Merchant Deposit Account definition

Merchant Deposit Account has the meaning ascribed thereto in Section 7.1 (a).
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Merchant Deposit Account means Merchant’s deposit account maintained at M&T or other financial institution that is credited or
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Merchant Deposit Account has the meaning ascribed thereto in Section 7.1(a) “Payment Intangibles” shall have the meaning set forth in Article 9 of the UCC.
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Examples of Merchant Deposit Account in a sentence

  • On each Business Day, all funds on deposit in the Merchant Deposit Account shall be transferred to the Collateral Deposit Account.

  • In the event of an error, dispute or circumstance requiring adjustment, Merchant authorizes M&T to credit and debit the Merchant Deposit Account, future deposits in the Merchant Deposit Account and other deposit relationships ofMerchant with M&T or its affiliates, all without prior notice to Merchant.

  • Merchant hereby authorizes the financial institutions where its Merchant Deposit Account is maintained to affect all such debits and credits to Xxxxxxxx’s Deposit Account.

  • Merchant will immediately reimburse M&T the amount of negative balance in the Merchant Deposit Account that occurs as a result of deductions for cardholder disputes, charges, fees or otherwise.

  • The Grantor shall cause to be deposited in that Merchant Deposit Account on each Business Day all proceeds of Collateral other than proceeds of Securitization Sales Receivables and Servicing Accounts and Unsecuritized Receivables.

  • M&T will credit the Merchant Deposit Account with the total face amount of Transaction Records that comply with the terms of this Agreement, Law and Rules, less credit slips presented at that time and offsets.

  • On or before the Closing Date, the Grantor shall execute and deliver to the Administrative Agent a Deposit Account Control Agreement for account number 000000000000, in the name of the Grantor maintained by the Grantor at U.S. Bank National Association (such account, or such other accounts as are reasonably acceptable to the Administrative Agent, the “Merchant Deposit Account”), which Merchant Deposit Account is identified as such on Exhibit B.

  • M&T may charge Merchant a fee for producing or delivering any statement, report, record and other information that Merchant requests, which is related to the Merchant Services, including but not limited to Merchant, the Merchant Deposit Account and Transactions.

  • If Merchant goes more than 90 consecutive days without posting Transactions under this Agreement, Merchant must notify M&T that it is terminating the Merchant Deposit Account and this Agreement.

  • To the extent the Automated Clearing House (ACH) process is used to effect debits or credits to Merchant Deposit Account, the undersigned agrees to be bound by the terms of the operating rules of the National Automated Clearinghouse Association, as in effect from time to time.


More Definitions of Merchant Deposit Account

Merchant Deposit Account has the meaning ascribed thereto in Section 7.1(a) of the Security Agreement as in effect on the date hereof.
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Merchant Deposit Account has the meaning ascribed thereto in Section 7.1(a) “Payment Intangibles” shall have the meaning set forth in Article 9 of the UCC. “Pledged Collateral” means all Securities consisting of Equity Interests of Subsidiaries of the Grantor, whether or not physically delivered to the Administrative Agent pursuant to this Security Agreement. “Purchased Assets” means (i) Underlying Receivables and (ii) other “Purchased Assets” (as such term is defined in Section 2.1(a) of the Receivables Purchase Agreement as in effect on the date hereof or in any other Receivables Purchase Agreement or similar agreement entered into after the date hereof which is substantially in the form of the Receivables Purchase Agreement as in effect on the date hereof, mutatis mutandis, or otherwise reasonably acceptable to Administrative Agent). “Receivables Account” shall mean each consumer revolving credit account established pursuant to a Receivables Account Agreement (as defined in the Servicing Agreement) between Receivables Account Owner and any Receivables Obligor (as defined in the Servicing Agreement). “Receivables Account Owner Documents” means (i) with respect to WebBank, the Amended and Restated Receivables Sale Agreement dated as of August 20, 2010, by and between WebBank and the Grantor (as it may be amended or modified from time to time) and the Amended and Restated Revolving Loan Product Program Agreement, dated as of August 20, 2010, by and between WebBank and the Grantor (as it may be amended or modified from time to time) (ii) with respect to MetaBank, the Amended and Restated Program Agreement, dated as of August 20, 2010, by and between MetaBank and the Grantor (as it may be amended or modified from time to time) and the Amended and Restated Receivables Sale Agreement, dated as of August 20, 2010, by and between MetaBank and the Grantor (as it may be amended or modified from time to time) and (iii) with respect to any other Receivables Account Owner, each receivables sales agreement, product program agreement and any other similar agreements
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Related to Merchant Deposit Account

  • 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.

