Merchant Payment Account definition

Merchant Payment Account means a payment account that Givex will, on Merchant’s behalf, instruct Processor to establish for Merchant to be used to account for and settle amounts as part of Merchant’s use of the GivexPay Services and Processing Services.
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Merchant Payment Account means the payment account heldby you with us.
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Examples of Merchant Payment Account in a sentence

  • As between Merchant and Givex, Xxxxxxxx is responsible and liable for all charges, including fees, chargebacks, refunds, fines or penalties arising in connection with Xxxxxxxx’s use of the GivexPay Services and Processing Services, including any negative balance in the Merchant Payment Account.

  • Givex and Processor will deduct the Dispute amount from the Merchant Payment Account upon a Dispute, including in accordance with its rights under Section 3.13, and will credit Merchant’s account if Xxxxxxxx’s challenge is accepted by applicable issuing and acquiring banks.

  • Merchant assumes all responsibility and shall have no claims towards Givex in the event of any losses and damages that Merchant or any third-party may incur due to any non-settlement or erroneous settlement of the Settlement Amount, due to Merchant’s non-compliance with the terms herein or for providing a wrong Merchant Payment Account.

  • Givex may further require Merchant to deposit funds into the Merchant Payment Account in order to fund the Reserve.

  • Compensation: Compensation as defined in section 414(s) of the Code including amounts excluded from gross income under sections 125, 132(f)(4) and 401(k).

  • Settlement Amounts will be paid to Merchant only if the Merchant Payment Account is active and in full compliance with this Terms and Conditions and the Processor Terms.

  • Givex may collect such funds by instructing Processor to deduct or set-off such funds from the Merchant Payment Account, in accordance with Section 3.13.

  • If Merchant leaves any funds dormant in the Merchant Payment Account and Merchant does not give Givex instructions as to where to send them, Givex will act according to the instruction of Processor and applicable law.

  • Subject to the other relevant provisions herein, the positive balance in the Merchant Payment Account reduced by all Transaction Cancellation Costs and any other amount owed by the Merchant to Givex or Processor, or otherwise deducted pursuant to this Terms and Conditions (“Settlement Amounts”) shall be transferred to the Merchant Bank Account by Processor upon such amounts becoming available for settlement.

  • Processor, acquiring banks, or other financial institutions holding the Merchant Payment Account may also require a holding period before the settlement of the Settlement Amounts to the Merchant Bank Account.

Related to Merchant Payment Account

  • 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.

  • Payment Account means a segregated non-interest-bearing corporate trust account maintained by the Property Trustee for the benefit of the Holders in which all amounts paid in respect of the Notes will be held and from which the Property Trustee, through the Paying Agent, shall make payments to the Holders in accordance with Sections 3.1, 4.1 and 4.

  • 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.

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.

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

  • Distribution Account Deposit Date As to any Distribution Date, 12:30 p.m. Pacific time on the Business Day immediately preceding such Distribution Date.

  • Distribution Accounts Collectively, the Upper-Tier REMIC Distribution Account, the Lower-Tier REMIC Distribution Account, the Excess Interest Distribution Account (and in each case any subaccount thereof), all of which may be subaccounts of a single Eligible Account.

  • Transaction Account means a cash account established and maintained by Repo Custodian for the Funds to effect repurchase transactions pursuant to the Master Agreement.

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).