exposure to high frequency of refunds or Chargebacks or following significant variations in monthly sales volume, so as to ensure there are sufficient funds held in Merchant’s account to meet potential Refund and Chargeback requests. Should BlueSnap be subject to, or have reasonable cause to believe that it may be exposed to any negative Merchant account balance, or any claims, fines, penalties, non-compliance charges or additional fees levied by any Acquirer, Card Association or legal authority due to Merchant’s acts or omissions, or as a result of default, fraud, money laundering, illegal, unauthorized or improper actions of Merchant and/or Merchant’s customers, BlueSnap may in its sole discretion and without prior notice holdback in reserve additional sums for such period as it deems necessary to secure and make whole its financial position.
Holdbacks shall have the meaning set out in Clause 4.2.2
Examples of Holdbacks in a sentence
Upon such cessation, the relevant provisions in this Agreement relating to Holdbacks and Reserve shall apply.
Upon termination of services to Merchant or Third Party Referrer, BlueSnap shall be entitled to set Holdbacks and Reserves as it deems fit in accordance with this Agreement.
Other than with respect to any Non-Performance Holdbacks (as defined in Section 2.5(c)), payments that are not timely paid shall be subject to late charges, calculated at an interest rate per annum equal to the Prime Rate (or the maximum legal rate, whichever is lower), and calculated for the actual number of days elapsed, accrued from the date on which such payment was due up to the date of the actual receipt of payment.
Each Holder of Registrable Securities agrees that the Company may instruct its transfer agent to place stop transfer notations in its records to enforce such Holdbacks.
If the Owner accepts the proposal, the Owner will upon receipt of the performance security release the Performance Holdbacks to the Design-Builder.
More Definitions of Holdbacks
Holdbacks means (i) the Representation and Warranty Hold-Back and (ii) the Management Retention Hold-Back;
Holdbacks shall have the meaning set forth in the Notes.
Holdbacks shall apply as set out below: Licensor shall make available each Library Feature and TV Series on the basis that each is non-exclusive and no holdbacks shall apply.
Holdbacks. A Mortgage Loan subject to a weather-related escrow holdback.
Holdbacks means: Collectively, the CapEx Holdback, the Contingency Holdback, the Development Fee Holdback, the Insurance Holdback, the Interest Holdback, the O&M Holdback, the Operating Deficit Holdback, the Project Working Capital Holdback, the Real Estate Tax Holdback and the Working Capital Holdback, each a “Holdback”.
Holdbacks shall have the meaning set forth in Section 2.4(c)(i) herein.
Holdbacks to the extent that (A) such Holdbacks apply to the Company and Selling Shareholders on equal or more restrictive terms and (B) such Holdbacks are limited to one hundred eighty (180) days after the Registration Statement for such Underwritten Offering has become effective. For the purpose of this Agreement, to “Holdback” is to refrain from selling, making any short sale of, loaning, granting any option for the purchase of, effecting any public sale or distribution of or otherwise disposing of any securities of the Company, except as part of such underwritten registration, whether or not such holder participates in such registration. Each Holder of Registrable Securities agrees that the Company may instruct its transfer agent to place stop transfer notations in its records to enforce such Holdbacks. The Company agrees (A) if so required by the managing underwriter, that it would be subject to the same Holdbacks as the holders of Registrable Securities, except pursuant to registrations on Form F-▇, ▇-▇, ▇-▇ ▇r any successor or similar forms thereto, and (B) to cause each holder of its securities or any securities convertible into or exchangeable or exercisable for any of such securities, in each case purchased from the Company at any time after the date of this Agreement (other than in a public offering) to agree to such Holdbacks. No Holdback shall apply to the delivery of Registrable Securities pursuant to Section 2.8 of the NewCo Loan Agreement or Section 2.4(b)(ii)(1) or (2) of the SAR.