  • Deposit Accounts means any “deposit accounts,” as such term is defined in the UCC, and includes any checking account, savings account, or certificate of deposit.

  • Approved Deposit Account means a Deposit Account that is the subject of an effective Deposit Account Control Agreement and that is maintained by any Loan Party with a Deposit Account Bank. “Approved Deposit Account” includes all monies on deposit in a Deposit Account and all certificates and instruments, if any, representing or evidencing such Deposit Account.

  • L/C Cash Deposit Account means an interest bearing cash deposit account to be established and maintained by the Agent, over which the Agent shall have sole dominion and control, upon terms as may be satisfactory to the Agent.

  • Excluded Deposit Account means (a) any deposit account exclusively used for payroll, payroll taxes, and other employee wage and benefit payments to or for the benefit of Borrower’s employees and identified to Bank by Borrower as such and (b) any Xxxxx Cash Accounts.

  • Excluded Deposit Accounts means, collectively, (i) payroll and payroll taxes accounts, workers’ compensation accounts and other employee wage and benefit payment accounts and xxxxx cash accounts, (ii) trust accounts and (iii) deposit accounts other than Collection Accounts and Collateral Deposit Accounts (as each such term is defined in the Revolving Credit Agreement), so long as the aggregate amount on deposit in all such deposit accounts does not exceed $2,500,000 in the aggregate at any time.

  • Deposit Account is any “deposit account” as defined in the Code with such additions to such term as may hereafter be made.

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

  • Collateral Deposit Account shall have the meaning set forth in Section 7.1(a).

  • Controlled Deposit Account means each deposit account (including all funds on deposit therein) that is the subject of an effective Control Agreement and that is maintained by any Loan Party with a financial institution approved by the Administrative Agent.

  • Security Deposit Account has the meaning given in Section 5.1.

  • Deposit Account Agreement means the Deposit Account Agreement and Disclosure, as may be amended from time to time, issued by the Custodian and available on the Custodian’s internet customer portal, “xx.xxxxxxxxxxx.xxx”.

  • Investment Accounts means the Collateral Account, Securities Accounts, Commodities Accounts and Deposit Accounts.

  • 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.

  • Deposit Account Bank means a financial institution selected or approved by the Administrative Agent.

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

  • 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.

  • Collateral Accounts means any and all accounts established and maintained by the Pledgee in the name of any Pledgor to which Collateral may be credited.

  • Deposit Account Control Agreement means each deposit account control agreement among a Borrower, the Administrative Agent and the Account Bank, as the same may be amended, amended and restated, supplemented or otherwise modified from time to time.

  • Deposit Account Control Agreements means, with respect to each deposit account that is required by the Collateral Agreement to be subject to a control agreement, a deposit account control agreement executed by the Borrower, the Administrative Agent as the secured party thereto, and the deposit bank, as each may be amended, restated, supplemented or otherwise modified from time to time.

  • Lock-Box Account With respect to any Mortgaged Property, if applicable, any account created pursuant to any documents relating to a Mortgage Loan or Serviced Loan Combination to receive rental or other income generated by the Mortgaged Property. Any Lock-Box Account shall be beneficially owned for federal income tax purposes by the Person who is entitled to receive the reinvestment income or gain thereon in accordance with the terms and provisions of the related Mortgage Loan or Serviced Loan Combination and Section 3.07 of this Agreement, which Person shall be taxed on all reinvestment income or gain thereon.

  • Securities Accounts (i) shall mean all “securities accounts” as defined in Article 8 of the UCC and (ii) shall include, without limitation, all of the accounts listed on Schedule 4.4(A) under the heading “Securities Accounts” (as such schedule may be amended or supplemented from time to time).

  • FT Account Pool #: Mortgagor's Name, Address and Zip Code: Mortgage Loan Number: Reason for Requesting Documents (check one)

  • 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.

  • Merchant Account means the merchant account facility agreed between you and the Merchant Acquiring Bank.

  • Excluded Accounts means any deposit account or securities account used exclusively as (a) payroll and other employee wage and benefit accounts, (b) tax accounts, including sales tax accounts, (c) escrow, fiduciary or trust accounts, (d) zero balance accounts and (e) the funds or other property held in or maintained in any such account identified in clauses (a) through (d).