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

  • 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.

  • Givex may further require Merchant to provide additional information or documentation in order to ensure Merchant’s compliance with this Terms and Conditions, the Processor Terms, Payment Card Network Rules, applicable laws and regulations, and any terms applicable to the Merchant Payment Account, in which case Merchant shall promptly provide such required information or documentation.

  • 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.

  • 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.

  • All Transaction amounts deducted for applicable Fees shall be allocated to the Merchant Payment Account and held by Processor and its banking partners in pooled accounts.

  • Fees and charges will be deducted from the Merchant Payment Account balance or otherwise in accordance with Section 3.13 (Collection of Debt; Set-Off).

  • 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.

  • 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.

  • 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.

  • 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.

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 with the Bank in its trust department for the benefit of the Securityholders in which all amounts paid in respect of the Debentures shall be held and from which the Property Trustee shall make payments to the Securityholders in accordance with Sections 401 and 402.

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

  • Collection Accounts As defined in Section 3.10(a).

  • 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.

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

  • Disbursement Account has the meaning ascribed to it in Section 1.1(e).

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

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

  • Collection Account Agreement means an agreement substantially in the form of Exhibit VI among Originator, Seller, the Agent and a Collection Bank.

  • Seller Account shall have the meaning set forth in the preamble of this Agreement.

  • Retirement Accounts has the meaning ascribed thereto in Section 2.1(F)(7) hereof.

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

  • Accumulation Account The account designated as such, established and maintained pursuant to Section 5.01(a)(iii) of the Trust Sale and Servicing Agreement.

  • Collections Account has the meaning given to such term in Section 3.01(a) hereof.