Offset Account definition

Offset Account has the meaning specified in Section 5.2(f).

Offset Account means a transaction style account provided by a Supplier which is linked to the “Offset Loan Account” for the purpose of calculating interest due on the Loan Account. Pass Through Rate or PTR means the applicable percentage rates applied to the Direct Commission in respect of Settled Loans for the purpose of calculating the Fee for your Services. The Pass Through Rates may be varied from time to time.

Offset Account means the portion of a Member’s Account consisting of the Member’s “Offset Account” as that terms is defined and determined under the LESOP as of the date immediately prior to the merger of the LESOP herein, which is effective as of the time period provided in Section 1.3(a)

Examples of Offset Account in a sentence

• If prefunding is required, Customer will be required to have sufficient collected funds on deposit in the Offset Account on ACH submission dates as a condition for Bank’s processing of any outgoing ACH Credit Entry.

• Customer shall have sufficient collected funds available in the designated Offset Account at Bank to pay all Credit Entries that will be settled on any particular Effective Entry Date, together with all adjustment Entries, fees and other amounts that Customer is obligated to pay Bank under this Agreement.

• Bank may, without prior notice or demand obtain payment of any amount due and payable to it under this Agreement by debiting any Offset Account, or debiting or otherwise offsetting any of Customer’s or Customer’s affiliates accounts at Bank or Bank’s affiliates.

• Bank shall have no liability to Customer for rejection of an Entry or for failure to notify Customer of a rejection and shall not be liable to pay any interest to Customer even if the amount of Customer’s payment order is fully covered by the balance in the Offset Account or Bank has otherwise received full payment from Customer.

• If settlement does not proceed on the proposed date or on such other date as you may advise us, you may request that we re-link your loan account and your Offset Account.

More Definitions of Offset Account

Offset Account means the amount equal to, but not below zero, of the aggregate negative EBIT for all periods, reduced by any EBIT.

Offset Account means a transaction style account provided by a Panel Lender or Strategic Partner which is linked to the “Offset Loan Account” for the purpose of calculating interest due on the Loan Account.

Offset Account means a deposit account linked to the Applicant’s Loan Account.

Offset Account means an account at Bank that is established and maintained by FDMS to allow SERVICERS to credit and debit funds as provided in Section 6. “Other MSP” shall have the meaning provided in Section 2.4. “Pass-Through Costs and Interchange” shall mean the amounts charged by MasterCard, Visa, and other networks or Bank Card associations (including interchange fees, dues and assessments) in connection with the Approved Merchant transactions, the liability for which shall be the sole responsibility of ISO except as otherwise described herein. “Payment Date” means: (i) for Merchant Accounts originally covered by the TS ISO Agreement and the PCS ISO Agreement, the [***] day (or first Business Day thereafter if such day is not a Business Day) of each calendar month during the term of this Agreement; and (ii) for all other Merchant Accounts on the FDMS “Omaha” platform covered by this Agreement, the first Business Day after the day the funds are available and in Bank’s settlement account, but in no event later than [***] [***] days after the end of each month. “Processing Year 1” means the period commencing on the Effective Date and ending on June 30, 2007. *** Omitted pursuant to a confidential treatment request. The confidential portion has been filed separately with the SEC.

Offset Account means an account at Bank that is established and maintained by FDMS to allow SERVICERS to credit and debit funds as provided in Section 6.

Offset Account means, with respect to each Class C Equityholder as of the Closing Date (each such Person, a "Class C Holder"), an account which shall be credited and debited as follows:

Offset Account means an Up account of a type described in clause 3 while it is linked to a loan account as an Offset Account.