Payment Bank definition

Payment Bank means a bank licensed under section 22 of the Banking Regulation Act, 1949 and governed by the terms of the “Reserve Bank Guidelines for Licensing of Payments Banks” dated November 27, 2014, as amended from time to time;

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Payment Bank means a bank, trust company, savings bank,

Payment Bank means a credit institution which holds one or several Dedicated Cash Accounts and which provides cash to its clients to support the settlement of securities transactions;

Examples of Payment Bank in a sentence

• For each Growth Capital Scheduled Payment, Bank may debit any of Borrower’s deposit accounts, including the Designated Deposit Account, for principal and interest payments or any other amounts Borrower owes Bank when due.

• The Contractor shall provide a new Advance Payment Bank Guarantee (or to prolong the existing guarantee) prior to the expiry date of the existing Advance Payment Bank Guarantee in accordance with the form complying with the Contract conditions and for a term providing the Contractor’s fulfillment of its obligations under the Contract plus 40 (forty) days.

• The Contractor shall bear all the costs of execution, prolongation, and issuance of the new Advance Payment Bank Guarantee regardless of the fault of one of the Parties due to which the Advance Payment Bank Guarantee must be prolonged (or new guarantee must be issued).

• This Agreement may be executed in one or more counterparts and by the different parties hereto in separate counterparts, each of which when executed shall be deemed to be an original but all of which taken together shall constitute one and the same agreement.

• Enel shall not be entitled to make the demand under the Advance Payment Bank Guaranty before the advance payment is credited to the Contractor’s account.

More Definitions of Payment Bank

Payment Bank means a “payment bank” as defined in the RBI’s Guidelines for Licensing of “Payments Banks” dated November 27, 2014 and, in the context of these Articles, shall mean the PB Entity;

Payment Bank or “Bank” shall mean Jio Payments Bank Ltd.

Payment Bank means a credit institution, bank, trust company or other institution which (i) has maintained an adequate long-term credit rating of at least A or equivalent issued by at least two recognised credit rating agencies; (ii) is capable of ensuring operational availability during the days and times required for the Payment Bank Procedures; (iii) participates in the SWIFT messaging system or other message protocol utilised by x-clear; (iv) is capable of maintaining cut-off times consistent with the Payment Bank Procedures; (v) has in place business continuity and contingency arrangements necessary to ensure resilience to disruptions to internal systems and processes which may have an adverse effect on the operation of the Payment Bank Procedures; (vi) has an agreement with x-clear to participate in the Payment Bank Procedures; and (vii) has satisfied x-clear in relation to maintaining adequate systems and processes for participation in the Payment Bank Procedures;

Payment Bank means a duly-licensed bank designated by the Bank (using the form attached to the Registry and Paying Agency Agreement as Schedule 3), where the PDTC Payment Account will be opened, maintained, and managed by the Paying Agent for and on behalf of the Issuer, into which the Bank shall deposit, in good cleared funds, the amount of the relevant interest and principal payments due each Bondholder on each relevant Payment Date.

Payment Bank means a credit institution, bank, trust company or other institution which

Payment Bank means a bank, trust company, savings bank, investment company, financial institution or any other person carrying on a banking or financial business which may be selected by the State to hold the State payment account in connection with a structured financing transaction.

Payment Bank means either of them or, where the context requires, shall mean a Replacement Payment Bank (as such term is defined in either Payment Agreement);