Examples of Paying Account in a sentence
If you enroll in our Account-to-Account Transfer Overdraft Protection service and designate another checking or savings account that you maintain with us (your “Funding Account”) to cover overdrafts in your account (your “Paying Account”), the maximum dollar amount of overdraft coverage available to your Paying Account will be the available balance in your Funding Account after all other debits to, and items to be paid from, your Funding Account have been paid.
Regardless of your enrollment in Account-to-Account Transfer Overdraft Protection, we do not include the available balance of your Funding Account in determining whether to authorize your request for an ATM cash withdrawal or other debit card transaction from your Paying Account.
If we transfer funds from your Funding Account to cover a Paying Account overdraft, then our service fee for Account-to-Account Transfer Overdraft Protection service will be charged and debited to your Funding Account.
None of the Issuer, the Investors, the Security Agent, the Custodian, the Paying Account Provider, the Paying Agent Upon Realization Event or any other person shall at any time have the right to affect or demand the conversion of Products (as Ledger-Based Securities) into, or the delivery of, individually certificated securities ("Wertpapiere"), uncertificated securities ("einfache Wertrechte") or book-entry securities ("Bucheffekten").
If you are enrolled in our Account-to-Account Transfer Overdraft Protection service and there is insufficient overdraft coverage available under that service to cover the amount of an overdraft, then we have the right to either (i) decline to pay the item that would create the overdraft and return it unpaid or (ii) pay the item by transferring any funds available in your Funding Account to your Paying Account and creating an overdraft.
The Issuer may appoint or exchange the respective Paying Account Provider(s) for each Product specified in the applicable Final Terms and/or on its website, provided that there will always be at least one Paying Account Provider as long as the Products are offered on the blockchain.
The Investors are deemed to have read and taken notice of the provisions of these Terms and Conditions and the Final Terms as well as the key elements of the Tokenization Services Agreement, Authorized Participant Agreement (if any), the Collateral Agreement, the Account Control Agreement, the Custody Agreement, the Brokerage Agreement, the Paying Account Provider Agreement and the Market Maker Agreement (if any) as described in the Securities Note and the Final Terms.
With respect to distributions from the Paying Account to U.S. persons (actual or presumed), the Payments Administrator shall complete any tax reporting required by U.S. law of the Payments Administrator, which as of the date of this Agreement shall be limited to IRS 1099-B forms.
For payee service charges retained in the Paying Account after deduction from a payment, the Payments Administrator is authorized to transfer such amounts to itself, to be retained by the Payments Administrator as compensation.
The Issuer may also appoint several Paying Account Providers in relation to any one Product.