Payment Funds definition

Payment Funds refers to xxxx payment funds that correspond to Payment Data (also referred to as a “Payment);
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Payment Funds means the sum of, without duplication, (i) all amounts of Available Funds, (ii) all other funds on deposit in the Collection Account, the Reserve Account and any other Trust Accounts and (iii) all other funds available pursuant to the Basic Documents for payment in accordance with the priorities set forth therein.
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Payment Funds is defined in Section 5.2(e).
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Examples of Payment Funds in a sentence

  • On each Business Day, Bank will electronically deliver or make available to Customer an E-File with Payment Data regarding Payment Funds that have been received by Bank’s third party service provider.

  • If, after receipt of funds, Customer is unable to post a transaction due to invalid payment information, Customer shall notify Bank, and Bank shall be authorized to return the Payment Funds to the Payment Originator.

  • Bank or its third party service provider will initiate a credit to Customer’s Account(s) for next business day settlement, of the Payment Funds applicable to non-rejected (non-returned) electronic payments processed daily prior to established cut off time.

  • Customer authorizes Bank and its third party service provider to post current and future Payment Funds from Payors to its Account(s) in a manner consistent with information Customer has previously provided to Bank to resolve incorrect or incomplete Payor or Payor Account information.

  • Customer agrees to promptly review all Payments credited to Customer’s Account within two (2) Business Days after receipt of the E-File containing Payment Data related to associated Payment Funds, and to notify Bank of any errors in the E-File (including without limitation any Payments that should have been credit to Customer’s Account(s) but that were not credited, and any Payments that should have been rejected and Returned but that were credited to your Account(s)).

  • Bank is hereby authorized to (i) process Electronic Payments Data and Payment Funds received from Bank’s third party vendor, (ii) deposit Payment Funds to an Account established by Customer at Bank, and (iii) to act on behalf of Customer according to the instructions provided by Customer to Bank to process Returns and make Reversing Entries to Customer’s Account(s).

  • D - 4Federal Payment Funds (0150) – District-wide ByComptroller Source Group ..........................................

  • The Payment Funds shall not be used for any purpose except as expressly provided in this Agreement.

  • D - 4Federal Payment Funds (0150) – District-wide byComptroller Source Group ..........................................

  • If for any reason the Payment Funds are inadequate to pay the Merger Consideration, Parent shall remain liable and shall promptly make available to the Payment Agent additional funds for the payment thereof.


More Definitions of Payment Funds

Payment Funds has the meaning given to it in Section 2.2(b).
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Payment Funds means the Series A Payment Fund and Series B Payment Fund.
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Payment Funds means all payment funds established to pay the interest on and principal of all Parity Obligations.
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Related to Payment Funds

  • Payment Fund has the meaning set forth in Section 2.02(a).

  • Settlement Funds means moneys allocated to this state from the environmental mitigation trust specified in par. (d) and received by the state from the trustee.

  • Investment Funds means all monies and financial resources available for investment by the Authority, other than proceeds of bonds issued by the Authority.

  • Current Funds means wire transfers, certified funds or cashier's checks in a form acceptable to the Title Company which would permit the Title Company to immediately disburse such funds.

  • Unspent Funds means the amount reported as unspent by the Recipient as of December 31, 2023 in the Recipient’s 2023 Annual Report (as defined under the Prior Agreement).

  • Interest Funds With respect to each Mortgage Group and any Payment Date, (a) the sum of, without duplication, (1) all interest collected (other than the interest portion of Payaheads and Prepayment Premiums) or advanced in respect of Scheduled Payments on the Mortgage Loans in such Mortgage Group during the related Due Period by the Servicer, the Subservicer, the Master Servicer or the Indenture Trustee (solely in its capacity as successor Master Servicer), minus, (x) to the extent provided under Sections 4.02(e)(3) and (4) and Sections 5.08(i) and (ii) herein, previously unreimbursed Advances and Nonrecoverable Advances due to the Servicer, the Subservicer, the Master Servicer or the Indenture Trustee (solely in its capacity as successor master servicer) to the extent allocable to interest and the allocable portion of previously unreimbursed Servicing Advances with respect to the Mortgage Loans in such Mortgage Group, (y) the Servicing Administration Fee and Master Servicing Fee with respect to such Mortgage Loans in such Mortgage Group and (z) any fees and expenses of any Custodian with respect to the Mortgage Loans in such Mortgage Group to the extent not paid by the Seller or its Affiliates, (2) any Compensating Interest Payments or payments in respect of Prepayment Interest Shortfalls paid by the Master Servicer pursuant to Section 5.21 with respect to the related Prepayment Period with respect to the Mortgage Loans in such Mortgage Group, (3) the portion of any Purchase Price or Substitution Amount paid with respect to the Mortgage Loans in such Mortgage Group during the related Prepayment Period allocable to interest, and (4) all Net Liquidation Proceeds, Insurance Proceeds and any other recoveries collected with respect to the Mortgage Loans in such Mortgage Group during the related Prepayment Period, to the extent allocable to interest, as reduced by (b) such Mortgage Group’s pro rata share of: (i) the Owner Trustee Fee, (ii) any costs, expenses or liabilities reimbursable or otherwise due to the Master Servicer, Servicer, the Subservicer, the Indenture Trustee, any Custodian, the Owner Trustee or the Trust Administrator to the extent provided in this Agreement, the Trust Agreement, the Indenture and any Custodial Agreement and (iii) any Net Swap Payment.

  • Client Funds means money deposited by the Client in his/her Trading Account, plus or minus any unrealized or realized profit or loss, plus or minus any amount that is due by the Client to the Company and vice versa.

  • Settlement Fund means the Settlement Amount plus any and all interest earned thereon.

  • Initial Monthly Payment Fund An amount representing scheduled principal amortization and interest at the Net Mortgage Rate for the Due Date in the first Due Period commencing subsequent to the Cut-off Date for those Mortgage Loans for which the Trustee will not be entitled to receive such payment, and as more specifically defined in the Series Supplement.

  • Endowment fund means an institutional fund or part thereof that, under the terms of a gift instrument, is not wholly expendable by the institution on a current basis. The term does not include assets that an institution designates as an endowment fund for its own use.

  • 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.

  • Grant Funds means any and all funds allocated or disbursed to Grantee under this Agreement.

  • Interest Funding Account shall have the meaning specified in subsection 4.2(b).

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • Company Contribution Account means (i) the sum of the Participant’s Company Contribution Amounts, plus (ii) amounts credited or debited to the Participant’s Company Contribution Account in accordance with this Plan, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant’s Company Contribution Account.

  • Excess Funds shall have the meaning set forth in Section 2(l) of this Agreement.

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

  • Matching Contribution Account means the separate, individual account established on behalf of a Participant to which the Matching Contributions made on such Participant's behalf are credited, together with all earnings and appreciation thereon, and against which are charged any withdrawals, loans and other distributions made from such account and any losses, depreciation or expenses allocable to amounts credited to such account.

  • Pre-Funding Account means the account designated as the Pre-Funding Account in, and which is established and maintained pursuant to Section 7.07.

  • 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.

  • Member Account means the regular account and the variable account.

  • Program Funds means all funds that are required to be deposited into the Non-profit School Food Service Account.

  • Rollover Contribution Account means the separate Account maintained for a Member to record such Member's share of the Trust Fund attributable to any Rollover Contribution made to the Plan on his behalf.

  • Contribution Account means an account, or accounts, into which the Accountholder and employer contributions are deposited by the TPA, and from which HSA dollars are swept into the Cash Account.

  • Trust Funds means any cash or Permitted Investments comprised of (a) funds specially and exclusively used (i) for payroll and payroll taxes and other employee benefit payments to or for the benefit of employees of Loan Parties and their subsidiaries, (ii) to pay all taxes required to be collected, remitted or withheld (including, without limitation, federal and state withholding taxes (including the employer’s share thereof)) and (b) any other funds which any Loan Party holds on behalf as an escrow or fiduciary for another person (other than another Loan Party).

  • Subsidy Funds With respect to any Subsidy Loans, funds contributed by the employer of a Mortgagor in order to reduce the payments required from the Mortgagor for a specified period in specified amounts.